Quarterly report pursuant to Section 13 or 15(d)

Properties, net (Tables)

v2.4.1.9
Properties, net (Tables)
3 Months Ended
Mar. 31, 2015
Real Estate [Abstract]  
Schedule of operating properties, net
Operating properties, net consisted of the following (in thousands): 
 
March 31,
2015
 
December 31,
2014
Land
$
455,639

 
$
439,355

Buildings and improvements
3,157,434

 
3,015,216

Less: Accumulated depreciation
(724,539
)
 
(703,083
)
Operating properties, net
$
2,888,534

 
$
2,751,488

Schedule of projects in development or held for future development
Projects in development or held for future development consisted of the following (in thousands):
 
March 31,
2015
 
December 31,
2014
Land
$
219,852

 
$
214,977

Construction in progress, excluding land
269,766

 
330,449

Projects in development or held for future development
$
489,618

 
$
545,426

Schedule of allocation of acquisition costs
The table below sets forth the allocation of the acquisition costs of this property (in thousands):

Land, operating properties
 
$
8,057

Building and improvements
 
34,740

Intangible assets on real estate acquisitions
 
20,183

Total assets
 
62,980

Below-market leases
 
(1,093
)
Total acquisition cost
 
$
61,887

Schedule of intangible assets recorded in connection with acquisition
Intangible assets recorded in connection with the above acquisition included the following (dollars in thousands):
 
 
 
 Weighted Average Amortization Period (in Years)
Tenant relationship value
$
7,252

 
11
In-place lease value
10,218

 
7
Above-market leases
2,713

 
4
 
$
20,183

 
8