|
Debt (Details) (USD $)
|
3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Dec. 31, 2011
|
Mar. 31, 2012
Mortgage and Other Secured Loans:
|
Dec. 31, 2011
Mortgage and Other Secured Loans:
|
Mar. 31, 2012
Fixed rate mortgage loans
|
Dec. 31, 2011
Fixed rate mortgage loans
|
Mar. 31, 2012
Variable rate secured loans
|
Dec. 31, 2011
Variable rate secured loans
|
Mar. 31, 2012
Other construction loan facilities
|
Dec. 31, 2011
Other construction loan facilities
|
Mar. 31, 2012
Revolving Credit Facility
|
Dec. 31, 2011
Revolving Credit Facility
|
Feb. 29, 2012
Term Loan Facility
|
Mar. 31, 2012
Term Loan Facility
|
Dec. 31, 2011
Term Loan Facility
|
Mar. 31, 2012
Term Loan Facility
LIBOR 30-day
|
Mar. 31, 2012
Unsecured notes payable
|
Dec. 31, 2011
Unsecured notes payable
|
Mar. 31, 2012
4.25% Exchangeable Senior Notes
|
Mar. 31, 2011
4.25% Exchangeable Senior Notes
|
Dec. 31, 2011
4.25% Exchangeable Senior Notes
|
|
| Debt | ||||||||||||||||||||||
| Maximum Availability | $ 123,802,000 | $ 1,000,000,000 | $ 650,000,000 | |||||||||||||||||||
| Carrying Value | 2,418,078,000 | 2,426,303,000 | 1,138,825,000 | 1,131,970,000 | 1,049,204,000 | 1,052,421,000 | 39,027,000 | 39,213,000 | 50,594,000 | 40,336,000 | 396,000,000 | 662,000,000 | 650,000,000 | 400,000,000 | 5,078,000 | 5,050,000 | 228,175,000 | 227,283,000 | ||||
| Stated interest rate (as a percent) | 0.00% | 4.25% | ||||||||||||||||||||
| Stated Interest Rates, low end of range (as a percent) | 5.20% | |||||||||||||||||||||
| Stated Interest Rates, high end of range (as a percent) | 7.87% | |||||||||||||||||||||
| Description of variable rate basis | LIBOR | LIBOR | LIBOR | LIBOR | ||||||||||||||||||
| Variable rate, spread (as a percent) | 2.25% | |||||||||||||||||||||
| Variable rate, spread low end of range (as a percent) | 1.95% | 1.75% | 1.65% | |||||||||||||||||||
| Variable rate, spread high end of range (as a percent) | 2.75% | 2.50% | 2.40% | |||||||||||||||||||
| Unamortized premium included in carrying value | 2,200,000 | 2,400,000 | ||||||||||||||||||||
| Unamortized discount included in carrying value | 1,700,000 | 1,800,000 | 11,800,000 | 12,700,000 | ||||||||||||||||||
| Interest rate on debt (as a percent) | 2.49% | |||||||||||||||||||||
| Weighted average interest rate (as a percent) | 6.01% | 2.73% | 2.24% | 2.15% | ||||||||||||||||||
| Exchange rate per $1000 principal amount (in common shares) | 20.8513 | |||||||||||||||||||||
| Convertible debt principal amount, basis for exchange | 1,000 | |||||||||||||||||||||
| Exchange price per common share based on exchange rate (in dollars per share) | $ 47.96 | |||||||||||||||||||||
| Principal amount of debt | 240,000,000 | |||||||||||||||||||||
| Effective interest rate, including amortization of issuance costs (as a percent) | 6.05% | |||||||||||||||||||||
| Interest expense at stated interest rate | 2,550,000 | 2,550,000 | ||||||||||||||||||||
| Interest expense associated with amortization of discount | 775,000 | 1,649,000 | 892,000 | 840,000 | ||||||||||||||||||
| Total interest expenses | 3,442,000 | 3,390,000 | ||||||||||||||||||||
| Initial amount borrowed | 250,000,000 | |||||||||||||||||||||
| Estimated fair value of property secured by nonrecourse mortgage loan in default | 11,000,000 | 11,000,000 | ||||||||||||||||||||
| Nonrecourse mortgage loan secured by a property in default | 15,000,000 | 15,000,000 | ||||||||||||||||||||
| Capitalized interest costs | $ 3,800,000 | $ 4,300,000 | ||||||||||||||||||||