$BXP
BXP, Inc. Stock $bxp

$bxp Overview Financials Valuation SEC Filings Company Website

2015 Q2 Form 10-Q Financial Statement

#000119312515282990 Filed on August 07, 2015

Income Statement

Concept	2015 Q2	2014 Q2
Revenue	$618.2M	$589.8M
YoY Change	4.82%	15.64%
Cost Of Revenue	$223.0M	$210.0M
YoY Change	6.19%	14.5%
Gross Profit	$395.3M	$379.8M
YoY Change	4.08%	16.25%
Gross Profit Margin	63.94%	64.4%
Selling, General & Admin	$22.30M	$23.30M
YoY Change	-4.29%	-4.12%
% of Gross Profit	5.64%	6.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$167.9M	$154.6M
YoY Change	8.6%	14.86%
% of Gross Profit	42.47%	40.71%
Operating Expenses	$190.1M	$177.8M
YoY Change	6.92%	12.75%
Operating Profit	$204.9M	$201.3M
YoY Change	1.81%	19.54%
Interest Expense	$108.5M	$111.0M
YoY Change	-2.2%	7.6%
% of Operating Profit	52.96%	55.14%
Other Income/Expense, Net
YoY Change
Pretax Income	$100.7M	$95.90M
YoY Change	5.01%	-80.95%
Income Tax		$0.00
% Of Pretax Income		0.0%
Net Earnings	$79.46M	$76.53M
YoY Change	3.83%	-83.18%
Net Earnings / Revenue	12.85%	12.98%
Basic Earnings Per Share	$0.52	$0.50
Diluted Earnings Per Share	$0.52	$0.50
COMMON SHARES
Basic Shares Outstanding	153.5M shares	153.1M shares
Diluted Shares Outstanding	153.8M shares	153.2M shares

Balance Sheet

Concept	2015 Q2	2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.364B	$1.056B
YoY Change	29.2%	-34.96%
Cash & Equivalents	$1.343B	$1.037B
Short-Term Investments	$20.95M	$18.93M
Other Short-Term Assets	$118.0M	$133.0M
YoY Change	-11.28%	-26.11%
Inventory
Prepaid Expenses
Receivables	$55.00M	$51.00M
Other Receivables	$731.0M	$674.0M
Total Short-Term Assets	$2.247B	$1.895B
YoY Change	18.58%	-23.62%
LONG-TERM ASSETS
Property, Plant & Equipment	$15.61B	$15.90B
YoY Change	-1.78%	0.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$231.0M	$196.0M
YoY Change	17.86%	28.95%
Other Assets	$1.024B	$913.0M
YoY Change	12.16%	-8.24%
Total Long-Term Assets	$16.87B	$17.00B
YoY Change	-0.8%	0.13%
TOTAL ASSETS
Total Short-Term Assets	$2.247B	$1.895B
Total Long-Term Assets	$16.87B	$17.00B
Total Assets	$19.11B	$18.90B
YoY Change	1.14%	-2.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$232.0M	$216.0M
YoY Change	7.41%	1.41%
Accrued Expenses	$179.0M	$156.0M
YoY Change	14.74%	9.86%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$524.0M	$484.0M
YoY Change	8.26%	3.64%
LONG-TERM LIABILITIES
Long-Term Debt	$10.05B	$10.74B
YoY Change	-6.44%	-6.99%
Other Long-Term Liabilities	$448.0M	$540.0M
YoY Change	-17.04%	-3.05%
Total Long-Term Liabilities	$10.50B	$11.28B
YoY Change	-6.95%	-6.81%
TOTAL LIABILITIES
Total Short-Term Liabilities	$524.0M	$484.0M
Total Long-Term Liabilities	$10.50B	$11.28B
Total Liabilities	$11.02B	$11.76B
YoY Change	-6.32%	-6.42%
SHAREHOLDERS EQUITY
Retained Earnings	-$711.2M	-$176.9M
YoY Change	301.99%	-191.91%
Common Stock	$1.535M	$1.531M
YoY Change	0.26%	0.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.722M	$2.722M
YoY Change	0.0%	0.0%
Treasury Stock Shares	78.90K shares	78.90K shares
Shareholders Equity	$5.783B	$5.691B
YoY Change
Total Liabilities & Shareholders Equity	$19.11B	$18.90B
YoY Change	1.14%	-2.9%

Cashflow Statement

Concept	2015 Q2	2014 Q2
OPERATING ACTIVITIES
Net Income	$79.46M	$76.53M
YoY Change	3.83%	-83.18%
Depreciation, Depletion And Amortization	$167.9M	$154.6M
YoY Change	8.6%	14.86%
Cash From Operating Activities	$241.7M	$184.8M
YoY Change	30.79%	89.73%
INVESTING ACTIVITIES
Capital Expenditures	-$147.6M	-$151.7M
YoY Change	-2.7%	-56.84%
Acquisitions
YoY Change
Other Investing Activities	$324.1M	-$47.70M
YoY Change	-779.45%	-114.36%
Cash From Investing Activities	$176.5M	-$199.5M
YoY Change	-188.47%	933.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-139.7M	-128.3M
YoY Change	8.89%	-120.65%
NET CHANGE
Cash From Operating Activities	241.7M	184.8M
Cash From Investing Activities	176.5M	-199.5M
Cash From Financing Activities	-139.7M	-128.3M
Net Change In Cash	278.5M	-143.0M
YoY Change	-294.76%	-120.45%
FREE CASH FLOW
Cash From Operating Activities	$241.7M	$184.8M
Capital Expenditures	-$147.6M	-$151.7M
Free Cash Flow	$389.3M	$336.5M
YoY Change	15.69%	-25.04%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2014Q4	bxp	Accrued Rental Income Allowance AccruedRentalIncomeAllowance	1499000	USD
CY2015Q2	bxp	Accrued Rental Income Allowance AccruedRentalIncomeAllowance	1219000	USD
	bxp	Additions To Real Estate Included In Accounts Payable And Accrued Expenses AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpenses	4831000	USD
	bxp	Additions To Real Estate Included In Accounts Payable And Accrued Expenses AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpenses	17604000	USD
	bxp	Adjustment To Reflect Redeemable Interest At Redemption Value AdjustmentToReflectRedeemableInterestAtRedemptionValue	6709000	USD
	bxp	Adjustment To Reflect Redeemable Interest At Redemption Value AdjustmentToReflectRedeemableInterestAtRedemptionValue	4465000	USD
	bxp	Amount Of Earthquake Insurance Provided By Ixp Llc As Direct Insurer San Francisco AmountOfEarthquakeInsuranceProvidedByIxpLlcAsDirectInsurerSanFrancisco	20000000	USD
CY2015Q1	bxp	Annual Aggregate Limit Of Earth Quake Insurance San Francisco AnnualAggregateLimitOfEarthQuakeInsuranceSanFrancisco	120000000	USD
	bxp	Annual Aggregate Limit Of Earth Quake Insurance San Francisco AnnualAggregateLimitOfEarthQuakeInsuranceSanFrancisco	170000000	USD
CY2015Q2	bxp	Area Of Undeveloped Land AreaOfUndevelopedLand	484.4	acre
	bxp	Cashplacedinescrowforlandsalecontracts Cashplacedinescrowforlandsalecontracts	0	USD
	bxp	Cashplacedinescrowforlandsalecontracts Cashplacedinescrowforlandsalecontracts	7111000	USD
	bxp	Cashreleasedfromscrowforlandsalecontracts Cashreleasedfromscrowforlandsalecontracts	0	USD
	bxp	Cashreleasedfromscrowforlandsalecontracts Cashreleasedfromscrowforlandsalecontracts	758000	USD
CY2015Q2	bxp	Common Stock Conversion Rate CommonStockConversionRate	1	shares
	bxp	Conversion Of Redeemable Preferred Units To Common Units ConversionOfRedeemablePreferredUnitsToCommonUnits	33306000	USD
	bxp	Conversion Of Redeemable Preferred Units To Common Units ConversionOfRedeemablePreferredUnitsToCommonUnits	0	USD
	bxp	Conversions Of Noncontrolling Interests To Stockholders Equity ConversionsOfNoncontrollingInterestsToStockholdersEquity	-2241000	USD
	bxp	Conversions Of Noncontrolling Interests To Stockholders Equity ConversionsOfNoncontrollingInterestsToStockholdersEquity	-10843000	USD
CY2014Q2	bxp	Development And Management Services DevelopmentAndManagementServices	6506000	USD
	bxp	Development And Management Services DevelopmentAndManagementServices	11722000	USD
CY2015Q2	bxp	Development And Management Services DevelopmentAndManagementServices	4862000	USD
	bxp	Development And Management Services DevelopmentAndManagementServices	10190000	USD
CY2014Q2	bxp	Dilutive Securities Per Share Amount DilutiveSecuritiesPerShareAmount	0.00
	bxp	Dilutive Securities Per Share Amount DilutiveSecuritiesPerShareAmount	0.00
CY2015Q2	bxp	Dilutive Securities Per Share Amount DilutiveSecuritiesPerShareAmount	0.00
	bxp	Dilutive Securities Per Share Amount DilutiveSecuritiesPerShareAmount	0.00
	bxp	Distributions On Redeemable Property Partnership DistributionsOnRedeemablePropertyPartnership	-2300000	USD
	bxp	Distributions On Redeemable Property Partnership DistributionsOnRedeemablePropertyPartnership	-2900000	USD
	bxp	Earnings Per Share After Allccationof Undistributed Earningsto Particiapting Securities Basicdollarspershare EarningsPerShareAfterAllccationofUndistributedEarningstoParticiaptingSecuritiesBasicdollarspershare	1.63
	bxp	Earthquake Coverage Included In Builders Risk Policy For Improvementsfor Salesforce Tower EarthquakeCoverageIncludedInBuildersRiskPolicyForImprovementsforSalesforceTower	60000000	USD
	bxp	Earthquake Deductible Insurance Percentage Of Value Of Affected Property San Francisco EarthquakeDeductibleInsurancePercentageOfValueOfAffectedPropertySanFrancisco	0.05
	bxp	Equity Profit Loss EquityProfitLoss	156249000	USD
	bxp	Equity Profit Loss EquityProfitLoss	305462000	USD
CY2014Q4	bxp	Excess Stock Par Or Stated Value Per Share ExcessStockParOrStatedValuePerShare	0.01
CY2015Q2	bxp	Excess Stock Par Or Stated Value Per Share ExcessStockParOrStatedValuePerShare	0.01
CY2014Q4	bxp	Excess Stock Value ExcessStockValue	0	USD
CY2015Q2	bxp	Excess Stock Value ExcessStockValue	0	USD
CY2015Q2	bxp	Inlieuofacashredemption O Punitto Common Stockconversion InlieuofacashredemptionOPunittoCommonStockconversion	1	shares
CY2015Q2	bxp	Insurance Policy Limit InsurancePolicyLimit	1000000000	USD
	bxp	Issuance Of Restricted Securities To Employees And Directors IssuanceOfRestrictedSecuritiesToEmployeesAndDirectors	27445000	USD
	bxp	Issuance Of Restricted Securities To Employees And Directors IssuanceOfRestrictedSecuritiesToEmployeesAndDirectors	43363000	USD
CY2015Q2	bxp	Letter Of Credit And Performance Obligation LetterOfCreditAndPerformanceObligation	23500000	USD
	bxp	Minority Interest Decrease From Distributions To Noncontrolling Interest Holdersto Property Partnerships MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolderstoPropertyPartnerships	12149000	USD
	bxp	Minority Interest Decrease From Distributions To Noncontrolling Interest Holdersto Property Partnerships MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolderstoPropertyPartnerships	34022000	USD
	bxp	Net Activity From Stock Option And Incentive Plan Value NetActivityFromStockOptionAndIncentivePlanValue	16442000	USD
	bxp	Net Activity From Stock Option And Incentive Plan Value NetActivityFromStockOptionAndIncentivePlanValue	27562000	USD
	bxp	Net Income Loss Available To Common Stockholders After Allocationof Undistributed Earningsto Participating Securities Basic NetIncomeLossAvailableToCommonStockholdersAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasic	250553000	USD
	bxp	Net Loss For Redeemable Interest In Property Partnership NetLossForRedeemableInterestInPropertyPartnership	-240000	USD
	bxp	Net Loss For Redeemable Interest In Property Partnership NetLossForRedeemableInterestInPropertyPartnership	-24000	USD
CY2015Q2	bxp	Number Of Series Of Preferred Units Outstanding NumberOfSeriesOfPreferredUnitsOutstanding	1	shares
CY2015Q2	bxp	Op Unit Conversion Rate OpUnitConversionRate	1	shares
CY2014Q2	bxp	Operating Income Loss From Reportable Segments OperatingIncomeLossFromReportableSegments	373327000	USD
	bxp	Operating Income Loss From Reportable Segments OperatingIncomeLossFromReportableSegments	729620000	USD
CY2015Q2	bxp	Operating Income Loss From Reportable Segments OperatingIncomeLossFromReportableSegments	390400000	USD
	bxp	Operating Income Loss From Reportable Segments OperatingIncomeLossFromReportableSegments	774622000	USD
CY2015Q2	bxp	Operating Partnership Guarantee To Cover Liabilities Of Subsidiary OperatingPartnershipGuaranteeToCoverLiabilitiesOfSubsidiary	20000000	USD
	bxp	Other Preferred Stock Dividends And Adjustmentsinshares OtherPreferredStockDividendsAndAdjustmentsinshares	0	shares
	bxp	Other Preferred Stock Dividends And Adjustmentspershare OtherPreferredStockDividendsAndAdjustmentspershare	0
CY2014Q4	bxp	Outsidemembersnotespayable Outsidemembersnotespayable	180000000	USD
CY2015Q2	bxp	Outsidemembersnotespayable Outsidemembersnotespayable	180000000	USD
	bxp	Paymentsforredemptionofpreferredunits Paymentsforredemptionofpreferredunits	0	USD
	bxp	Paymentsforredemptionofpreferredunits Paymentsforredemptionofpreferredunits	-633000	USD
	bxp	Paymentsonrealestatetransaction Paymentsonrealestatetransaction	0	USD
	bxp	Paymentsonrealestatetransaction Paymentsonrealestatetransaction	1523000	USD
	bxp	Per Occurrence Limit For Nbcr Coverage PerOccurrenceLimitForNbcrCoverage	1000000000	USD
CY2015Q1	bxp	Per Occurrence Limit Of Earth Quake Insurance San Francisco PerOccurrenceLimitOfEarthQuakeInsuranceSanFrancisco	120000000	USD
	bxp	Per Occurrence Limit Of Earth Quake Insurance San Francisco PerOccurrenceLimitOfEarthQuakeInsuranceSanFrancisco	170000000	USD
CY2014Q2	bxp	Percentage Of Total Net Operating Income PercentageOfTotalNetOperatingIncome	1.0000
	bxp	Percentage Of Total Net Operating Income PercentageOfTotalNetOperatingIncome	1.0000
CY2015Q2	bxp	Percentage Of Total Net Operating Income PercentageOfTotalNetOperatingIncome	1.0000
	bxp	Percentage Of Total Net Operating Income PercentageOfTotalNetOperatingIncome	1.0000
CY2014Q2	bxp	Percentage Of Total Rental Expenses PercentageOfTotalRentalExpenses	1.0000
	bxp	Percentage Of Total Rental Expenses PercentageOfTotalRentalExpenses	1.0000
CY2015Q2	bxp	Percentage Of Total Rental Expenses PercentageOfTotalRentalExpenses	1.0000
	bxp	Percentage Of Total Rental Expenses PercentageOfTotalRentalExpenses	1.0000
CY2014Q2	bxp	Percentage Of Total Revenue PercentageOfTotalRevenue	1.0000
	bxp	Percentage Of Total Revenue PercentageOfTotalRevenue	1.0000
CY2015Q2	bxp	Percentage Of Total Revenue PercentageOfTotalRevenue	1.0000
	bxp	Percentage Of Total Revenue PercentageOfTotalRevenue	1.0000
	bxp	Proceedsfromrealestatetransaction Proceedsfromrealestatetransaction	0	USD
	bxp	Proceedsfromrealestatetransaction Proceedsfromrealestatetransaction	6000000	USD
	bxp	Program Trigger Coinsurance ProgramTriggerCoinsurance	0.15
CY2015Q2	bxp	Program Trigger Value ProgramTriggerValue	100000000	USD
CY2014Q2	bxp	Rental Expenses Class Office RentalExpensesClassOffice	194543000	USD
	bxp	Transaction Costs Expensed TransactionCostsExpensed	1098000	USD
	bxp	Rental Expenses Class Office RentalExpensesClassOffice	393064000	USD
CY2015Q2	bxp	Rental Expenses Class Office RentalExpensesClassOffice	209131000	USD
	bxp	Rental Expenses Class Office RentalExpensesClassOffice	422846000	USD
CY2014Q2	bxp	Rental Expenses Office Technical RentalExpensesOfficeTechnical	4167000	USD
	bxp	Rental Expenses Office Technical RentalExpensesOfficeTechnical	8272000	USD
CY2015Q2	bxp	Rental Expenses Office Technical RentalExpensesOfficeTechnical	3802000	USD
	bxp	Rental Expenses Office Technical RentalExpensesOfficeTechnical	7891000	USD
CY2014Q2	bxp	Rental Expenses Operating Expenses Total RentalExpensesOperatingExpensesTotal	209961000	USD
	bxp	Rental Expenses Operating Expenses Total RentalExpensesOperatingExpensesTotal	423146000	USD
CY2015Q2	bxp	Rental Expenses Operating Expenses Total RentalExpensesOperatingExpensesTotal	222959000	USD
	bxp	Rental Expenses Operating Expenses Total RentalExpensesOperatingExpensesTotal	451885000	USD
CY2014Q2	bxp	Rental Expenses Residential RentalExpensesResidential	3936000	USD
	bxp	Rental Expenses Residential RentalExpensesResidential	7698000	USD
CY2015Q2	bxp	Rental Expenses Residential RentalExpensesResidential	1531000	USD
	bxp	Rental Expenses Residential RentalExpensesResidential	5077000	USD
CY2014Q2	bxp	Rental Revenue Class Office RentalRevenueClassOffice	548699000	USD
	bxp	Rental Revenue Class Office RentalRevenueClassOffice	1088605000	USD
CY2015Q2	bxp	Rental Revenue Class Office RentalRevenueClassOffice	581596000	USD
	bxp	Rental Revenue Class Office RentalRevenueClassOffice	1163984000	USD
CY2014Q2	bxp	Rental Revenue Office Technical RentalRevenueOfficeTechnical	15924000	USD
	bxp	Rental Revenue Office Technical RentalRevenueOfficeTechnical	31621000	USD
CY2015Q2	bxp	Rental Revenue Office Technical RentalRevenueOfficeTechnical	14549000	USD
	bxp	Rental Revenue Office Technical RentalRevenueOfficeTechnical	29370000	USD
CY2014Q2	bxp	Rental Revenue Residential RentalRevenueResidential	6298000	USD
	bxp	Rental Revenue Residential RentalRevenueResidential	11980000	USD
CY2015Q2	bxp	Rental Revenue Residential RentalRevenueResidential	3811000	USD
	bxp	Rental Revenue Residential RentalRevenueResidential	10665000	USD
CY2014Q2	bxp	Rental Revenue Total RentalRevenueTotal	583288000	USD
	bxp	Rental Revenue Total RentalRevenueTotal	1152766000	USD
CY2015Q2	bxp	Rental Revenue Total RentalRevenueTotal	613359000	USD
	bxp	Rental Revenue Total RentalRevenueTotal	1226507000	USD
CY2015Q2	bxp	Restriction On Redemption Of Op Units From Date Of Issuance In Years RestrictionOnRedemptionOfOpUnitsFromDateOfIssuanceInYears	1	Y
	bxp	Settlement Of Accreted Debt Discount On Repurchases Of Unsecured Exchangeable Senior Notes SettlementOfAccretedDebtDiscountOnRepurchasesOfUnsecuredExchangeableSeniorNotes	-92979000	USD
	bxp	Settlement Of Accreted Debt Discount On Repurchases Of Unsecured Exchangeable Senior Notes SettlementOfAccretedDebtDiscountOnRepurchasesOfUnsecuredExchangeableSeniorNotes	0	USD
CY2015Q2	bxp	Square Feet For Parking SquareFeetForParking	14700000	sqft
CY2014Q2	bxp	Stock Based Compensation And Exchangeable Senior Notes Shares StockBasedCompensationAndExchangeableSeniorNotesShares	160000	shares
	bxp	Stock Based Compensation And Exchangeable Senior Notes Shares StockBasedCompensationAndExchangeableSeniorNotesShares	149000	shares
CY2015Q2	bxp	Stock Based Compensation And Exchangeable Senior Notes Shares StockBasedCompensationAndExchangeableSeniorNotesShares	365000	shares
	bxp	Stock Based Compensation And Exchangeable Senior Notes Shares StockBasedCompensationAndExchangeableSeniorNotesShares	504000	shares
CY2013Q4	bxp	Temporary Equity Carrying Amount Redeemable Interest In Property Partnerships TemporaryEquityCarryingAmountRedeemableInterestInPropertyPartnerships	99609000	USD
CY2014Q2	bxp	Temporary Equity Carrying Amount Redeemable Interest In Property Partnerships TemporaryEquityCarryingAmountRedeemableInterestInPropertyPartnerships	103778000	USD
CY2014Q4	bxp	Temporary Equity Carrying Amount Redeemable Interest In Property Partnerships TemporaryEquityCarryingAmountRedeemableInterestInPropertyPartnerships	104692000	USD
CY2015Q2	bxp	Temporary Equity Carrying Amount Redeemable Interest In Property Partnerships TemporaryEquityCarryingAmountRedeemableInterestInPropertyPartnerships	106233000	USD
	bxp	Tenant Leasing Costs TenantLeasingCosts	-44989000	USD
	bxp	Tenant Leasing Costs TenantLeasingCosts	-43004000	USD
CY2014Q2	bxp	Transaction Costs Expensed TransactionCostsExpensed	661000	USD
CY2015Q2	bxp	Transaction Costs Expensed TransactionCostsExpensed	208000	USD
	bxp	Transaction Costs Expensed TransactionCostsExpensed	535000	USD
CY2015Q2	bxp	Vehicles In Structured Parking VehiclesInStructuredParking	43341	Vehicles
	bxp	Weighted Average Number Of Shares Outstanding After Allocationof Undistributed Earningsto Participating Securities Basicinshares WeightedAverageNumberOfSharesOutstandingAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasicinshares	153341000	shares
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
	dei	Document Period End Date DocumentPeriodEndDate	2015-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001037540
CY2015Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	153573619	shares
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	BOSTON PROPERTIES INC
CY2014Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	243263000	USD
CY2015Q2	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	231900000	USD
CY2014Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	46595000	USD
CY2015Q2	us-gaap	Accounts Receivable Net AccountsReceivableNet	55183000	USD
CY2013Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-11556000	USD
CY2014Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-10429000	USD
CY2014Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-9304000	USD
CY2015Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	1848000	USD
CY2014Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	6270257000	USD
CY2015Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	6293556000	USD
	us-gaap	Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities	145336000	USD
	us-gaap	Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities	133167000	USD
CY2014Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6200000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16000000	USD
CY2015Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5100000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	15200000	USD
CY2014Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	1142000	USD
CY2015Q2	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	1061000	USD
CY2014Q4	us-gaap	Assets Assets	19886767000	USD
CY2015Q2	us-gaap	Assets Assets	19113959000	USD
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2365137000	USD
CY2014Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1036576000	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1763079000	USD
CY2015Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1342751000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-1328561000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-420328000	USD
CY2014Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies	0	USD
CY2015Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies	0	USD
CY2015Q1	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	5.15
CY2015Q2	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.65
CY2014Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2015Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2014Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000	shares
CY2015Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000	shares
CY2014Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	153192845	shares
CY2015Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	153552831	shares
CY2014Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	153113945	shares
CY2015Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	153473931	shares
CY2014Q4	us-gaap	Common Stock Value CommonStockValue	1531000	USD
CY2015Q2	us-gaap	Common Stock Value CommonStockValue	1535000	USD
CY2014Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	79705000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	136928000	USD
CY2015Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	95833000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	267053000	USD
CY2014Q2	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	16756000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	27856000	USD
CY2015Q2	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	18661000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	54008000	USD
CY2014Q2	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	96525000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	164910000	USD
CY2015Q2	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	117006000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	323270000	USD
	us-gaap	Construction And Development Costs ConstructionAndDevelopmentCosts	-206603000	USD
	us-gaap	Construction And Development Costs ConstructionAndDevelopmentCosts	-154430000	USD
CY2014Q4	us-gaap	Construction In Progress Gross ConstructionInProgressGross	736311000	USD
CY2015Q2	us-gaap	Construction In Progress Gross ConstructionInProgressGross	880996000	USD
	us-gaap	Conversion Of Stock Shares Issued1 ConversionOfStockSharesIssued1	321700	shares
CY2014Q2	us-gaap	Costs And Expenses CostsAndExpenses	388521000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	786318000	USD
CY2015Q2	us-gaap	Costs And Expenses CostsAndExpenses	413295000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	825562000	USD
CY2014Q4	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	12296000	USD
CY2015Q2	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	11497000	USD
	us-gaap	Decrease In Restricted Cash DecreaseInRestrictedCash	0	USD
	us-gaap	Decrease In Restricted Cash DecreaseInRestrictedCash	441903000	USD
CY2014Q4	us-gaap	Deferred Costs DeferredCosts	831744000	USD
CY2015Q2	us-gaap	Deferred Costs DeferredCosts	771419000	USD
CY2014Q4	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	691999000	USD
CY2015Q2	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	730797000	USD
CY2014Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	154628000	USD
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	308898000	USD
CY2015Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	167844000	USD
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	322067000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	308898000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	322067000	USD
CY2014Q2	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-624000	USD
	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-1253000	USD
CY2015Q2	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-628000	USD
CY2015Q2	us-gaap	Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet	0	USD
	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-1255000	USD
CY2014Q2	us-gaap	Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet	0	USD
	us-gaap	Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet	0	USD
	us-gaap	Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet	0	USD
CY2014Q2	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	0	USD
	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	0	USD
CY2015Q2	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	15639000	USD
	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	12106000	USD
CY2014Q2	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
CY2015Q2	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
CY2014Q2	us-gaap	Direct Costs Of Hotels DirectCostsOfHotels	7315000	USD
	us-gaap	Direct Costs Of Hotels DirectCostsOfHotels	14112000	USD
CY2015Q2	us-gaap	Direct Costs Of Hotels DirectCostsOfHotels	8495000	USD
	us-gaap	Direct Costs Of Hotels DirectCostsOfHotels	16071000	USD
CY2014Q2	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	202646000	USD
	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	409034000	USD
CY2015Q2	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	214464000	USD
	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	435814000	USD
	us-gaap	Dividends Dividends	226851000	USD
	us-gaap	Dividends Dividends	228254000	USD
CY2015Q2	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	0.65
CY2014Q2	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	112420000	USD
CY2014Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	882472000	USD
CY2015Q2	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	112892000	USD
CY2014Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.50
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.85
CY2015Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.52
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.63
CY2014Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.50
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.85
CY2015Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.52
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.63
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	2205000	USD
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	5769000	USD
CY2014Q4	us-gaap	Excess Stock Shares Authorized ExcessStockSharesAuthorized	150000000	shares
CY2015Q2	us-gaap	Excess Stock Shares Authorized ExcessStockSharesAuthorized	150000000	shares
CY2014Q4	us-gaap	Excess Stock Shares Issued ExcessStockSharesIssued	0	shares
CY2015Q2	us-gaap	Excess Stock Shares Issued ExcessStockSharesIssued	0	shares
CY2014Q4	us-gaap	Excess Stock Shares Outstanding ExcessStockSharesOutstanding	0	shares
CY2015Q2	us-gaap	Excess Stock Shares Outstanding ExcessStockSharesOutstanding	0	shares
CY2014Q2	us-gaap	Gain Loss On Investments GainLossOnInvestments	662000	USD
	us-gaap	Gain Loss On Investments GainLossOnInvestments	948000	USD
CY2015Q2	us-gaap	Gain Loss On Investments GainLossOnInvestments	-24000	USD
	us-gaap	Gain Loss On Investments GainLossOnInvestments	369000	USD
	us-gaap	Gain Loss On Sale Of Investments GainLossOnSaleOfInvestments	948000	USD
	us-gaap	Gain Loss On Sale Of Investments GainLossOnSaleOfInvestments	369000	USD
	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	95084000	USD
CY2014Q2	us-gaap	Gain Loss On Sale Of Properties Before Applicable Income Taxes GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes	0	USD
	us-gaap	Gain Loss On Sale Of Properties Before Applicable Income Taxes GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes	0	USD
CY2015Q2	us-gaap	Gain Loss On Sale Of Properties Before Applicable Income Taxes GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes	0	USD
	us-gaap	Gain Loss On Sale Of Properties Before Applicable Income Taxes GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes	95084000	USD
CY2014Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	23271000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	53176000	USD
CY2015Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	22284000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	51075000	USD
CY2014Q2	us-gaap	Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges	95901000	USD
	us-gaap	Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges	163657000	USD
CY2015Q2	us-gaap	Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges	100739000	USD
	us-gaap	Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges	214825000	USD
CY2014Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2834000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	5650000	USD
CY2015Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	3078000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	17912000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-4704000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-5973000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-8116000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	8588000	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-11499000	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	15016000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-39253000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-56580000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-51442000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-63545000	USD
	us-gaap	Increase Decrease In Restricted Cash For Operating Activities IncreaseDecreaseInRestrictedCashForOperatingActivities	2047000	USD
	us-gaap	Increase Decrease In Restricted Cash For Operating Activities IncreaseDecreaseInRestrictedCashForOperatingActivities	175000	USD
	us-gaap	Increase In Restricted Cash IncreaseInRestrictedCash	0	USD
	us-gaap	Increase In Restricted Cash IncreaseInRestrictedCash	200612000	USD
CY2014Q2	us-gaap	Interest And Other Income InterestAndOtherIncome	2109000	USD
	us-gaap	Interest And Other Income InterestAndOtherIncome	3420000	USD
CY2015Q2	us-gaap	Interest And Other Income InterestAndOtherIncome	1293000	USD
	us-gaap	Interest And Other Income InterestAndOtherIncome	2700000	USD
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	32586000	USD
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	16815000	USD
CY2014Q2	us-gaap	Interest Expense InterestExpense	110977000	USD
	us-gaap	Interest Expense InterestExpense	224531000	USD
CY2015Q2	us-gaap	Interest Expense InterestExpense	108534000	USD
	us-gaap	Interest Expense InterestExpense	217291000	USD
	us-gaap	Interest Paid InterestPaid	379766000	USD
	us-gaap	Interest Paid InterestPaid	240942000	USD
CY2014Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	163532000	USD
CY2015Q2	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	178548000	USD
CY2014Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	193394000	USD
CY2015Q2	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	209974000	USD
CY2014Q4	us-gaap	Land Available For Development LandAvailableForDevelopment	268114000	USD
CY2015Q2	us-gaap	Land Available For Development LandAvailableForDevelopment	277327000	USD
CY2014Q4	us-gaap	Liabilities Liabilities	11878506000	USD
CY2015Q2	us-gaap	Liabilities Liabilities	11019279000	USD
CY2014Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	19886767000	USD
CY2015Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	19113959000	USD
CY2014	us-gaap	Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest	0.895
	us-gaap	Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest	0.895
CY2014Q4	us-gaap	Line Of Credit LineOfCredit	0	USD
CY2015Q2	us-gaap	Line Of Credit LineOfCredit	0	USD
CY2014Q4	us-gaap	Marketable Securities MarketableSecurities	19459000	USD
CY2015Q2	us-gaap	Marketable Securities MarketableSecurities	20953000	USD
CY2014Q4	us-gaap	Minority Interest In Limited Partnerships MinorityInterestInLimitedPartnerships	1602467000	USD
CY2015Q2	us-gaap	Minority Interest In Limited Partnerships MinorityInterestInLimitedPartnerships	1590481000	USD
CY2014Q4	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	603171000	USD
CY2015Q2	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	614988000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1290983000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1042569000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-346571000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	179165000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	308993000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	443076000	USD
CY2014Q2	us-gaap	Net Income Loss NetIncomeLoss	79145000	USD
	us-gaap	Net Income Loss NetIncomeLoss	135801000	USD
CY2015Q2	us-gaap	Net Income Loss NetIncomeLoss	82078000	USD
	us-gaap	Net Income Loss NetIncomeLoss	255901000	USD
CY2014Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	76527000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	130594000	USD
CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	79460000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	250694000	USD
CY2014Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	76527000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	130594000	USD
CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	79460000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	250553000	USD
CY2014Q2	us-gaap	Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable	7553000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable	11907000	USD
CY2015Q2	us-gaap	Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable	9264000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable	24472000	USD
CY2014Q2	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	8883000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	15010000	USD
CY2015Q2	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	9394000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	29530000	USD
CY2014Q2	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	320000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	939000	USD
CY2015Q2	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	3000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	6000	USD
	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	0	USD
CY2014Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	201273000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	378170000	USD
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	204926000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	411135000	USD
CY2014Q2	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	463239000	USD
	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	918257000	USD
CY2015Q2	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	486609000	USD
	us-gaap	Operating Leases Income Statement Lease Revenue OperatingLeasesIncomeStatementLeaseRevenue	977291000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	12106000	USD
CY2014Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	624000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	1253000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	16267000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	13361000	USD
	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	1253000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest	126000	USD
	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	1255000	USD
CY2014Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest	64000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest	2512000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest	2209000	USD
CY2014Q2	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	-624000	USD
	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	-1253000	USD
CY2015Q2	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	-628000	USD
	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	-1255000	USD
CY2014Q2	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	0	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	0	USD
CY2015Q2	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	15639000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	12106000	USD
CY2014Q4	us-gaap	Other Liabilities OtherLiabilities	502255000	USD
CY2015Q2	us-gaap	Other Liabilities OtherLiabilities	448480000	USD
	us-gaap	Other Preferred Stock Dividends And Adjustments OtherPreferredStockDividendsAndAdjustments	141000	USD
	us-gaap	Paid In Kind Interest PaidInKindInterest	-18171000	USD
	us-gaap	Paid In Kind Interest PaidInKindInterest	-21852000	USD
CY2014Q2	us-gaap	Parking Revenue ParkingRevenue	26300000	USD
	us-gaap	Parking Revenue ParkingRevenue	50633000	USD
CY2015Q2	us-gaap	Parking Revenue ParkingRevenue	26552000	USD
	us-gaap	Parking Revenue ParkingRevenue	51340000	USD
	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	37285000	USD
	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	48133000	USD
	us-gaap	Payments For Proceeds From Deposits On Real Estate Acquisitions PaymentsForProceedsFromDepositsOnRealEstateAcquisitions	0	USD
	us-gaap	Payments For Proceeds From Deposits On Real Estate Acquisitions PaymentsForProceedsFromDepositsOnRealEstateAcquisitions	5000000	USD
	us-gaap	Payments For Tenant Improvements PaymentsForTenantImprovements	53935000	USD
	us-gaap	Payments For Tenant Improvements PaymentsForTenantImprovements	51444000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	612612000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	997840000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	31000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	163000	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	47767000	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	14989000	USD
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	1338000	USD
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	1125000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	14449000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	36922000	USD
CY2014Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	2618000	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	5207000	USD
CY2015Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	2618000	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	5207000	USD
CY2014Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2014Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2015Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2014Q4	us-gaap	Preferred Stock Value PreferredStockValue	200000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	332000	USD
CY2015Q2	us-gaap	Preferred Stock Value PreferredStockValue	200000000	USD
CY2014Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	164432000	USD
CY2015Q2	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	117993000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	1162000	USD
	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	1675000	USD
	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	1089000	USD
	us-gaap	Proceeds From Payments To Minority Shareholders ProceedsFromPaymentsToMinorityShareholders	1675000	USD
	us-gaap	Proceeds From Payments To Minority Shareholders ProceedsFromPaymentsToMinorityShareholders	1089000	USD
	us-gaap	Proceeds From Sale Of Equity Method Investments ProceedsFromSaleOfEquityMethodInvestments	357000	USD
	us-gaap	Proceeds From Sale Of Equity Method Investments ProceedsFromSaleOfEquityMethodInvestments	24527000	USD
	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	0	USD
	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	194821000	USD
CY2014Q2	us-gaap	Profit Loss ProfitLoss	95901000	USD
	us-gaap	Profit Loss ProfitLoss	163657000	USD
CY2015Q2	us-gaap	Profit Loss ProfitLoss	100739000	USD
	us-gaap	Profit Loss ProfitLoss	309909000	USD
	us-gaap	Quantifying Misstatement In Current Year Financial Statements Amount QuantifyingMisstatementInCurrentYearFinancialStatementsAmount	2400000	USD
CY2014Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	3547659000	USD
CY2015Q2	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	3753926000	USD
CY2014Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	18231978000	USD
CY2015Q2	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	18207934000	USD
CY2014Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	15688744000	USD
CY2015Q2	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	15612331000	USD
CY2014Q2	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	570921000	USD
	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	1132206000	USD
CY2015Q2	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	599956000	USD
	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	1204019000	USD
CY2014Q4	us-gaap	Redeemable Noncontrolling Interest Equity Carrying Amount RedeemableNoncontrollingInterestEquityCarryingAmount	633000	USD
CY2015Q2	us-gaap	Redeemable Noncontrolling Interest Equity Carrying Amount RedeemableNoncontrollingInterestEquityCarryingAmount	0	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	654521000	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	0	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	12207000	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	12909000	USD
CY2014Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	487321000	USD
CY2015Q2	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	252558000	USD
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-762464000	USD
CY2015Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-711239000	USD
CY2014Q2	us-gaap	Revenue From Leased And Owned Hotels RevenueFromLeasedAndOwnedHotels	12367000	USD
	us-gaap	Revenue From Leased And Owned Hotels RevenueFromLeasedAndOwnedHotels	20560000	USD
CY2015Q2	us-gaap	Revenue From Leased And Owned Hotels RevenueFromLeasedAndOwnedHotels	13403000	USD
	us-gaap	Revenue From Leased And Owned Hotels RevenueFromLeasedAndOwnedHotels	22488000	USD
CY2014Q2	us-gaap	Revenues Revenues	589794000	USD
	us-gaap	Revenues Revenues	1164488000	USD
CY2015Q2	us-gaap	Revenues Revenues	618221000	USD
	us-gaap	Revenues Revenues	1236697000	USD
CY2014Q4	us-gaap	Secured Debt SecuredDebt	4309484000	USD
CY2015Q2	us-gaap	Secured Debt SecuredDebt	4269808000	USD
CY2014Q4	us-gaap	Senior Notes SeniorNotes	5287704000	USD
CY2015Q2	us-gaap	Senior Notes SeniorNotes	5288503000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	16899000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	16480000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	11447	shares
	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	0	USD
	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	357000	USD
	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	313000	USD
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	5697298000	USD
CY2015Q2	us-gaap	Stockholders Equity StockholdersEquity	5782978000	USD
CY2013Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7043618000	USD
CY2014Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7013900000	USD
CY2014Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7902936000	USD
CY2015Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7988447000	USD
	us-gaap	Straight Line Rent StraightLineRent	21984000	USD
	us-gaap	Straight Line Rent StraightLineRent	40173000	USD
CY2014Q4	us-gaap	Subordinated Debt SubordinatedDebt	309796000	USD
CY2015Q2	us-gaap	Subordinated Debt SubordinatedDebt	309148000	USD
CY2014Q2	us-gaap	Tenant Reimbursements TenantReimbursements	81382000	USD
	us-gaap	Tenant Reimbursements TenantReimbursements	163316000	USD
CY2015Q2	us-gaap	Tenant Reimbursements TenantReimbursements	86795000	USD
	us-gaap	Tenant Reimbursements TenantReimbursements	175388000	USD
CY2014Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	78900	shares
CY2015Q2	us-gaap	Treasury Stock Shares TreasuryStockShares	78900	shares
CY2014Q4	us-gaap	Treasury Stock Value TreasuryStockValue	2722000	USD
CY2015Q2	us-gaap	Treasury Stock Value TreasuryStockValue	2722000	USD
CY2014Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	153238000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	153203000	shares
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	153815000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	153845000	shares
CY2014Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	153078000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	153054000	shares
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	153450000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	153341000	shares
	bxp	Schedule Of Statements Of Operations Of Unconsolidated Joint Ventures Text Bock ScheduleOfStatementsOfOperationsOfUnconsolidatedJointVenturesTextBock	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The combined summarized statements of operations of the Company's unconsolidated joint ventures are as follows:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;"> </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.828125%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td width="54%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="8%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="8%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="8%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="4%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="8%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended June 30,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the six months ended June 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenue (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,152</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,437</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78,684</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,471</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,824</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,461</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,099</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,925</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,951</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,167</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,022</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,259</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,775</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,628</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,121</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49,184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,377</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,809</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,563</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27,287</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other expense</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,986</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,984</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,966</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,996</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,391</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,825</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,597</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company’s share of net income </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,902</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,578</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,544</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,203</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basis differential</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">176</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">256</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">368</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">447</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income from unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,078</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,834</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,650</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> _______________ </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes straight-line rent adjustments of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.3 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;">, respectively, and approximately </font><font style="font-family:inherit;font-size:10pt;">$2.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.9 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">six months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;">. Includes net above-/below-market rent adjustments of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$(0.1) million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$(0.1) million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;">, respectively, and approximately </font><font style="font-family:inherit;font-size:10pt;">$(0.1) million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.0 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">six months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the </font><font style="font-family:inherit;font-size:10pt;">six months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company received a distribution of approximately </font><font style="font-family:inherit;font-size:10pt;">$24.5 million</font><font style="font-family:inherit;font-size:10pt;">, which was generated from the excess loan proceeds from the refinancing of 901 New York Avenue's mortgage loan to a new </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;">-year mortgage loan totaling </font><font style="font-family:inherit;font-size:10pt;">$225.0 million</font><font style="font-family:inherit;font-size:10pt;">.  The Company’s allocation of income and distributions for the </font><font style="font-family:inherit;font-size:10pt;">six months ended June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> was not proportionate to its nominal ownership interest as a result of the achievement of specified investment return thresholds, as provided for in the joint venture agreement.</font></div></td></tr></table></div>

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$BXP
BXP, Inc. Stock $bxp

2015 Q2 Form 10-Q Financial Statement

#000119312515282990 Filed on August 07, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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$BXP BXP, Inc. Stock $bxp

2015 Q2 Form 10-Q Financial Statement

#000119312515282990 Filed on August 07, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$BXP
BXP, Inc. Stock $bxp