v3.19.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Real estate:    
Land and land improvements $ 1,339,483 $ 1,236,514
Building and improvements 4,612,859 4,397,049
Less accumulated depreciation (1,004,624) (941,299)
Operating real estate 4,947,718 4,692,264
Development in progress 416,035 462,572
Land held for development 303,135 296,244
Net real estate 5,666,888 5,451,080
Cash and cash equivalents 21,039 84,923
Restricted cash 17,392 10,899
Accounts receivable 12,458 14,109
Deferred rent receivable 118,230 111,372
Deferred financing and leasing costs, net of accumulated amortization (June 30, 2019, $183,418; December 31, 2018, $165,553) 163,566 157,823
Investments in and advances to unconsolidated joint ventures 350,768 350,981
Assets held for sale 386,726 502,207
Right of use asset 17,931 0
Prepaid expenses and other assets 127,261 251,000
Total assets 6,882,259 6,934,394
LIABILITIES    
Mortgage loans, net 351,493 395,202
Unsecured notes, net 2,632,881 2,285,698
Credit facilities 100,000 411,846
Accounts payable 46,405 62,943
Accrued interest 28,021 22,309
Dividend and distributions payable 62,241 60,560
Lease liabilities 18,617 0
Other liabilities 200,867 270,396
Liabilities held for sale 19,033 21,131
Total liabilities 3,459,558 3,530,085
Noncontrolling interest - operating partnership - 213,483 and 301,483 preferred units outstanding as of June 30, 2019 and December 31, 2018, respectively 5,337 7,537
EQUITY    
Common shares of beneficial interest, $.001 par value, 283,987,000 shares authorized; 148,297,283 and 147,899,354 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively 148 148
Additional paid-in capital 3,687,085 3,691,778
Accumulated other comprehensive loss (57,674) (55,243)
Distributions in excess of net income (274,311) (306,822)
Total Liberty Property Trust shareholders’ equity 3,355,248 3,329,861
Noncontrolling interest - operating partnership    
Noncontrolling interest – operating partnership - 3,513,049 and 3,520,205 common units outstanding as of June 30, 2019 and December 31, 2018, respectively 61,839 61,471
Noncontrolling interest – consolidated joint ventures 277 5,440
Total equity 3,417,364 3,396,772
Total liabilities, noncontrolling interest - operating partnership and equity 6,882,259 6,934,394
Liberty Property Limited Partnership    
Real estate:    
Land and land improvements 1,339,483 1,236,514
Building and improvements 4,612,859 4,397,049
Less accumulated depreciation (1,004,624) (941,299)
Operating real estate 4,947,718 4,692,264
Development in progress 416,035 462,572
Land held for development 303,135 296,244
Net real estate 5,666,888 5,451,080
Cash and cash equivalents 21,039 84,923
Restricted cash 17,392 10,899
Accounts receivable 12,458 14,109
Deferred rent receivable 118,230 111,372
Deferred financing and leasing costs, net of accumulated amortization (June 30, 2019, $183,418; December 31, 2018, $165,553) 163,566 157,823
Investments in and advances to unconsolidated joint ventures 350,768 350,981
Assets held for sale 386,726 502,207
Right of use asset 17,931 0
Prepaid expenses and other assets 127,261 251,000
Total assets 6,882,259 6,934,394
LIABILITIES    
Mortgage loans, net 351,493 395,202
Unsecured notes, net 2,632,881 2,285,698
Credit facilities 100,000 411,846
Accounts payable 46,405 62,943
Accrued interest 28,021 22,309
Dividend and distributions payable 62,241 60,560
Lease liabilities 18,617 0
Other liabilities 200,867 270,396
Liabilities held for sale 19,033 21,131
Total liabilities 3,459,558 3,530,085
Noncontrolling interest - operating partnership - 213,483 and 301,483 preferred units outstanding as of June 30, 2019 and December 31, 2018, respectively 5,337 7,537
EQUITY    
General partner’s equity - 148,297,283 and 147,899,354 common units outstanding as of June 30, 2019 and December 31, 2018, respectively 3,355,248 3,329,861
Limited partners’ equity – 3,513,049 and 3,520,205 common units outstanding as of June 30, 2019 and December 31, 2018, respectively 61,839 61,471
Noncontrolling interest - operating partnership    
Noncontrolling interest – consolidated joint ventures 277 5,440
Total equity 3,417,364 3,396,772
Total liabilities, noncontrolling interest - operating partnership and equity $ 6,882,259 $ 6,934,394

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