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421.00 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 590.32 Td (1,769,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 590.32 Td (1,256,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 576.32 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 576.32 Td (234,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 576.32 Td (393,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 562.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 562.32 Td (89,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 562.32 Td (133,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.32 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 548.32 Td (120,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 548.32 Td (119,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 534.32 Td (Distributions receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 534.32 Td (3,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 534.32 Td (3,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 520.32 Td (Tenant and other receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 520.32 Td (50,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 520.32 Td (44,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 506.32 Td (Intangible lease assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 506.32 Td (172,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 506.32 Td (69,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.32 Td (Deferred leasing costs, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 492.32 Td (126,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 492.32 Td (125,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.32 Td (Deferred financing costs, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 478.32 Td (5,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 478.32 Td (3,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.32 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 464.32 Td (3,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 464.32 Td (31,972) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 450.43 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 450.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 450.32 Td (2,575,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 450.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 450.32 Td (2,182,723) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 422.43 Td (LIABILITIES:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 422.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 422.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.32 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 408.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 408.32 Td (72,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 408.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 408.32 Td (67,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 394.32 Td (Due to affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 394.32 Td (5,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 394.32 Td (3,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 380.32 Td (Intangible lease liabilities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 380.32 Td (33,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 380.32 Td (9,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 366.32 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 366.32 Td (16,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 366.32 Td (11,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 352.32 Td (Interest rate swap contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 352.32 Td (58,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 352.32 Td (67,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.32 Td (Participation interest liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 338.32 Td (100,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 338.32 Td (91,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 324.32 Td (Distributions payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 324.32 Td (15,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 324.32 Td (15,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 310.32 Td (Notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 310.32 Td (1,110,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 310.32 Td (795,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 296.32 Td (Total liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 296.32 Td (1,411,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 296.32 Td (1,062,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 268.32 Td (Commitments and contingencies \(Note 13\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 268.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 268.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 240.43 Td (EQUITY:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 240.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 240.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 226.32 Td (Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 216.32 Td (outstanding as of June 30, 2014 and December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 216.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 216.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 202.32 Td (Common shares, $.001 par value; 1,500,000 common shares authorized, 226,834 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 192.32 Td (229,174 common shares issued and outstanding as of June 30, 2014 and December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 182.32 Td (2013, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 182.42 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 182.42 Td (229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 168.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 168.32 Td (1,111,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 168.32 Td (1,150,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 154.32 Td (Retained earnings \(deficit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 154.32 Td (52,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 154.37 Td (\(29,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 154.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 140.32 Td (Accumulated other comprehensive income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 140.37 Td (\(536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 140.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 140.37 Td (\(546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 140.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 126.32 Td (Total stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 126.32 Td (1,163,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 126.32 Td (1,120,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 112.32 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 112.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 112.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 98.32 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 98.32 Td (1,163,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 98.32 Td (1,120,641) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 84.43 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 84.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 84.32 Td (2,575,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 84.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 84.32 Td (2,182,723) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 56.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 749.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 749.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 749.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 749.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 749.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 749.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 749.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 737.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 184.11 737.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 218.66 737.25 Td (A) Tj ET Q q 0 0 0 rg BT 225.14 737.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 290.06 737.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 326.82 737.25 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 359.89 737.25 Td (AND COMPREHENSIVE INCOME \(LOSS\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.65 725.25 Td (For) Tj ET Q q 0 0 0 rg BT 191.02 725.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.17 725.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 225.65 725.25 Td (ee and Six) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.99 725.25 Td ( Months Ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.07 725.25 Td (June30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.13 725.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.26 725.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.26 725.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 713.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 646.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 646.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 646.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 646.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 646.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 646.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 646.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 646.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 618.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 618.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 618.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 618.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 618.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 618.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 618.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 618.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 590.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 590.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 590.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 590.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 590.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 590.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 590.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 590.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 562.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 562.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 562.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 562.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 562.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 562.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 562.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 562.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 534.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 534.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 534.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 534.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 534.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 534.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 534.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 534.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 506.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 506.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 506.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 506.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 506.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 506.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 506.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 506.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 478.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 478.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 478.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 478.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 478.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 478.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 478.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 478.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 450.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 450.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 450.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 450.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 450.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 450.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 450.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 450.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 422.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 422.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 422.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 422.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 422.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 422.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 422.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 422.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 394.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 394.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 394.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 394.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 394.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 394.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 394.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 394.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 366.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 366.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 366.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 366.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 366.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 366.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 366.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 366.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 329.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 329.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 329.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 329.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 329.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 301.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 301.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 301.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 301.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 301.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 273.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 273.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 273.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 273.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 273.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 245.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 245.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 245.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 245.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 245.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 217.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 217.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 217.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 217.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 217.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 189.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 189.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 189.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 189.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 189.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 161.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 161.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 161.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 161.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 161.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 161.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 161.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 161.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 133.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 133.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 133.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 133.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 133.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 133.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 133.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 133.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 96.75 240.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 96.75 72.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 96.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 96.75 72.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 96.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 96.75 72.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 96.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 96.75 72.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 674.75 m 347.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 674.75 m 423.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 674.75 m 499.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 674.75 m 575.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 618.75 m 347.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 618.75 m 423.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 618.75 m 499.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 618.75 m 575.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 478.75 m 347.5 478.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 478.75 m 423.5 478.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 464.75 m 347.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 464.75 m 423.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 478.75 m 499.5 478.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 464.75 m 499.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 478.75 m 575.5 478.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 464.75 m 575.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 352.75 m 347.5 352.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 352.75 m 423.5 352.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 352.75 m 499.5 352.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 352.75 m 575.5 352.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 315.75 m 347.5 315.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 315.75 m 423.5 315.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 315.75 m 499.5 315.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 315.75 m 575.5 315.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 287.75 m 347.5 287.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 287.75 m 423.5 287.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 287.75 m 499.5 287.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 287.75 m 575.5 287.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 259.75 m 347.5 259.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 259.75 m 423.5 259.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 259.75 m 499.5 259.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 259.75 m 575.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 246.75 m 347.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 244.75 m 347.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 246.75 m 423.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 244.75 m 423.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 246.75 m 499.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 244.75 m 499.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 246.75 m 575.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 244.75 m 575.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 232.75 m 347.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 230.75 m 347.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 232.75 m 423.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 230.75 m 423.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 232.75 m 499.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 230.75 m 499.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 232.75 m 575.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 230.75 m 575.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 218.75 m 347.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 216.75 m 347.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 218.75 m 423.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 216.75 m 423.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 218.75 m 499.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 216.75 m 499.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 218.75 m 575.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 216.75 m 575.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 204.75 m 347.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 202.75 m 347.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 204.75 m 423.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 202.75 m 423.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 204.75 m 499.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 202.75 m 499.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 204.75 m 575.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 202.75 m 575.5 202.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 133.75 m 347.5 133.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 133.75 m 423.5 133.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 133.75 m 499.5 133.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 133.75 m 575.5 133.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 96.75 m 347.5 96.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 96.75 m 423.5 96.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 96.75 m 499.5 96.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 96.75 m 575.5 96.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 74.75 m 347.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 72.75 m 347.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 74.75 m 423.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 72.75 m 423.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 74.75 m 499.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 72.75 m 499.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 74.75 m 575.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 72.75 m 575.5 72.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 693.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 290.90 693.20 Td (Three Months Ended June 30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.35 693.20 Td (Six Months Ended June 30,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 679.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 679.20 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 378.00 679.20 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.00 679.20 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 530.00 679.20 Td (2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 665.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 345.90 665.20 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 651.20 Td (Revenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 637.21 Td (Rental revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 637.21 Td (54,889) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 637.21 Td (39,963) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.75 637.21 Td (110,919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 637.21 Td (80,061) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 623.21 Td (Other revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 623.21 Td (3,948) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 623.21 Td (2,261) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 623.21 Td (7,974) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 623.21 Td (4,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 609.21 Td (Total revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 609.21 Td (58,837) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 609.21 Td (42,224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.75 609.21 Td (118,893) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 609.21 Td (84,570) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 595.20 Td (Expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 581.21 Td (Property operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 581.21 Td (17,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 581.21 Td (13,407) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 581.21 Td (34,241) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 581.21 Td (27,088) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 567.21 Td (Real property taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 567.21 Td (8,347) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 567.21 Td (6,821) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 567.21 Td (16,441) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 567.21 Td (12,986) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 553.21 Td (Property management fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 553.21 Td (1,469) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 553.21 Td (1,010) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 553.21 Td (2,995) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 553.21 Td (2,004) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 539.21 Td (Depreciation and amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 539.21 Td (24,387) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 539.21 Td (12,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 539.21 Td (49,112) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 539.21 Td (25,334) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 525.21 Td (Acquisition related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.50 525.21 Td (163) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 525.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.50 525.21 Td (269) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 525.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 511.21 Td (Asset management and acquisition fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 511.21 Td (8,688) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 511.21 Td (8,262) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 511.21 Td (19,423) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 511.21 Td (16,720) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 497.21 Td (General and administrative) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 497.21 Td (1,690) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 497.21 Td (1,909) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 497.21 Td (3,647) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 497.21 Td (3,579) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 483.21 Td (Impairment losses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.00 483.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.75 483.21 Td (1,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 483.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 483.21 Td (1,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 469.21 Td (Total expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 469.21 Td (61,851) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 469.21 Td (45,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.75 469.21 Td (126,128) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 469.21 Td (89,262) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 455.20 Td (Operating income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 455.21 Td (\(3,014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 455.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.75 455.21 Td (\(3,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 455.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 455.21 Td (\(7,235) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 455.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.75 455.21 Td (\(4,692) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 455.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 441.20 Td (Other income \(expenses\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 441.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 441.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 441.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 441.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 427.21 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 427.21 Td (3,821) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 427.21 Td (13,258) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 427.21 Td (9,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 427.21 Td (19,544) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 413.21 Td (Gain \(loss\) on sale or dissolution of unconsolidated joint venture) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 413.21 Td (2,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.50 413.21 Td (122) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 413.21 Td (13,381) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 413.21 Td (16,087) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 399.21 Td (Equity in earnings \(losses\) of unconsolidated entities, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 399.21 Td (41,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 399.21 Td (78,829) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 399.21 Td (82,242) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 399.21 Td (81,424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 385.21 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 385.21 Td (8,485) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 385.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 385.21 Td (9,499) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 385.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 371.21 Td (Interest expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 371.21 Td (\(12,505) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 371.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.25 371.21 Td (\(11,652) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 371.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 371.21 Td (\(24,881) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 371.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.25 371.21 Td (\(25,712) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 371.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 357.21 Td (Interest income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.50 357.21 Td (201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.50 357.21 Td (196) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.50 357.21 Td (386) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 357.21 Td (378) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 343.20 Td (Income \(loss\) from continuing operations before benefit) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 334.20 Td (\(provision\) for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 334.21 Td (40,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 334.21 Td (77,729) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 334.21 Td (82,954) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 334.21 Td (87,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 320.21 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 320.21 Td (\(76) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 320.21 Td (\(71) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.50 320.21 Td (\(165) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 320.21 Td (\(138) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 320.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 306.20 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 306.21 Td (40,279) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 306.21 Td (77,658) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 306.21 Td (82,789) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 306.21 Td (86,891) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 292.21 Td (Income \(loss\) from discontinued operations, net of taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 292.21 Td (\(23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 292.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.50 292.21 Td (979) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.50 292.21 Td (\(206) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 292.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 292.21 Td (149,568) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 278.20 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 278.21 Td (40,256) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 278.21 Td (78,637) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 278.21 Td (82,583) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 278.21 Td (236,459) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 264.21 Td (Less: Net income attributable to noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 264.21 Td (\(75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 264.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 264.21 Td (\(960) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 264.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.50 264.21 Td (\(148) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 264.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.75 264.21 Td (\(1,098) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 264.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 250.20 Td (Net income \(loss\) attributable to common stockholders) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 250.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 250.21 Td (40,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 250.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 250.21 Td (77,677) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 250.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 250.21 Td (82,435) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 250.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 250.21 Td (235,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 236.21 Td (Basic and diluted income \(loss\) per common share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 236.21 Td (0.18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.25 236.21 Td (0.33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 236.21 Td (0.36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.25 236.21 Td (1.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 222.21 Td (Distributions declared per common share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 222.21 Td (0.07) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.25 222.21 Td (0.07) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 222.21 Td (0.13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.25 222.21 Td (0.19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 208.21 Td (Weighted average number of common shares outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.75 208.21 Td (226,834) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.75 208.21 Td (233,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.75 208.21 Td (227,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 208.21 Td (233,410) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 180.20 Td (Net comprehensive income \(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 180.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 180.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 180.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 180.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 166.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 166.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 166.21 Td (40,256) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 166.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 166.21 Td (78,637) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 166.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 166.21 Td (82,583) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 166.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 166.21 Td (236,459) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 152.21 Td (Other comprehensive income \(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 152.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 152.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 152.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 152.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 138.21 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.50 138.21 Td (106) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 138.21 Td (\(109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 138.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 138.21 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 138.21 Td (1,465) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 124.20 Td (Net comprehensive income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 124.21 Td (40,362) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 124.21 Td (78,528) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 124.21 Td (82,593) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 124.21 Td (237,924) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 110.21 Td (Net comprehensive \(income\) loss attributable to) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 101.21 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 101.21 Td (\(75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.00 101.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 101.21 Td (\(960) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 101.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.50 101.21 Td (\(148) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 101.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.75 101.21 Td (\(1,098) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 101.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 87.20 Td (Net comprehensive income \(loss\) attributable to common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 78.20 Td (stockholders) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 78.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 78.21 Td (40,287) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 78.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.25 78.21 Td (77,568) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 78.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 78.21 Td (82,445) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.00 78.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 78.21 Td (236,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.00 74.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 62.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.65 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 294.76 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 329.31 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 335.79 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 400.71 730.25 Td ( EQUITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.85 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 214.22 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.55 718.25 Td (Six Months Ended June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.02 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 718.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.00 694.25 Td (\(In thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 628.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 628.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 628.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 628.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 628.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 628.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 628.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 582.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 582.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 582.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 582.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 582.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 582.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 582.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 582.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.75 109.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 545.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 545.75 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 545.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 545.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 545.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 545.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 545.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 517.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 517.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 517.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 517.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 517.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 517.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 517.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 517.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 415.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 415.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 415.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 415.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 415.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 415.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 415.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 415.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 369.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 369.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 369.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 369.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 369.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 369.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 369.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 332.75 109.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 332.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 332.75 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 332.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 332.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 332.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 332.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 332.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 304.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 304.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 304.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 304.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 304.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 304.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 304.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 304.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 249.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 249.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 249.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 249.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 249.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 249.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 249.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 249.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 249.75 64.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 669.75 m 201.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 201.5 669.75 m 205.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 669.75 m 243.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 243.5 669.75 m 247.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 669.75 m 297.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 669.75 m 301.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 669.75 m 359.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 669.75 m 363.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 669.75 m 429.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 628.75 m 201.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 628.75 m 243.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 628.75 m 297.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 669.75 m 359.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 628.75 m 359.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 628.75 m 429.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.75 m 494.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 628.75 m 562.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 628.75 m 201.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 628.75 m 243.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 628.75 m 297.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 628.75 m 359.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 628.75 m 429.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.75 m 494.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 628.75 m 562.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 494.75 m 201.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 494.75 m 243.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 494.75 m 297.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 494.75 m 359.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 494.75 m 429.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 494.75 m 494.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 494.75 m 562.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 472.75 m 201.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 470.75 m 201.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 472.75 m 243.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 470.75 m 243.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 472.75 m 297.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 470.75 m 297.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 472.75 m 359.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 470.75 m 359.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 472.75 m 429.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 470.75 m 429.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 472.75 m 494.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 470.75 m 494.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 472.75 m 562.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 470.75 m 562.5 470.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 415.75 m 201.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 415.75 m 243.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 415.75 m 297.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 415.75 m 359.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 415.75 m 429.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 415.75 m 494.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 415.75 m 562.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 415.75 m 201.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 415.75 m 243.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 415.75 m 297.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 415.75 m 359.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 415.75 m 429.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 415.75 m 494.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 415.75 m 562.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 249.75 m 201.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 249.75 m 243.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 249.75 m 297.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 249.75 m 359.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 249.75 m 429.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 249.75 m 494.5 249.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 249.75 m 562.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 227.75 m 201.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 225.75 m 201.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 227.75 m 243.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 225.75 m 243.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 227.75 m 297.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 225.75 m 297.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 227.75 m 359.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 225.75 m 359.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 227.75 m 429.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 225.75 m 429.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 227.75 m 494.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 225.75 m 494.5 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 227.75 m 562.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 225.75 m 562.5 225.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.25 674.20 Td (Hines Real Estate Investment Trust, Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.50 674.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.00 674.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 633.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 162.25 642.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.05 633.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.20 633.20 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 651.20 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.95 642.20 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.70 633.20 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.75 651.20 Td (Retained) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.45 642.20 Td (Earnings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 314.25 633.20 Td (\(Deficit\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.50 660.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 384.55 651.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.05 642.20 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.85 633.20 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.65 651.20 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.30 642.20 Td (Stockholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 633.20 Td (Equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.05 642.20 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 537.38 642.20 Td (olling) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.30 633.20 Td (Inter) Tj ET Q q 0 0 0 rg BT 532.63 633.20 Td (ests) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 619.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 610.20 Td (January 1, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 610.21 Td (229,174) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 610.21 Td (229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 610.21 Td (1,150,909) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 610.21 Td (\(29,951) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.50 610.21 Td (\(546) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 610.21 Td (1,120,641) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 610.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 596.21 Td (Issuance of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 587.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 587.21 Td (1,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 587.21 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.25 587.21 Td (11,421) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 587.21 Td (11,423) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 573.21 Td (Redemption of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 564.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.75 564.21 Td (\(4,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 198.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 564.21 Td (\(4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 240.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 564.21 Td (\(20,721) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 564.21 Td (\(20,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 550.21 Td (Distributions declared) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 550.21 Td (\(30,434) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 550.21 Td (\(30,434) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 550.21 Td (\(148) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 536.21 Td (Other offering costs, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 536.21 Td (\(11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 536.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 536.21 Td (\(11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 536.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 522.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 522.21 Td (82,435) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 522.21 Td (82,435) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 522.21 Td (148) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 508.21 Td (Foreign currency) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 499.21 Td (translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 499.21 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 499.21 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 499.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 485.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 476.20 Td (June 30, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 476.21 Td (226,834) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 476.21 Td (227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 476.21 Td (1,111,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 476.21 Td (52,484) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.50 476.21 Td (\(536) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 476.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 476.21 Td (1,163,339) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 476.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 420.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 162.25 429.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.05 420.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.20 420.20 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 438.20 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.95 429.20 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.70 420.20 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.75 438.20 Td (Retained) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.45 429.20 Td (Earnings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 314.25 420.20 Td (\(Deficit\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.50 447.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 384.55 438.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.05 429.20 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.85 420.20 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.65 438.20 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.30 429.20 Td (Stockholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 420.20 Td (Equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.05 429.20 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 537.38 429.20 Td (olling) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.30 420.20 Td (Inter) Tj ET Q q 0 0 0 rg BT 532.63 420.20 Td (ests) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 406.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 397.20 Td (January 1, 2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 397.21 Td (231,680) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 397.21 Td (232) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 397.21 Td (1,433,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 397.21 Td (\(378,017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 397.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.75 397.21 Td (\(1,961) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 397.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 397.21 Td (1,053,821) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 397.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 383.21 Td (Issuance of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 374.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 374.21 Td (2,998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 374.21 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.25 374.21 Td (22,804) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 374.21 Td (22,807) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 360.21 Td (Redemption of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 351.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.50 351.21 Td (\(731) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 198.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 351.21 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 240.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 351.21 Td (\(29,481) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 351.21 Td (\(29,482) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 337.21 Td (Distributions declared) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.75 337.21 Td (\(231,838) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.75 337.21 Td (\(231,838) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 337.21 Td (\(1,098) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 323.21 Td (Other offering costs, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 323.21 Td (\(45) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 323.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 323.21 Td (\(45) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 323.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 309.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 309.21 Td (235,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 309.21 Td (235,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 309.21 Td (1,098) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 295.21 Td (Foreign currency) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 286.21 Td (translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.50 286.21 Td (519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.50 286.21 Td (519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 272.21 Td (Reclassification of foreign) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 263.21 Td (currency translation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 254.21 Td (adjustment to earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 254.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 254.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 254.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 254.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.50 254.21 Td (946) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.50 254.21 Td (946) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 254.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 240.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 231.20 Td (June 30, 2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 231.21 Td (233,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 231.21 Td (234) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 231.21 Td (1,195,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 231.21 Td (\(142,656) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 231.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.50 231.21 Td (\(496) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 231.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 231.21 Td (1,052,089) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 231.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 231.21 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 203.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.00 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 281.11 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 315.66 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 322.14 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 387.06 730.25 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.85 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 214.22 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.55 718.25 Td (Six Months Ended June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.02 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 718.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 639.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 639.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 639.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 609.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 609.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 609.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 579.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 579.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 579.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 549.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 549.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 549.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 549.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 519.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 519.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 519.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 519.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 489.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 489.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 489.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 489.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 459.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 459.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 459.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 429.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 429.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 429.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 399.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 399.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 399.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 369.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 369.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 369.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 339.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 339.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 339.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 339.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 309.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 309.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 309.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 309.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 279.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 279.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 279.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 279.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 249.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 249.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 249.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 249.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 219.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 219.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 219.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 219.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 189.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 189.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 189.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 189.75 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 653.75 m 482.5 653.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 653.75 m 562.5 653.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 489.75 m 482.5 489.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 489.75 m 562.5 489.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 474.75 m 482.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 474.75 m 562.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 369.75 m 482.5 369.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 354.75 m 482.5 354.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 369.75 m 562.5 369.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 354.75 m 562.5 354.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 234.75 m 482.5 234.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 234.75 m 562.5 234.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 219.75 m 482.5 219.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 219.75 m 562.5 219.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 204.75 m 482.5 204.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 204.75 m 562.5 204.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 174.75 m 482.5 174.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 174.75 m 562.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 160.75 m 482.5 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 158.75 m 482.5 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 160.75 m 562.5 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 158.75 m 562.5 158.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.50 673.43 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 658.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.00 658.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 658.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 644.43 Td (CASH FLOWS FROM OPERATING ACTIVITIES:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.00 644.43 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 629.42 Td (82,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 629.42 Td (236,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.42 Td (Adjustments to reconcile net income \(loss\) to cash from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 599.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 599.42 Td (56,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 599.42 Td (41,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 584.42 Td (\(Gain\) loss on sale of real estate investments and discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 584.47 Td (\(9,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 584.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 584.47 Td (\(144,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 584.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 569.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 569.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 569.42 Td (3,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 554.42 Td (\(Gain\) loss on sale or dissolution of unconsolidated joint venture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 554.47 Td (\(13,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 554.47 Td (\(16,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 539.42 Td (Equity in \(earnings\) losses of unconsolidated entities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 539.47 Td (\(82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 539.47 Td (\(81,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 524.42 Td (Distributions received from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 524.42 Td (82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 524.42 Td (9,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 509.42 Td (\(Gain\) loss on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 509.47 Td (\(9,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 509.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 509.47 Td (\(19,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 509.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 494.42 Td (Net change in operating accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 494.47 Td (\(8,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 494.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 494.47 Td (\(58,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 494.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 479.42 Td (Net cash from operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 479.42 Td (98,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 479.47 Td (\(28,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 479.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 464.43 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 464.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 464.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.42 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 449.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 449.47 Td (\(10,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 449.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.42 Td (Distributions received from unconsolidated entities in excess of equity in earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 434.42 Td (3,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 434.42 Td (2,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.42 Td (Investments in acquired properties and lease intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 419.47 Td (\(474,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 419.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 419.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 404.42 Td (Capital expenditures at operating properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 404.47 Td (\(2,855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 404.47 Td (\(4,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.42 Td (Proceeds from sale of real estate investments and unconsolidated joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 389.42 Td (74,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 389.42 Td (436,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.42 Td (Change in restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 374.47 Td (\(406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 374.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 374.42 Td (761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.42 Td (Net cash from investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 359.47 Td (\(400,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 359.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 359.42 Td (425,696) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 344.43 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 344.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 344.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 329.42 Td (Change in security deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 329.42 Td (1,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 329.42 Td (191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 314.42 Td (Redemption of common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 314.47 Td (\(23,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 314.47 Td (\(5,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.42 Td (Payments of offering costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.30 299.47 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 299.47 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 284.42 Td (Distributions paid to stockholders and noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 284.47 Td (\(19,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 284.47 Td (\(223,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 269.42 Td (Proceeds from notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 269.42 Td (795,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 269.42 Td (446,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 254.42 Td (Payments on notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 254.47 Td (\(492,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 254.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 254.47 Td (\(605,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 254.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 239.42 Td (Additions to deferred financing costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 239.47 Td (\(3,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 239.47 Td (\(3,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 224.42 Td (Net cash from financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 224.42 Td (257,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 224.47 Td (\(392,345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 224.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 209.43 Td (Effect of exchange rate changes on cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 209.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 209.47 Td (\(135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 209.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 194.43 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 194.47 Td (\(44,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 194.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 194.42 Td (4,668) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 179.43 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 179.42 Td (133,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 179.42 Td (72,230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 164.43 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 164.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 164.42 Td (89,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 164.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 164.42 Td (76,898) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 148.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 136.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.65 730.25 Td (NOTES) Tj ET Q q 0 0 0 rg BT 178.87 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 185.36 730.25 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 320.75 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 399.93 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 413.92 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 420.40 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.85 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 214.22 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.55 718.25 Td (Six Months Ended June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.02 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 718.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (1.Organization) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 658.25 Td (The accompanying interim unaudited condensed consolidated financial information has been pr) Tj ET Q q 0 0 0 rg BT 452.58 658.25 Td (epar) Tj ET Q q 0 0 0 rg BT 470.53 658.25 Td (ed accor) Tj ET Q q 0 0 0 rg BT 504.87 658.25 Td (ding to the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (rules and r) Tj ET Q q 0 0 0 rg BT 93.52 646.25 Td (egulations of the United States Securities and Exchange Commission \(SEC\). Certain information and footnote ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (disclosur) Tj ET Q q 0 0 0 rg BT 86.30 634.25 Td (es normally included in financial statements pr) Tj ET Q q 0 0 0 rg BT 274.24 634.25 Td (epar) Tj ET Q q 0 0 0 rg BT 292.20 634.25 Td (ed in accor) Tj ET Q q 0 0 0 rg BT 336.81 634.25 Td (dance with accounting principles generally accepted in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (the United States of ) Tj ET Q q 0 0 0 rg BT 130.92 622.25 Td (America \(GAAP\) have been condensed or omitted accor) Tj ET Q q 0 0 0 rg BT 366.87 622.25 Td (ding to such rules and r) Tj ET Q q 0 0 0 rg BT 461.78 622.25 Td (egulations. For further ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (information, r) Tj ET Q q 0 0 0 rg BT 105.75 610.25 Td (efer to the financial statements and footnotes for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.75 610.25 Td (December31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.34 610.25 Td ( included in Hines Real ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Estate Investment T) Tj ET Q q 0 0 0 rg BT 128.32 598.25 Td (rust, Inc.) Tj ET Q q 0 0 0 rg BT 166.19 598.25 Td (s ) Tj ET Q q 0 0 0 rg BT 172.40 598.25 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.76 598.25 Td (December31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.35 598.25 Td (. In the opinion of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (management, all adjustments and eliminations, consisting only of normal r) Tj ET Q q 0 0 0 rg BT 349.34 586.25 Td (ecurring adjustments, necessary to pr) Tj ET Q q 0 0 0 rg BT 499.79 586.25 Td (esent fairly and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 151.20 574.25 Td ( the financial position of Hines Real Estate Investment T) Tj ET Q q 0 0 0 rg BT 376.45 574.25 Td (rust, Inc. as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.45 574.25 Td (June30, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.82 574.25 Td ( and the r) Tj ET Q q 0 0 0 rg BT 531.06 574.25 Td (esults ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (of operations for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.44 562.25 Td (thr) Tj ET Q q 0 0 0 rg BT 145.74 562.25 Td (ee and six) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.73 562.25 Td ( months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.00 562.25 Td (June30, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.37 562.25 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.37 562.25 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.37 562.25 Td ( and cash flows for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.71 562.25 Td (six months ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.58 562.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.08 562.25 Td (June30, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.00 550.25 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 550.25 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 110.00 550.25 Td ( have been included. The r) Tj ET Q q 0 0 0 rg BT 215.71 550.25 Td (esults of operations for such interim periods ar) Tj ET Q q 0 0 0 rg BT 403.95 550.25 Td (e not necessarily indicative of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (r) Tj ET Q q 0 0 0 rg BT 53.52 538.25 Td (esults for the full year) Tj ET Q q 0 0 0 rg BT 140.18 538.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.25 Td (Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 188.34 514.25 Td (T) Tj ET Q q 0 0 0 rg BT 194.10 514.25 Td (rust, Inc., a Maryland corporation \(Hines REIT and, together with its consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (subsidiaries, the Company\), was formed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.40 502.25 Td (August5, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.80 502.25 Td ( under the Maryland General Corporation Law for the purpose of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (engaging in the business of investing in and owning interests in real estate. Beginning with its taxable year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (2004, the Company operated and intends to continue to operate in a manner to qualify as a real estate investment trust \(REIT\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (for federal income tax purposes. ) Tj ET Q q 0 0 0 rg BT 181.44 466.25 Td (The Company is structured as an umbrella partnership REIT) Tj ET Q q 0 0 0 rg BT 422.86 466.25 Td ( under which substantially all of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 454.25 Td (s current and future business is and will be conducted through its majority-owned subsidiary) Tj ET Q q 0 0 0 rg BT 475.38 454.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 528.25 454.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Properties, L.P) Tj ET Q q 0 0 0 rg BT 108.61 442.25 Td (. \(the Operating Partnership\). Hines REIT) Tj ET Q q 0 0 0 rg BT 284.76 442.25 Td ( is the sole general partner of the Operating Partnership. Subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (certain restrictions and limitations, the business of the Company is managed by Hines ) Tj ET Q q 0 0 0 rg BT 394.94 430.25 Td (Advisors Limited Partnership \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Advisor\), an af) Tj ET Q q 0 0 0 rg BT 118.96 418.25 Td (filiate of Hines Interests Limited Partnership \(Hines\), pursuant to the advisory agreement between the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Company and the ) Tj ET Q q 0 0 0 rg BT 122.49 406.25 Td (Advisor \(the Advisory ) Tj ET Q q 0 0 0 rg BT 218.87 406.25 Td (Agreement\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 382.25 Td (Public Offering) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.25 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 115.87 358.25 Td ( has raised approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.83 358.25 Td ($2.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.95 358.25 Td ( through public of) Tj ET Q q 0 0 0 rg BT 338.70 358.25 Td (ferings of its common stock, including shares of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (common stock of) Tj ET Q q 0 0 0 rg BT 119.25 346.25 Td (fered pursuant to its dividend reinvestment plan, since Hines REIT) Tj ET Q q 0 0 0 rg BT 386.23 346.25 Td ( commenced its initial public of) Tj ET Q q 0 0 0 rg BT 512.96 346.25 Td (fering in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (June 2004.) Tj ET Q q 0 0 0 rg BT 98.15 334.25 Td (The Company commenced a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.33 334.25 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.22 334.25 Td ( of) Tj ET Q q 0 0 0 rg BT 284.87 334.25 Td (fering of shares of its common stock under its dividend reinvestment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (plan on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.22 322.25 Td (July1, 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.39 322.25 Td (, which closed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.87 322.25 Td (June30, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.70 322.25 Td (, immediately prior to the commencement of the Company) Tj ET Q q 0 0 0 rg BT 497.14 322.25 Td (s new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.69 322.25 Td ($300.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 310.25 Td ( of) Tj ET Q q 0 0 0 rg BT 89.54 310.25 Td (fering of shares of its common stock under its dividend reinvestment plan on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.20 310.25 Td (July1, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.37 310.25 Td (. ) Tj ET Q q 0 0 0 rg BT 453.19 310.25 Td (The Company refers to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (both of) Tj ET Q q 0 0 0 rg BT 78.43 298.25 Td (ferings of shares under its dividend reinvestment plan collectively asthe DRP) Tj ET Q q 0 0 0 rg BT 393.81 298.25 Td ( Of) Tj ET Q q 0 0 0 rg BT 406.68 298.25 Td (fering. From inception of the DRP) Tj ET Q q 0 0 0 rg BT 548.51 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 286.25 Td (fering through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.36 286.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.19 286.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 229.05 286.25 Td ( received gross of) Tj ET Q q 0 0 0 rg BT 299.68 286.25 Td (fering proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.92 286.25 Td ($172.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.81 286.25 Td ( from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.85 286.25 Td (21.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.74 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (shares through the DRP) Tj ET Q q 0 0 0 rg BT 144.90 274.25 Td ( Of) Tj ET Q q 0 0 0 rg BT 157.77 274.25 Td (fering.Based on market conditions and other considerations, the Company does not currently expect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (to commence any future of) Tj ET Q q 0 0 0 rg BT 157.55 262.25 Td (ferings other than those related to shares issued under its dividend reinvestment plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.25 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 115.87 238.25 Td ( contributes all net proceeds from its public of) Tj ET Q q 0 0 0 rg BT 300.08 238.25 Td (ferings to the Operating Partnership in exchange for partnership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (units in the Operating Partnership. ) Tj ET Q q 0 0 0 rg BT 189.42 226.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.87 226.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.70 226.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.14 226.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.72 226.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 420.59 226.25 Td ( owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.18 226.25 Td (93.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.01 226.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.45 226.25 Td (93.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.28 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (general partner interest, respectively) Tj ET Q q 0 0 0 rg BT 194.83 214.25 Td (, in the Operating Partnership. Hines 2005 ) Tj ET Q q 0 0 0 rg BT 366.01 214.25 Td (VS I LP) Tj ET Q q 0 0 0 rg BT 397.69 214.25 Td (, an af) Tj ET Q q 0 0 0 rg BT 422.21 214.25 Td (filiate of Hines, owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.29 214.25 Td (0.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.12 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (limited partnership interest in the Operating Partnership as of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.71 202.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.54 202.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.98 202.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.57 202.25 Td (. In addition, another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 190.25 Td (filiate of Hines, HALP) Tj ET Q q 0 0 0 rg BT 148.31 190.25 Td ( ) Tj ET Q q 0 0 0 rg BT 150.26 190.25 Td (Associates Limited Partnership \(HALP\), owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.48 190.25 Td (6.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.31 190.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.75 190.25 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.58 190.25 Td ( profits interest \(the Participation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (Interest\) in the Operating Partnership as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.44 178.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.27 178.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.71 178.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.29 178.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 433.96 178.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 154.25 Td (Investment Pr) Tj ET Q q 0 0 0 rg BT 114.44 154.25 Td (operty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 130.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 130.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 130.25 Td (, the Company owned direct and indirect investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.33 130.25 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.33 130.25 Td ( properties. ) Tj ET Q q 0 0 0 rg BT 431.64 130.25 Td (These properties consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.05 130.25 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.05 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (U.S. of) Tj ET Q q 0 0 0 rg BT 78.43 118.25 Td (fice properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.90 118.25 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.34 118.25 Td ( industrial property in Dallas, ) Tj ET Q q 0 0 0 rg BT 275.14 118.25 Td (T) Tj ET Q q 0 0 0 rg BT 280.55 118.25 Td (exas and a portfolio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.02 118.25 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.01 118.25 Td ( grocery-anchored shopping centers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (located in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.65 106.25 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.31 106.25 Td ( states primarily in the southeastern United States. See below for additional information regarding the Grocery-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (Anchored Portfolio.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The Company makes investments directly through entities that are wholly-owned by the Operating Partnership, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (indirectly through other entities, such as through its investment in Hines USCore Of) Tj ET Q q 0 0 0 rg BT 388.66 730.10 Td (fice Fund LP) Tj ET Q q 0 0 0 rg BT 440.50 730.10 Td ( \(the Core Fund\) in which it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.10 718.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.93 718.10 Td ( non-managing general partner interest as of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.30 718.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.13 718.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.57 718.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.16 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 469.98 718.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (accounts for its investment in the Core Fund using the equity method of accounting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (In January 2014, the Company dissolved its joint venture with ) Tj ET Q q 0 0 0 rg BT 319.18 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 327.81 682.10 Td (eingarten Realty Investors \(W) Tj ET Q q 0 0 0 rg BT 451.69 682.10 Td (eingarten\), through which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the Company and ) Tj ET Q q 0 0 0 rg BT 122.86 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.50 670.10 Td (eingarten held a portfolio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.18 670.10 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.18 670.10 Td ( grocery-anchored shopping centers \(the Grocery-Anchored Portfolio\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (As a result of the dissolution of the joint venture, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.58 658.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.57 658.10 Td ( of the Grocery-Anchored Portfolio properties were distributed to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Company and the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.08 646.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.74 646.10 Td ( Grocery-Anchored Portfolio properties were distributed to ) Tj ET Q q 0 0 0 rg BT 421.10 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 429.74 646.10 Td (eingarten and an additional $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.81 646.10 Td (0.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 634.10 Td ( in cash was paid to the Company by ) Tj ET Q q 0 0 0 rg BT 228.41 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 237.05 634.10 Td (eingarten \(Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 400.41 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 406.17 634.10 Td (ransaction\). ) Tj ET Q q 0 0 0 rg BT 461.98 634.10 Td (As of January 1, 2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (the Company has consolidated the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.69 622.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.69 622.10 Td ( properties that it received as a result of the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 500.51 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 506.27 622.10 Td (ransaction. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 610.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 610.10 Td (, the Company owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.23 610.10 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.56 610.10 Td ( interest in the Grocery-Anchored Portfolio, which was previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (accounted for as an equity method investment. See Note 4 Recent ) Tj ET Q q 0 0 0 rg BT 329.92 598.10 Td (Acquisitions of Real Estate for additional information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (regarding the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 221.43 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 227.18 586.10 Td (ransaction.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (2.Summary of Significant ) Tj ET Q q 0 0 0 rg BT 163.54 562.10 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (Described below are certain of the Company) Tj ET Q q 0 0 0 rg BT 249.60 538.10 Td (s significant accounting policies. ) Tj ET Q q 0 0 0 rg BT 383.00 538.10 Td (The disclosures regarding several of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (policies have been condensed or omitted in accordance with interim reporting regulations specified by Form 10-Q. Please see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 514.10 Td (s ) Tj ET Q q 0 0 0 rg BT 112.22 514.10 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.56 514.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.14 514.10 Td ( for a complete listing of all of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (significant accounting policies. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 478.10 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 103.08 478.10 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (The condensed consolidated financial statements of the Company included in this quarterly report include the accounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 97.30 442.10 Td (, the Operating Partnership and the Operating Partnership) Tj ET Q q 0 0 0 rg BT 330.02 442.10 Td (s wholly-owned subsidiaries as well as the related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (amounts of noncontrolling interests. ) Tj ET Q q 0 0 0 rg BT 196.37 430.10 Td (All intercompany balances and transactions have been eliminated in consolidation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 406.10 Td (s investments in partially-owned real estate joint ventures and partnerships are reviewed for impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (periodically) Tj ET Q q 0 0 0 rg BT 97.11 394.10 Td (. ) Tj ET Q q 0 0 0 rg BT 101.93 394.10 Td (The Company will record an impairment char) Tj ET Q q 0 0 0 rg BT 285.02 394.10 Td (ge if it determines that a decline in the value of an investment below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (its carrying value is other than temporary) Tj ET Q q 0 0 0 rg BT 214.30 382.10 Td (.) Tj ET Q q 0 0 0 rg BT 221.62 382.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 281.33 382.10 Td (s analysis will be dependent on a number of factors, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery) Tj ET Q q 0 0 0 rg BT 543.09 370.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Based on the Company) Tj ET Q q 0 0 0 rg BT 145.82 358.10 Td (s analysis of the facts and circumstances at each reporting period, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.17 358.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.17 358.10 Td ( impairment was recorded related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (to its investment in the Core Fund for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.48 346.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.57 346.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 346.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.23 346.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.67 346.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.67 346.10 Td (. Further) Tj ET Q q 0 0 0 rg BT 461.21 346.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.21 346.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.21 346.10 Td ( impairment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (recorded related to the Company) Tj ET Q q 0 0 0 rg BT 183.84 334.10 Td (s investment in the Grocery-Anchored Portfolio for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.56 334.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 334.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.48 334.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 322.10 Td (. ) Tj ET Q q 0 0 0 rg BT 77.32 322.10 Td (The Company dissolved its joint venture with ) Tj ET Q q 0 0 0 rg BT 262.40 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 271.04 322.10 Td (eingarten in January 2014. See Note1 Or) Tj ET Q q 0 0 0 rg BT 448.86 322.10 Td (ganization Investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Property for additional information regarding the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 364.73 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 370.48 310.10 Td (ransaction. However) Tj ET Q q 0 0 0 rg BT 455.33 310.10 Td (, if market conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (deteriorate in the future and result in lower valuations or reduced cash flows of the Company) Tj ET Q q 0 0 0 rg BT 424.60 298.10 Td (s remaining investment in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Core Fund, impairment char) Tj ET Q q 0 0 0 rg BT 163.13 286.10 Td (ges may be recorded in future periods.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 262.10 Td (International Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.10 Td (In addition to its properties in the United States, the Company has owned investments in Canada and Brazil, although the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Company no longer owned any operating investments outside the United States as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.44 226.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.27 226.10 Td (. Upon the January 2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (disposal of the Company) Tj ET Q q 0 0 0 rg BT 152.49 214.10 Td (s investment in Distribution Park Rio, a property in Brazil that the Company owned indirectly) Tj ET Q q 0 0 0 rg BT 527.61 214.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Company realized a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.36 202.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.25 202.10 Td ( related to thecurrency translation adjustment as a result of the disposal. ) Tj ET Q q 0 0 0 rg BT 503.77 202.10 Td (Accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (other comprehensive income \(loss\) as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.39 190.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.22 190.10 Td ( is related to the remaining non-operating net assets of the disposed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (directly-owned properties in Brazil and Canada.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 154.10 Td (Impairment of Investment Pr) Tj ET Q q 0 0 0 rg BT 173.88 154.10 Td (operty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 130.10 Td (Real estate assets are reviewed for impairment in each reporting period if events or changes in circumstances indicate that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (current and projected cash flows of each property on an undiscounted basis to the carrying amount of such property) Tj ET Q q 0 0 0 rg BT 511.43 106.10 Td (.If ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (undiscounted cash flows are less than the carrying amount, such carrying amount would be adjusted, if necessary) Tj ET Q q 0 0 0 rg BT 502.00 94.10 Td (, to estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (fair values to reflect impairment in the value of the asset.See Note 14 Fair ) Tj ET Q q 0 0 0 rg BT 365.27 82.10 Td (V) Tj ET Q q 0 0 0 rg BT 371.39 82.10 Td (alue Disclosures for additional information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (regarding the Company) Tj ET Q q 0 0 0 rg BT 147.20 70.10 Td (s policy for determining fair values of its investment property) Tj ET Q q 0 0 0 rg BT 392.88 70.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.88 70.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 70.10 Td ( impairment char) Tj ET Q q 0 0 0 rg BT 478.22 70.10 Td (ges were recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.88 58.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.97 58.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.80 58.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.63 58.10 Td ( on the Company) Tj ET Q q 0 0 0 rg BT 318.01 58.10 Td (s directly-owned and indirectly-owned properties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 742.10 Td (three months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.19 742.10 Td (, the Company recorded an impairment loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.20 742.10 Td ($2.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.09 742.10 Td ( related to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (directly-owned investment property located in El Segundo, California as a result of the contract sales price of the investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (being less than its carrying value. ) Tj ET Q q 0 0 0 rg BT 186.17 718.10 Td (This amount is included in income \(loss\) from discontinued operations in the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (consolidated statements of operations and comprehensive income \(loss\). ) Tj ET Q q 0 0 0 rg BT 341.31 706.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 391.22 706.10 Td (, the Company recorded an impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (loss of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.89 694.10 Td (1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.78 694.10 Td ( related to its directly-owned investment property located in Minneapolis, Minnesota as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (projected undiscounted cash flows for the property being less than its carrying value. ) Tj ET Q q 0 0 0 rg BT 391.94 682.10 Td (This amount is included in income \(loss\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (from continuing operations in the condensed consolidated statements of operations and comprehensive income \(loss\). See Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (14 Fair ) Tj ET Q q 0 0 0 rg BT 93.43 658.10 Td (V) Tj ET Q q 0 0 0 rg BT 99.54 658.10 Td (alue Disclosures for additional information. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 63.64 634.10 Td (enant and Other Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td (Receivable balances outstanding consist primarily of base rents, tenant reimbursements and receivables attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (straight-line rent. ) Tj ET Q q 0 0 0 rg BT 123.32 598.10 Td (An allowance for the uncollectible portion of tenant and other receivables is determined based upon an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (analysis of the tenant) Tj ET Q q 0 0 0 rg BT 137.48 586.10 Td (s payment history) Tj ET Q q 0 0 0 rg BT 207.93 586.10 Td (, the financial condition of the tenant, business conditions in the industry in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (tenant operates and economic conditions in the area in which the property is located.) Tj ET Q q 0 0 0 rg BT 390.54 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 395.95 574.10 Td (enant and other receivables are shown at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (cost in the condensed consolidated balance sheets, net of allowance for doubtful accounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.26 562.10 Td ($4.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.16 562.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.59 562.10 Td ($4.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.49 562.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 550.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.27 550.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.85 550.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 256.51 550.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 526.10 Td (Deferr) Tj ET Q q 0 0 0 rg BT 85.29 526.10 Td (ed Leasing Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.41 502.10 Td (enant inducement amortization was $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.80 502.10 Td (3.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.70 502.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.13 502.10 Td (4.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 502.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.40 502.10 Td (three months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.04 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.48 502.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.48 502.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 490.10 Td (, and was recorded as an of) Tj ET Q q 0 0 0 rg BT 206.04 490.10 Td (fset to rental revenue. In addition, the Company recorded $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.35 490.10 Td (1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.25 490.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.68 490.10 Td (1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.58 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (as amortization expense related to other direct leasing costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.07 478.10 Td (three months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.71 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 478.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 478.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 547.81 478.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.41 454.10 Td (enant inducement amortization was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.80 454.10 Td ($7.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.70 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.13 454.10 Td ($8.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 454.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.40 454.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.40 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.90 454.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.73 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.17 454.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.17 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 442.10 Td (, and was recorded as an of) Tj ET Q q 0 0 0 rg BT 206.04 442.10 Td (fset to rental revenue. In addition, the Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.35 442.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.25 442.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.68 442.10 Td ($3.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.58 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (as amortization expense related to other direct leasing costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.07 430.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.06 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.56 430.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.39 430.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.83 430.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.83 430.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 539.49 430.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 406.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 84.65 406.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td (Other assets included the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 356.60 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 356.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 356.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.60 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 326.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 326.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 326.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 296.60 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 296.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 296.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 296.60 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 356.6 m 468.5 356.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 356.6 m 562.5 356.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 296.6 m 468.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 296.6 m 562.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 282.6 m 468.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 280.6 m 468.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 282.6 m 562.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 280.6 m 562.5 280.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.95 361.28 Td (June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 361.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.65 361.28 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.27 Td (Deposit on investment property ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 181.87 350.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 346.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 346.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 346.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 346.27 Td (30,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.27 Td (Prepaid insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 331.27 Td (1,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 331.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 331.27 Td (686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.27 Td (Prepaid/deferred taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 316.27 Td (517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 316.27 Td (517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 301.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 301.27 Td (1,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 301.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 301.27 Td (769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 286.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 286.27 Td (3,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 286.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 286.27 Td (31,972) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 258.10 Td (In December 2013, the Company funded a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.72 258.10 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.62 258.10 Td ( deposit related to its acquisition of the Howard Hughes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.10 Td (Center) Tj ET Q q 0 0 0 rg BT 112.25 246.10 Td (, which the Company acquired in January 2014.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 222.10 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 198.10 Td (Rental payments are generally paid by the tenants prior to the beginning of each month. ) Tj ET Q q 0 0 0 rg BT 420.68 198.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.12 198.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.95 198.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 186.10 Td (, the Company recorded liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.71 186.10 Td ($8.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 186.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.04 186.10 Td ($6.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.93 186.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 447.59 186.10 Td (, related to prepaid rental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.10 Td (payments which were included in other liabilities in the accompanying condensed consolidated balance sheets.) Tj ET Q q 0 0 0 rg BT 495.51 174.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (recognizes rental revenue on a straight-line basis over the life of the lease including rent holidays, if any) Tj ET Q q 0 0 0 rg BT 465.87 162.10 Td (. Straight-line rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (receivable was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.63 150.10 Td ($41.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.52 150.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.96 150.10 Td ($40.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.85 150.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.01 150.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.84 150.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.28 150.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.87 150.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 469.53 150.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 126.10 Td (Redemption of Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 102.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 102.10 Td (s share redemption program generally limits the funds available for redemption to the amount of proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.10 Td (received from the Company) Tj ET Q q 0 0 0 rg BT 164.68 90.10 Td (s dividend reinvestment plan in the prior quarter) Tj ET Q q 0 0 0 rg BT 357.13 90.10 Td (. ) Tj ET Q q 0 0 0 rg BT 364.45 90.10 Td (The board of directors determined to waive this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (limitation of the share redemption program and fully honor all eligible requests received for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 78.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.59 78.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.09 78.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 66.10 Td ( totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.55 66.10 Td ($20.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.44 66.10 Td (, which amount was in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.35 66.10 Td ($1) Tj ET Q q 0 0 0 rg BT 315.98 66.10 Td (1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.87 66.10 Td ( received from the issuance of shares pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.10 Td (the dividend reinvestment plan in the prior quarters. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (The Company has recorded liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.29 730.10 Td ($10.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.18 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.62 730.10 Td ($12.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.51 730.10 Td ( in accounts payable and accrued expenses in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (accompanying condensed consolidated balance sheets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.19 718.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.02 718.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.46 718.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.04 718.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 496.70 718.10 Td (, related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (shares that were tendered for redemption and approved by the board of directors but were not redeemed until the subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (month. Such amounts have been included in redemption of common shares in the accompanying consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (equity based on a redemption price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.56 682.10 Td ($5.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.06 682.10 Td ( per share for ordinary share redemption requests and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.81 682.10 Td ($6.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.31 682.10 Td ( per share for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (redemption requests in connection with the death or disability of a stockholder) Tj ET Q q 0 0 0 rg BT 363.69 670.10 Td (, which prices were determined in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (with the board of directors) Tj ET Q q 0 0 0 rg BT 158.67 658.10 Td ( determination of a new net asset value per share in November 2013.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 634.10 Td (Reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td (The Company sold ) Tj ET Q q 0 0 0 rg BT 146.42 610.10 Td (W) Tj ET Q q 0 0 0 rg BT 155.46 610.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 185.00 610.10 Td (T) Tj ET Q q 0 0 0 rg BT 190.41 610.10 Td (ower) Tj ET Q q 0 0 0 rg BT 210.00 610.10 Td (, One ) Tj ET Q q 0 0 0 rg BT 233.98 610.10 Td (W) Tj ET Q q 0 0 0 rg BT 243.02 610.10 Td (ilshire and the Raytheon/DIRECTV) Tj ET Q q 0 0 0 rg BT 386.42 610.10 Td ( buildings during 2013 and reclassified the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (results of operations for these properties into discontinued operations in the condensed consolidated statements of operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (for all periods presented. See Note 5 Discontinued Operations for additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (In connection with recent amendments to the Codification regarding discontinued operations, the Company reclassified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Gain \(loss\) on sale of real estate investments to be included in income \(loss\) from continuing operations in its condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.24 538.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.34 538.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.16 538.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.99 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.45 526.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 124.35 526.10 Td (, the Company reclassified Gain \(loss\) on sale or dissolution of unconsolidated joint venture and Equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (in earnings \(losses\) of unconsolidated entities, net to be included in Income \(loss\) from continuing operations before benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (\(provision\) of income taxes to simplify the presentation of the Company) Tj ET Q q 0 0 0 rg BT 342.16 502.10 Td (s results of operations. ) Tj ET Q q 0 0 0 rg BT 434.47 502.10 Td (These reclasses did not impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (previously reported net income.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 466.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 88.52 466.10 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 146.19 466.10 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td (In February 2013, the Financial ) Tj ET Q q 0 0 0 rg BT 196.31 442.10 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 326.93 442.10 Td (ASB\) issued amendments to provide guidance on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (total amount of obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (within existing guidance in GAAP) Tj ET Q q 0 0 0 rg BT 187.21 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 194.53 406.10 Td (The amendments are ef) Tj ET Q q 0 0 0 rg BT 287.92 406.10 Td (fective for fiscal years, and interim periods within those years, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (beginning after December 15, 2013. ) Tj ET Q q 0 0 0 rg BT 199.21 394.10 Td (The adoption of this guidance did not have a material impact on the Company) Tj ET Q q 0 0 0 rg BT 513.85 394.10 Td (s financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td (In March 2013, F) Tj ET Q q 0 0 0 rg BT 137.25 358.10 Td (ASB issued guidance on releasing cumulative translation adjustments when a reporting entity ceases to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity) Tj ET Q q 0 0 0 rg BT 486.75 346.10 Td (. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (these amendments provide guidance on the release of cumulative translation adjustments in partial sales of equity method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (investments. ) Tj ET Q q 0 0 0 rg BT 105.09 322.10 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 178.49 322.10 Td (fective on a prospective basis for fiscal years and interim reporting periods within those years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (beginning after December 15, 2013. ) Tj ET Q q 0 0 0 rg BT 199.21 310.10 Td (The adoption of this guidance did not have a material impact on the Company) Tj ET Q q 0 0 0 rg BT 513.85 310.10 Td (s financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.10 Td (In July 2013, F) Tj ET Q q 0 0 0 rg BT 127.82 274.10 Td (ASB issued amendments to the ) Tj ET Q q 0 0 0 rg BT 254.76 274.10 Td (Accounting Standards Codification \(the Codification\) to provide guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (carryforward exists. ) Tj ET Q q 0 0 0 rg BT 134.79 250.10 Td (These amendments will be ef) Tj ET Q q 0 0 0 rg BT 251.79 250.10 Td (fective for fiscal years, and interim periods within those years, beginning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (after December 31, 2013. ) Tj ET Q q 0 0 0 rg BT 156.72 238.10 Td (The adoption of this guidance did not have a material impact on the Company) Tj ET Q q 0 0 0 rg BT 471.36 238.10 Td (s financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (In March 2014, F) Tj ET Q q 0 0 0 rg BT 137.25 214.10 Td (ASB made technical corrections and improvements related to glossary terms in the Codification. ) Tj ET Q q 0 0 0 rg BT 528.35 214.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (amendments were ef) Tj ET Q q 0 0 0 rg BT 132.56 202.10 Td (fective upon issuance and did not have a material impact on the Company) Tj ET Q q 0 0 0 rg BT 430.80 202.10 Td (s financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 178.10 Td (April 2014, F) Tj ET Q q 0 0 0 rg BT 131.71 178.10 Td (ASB issued amendments to the Codification to provide guidance on reporting discontinued operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (These amendments raise the threshold for a disposal to qualify as a discontinued operation and require new disclosures of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.) Tj ET Q q 0 0 0 rg BT 493.88 154.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (amendments are ef) Tj ET Q q 0 0 0 rg BT 125.34 142.10 Td (fective for fiscal years, and interim periods within those years, beginning after December 31, 2014 and early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 142.30 130.10 Td (The Company elected to adopt these amendments, ef) Tj ET Q q 0 0 0 rg BT 353.72 130.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.42 130.10 Td (January1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.02 130.10 Td (. ) Tj ET Q q 0 0 0 rg BT 451.47 130.10 Td (As a result, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (did not report any sales of real estate investment property in discontinued operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.06 118.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.06 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.56 118.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.39 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (since the Company concluded that these sales do not represent a strategic shift in the Company) Tj ET Q q 0 0 0 rg BT 441.27 106.10 Td (s operations. See Note 3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Real Estate Investments for additional information regarding the sale of the Minneapolis Of) Tj ET Q q 0 0 0 rg BT 416.94 94.10 Td (fice/Flex Portfolio that did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (qualify as discontinued operations as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.07 82.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.90 82.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (3.Real Estate Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (Investment property consisted of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 680.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 680.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 680.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 680.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 650.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 650.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 650.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 650.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 620.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 620.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 620.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 620.75 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 680.75 m 468.5 680.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 680.75 m 562.5 680.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 680.75 m 468.5 680.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 680.75 m 562.5 680.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 650.75 m 468.5 650.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 650.75 m 562.5 650.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 650.75 m 468.5 650.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 620.75 m 468.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 620.75 m 562.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 620.75 m 468.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 606.75 m 468.5 606.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 604.75 m 468.5 604.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 606.75 m 562.5 606.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 604.75 m 562.5 604.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 685.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.95 685.43 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.65 685.43 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 670.42 Td (Buildings and improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 670.42 Td (1,529,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 670.42 Td (1,185,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.42 Td (Less: accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.80 655.47 Td (\(191,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 655.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 655.47 Td (\(178,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 655.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 640.42 Td (Buildings and improvements, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 640.42 Td (1,338,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 640.42 Td (1,007,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.42 Td (Land) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 625.42 Td (430,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 625.42 Td (249,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.42 Td (Investment property, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 610.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 610.42 Td (1,769,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 610.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 610.42 Td (1,256,579) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 582.25 Td (In May 2014, the Company completed the sale of the Minneapolis Of) Tj ET Q q 0 0 0 rg BT 346.09 582.25 Td (fice/Flex Portfolio for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.24 582.25 Td ($75.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 570.25 Td (. ) Tj ET Q q 0 0 0 rg BT 83.71 570.25 Td (The Company acquired the portfolio in September 2007 for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.48 570.25 Td ($87.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.37 570.25 Td (. ) Tj ET Q q 0 0 0 rg BT 496.19 570.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.25 Td (recognized a gain on sale of this asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.11 558.25 Td ($9.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.00 558.25 Td (, which was recorded in gain \(loss\) on sale of real estate investments on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.25 Td (the condensed consolidated statements of operations and comprehensive income \(loss\). ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 522.25 Td (Lease Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 498.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 498.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 498.25 Td (, the cost basis and accumulated amortization related to lease intangibles were as follows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 424.75 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 424.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 424.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 424.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 424.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 424.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 394.75 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 394.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 394.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 394.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 394.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 394.75 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 448.75 m 384.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 448.75 m 388.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 448.75 m 473.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 448.75 m 477.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 448.75 m 562.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 424.75 m 384.5 424.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 424.75 m 473.5 424.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 424.75 m 562.5 424.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 424.75 m 384.5 424.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 394.75 m 384.5 394.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 394.75 m 473.5 394.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 394.75 m 562.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 380.75 m 384.5 380.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 378.75 m 384.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 380.75 m 473.5 380.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 378.75 m 473.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 380.75 m 562.5 380.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 378.75 m 562.5 378.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 453.43 Td (Lease Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 429.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.30 429.43 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.55 439.43 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.95 429.43 Td (Lease ) Tj ET Q q 0 0 0 rg BT 430.34 429.43 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.55 439.43 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.60 429.43 Td (Lease Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 414.42 Td (Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 414.42 Td (273,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 414.42 Td (44,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 414.42 Td (63,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.42 Td (Less: accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.80 399.47 Td (\(121,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 399.47 Td (\(23,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 399.47 Td (\(30,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 384.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 384.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 384.42 Td (151,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 384.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 384.42 Td (20,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 384.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 384.42 Td (33,036) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 356.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 356.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.03 356.25 Td (, the cost basis and accumulated amortization related to lease intangibles were as follows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.25 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 282.75 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 282.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 282.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 282.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 252.75 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 252.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 252.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 252.75 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 306.75 m 384.5 306.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 306.75 m 388.5 306.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 306.75 m 473.5 306.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 306.75 m 477.5 306.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 306.75 m 562.5 306.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 282.75 m 384.5 282.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 282.75 m 473.5 282.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 282.75 m 562.5 282.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 252.75 m 384.5 252.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 252.75 m 473.5 252.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 252.75 m 562.5 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 238.75 m 384.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 236.75 m 384.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 238.75 m 473.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 236.75 m 473.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 238.75 m 562.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 236.75 m 562.5 236.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 311.43 Td (Lease Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 287.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.30 287.43 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.55 297.43 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.95 287.43 Td (Lease ) Tj ET Q q 0 0 0 rg BT 430.34 287.43 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.55 297.43 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.60 287.43 Td (Lease Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 272.42 Td (Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 272.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 272.42 Td (163,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 272.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 272.42 Td (38,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 272.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 272.42 Td (41,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 257.42 Td (Less: accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.80 257.47 Td (\(110,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 257.47 Td (\(22,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 257.47 Td (\(31,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 242.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 242.42 Td (53,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 242.42 Td (16,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 242.42 Td (9,846) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 214.25 Td (Amortization expense of in-place leases was $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.49 214.25 Td (13.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.38 214.25 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.82 214.25 Td (3.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.71 214.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.09 214.25 Td (three months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.73 214.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 202.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 202.25 Td (, and amortization of out-of-market leases, net, increased rental revenue by $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.76 202.25 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 202.25 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.09 202.25 Td (0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.98 202.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 190.25 Td (. ) Tj ET Q q 0 0 0 rg BT 102.11 190.25 Td (Amortization expense of in-place leases was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.60 190.25 Td ($26.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.49 190.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.93 190.25 Td ($9.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.82 190.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.20 190.25 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.19 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.69 190.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 178.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 178.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 178.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.10 178.25 Td (, and amortization of out-of-market leases, net, increased rental revenue by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.19 178.25 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.09 178.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.52 178.25 Td ($1.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 166.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 166.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Expected future amortization of in-place leases and out-of-market leases, net, including out-of-market ground leases for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.99 730.10 Td (July 1, 2014 through December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.85 730.10 Td ( and for each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.37 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.37 730.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.48 730.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.48 730.10 Td ( is as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 671.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 671.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 671.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 641.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 641.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 641.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 611.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 611.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 611.60 89.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 671.6 m 469.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 671.6 m 562.5 671.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 676.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.30 676.28 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.55 686.28 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.30 676.28 Td (Leases, Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.27 Td (July 1, 2014 through December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 661.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 661.27 Td (24,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 661.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 661.32 Td (\(1,987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 661.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 646.27 Td (36,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 646.32 Td (\(1,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 646.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 631.27 Td (26,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 631.32 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 631.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 616.27 Td (18,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 616.27 Td (681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 601.27 Td (14,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 601.27 Td (343) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 573.10 Td ( Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 549.10 Td (In connection with its directly-owned properties, the Company has entered into non-cancelable lease agreements with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 537.10 Td (tenants for space. ) Tj ET Q q 0 0 0 rg BT 121.64 537.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.08 537.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.91 537.10 Td (, the approximate fixed future minimum rentals for the period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.94 537.10 Td (July 1, 2014 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.10 Td (December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 525.10 Td (, for each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.67 525.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.67 525.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.77 525.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.77 525.10 Td ( and thereafter are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 478.60 422.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 478.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 422.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 448.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 418.60 422.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 418.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 388.60 422.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 388.60 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 478.6 m 562.5 478.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 388.6 m 562.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 374.6 m 562.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 372.6 m 562.5 372.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 483.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 493.28 Td (Fixed Future) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.25 483.28 Td (Minimum Rentals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 468.27 Td (July 1, 2014 through December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 468.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 468.27 Td (85,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 453.27 Td (166,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 438.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 438.27 Td (146,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 423.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 423.27 Td (126,214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 408.27 Td (106,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 393.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 393.27 Td (519,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 378.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 378.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 378.27 Td (1,151,188) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 350.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 350.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.54 350.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.04 350.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.87 350.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.31 350.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.31 350.10 Td (, the Company did not earn more than 10% of its revenue from any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (individual tenant.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 314.10 Td (4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 59.50 314.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 89.95 314.10 Td (Acquisitions of Real Estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 290.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.61 290.10 Td (six months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.93 290.10 Td (, the Company acquired the assets and assumed certain liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.63 290.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.85 290.10 Td ( real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 278.10 Td (operating properties located in the United States, for an aggregate net purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.75 278.10 Td ($688.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.64 278.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 254.10 Td (The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 242.10 Td (price of each property acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.21 242.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.21 242.10 Td ( as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 165.60 97.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.25 165.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.25 165.60 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.25 165.60 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 165.60 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.25 165.60 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.25 165.60 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.25 165.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.25 165.60 49.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.25 165.60000000000002 m 146.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 150.25 165.60000000000002 m 206.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.25 165.60000000000002 m 283.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 287.25 165.60000000000002 m 332.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 165.60000000000002 m 391.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 395.25 165.60000000000002 m 454.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 165.60000000000002 m 508.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512.25 165.60000000000002 m 561.25 165.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.40 170.28 Td (Property Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.25 180.28 Td (Acquisition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.75 170.28 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.55 180.28 Td (Building and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.20 170.28 Td (Improvements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.85 170.28 Td (Land) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.75 190.28 Td (In-place) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.00 180.28 Td (Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.35 170.28 Td (Intangibles) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.40 210.28 Td (Out-of-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.10 200.28 Td (Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.00 190.28 Td (Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.10 180.28 Td (Intangibles,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.75 170.28 Td (Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.85 210.28 Td (Discount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.40 200.28 Td (related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.40 190.28 Td (assumed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.45 180.28 Td (mortgage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.55 170.28 Td (loan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.30 190.28 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.60 180.28 Td (Purchase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.10 170.28 Td (Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 155.27 Td (Grocery-Anchored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 145.27 Td (Portfolio ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 89.81 149.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.95 145.27 Td (01/01/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.90 145.27 Td (102,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.85 145.27 Td (63,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.90 145.27 Td (24,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.55 145.32 Td (\(12,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.40 145.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.05 145.32 Td (\(500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.40 145.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.75 145.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.85 145.27 Td (178,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 130.27 Td (Howard Hughes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 120.27 Td (Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.95 120.27 Td (01/15/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.90 120.27 Td (278,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.85 120.27 Td (138,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.90 120.27 Td (101,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.55 120.32 Td (\(8,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.40 120.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.40 120.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.75 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.85 120.27 Td (510,748) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 92.10 Td (The Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 219.44 92.10 Td (T) Tj ET Q q 0 0 0 rg BT 225.20 92.10 Td (ransaction, which was a step acquisition, was accounted for as a business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 80.10 Td (combination resulting in the assets acquired and liabilities assumed being recorded at fair value as a result of the step ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 68.10 Td (acquisition. Prior to the acquisition, the joint venture with ) Tj ET Q q 0 0 0 rg BT 318.89 68.10 Td (W) Tj ET Q q 0 0 0 rg BT 327.53 68.10 Td (eingarten was considered a variable interest entity and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 56.10 Td (was accounted for under the equity method of accounting, since the Company did not have the ability to direct the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 742.10 Td (significant activities that af) Tj ET Q q 0 0 0 rg BT 193.89 742.10 Td (fect the economic performance of the joint venture. ) Tj ET Q q 0 0 0 rg BT 404.18 742.10 Td (The Company received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.97 742.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.86 742.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 730.10 Td (cash as a result of the step acquisition and determined that the fair value of the Company) Tj ET Q q 0 0 0 rg BT 443.17 730.10 Td (s previously held interest was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 718.10 Td ($167.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.39 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 149.21 718.10 Td (The fair value of the Company) Tj ET Q q 0 0 0 rg BT 275.00 718.10 Td (s equity interest was estimated using market-based measurements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 706.10 Td (including cash flow and other valuation techniques. ) Tj ET Q q 0 0 0 rg BT 294.15 706.10 Td (The fair value measurement is based on both significant inputs for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 694.10 Td (similar assets and liabilities in comparable markets and significant inputs that are not observable in the markets in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 682.10 Td (accordance with the Company) Tj ET Q q 0 0 0 rg BT 209.62 682.10 Td (s fair value measurements accounting policy) Tj ET Q q 0 0 0 rg BT 386.96 682.10 Td (. Key assumptions include: third-party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 670.10 Td (broker valuation estimates; discount rates ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.05 670.10 Td (6.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.88 670.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.66 670.10 Td (9.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.49 670.10 Td (; a terminal capitalization rate for similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 658.10 Td (properties; and factors that the Company believes market participants would consider in estimating fair value. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 646.10 Td (addition, the Company recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.68 646.10 Td ($13.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.57 646.10 Td ( gain, which represented the dif) Tj ET Q q 0 0 0 rg BT 412.45 646.10 Td (ference between the book value and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 634.10 Td (the fair value of the Company) Tj ET Q q 0 0 0 rg BT 207.96 634.10 Td (s previously held equity method investment in the joint venture with ) Tj ET Q q 0 0 0 rg BT 483.57 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 492.21 634.10 Td (eingarten and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 622.10 Td (has been included in the line item, Gain \(loss\) on sale or dissolution of unconsolidated joint venture in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 610.10 Td (condensed consolidated statements of operations and comprehensive income \(loss\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 586.10 Td (The weighted average amortization period for the intangible assets and liabilities acquired in connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.79 586.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.79 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.10 Td (acquisitions, as of the date of the acquisition, was as follows \(in years\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 539.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.75 539.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.75 539.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.75 539.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.75 539.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.75 539.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.75 539.60 92.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.75 539.6 m 370.75 539.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.75 539.6 m 374.75 539.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.75 539.6 m 465.75 539.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.75 539.6 m 469.75 539.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.75 539.6 m 561.75 539.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.05 544.28 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.35 554.28 Td (Above-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.20 544.28 Td (Lease Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.40 554.28 Td (Below-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.35 544.28 Td (Lease Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 529.27 Td (Grocery-Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 529.27 Td (15.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 529.27 Td (7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 529.27 Td (39.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 514.27 Td (Howard Hughes Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 514.27 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 514.27 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 514.27 Td (6.1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.10 Td (The table below includes the amounts of revenue and net income \(loss\) of the acquisitions completed during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.93 486.10 Td (six months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.10 Td (ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.71 474.10 Td (, which are included in the Company) Tj ET Q q 0 0 0 rg BT 281.95 474.10 Td (s condensed consolidated statements of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.10 Td (comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.06 462.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.16 462.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.98 462.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.81 462.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 427.60 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.25 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.25 427.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.25 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.25 427.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 427.60 124.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 397.60 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.25 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.25 397.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.25 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.25 397.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 397.60 124.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.25 427.6 m 194.25 427.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 298.25 427.6 m 433.25 427.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 427.6 m 437.25 427.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.25 427.6 m 561.25 427.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 298.25 427.6 m 433.25 427.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 432.28 Td (2014 Acquisitions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.00 442.28 Td (For the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 432.28 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.40 442.28 Td (For the Six Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.70 432.28 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 417.28 Td (Grocery -Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.75 417.27 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 417.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.90 417.27 Td (4,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.75 417.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 417.27 Td (9,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.75 402.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.40 402.27 Td (945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.75 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 402.27 Td (1,771) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 387.28 Td (Howard Hughes Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.75 387.27 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.90 387.27 Td (11,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.75 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.90 387.27 Td (22,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.75 372.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 372.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.55 372.32 Td (\(3,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.40 372.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.75 372.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.55 372.32 Td (\(6,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.40 372.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 344.10 Td (The following unaudited consolidated information is presented to give ef) Tj ET Q q 0 0 0 rg BT 359.19 344.10 Td (fect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.67 344.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.67 344.10 Td ( acquisitions through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 344.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 332.10 Td ( as if the acquisitions occurred on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.40 332.10 Td (January1, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 332.10 Td (. ) Tj ET Q q 0 0 0 rg BT 274.82 332.10 Td (This information excludes activity that is non-recurring and not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (representative of the Company) Tj ET Q q 0 0 0 rg BT 175.29 320.10 Td (s future activity) Tj ET Q q 0 0 0 rg BT 237.40 320.10 Td (, primarily acquisition fees and expenses of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.46 320.10 Td (0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.35 320.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.79 320.10 Td (1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.68 320.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.59 308.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.42 308.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.25 308.10 Td (, respectively and the gain on the dissolution of our joint venture as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (Grocery ) Tj ET Q q 0 0 0 rg BT 84.21 296.10 Td (Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 164.01 296.10 Td (T) Tj ET Q q 0 0 0 rg BT 169.77 296.10 Td (ransaction was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.41 296.10 Td ($1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.31 296.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.74 296.10 Td ($13.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.64 296.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.01 296.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.11 296.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.93 296.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.76 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (and the gain on the sale of our investment in Distribution Park Rio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.12 284.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.01 284.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.45 284.10 Td ($16.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.34 284.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.72 284.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.81 284.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.83 272.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.66 272.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 216.32 272.10 Td (. ) Tj ET Q q 0 0 0 rg BT 221.14 272.10 Td (The information below is not necessarily indicative of what the actual results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (operations would have been had the Company completed these transactions on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.91 260.10 Td (January1, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.51 260.10 Td (, nor does it purport to represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 105.88 248.10 Td (s future operations \(amounts in thousands, except per share amounts\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.25 199.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.25 199.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.25 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.25 199.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 199.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.25 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.25 199.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.25 159.60 186.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.25 159.60 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.25 159.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.25 159.60 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 159.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 159.60 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.25 159.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.25 159.60 76.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 240.25 199.60000000000002 m 316.25 199.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 316.25 199.60000000000002 m 320.25 199.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 320.25 199.60000000000002 m 396.25 199.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 199.60000000000002 m 476.25 199.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.25 199.60000000000002 m 556.25 199.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.50 228.28 Td (For) Tj ET Q q 0 0 0 rg BT 270.87 228.28 Td ( the ) Tj ET Q q 0 0 0 rg BT 289.02 228.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 305.50 228.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.70 218.28 Td ( June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.40 228.28 Td (For) Tj ET Q q 0 0 0 rg BT 436.77 228.28 Td ( the Six Months Ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.95 218.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.10 204.28 Td (Pro Forma 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.10 204.28 Td (Pro Forma 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.10 204.28 Td (Pro Forma 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.10 204.28 Td (Pro Forma 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.75 189.27 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.75 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.90 189.27 Td (58,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.75 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.90 189.27 Td (59,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.75 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.90 189.27 Td (120,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.75 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.90 189.27 Td (118,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.75 174.27 Td (Net income \(loss\) from continuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.75 164.27 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.75 164.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.90 164.27 Td (38,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.75 164.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.90 164.27 Td (72,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.75 164.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.90 164.27 Td (69,788) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.75 164.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 164.27 Td (59,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.75 149.27 Td (Basic and diluted income \(loss\) from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.75 139.27 Td (continuing operations per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.75 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.90 139.27 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.75 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.90 139.27 Td (0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.75 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 139.27 Td (0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.75 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 139.27 Td (0.25) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (5.Discontinued Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (In 2013, the Company sold ) Tj ET Q q 0 0 0 rg BT 178.92 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 187.96 718.25 Td (illiams ) Tj ET Q q 0 0 0 rg BT 217.50 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 222.91 718.25 Td (ower) Tj ET Q q 0 0 0 rg BT 242.50 718.25 Td (, One ) Tj ET Q q 0 0 0 rg BT 266.48 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 275.52 718.25 Td (ilshire and the Raytheon/DIRECTV) Tj ET Q q 0 0 0 rg BT 418.92 718.25 Td ( buildings. ) Tj ET Q q 0 0 0 rg BT 465.97 718.25 Td (The operating results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (these properties have been reclassified and reported as income \(loss\) from discontinued operations in the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (consolidated statements of operations and comprehensive income \(loss\) below) Tj ET Q q 0 0 0 rg BT 363.15 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 370.10 694.25 Td (As described in Note 2 Summary of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 95.83 682.25 Td (Accounting Policies Recent ) Tj ET Q q 0 0 0 rg BT 221.36 682.25 Td (Accounting Pronouncements, the Company adopted amendments to the Codification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (regarding discontinued operations ef) Tj ET Q q 0 0 0 rg BT 196.16 670.25 Td (fective January 1, 2014. ) Tj ET Q q 0 0 0 rg BT 296.41 670.25 Td (As a result, none of the Company) Tj ET Q q 0 0 0 rg BT 433.33 670.25 Td (s dispositions for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.89 670.25 Td (three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.67 658.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.50 658.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.33 658.25 Td ( were classified as discontinued operations.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.75 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 588.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 588.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 588.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 588.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 588.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 588.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 588.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.75 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 558.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 558.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 558.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 558.75 4.00 -15.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 494.50 468.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 438.75 228.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 438.75 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 438.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 438.75 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 438.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 438.75 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 438.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 438.75 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 378.75 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 378.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 378.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 378.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 378.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 378.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 378.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 378.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.75 228.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 348.75 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 348.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 348.75 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 348.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 348.75 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 348.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 348.75 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.75 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 308.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 308.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 308.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 308.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 308.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 308.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 308.75 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 618.75 m 346.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 618.75 m 418.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 618.75 m 490.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 618.75 m 562.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 558.75 m 346.5 558.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 558.75 m 418.5 558.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 558.75 m 490.5 558.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 558.75 m 562.5 558.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 453.75 m 346.5 453.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 453.75 m 418.5 453.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 453.75 m 490.5 453.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 453.75 m 562.5 453.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 438.75 m 346.5 438.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 438.75 m 418.5 438.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 438.75 m 490.5 438.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 438.75 m 562.5 438.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 393.75 m 346.5 393.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 393.75 m 418.5 393.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 393.75 m 490.5 393.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 393.75 m 562.5 393.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 348.75 m 346.5 348.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 348.75 m 418.5 348.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 348.75 m 490.5 348.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 348.75 m 562.5 348.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 308.75 m 346.5 308.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 308.75 m 418.5 308.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 308.75 m 490.5 308.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 308.75 m 562.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 294.75 m 346.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 292.75 m 346.5 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 294.75 m 418.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 292.75 m 418.5 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 294.75 m 490.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 292.75 m 490.5 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 294.75 m 562.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 292.75 m 562.5 292.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.00 638.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 638.43 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.50 638.43 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.00 623.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 623.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 623.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.00 623.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 608.43 Td (\(In thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 593.43 Td (Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.42 Td (Rental revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 578.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 578.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 578.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 578.42 Td (11,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 578.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 578.47 Td (\(56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 578.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 578.42 Td (30,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.42 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 563.42 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 563.42 Td (2,932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 563.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 563.42 Td (6,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 548.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 548.42 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 548.42 Td (14,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 548.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 548.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 548.42 Td (36,945) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 533.43 Td (Expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 518.42 Td (Property operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 518.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 518.42 Td (3,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 518.42 Td (171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 518.42 Td (9,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.42 Td (Real property taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 503.42 Td (1,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 503.42 Td (4,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.42 Td (Property management fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 488.42 Td (334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 488.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 488.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 473.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 473.42 Td (3,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 473.42 Td (7,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 458.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 458.42 Td (2,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 458.42 Td (2,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 443.42 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 443.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 443.42 Td (11,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 443.42 Td (170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 443.42 Td (24,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 428.42 Td (Income \(loss\) from discontinued operations before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 418.42 Td (interest income \(expense\), benefit \(provision\) for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.42 Td (income taxes and gain \(loss\) on sale of discontinued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 398.42 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 398.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 398.42 Td (3,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 398.47 Td (\(209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 398.42 Td (12,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 383.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 383.47 Td (\(2,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 383.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 383.47 Td (\(6,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 383.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.42 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 368.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 368.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 368.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 368.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 368.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.42 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 353.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 353.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 353.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 353.47 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 353.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 353.47 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 353.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.42 Td (Income \(loss\) from discontinued operations before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 328.42 Td (gain \(loss\) on sale of discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 328.47 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 328.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 328.42 Td (842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 328.47 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 328.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 328.42 Td (5,474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 313.42 Td (Gain \(loss\) on sale of discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 313.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 313.42 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 313.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 313.42 Td (144,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 298.42 Td (Income \(loss\) from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 298.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 298.47 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 298.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 298.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 298.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 298.42 Td (979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 298.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 298.47 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 298.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 298.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 298.42 Td (149,568) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 270.25 Td (The tables below show income \(loss\) and income \(loss\) per share attributable to common stockholders allocated between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.25 Td (continuing operations and discontinued operations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 193.75 211.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 193.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 193.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 193.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 193.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 193.75 74.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 193.75 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 193.75 74.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 143.75 211.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 143.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 143.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 143.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 143.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 143.75 74.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 143.75 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 143.75 74.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 79.75 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 79.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 79.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 79.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 79.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 79.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 79.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 79.75 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 207.75 m 331.5 207.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 207.75 m 405.5 207.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 207.75 m 483.5 207.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 207.75 m 562.5 207.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 143.75 m 331.5 143.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 143.75 m 405.5 143.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 143.75 m 483.5 143.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 143.75 m 562.5 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 119.75 m 331.5 119.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 117.75 m 331.5 117.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 119.75 m 405.5 119.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 117.75 m 405.5 117.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 119.75 m 483.5 119.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 117.75 m 483.5 117.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 119.75 m 562.5 119.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 117.75 m 562.5 117.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 79.75 m 261.5 79.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 226.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.45 226.43 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.00 226.43 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 212.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.00 212.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.00 212.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.00 212.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 212.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 198.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.60 198.43 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 183.42 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 173.42 Td (attributable to common stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 173.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 173.42 Td (40,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 173.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 173.42 Td (76,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 173.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 173.42 Td (82,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 173.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 173.42 Td (93,763) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.42 Td (Income \(loss\) from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 148.42 Td (attributable to common stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.30 148.47 Td (\(22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 148.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 148.42 Td (929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 148.47 Td (\(193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 148.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 148.42 Td (141,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 133.42 Td (Net income \(loss\) attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 123.42 Td (stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 123.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 123.42 Td (40,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 123.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 123.42 Td (77,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 123.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 123.42 Td (82,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 123.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 123.42 Td (235,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 94.43 Td (Basic and diluted income \(loss\) per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 84.43 Td (attributable to commonstockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 69.42 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 69.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 69.42 Td (0.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 69.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 69.42 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 69.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 69.42 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 69.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 69.42 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 54.42 Td (Income \(loss\) from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 54.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 54.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 54.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 54.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 54.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 54.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 54.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 54.42 Td (0.61) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (6. Investments in Unconsolidated Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 706.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 706.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.71 706.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.30 706.10 Td (, the Company owned indirect investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 706.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 706.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.59 706.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.59 706.10 Td ( properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 694.10 Td (, through its interest in the Core Fund. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 670.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.03 670.10 Td (, the Company also owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.84 670.10 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.17 670.10 Td ( interest in the Grocery-Anchored Portfolio, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (accounted for as an equity method investment. In January 2014, the Company completed the Grocery-Anchored Portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 646.10 Td (ransaction. See Note 4 Recent ) Tj ET Q q 0 0 0 rg BT 192.94 646.10 Td (Acquisitions of Real Estate for additional information regarding the Grocery-Anchored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 87.88 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 93.63 634.10 Td (ransaction. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td (During 2013, the amounts on our balance sheet for investments in unconsolidated entities included the Core Fund and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Grocery-Anchored Portfolio, which was dissolved on January 1, 2014. See Note1 Or) Tj ET Q q 0 0 0 rg BT 404.19 598.10 Td (ganization Investment Property for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (additional information regarding the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 313.63 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 319.38 586.10 Td (ransaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 562.10 Td (The table below presents the activity of the Company) Tj ET Q q 0 0 0 rg BT 286.93 562.10 Td (s unconsolidated entities as of and for the periods presented \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 497.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 497.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 497.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 497.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 497.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 467.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 467.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 467.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 467.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 467.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 437.60 226.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 437.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 437.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 437.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 437.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 437.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 437.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 437.60 72.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 497.6 m 343.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 497.6 m 414.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 497.6 m 486.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 497.6 m 343.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 497.6 m 414.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 497.6 m 486.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 412.6 m 343.5 412.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 412.6 m 414.5 412.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 412.6 m 486.5 412.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 412.6 m 562.5 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 398.6 m 343.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 396.6 m 343.5 396.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 398.6 m 414.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 396.6 m 414.5 396.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 398.6 m 486.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 396.6 m 486.5 396.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 398.6 m 562.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 396.6 m 562.5 396.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.45 517.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.50 517.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.50 502.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 502.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 502.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 502.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.27 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 487.27 Td (226,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 487.27 Td (300,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 487.27 Td (393,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 487.27 Td (329,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.27 Td (Contributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 472.27 Td (10,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 472.27 Td (10,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.27 Td (Distributions declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 457.32 Td (\(33,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 457.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 457.32 Td (\(929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 457.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 457.32 Td (\(85,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 457.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 457.32 Td (\(6,518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 457.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.27 Td (Equity in earnings \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 442.27 Td (41,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 442.27 Td (78,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 442.27 Td (82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 442.27 Td (81,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.27 Td (Effect of sale or dissolution of unconsolidated joint) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 417.27 Td (venture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 417.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 417.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 417.32 Td (\(156,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 417.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 417.32 Td (\(25,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 417.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 402.27 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 402.27 Td (234,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 402.27 Td (388,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 402.27 Td (234,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 402.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 402.27 Td (388,970) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 374.10 Td ( Condensed financial information for the Core Fund is summarized as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 286.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 286.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 286.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 286.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 260.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 260.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 260.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 260.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 234.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 234.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 234.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 234.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 208.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 208.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 208.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 208.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 182.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 182.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 182.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 156.60 322.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 156.60 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 156.60 93.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 312.6 m 465.5 312.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 312.6 m 562.5 312.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 247.60000000000002 m 465.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 247.60000000000002 m 562.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 235.60000000000002 m 465.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 233.60000000000002 m 465.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 235.60000000000002 m 562.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 233.60000000000002 m 562.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 156.60000000000002 m 465.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 156.60000000000002 m 562.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 144.60000000000002 m 465.5 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 142.60000000000002 m 465.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 144.60000000000002 m 562.5 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 142.60000000000002 m 562.5 142.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.20 342.33 Td (Condensed Consolidated Balance Sheets for the Core Fund) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.45 316.33 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 316.33 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 303.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.35 290.33 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 375.00 290.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 472.00 290.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 277.17 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 277.17 Td (210,261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 277.17 Td (112,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 264.17 Td (Investment property, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 264.17 Td (1,863,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 264.17 Td (2,042,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 251.17 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 251.17 Td (455,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 251.17 Td (590,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 238.17 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 238.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 238.17 Td (2,529,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 238.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 238.17 Td (2,745,451) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 147.55 212.33 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 212.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 212.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 199.17 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 199.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 199.17 Td (1,202,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 199.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 199.17 Td (1,327,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 186.17 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 186.17 Td (191,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 186.17 Td (260,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 173.17 Td (Redeemable noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 173.17 Td (257,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 173.17 Td (268,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 160.17 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 160.17 Td (878,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 160.17 Td (888,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 147.17 Td (Total Liabilities and Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 147.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 147.17 Td (2,529,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 147.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 147.17 Td (2,745,451) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The Core Fund sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.22 742.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.20 742.10 Td ( properties during each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.16 742.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 742.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.48 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.92 742.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.92 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 462.74 742.10 Td (The results of operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (for all of these properties, except for ) Tj ET Q q 0 0 0 rg BT 198.09 730.10 Td (The KPMG Building and 720 Olive ) Tj ET Q q 0 0 0 rg BT 344.01 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 352.65 730.10 Td (ay) Tj ET Q q 0 0 0 rg BT 361.44 730.10 Td (, have been reclassified into discontinued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (operations for all periods presented, which are reflected in the table below) Tj ET Q q 0 0 0 rg BT 345.90 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 350.72 718.10 Td (The Core Fund has elected to adopt the amendments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (to the Codification that provide guidance on reporting discontinued operations early) Tj ET Q q 0 0 0 rg BT 385.37 706.10 Td (, ef) Tj ET Q q 0 0 0 rg BT 397.96 706.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.66 706.10 Td (January1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.26 706.10 Td (, and as a result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (did not report the sale of ) Tj ET Q q 0 0 0 rg BT 150.35 694.10 Td (The KPMG Building and 720 Olive ) Tj ET Q q 0 0 0 rg BT 296.27 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 304.91 694.10 Td (ay in discontinued operations for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.95 694.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 682.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.60 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 588.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 588.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 588.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 588.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.60 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 558.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 558.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 558.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.60 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 528.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 528.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 528.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 528.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 528.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 528.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 528.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 498.60 225.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 498.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 498.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 498.60 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 498.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 498.60 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 498.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 498.60 72.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 603.6 m 343.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 603.6 m 412.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 603.6 m 486.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 603.6 m 562.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 543.6 m 343.5 543.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 543.6 m 412.5 543.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 543.6 m 486.5 543.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 543.6 m 562.5 543.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 513.6 m 343.5 513.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 513.6 m 412.5 513.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 513.6 m 486.5 513.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 513.6 m 562.5 513.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 473.6 m 343.5 473.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 473.6 m 412.5 473.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 473.6 m 486.5 473.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 473.6 m 562.5 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 459.6 m 343.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 457.6 m 343.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 459.6 m 412.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 457.6 m 412.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 459.6 m 486.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 457.6 m 486.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 459.6 m 562.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 457.6 m 562.5 457.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.80 650.28 Td (Condensed Consolidated Statements of Operations for the Core Fund) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.95 623.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 623.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.00 608.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.50 608.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 608.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 608.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 593.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.50 593.28 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 578.27 Td (60,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 578.27 Td (64,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 578.27 Td (123,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 578.27 Td (128,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.27 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 563.27 Td (62,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 563.27 Td (71,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 563.27 Td (127,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 563.27 Td (137,261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.27 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 548.27 Td (182,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 548.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 548.27 Td (182,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 548.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.27 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 533.27 Td (180,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.80 533.32 Td (\(7,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 533.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 533.27 Td (177,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 533.32 Td (\(9,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 533.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 518.27 Td (Income \(loss\) from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.30 518.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 518.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 518.27 Td (728,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 518.27 Td (174,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 518.27 Td (745,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 503.27 Td (180,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 503.27 Td (721,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 503.27 Td (352,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 503.27 Td (736,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.27 Td (Less \(income\) loss allocated to noncontrolling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.27 Td (interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 478.32 Td (\(35,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 478.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.80 478.32 Td (\(430,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 478.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 478.32 Td (\(66,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 478.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 478.32 Td (\(436,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 478.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 463.27 Td (Net income \(loss\) attributable to parent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 463.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 463.27 Td (144,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 463.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 463.27 Td (290,932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 463.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 463.27 Td (286,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 463.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 463.27 Td (300,792) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 435.10 Td (The following discusses items of significance for the periods presented for the Company) Tj ET Q q 0 0 0 rg BT 425.13 435.10 Td (s equity method investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 411.10 Td (In January 2014, the Core Fund sold 101 Second Street for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.63 411.10 Td ($297.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.53 411.10 Td (. 101 Second Street was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.20 399.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.47 399.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.12 399.10 Td ($157.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.01 399.10 Td (. ) Tj ET Q q 0 0 0 rg BT 355.46 399.10 Td (As a result of the sale of 101 Second Street, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (Core Fund recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.39 387.10 Td ($174.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.29 387.10 Td (. ) Tj ET Q q 0 0 0 rg BT 275.23 387.10 Td (As a result of the sale, the Company recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.55 387.10 Td ($41.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 375.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (operations and comprehensive income \(loss\) for the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 363.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.98 363.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 339.10 Td (In May 2014, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 203.37 339.10 Td (The KPMG Building for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.37 339.10 Td ($274.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.26 339.10 Td (. ) Tj ET Q q 0 0 0 rg BT 467.58 339.10 Td (The KPMG Bulding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.10 Td (was acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.25 327.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.52 327.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.17 327.10 Td ($148.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.06 327.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.51 327.10 Td (As a result of the sale of ) Tj ET Q q 0 0 0 rg BT 473.02 327.10 Td (The KPMG Building, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (the Core Fund recognized a gain on sale of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.11 315.10 Td (155.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 315.10 Td (. ) Tj ET Q q 0 0 0 rg BT 289.95 315.10 Td (As a result of the sale, the Company recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.26 315.10 Td ($37.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 303.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td (operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.66 291.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.75 291.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.58 291.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.41 291.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 267.10 Td (In June 2014, the Core Fund sold 720 Olive ) Tj ET Q q 0 0 0 rg BT 245.58 267.10 Td (W) Tj ET Q q 0 0 0 rg BT 254.22 267.10 Td (ay for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.21 267.10 Td ($101.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.11 267.10 Td (. 720 Olive ) Tj ET Q q 0 0 0 rg BT 483.14 267.10 Td (W) Tj ET Q q 0 0 0 rg BT 491.78 267.10 Td (ay was acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 255.10 Td (January 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.88 255.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.53 255.10 Td ($83.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.42 255.10 Td (. ) Tj ET Q q 0 0 0 rg BT 301.87 255.10 Td (As a result of the sale of 720 Olive ) Tj ET Q q 0 0 0 rg BT 443.60 255.10 Td (W) Tj ET Q q 0 0 0 rg BT 452.24 255.10 Td (ay) Tj ET Q q 0 0 0 rg BT 461.03 255.10 Td (, the Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.10 Td (recognized a gain on sale of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.39 243.10 Td (26.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.29 243.10 Td (. ) Tj ET Q q 0 0 0 rg BT 225.23 243.10 Td (As a result of the sale, the Company recognized a gain of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.55 243.10 Td (5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.44 243.10 Td (, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.10 Td (included in equity in earnings \(losses\) of unconsolidated entities, net, in the consolidated statements of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 219.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.66 219.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.48 219.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.31 219.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 195.10 Td (Due to the deterioration in the financial condition of Douglas Corporate Center) Tj ET Q q 0 0 0 rg BT 383.89 195.10 Td (, the Core Fund elected to not make debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (service payments on the secured, nonrecourse mortgage loan at the property) Tj ET Q q 0 0 0 rg BT 353.40 183.10 Td (. ) Tj ET Q q 0 0 0 rg BT 358.22 183.10 Td (This resulted in a default, and ef) Tj ET Q q 0 0 0 rg BT 487.16 183.10 Td (fective January 2, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (2013, a foreclosure on the property by the lender in which the Core Fund relinquished all rights and title to the property and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.10 Td (was relieved of the entire value of the mortgage loan. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (7.Debt Financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 718.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 718.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.71 718.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.30 718.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.34 718.25 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.45 718.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.89 718.25 Td ($796.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.78 718.25 Td ( of debt outstanding, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 706.25 Td (, with a weighted average years to maturity of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.71 706.25 Td (2.9 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.24 706.25 Td (3.3 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.34 706.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 428.00 706.25 Td (, and a weighted average interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.32 694.25 Td (4.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.15 694.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.58 694.25 Td (5.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.41 694.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 192.08 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 196.89 694.25 Td (The following table includes all of the Company) Tj ET Q q 0 0 0 rg BT 393.79 694.25 Td (s outstanding notes payable balances as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 682.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.66 682.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.10 682.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.68 682.25 Td ( \(in thousands, except interest rates\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 590.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 590.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 590.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 590.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 590.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 590.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 590.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 590.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 590.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 590.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 590.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 560.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 560.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 560.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 560.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 560.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 530.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 530.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 530.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 530.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 530.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 530.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 500.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 500.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 500.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 500.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 500.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 500.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 470.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 470.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 470.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 470.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 470.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 470.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 430.75 210.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 430.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 430.75 55.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 430.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 430.75 60.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 430.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 430.75 46.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 430.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 430.75 60.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 430.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 430.75 61.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 378.75 210.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 378.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 378.75 55.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 378.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 378.75 60.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 378.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 378.75 46.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 378.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 378.75 60.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 378.75 4.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 378.75 61.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 327.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 327.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 327.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 327.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 327.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 327.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 327.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 327.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 327.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 327.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 327.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 296.75 210.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 296.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 296.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 296.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 296.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 296.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 296.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 296.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 296.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 296.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 296.75 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 246.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 246.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 246.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 246.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 246.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 246.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 246.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 246.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 246.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 246.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 246.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 216.75 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 216.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 216.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 216.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 216.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 216.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 216.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 216.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 216.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 216.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 216.75 61.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 605.75 m 260.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 605.75 m 319.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 605.75 m 383.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 605.75 m 433.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 605.75 m 497.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 605.75 m 562.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 246.75 m 497.5 246.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 246.75 m 562.5 246.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 216.75 m 497.5 216.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 216.75 m 562.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 202.75 m 497.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 200.75 m 497.5 200.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 202.75 m 562.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 200.75 m 562.5 200.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 610.43 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.05 620.43 Td (Maturity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.50 610.43 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.40 630.43 Td (Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 620.43 Td (Rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.25 610.43 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.40 620.43 Td (Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.00 610.43 Td (Rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 610.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.25 640.43 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.30 630.43 Td (Outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.80 620.43 Td (at June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 610.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.75 640.43 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.80 630.43 Td (Outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.50 620.43 Td (at December) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 610.43 Td (31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 595.43 Td (SECURED MORTGAGE DEBT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.42 Td (Arapahoe Business Park I) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.40 580.42 Td (6/11/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 580.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 580.42 Td (5.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 580.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 580.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 580.42 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 580.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 580.42 Td (9,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 565.42 Td (Arapahoe Business Park II) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.05 565.42 Td (11/11/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 565.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 565.42 Td (5.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 565.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 565.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 565.42 Td (9,656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 565.42 Td (9,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 550.42 Td (1515S.Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 550.42 Td (9/1/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 550.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 550.42 Td (4.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 550.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 550.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 550.42 Td (38,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 550.42 Td (38,741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 535.42 Td (345 Inverness Drive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.90 535.42 Td (12/11/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 535.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 535.42 Td (5.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 535.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 535.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 535.42 Td (14,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 535.42 Td (14,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 520.42 Td (Airport Corporate Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 520.42 Td (9/1/2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 520.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 520.42 Td (5.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 520.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 520.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 520.42 Td (78,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 520.42 Td (78,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 505.42 Td (JPMorgan Chase Tower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 505.42 Td (2/1/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 505.42 Td (Variable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 505.42 Td (2.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 505.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 505.42 Td (155,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 505.42 Td (156,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 490.42 Td (Heritage Station) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 490.42 Td (1/1/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 490.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 490.42 Td (5.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 490.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 490.42 Td (5,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 475.42 Td (Thompson Bridge Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 475.42 Td (3/1/2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 475.42 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 475.42 Td (6.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 475.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 475.42 Td (5,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 475.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 460.43 Td (HSH POOLED MORTGAGE FACILITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.32 Td (Citymark, 321 North Clark, 1900 and 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.32 Td (Alameda) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 446.32 Td (8/1/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 446.32 Td (Fixed via) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 436.32 Td (swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 446.32 Td (5.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 446.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 446.32 Td (185,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 446.32 Td (185,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.32 Td (3400 Data Drive, 2100 Powell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.20 421.32 Td (1/23/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 421.32 Td (Fixed via) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 411.32 Td (swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 421.32 Td (5.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 421.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 421.32 Td (98,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 421.32 Td (98,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 395.32 Td (Daytona and Laguna Buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 395.32 Td (5/2/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 395.32 Td (Fixed via) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 385.32 Td (swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 395.32 Td (5.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 395.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 395.32 Td (119,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 395.32 Td (119,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 369.32 Td (3 Huntington Quadrangle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.20 369.32 Td (7/19/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 369.32 Td (Fixed via) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 359.32 Td (swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 369.32 Td (5.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 369.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 369.32 Td (48,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 369.32 Td (48,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 343.32 Td (5th and Bell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.20 343.32 Td (8/14/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.25 343.32 Td (Fixed via) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 333.32 Td (swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 343.32 Td (6.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 343.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 343.32 Td (39,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 343.32 Td (39,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 317.43 Td (OTHER NOTES PAYABLE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 301.42 Td (JPMor) Tj ET Q q 0 0 0 rg BT 79.49 301.42 Td (gan ) Tj ET Q q 0 0 0 rg BT 95.88 301.42 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 171.99 301.42 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 218.91 305.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.15 301.42 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 301.42 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.80 301.42 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 301.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 301.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 286.42 Td (JPMorgan Chase Revolving Credit Facility -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.42 Td (Revolving Loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 287.32 Td (4/1/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 287.32 Td (Variable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 287.32 Td (1.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 287.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 287.32 Td (106,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 287.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.42 Td (JPMorgan Chase Revolving Credit Facility - Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 251.42 Td (Loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 262.32 Td (4/1/2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 262.32 Td (Variable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 262.32 Td (1.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 262.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 262.32 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 262.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 236.43 Td (TOTAL PRINCIPAL OUTSTANDING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 236.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 236.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 236.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 236.42 Td (1,110,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 236.42 Td (796,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 221.42 Td (Unamortized Discount) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 143.81 225.95 Td ( \(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 221.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 221.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 221.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 221.47 Td (\(503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 221.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 221.47 Td (\(1,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 221.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 206.43 Td (NOTES PAYABLE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 206.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 206.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 206.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 206.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 206.42 Td (1,110,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 206.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 206.42 Td (795,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 202.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (See the discussion following the heading JPMor) Tj ET Q q 0 0 0 rg BT 283.02 178.25 Td (gan ) Tj ET Q q 0 0 0 rg BT 299.40 178.25 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 375.51 178.25 Td (Agreement below for additional information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (regarding the Company's acquisition credit facility) Tj ET Q q 0 0 0 rg BT 287.93 166.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.25 Td (The Company assumed notes payable in connection with various acquisitions, which were recorded at their estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.25 Td (fair value as of the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 241.60 130.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 270.57 130.25 Td (ference between the fair value at acquisition and the principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.25 Td (outstanding is amortized over the term of the related note.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 94.25 Td (JPMor) Tj ET Q q 0 0 0 rg BT 86.40 94.25 Td (gan ) Tj ET Q q 0 0 0 rg BT 103.72 94.25 Td (Acquisition Cr) Tj ET Q q 0 0 0 rg BT 161.96 94.25 Td (edit ) Tj ET Q q 0 0 0 rg BT 179.27 94.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 193.90 94.25 Td (eement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 70.25 Td (In January 2014, a subsidiary of the Operating Partnership entered into an acquisition credit agreement \(the JPMor) Tj ET Q q 0 0 0 rg BT 530.74 70.25 Td (gan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 126.11 58.25 Td (Agreement\) with JPMor) Tj ET Q q 0 0 0 rg BT 227.57 58.25 Td (gan Chase Bank, N.A. \(Chase\) to establish a $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.69 58.25 Td (425.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.58 58.25 Td ( unsecured term loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (facility \(the Acquisition Credit Facility\). In connection with the acquisition of the Howard Hughes Center in January 2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (the Company borrowed the full capacity under the ) Tj ET Q q 0 0 0 rg BT 253.27 742.10 Td (Acquisition Credit Facility) Tj ET Q q 0 0 0 rg BT 359.83 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.15 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 384.65 742.10 Td (Acquisition Credit Facility had a maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.99 730.10 Td (May15, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.82 730.10 Td ( with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.59 730.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.59 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.09 730.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.09 730.10 Td (-day extension options. ) Tj ET Q q 0 0 0 rg BT 281.08 730.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 330.99 730.10 Td (, in connection with this financing, the ) Tj ET Q q 0 0 0 rg BT 486.79 730.10 Td (Advisor agreed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (waive the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.36 718.10 Td (4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.25 718.10 Td ( debt financing fee that otherwise would be payable to the ) Tj ET Q q 0 0 0 rg BT 398.78 718.10 Td (Advisor pursuant to the ) Tj ET Q q 0 0 0 rg BT 494.89 718.10 Td (Advisory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 682.10 Td (April 2014, a subsidiary of the Company entered into a credit agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 420.12 682.10 Td (Agreement\) with Chase, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 111.94 670.10 Td (Agent for itself and various lenders named in the Credit ) Tj ET Q q 0 0 0 rg BT 336.88 670.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 386.12 670.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 431.11 670.10 Td (Agreement provides for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (borrowings up to $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 658.10 Td (225.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.72 658.10 Td ( under a revolving credit facility \(the Revolving Loan Commitment\) and up to $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.80 658.10 Td (200.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 646.10 Td ( under a term loan \(the T) Tj ET Q q 0 0 0 rg BT 182.04 646.10 Td (erm Loan Commitment\), which the Company refers to collectively as the Revolving Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Facility. Upon entry into the Credit ) Tj ET Q q 0 0 0 rg BT 197.48 634.10 Td (Agreement in ) Tj ET Q q 0 0 0 rg BT 254.13 634.10 Td (April 2014, the Company borrowed $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.66 634.10 Td (170.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.55 634.10 Td ( under the Revolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Loan Commitment and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.26 622.10 Td (200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.16 622.10 Td ( under the ) Tj ET Q q 0 0 0 rg BT 246.46 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 251.87 622.10 Td (erm Loan Commitment to repay $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.23 622.10 Td (370.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.12 622.10 Td ( in loans outstanding under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (the JPMor) Tj ET Q q 0 0 0 rg BT 91.21 610.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 107.60 610.10 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 183.71 610.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 235.45 610.10 Td (The Company also made an additional payment of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.84 610.10 Td (10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.73 610.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 505.96 610.10 Td (April 2014 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (on the JPMor) Tj ET Q q 0 0 0 rg BT 103.71 598.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 120.10 598.10 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 196.21 598.10 Td (Agreement so that the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 598.10 Td (380.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.89 598.10 Td ( in loans outstanding under the agreement as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (March 31, 2014 was repaid. ) Tj ET Q q 0 0 0 rg BT 163.96 586.10 Td (The Revolving Loan Commitment has a maturity date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.08 586.10 Td (April1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.68 586.10 Td (, subject to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.73 586.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.17 586.10 Td (-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (extension at the option of the Company) Tj ET Q q 0 0 0 rg BT 207.10 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 211.92 574.10 Td (The ) Tj ET Q q 0 0 0 rg BT 229.79 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.20 574.10 Td (erm Loan Commitment has a maturity date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 574.10 Td (April1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.76 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 478.58 574.10 Td (The Revolving Loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Commitment had an all-in interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.01 562.10 Td (1.86%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.84 562.10 Td ( on the date of the borrowing and the ) Tj ET Q q 0 0 0 rg BT 393.89 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 399.30 562.10 Td (erm Loan Commitment had an all-in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.25 550.10 Td (1.76%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.08 550.10 Td ( on the date of the borrowing. In connection with this financing, the Company's ) Tj ET Q q 0 0 0 rg BT 455.60 550.10 Td (Advisor agreed to waive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.98 538.10 Td (4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.87 538.10 Td ( debt financing fee otherwise payable to the ) Tj ET Q q 0 0 0 rg BT 315.47 538.10 Td (Advisor pursuant to the ) Tj ET Q q 0 0 0 rg BT 411.58 538.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 450.75 538.10 Td (Agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td (The following table summarizes required principal payments on the Company) Tj ET Q q 0 0 0 rg BT 383.20 514.10 Td (s outstanding notes payable for the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.94 502.10 Td (July 1, 2014 through December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.80 502.10 Td (, for each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.88 502.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.88 502.10 Td ( through December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.58 502.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.58 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (for the period thereafter \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.60 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 124.50 428.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 428.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 428.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 428.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 428.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 428.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 124.5 452.6 m 227.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 452.6 m 231.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 452.6 m 293.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 452.6 m 297.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 452.6 m 359.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 452.6 m 363.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 452.6 m 425.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 452.6 m 429.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 452.6 m 491.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 452.6 m 495.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 452.6 m 562.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 124.5 452.6 m 227.5 452.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 124.5 428.6 m 227.5 428.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 428.6 m 293.5 428.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 428.6 m 359.5 428.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 428.6 m 425.5 428.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 428.6 m 491.5 428.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 428.6 m 562.5 428.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.20 457.28 Td (Principal Payments due by Period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 433.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.65 443.28 Td (July 1, 2014 through) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.15 433.28 Td (December 31, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.00 433.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.00 433.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.00 433.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.00 433.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.60 433.28 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 418.27 Td (Notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.15 418.27 Td (1,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 418.27 Td (26,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 418.27 Td (392,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 418.27 Td (411,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 418.27 Td (205,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 418.27 Td (72,327) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 390.10 Td (The Company is not aware of any instances of noncompliance with financial covenants as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.82 390.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 390.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (8.Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 342.10 Td (The Company has several interest rate swap transactions with HSH Nordbank ) Tj ET Q q 0 0 0 rg BT 381.54 342.10 Td (AG, New ) Tj ET Q q 0 0 0 rg BT 421.99 342.10 Td (Y) Tj ET Q q 0 0 0 rg BT 428.21 342.10 Td (ork Branch \(HSH Nordbank\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (These swap transactions were entered into as economic hedges against the variability of future interest rates on the Company) Tj ET Q q 0 0 0 rg BT 552.61 330.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (variable interest rate borrowings with HSH Nordbank. ) Tj ET Q q 0 0 0 rg BT 269.77 318.10 Td (The Company has not designated any of its derivative instruments as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (hedging instruments for accounting purposes. ) Tj ET Q q 0 0 0 rg BT 234.79 306.10 Td (The interest rate swaps have been recorded at their estimated fair value in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (accompanying condensed consolidated balance sheets and changes in the fair value were recorded in gain \(loss\) on derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (instruments, net in the Company) Tj ET Q q 0 0 0 rg BT 183.04 282.10 Td (s condensed consolidated statements of operations. See Note 14 Fair ) Tj ET Q q 0 0 0 rg BT 474.18 282.10 Td (V) Tj ET Q q 0 0 0 rg BT 480.30 282.10 Td (alue Disclosures for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 246.10 Td (The tables below provide additional information regarding each of the Company) Tj ET Q q 0 0 0 rg BT 392.90 246.10 Td (s outstanding interest rate swaps \(all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (amounts are in thousands except for interest rates\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 187.60 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 187.60 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 187.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 187.60 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 187.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 187.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 187.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 157.60 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 157.60 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 157.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 157.60 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 157.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 157.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 157.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 127.60 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.50 127.60 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 127.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 127.60 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 127.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 127.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 127.60 96.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 187.60000000000002 m 161.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 161.5 187.60000000000002 m 266.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 187.60000000000002 m 364.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 187.60000000000002 m 466.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 187.60000000000002 m 562.5 187.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.35 192.28 Td (Effective Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.15 192.28 Td (Expiration Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.15 192.28 Td (Notional Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 202.28 Td (Interest Rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 192.28 Td (Received) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.20 192.28 Td (Interest Rate Paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 177.27 Td (August 1, 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.80 177.27 Td (August 1, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 177.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 177.27 Td (185,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 177.27 Td (LIBOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 177.27 Td (5.4575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 177.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 162.27 Td (January 12, 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.20 162.27 Td (January 12, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 162.27 Td (98,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 162.27 Td (LIBOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 162.27 Td (4.8505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 162.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 147.27 Td (May 1, 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.05 147.27 Td (May 1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 147.27 Td (119,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 147.27 Td (LIBOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 147.27 Td (4.9550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 147.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 132.27 Td (July 17, 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.40 132.27 Td (July 17, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 132.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 132.27 Td (48,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 132.27 Td (LIBOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 132.27 Td (5.5800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 132.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 117.27 Td (July 27, 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.40 117.27 Td (July 24, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 117.27 Td (39,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 117.27 Td (LIBOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 117.27 Td (5.5800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 117.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The Company has not entered into any master netting arrangements with its third-party counterparties and does not of) Tj ET Q q 0 0 0 rg BT 539.08 742.10 Td (fset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (on its consolidated condensed balance sheets the fair value amounts recorded for derivative instruments. ) Tj ET Q q 0 0 0 rg BT 471.90 730.10 Td (The table below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (presents the fair value of the Company) Tj ET Q q 0 0 0 rg BT 207.73 718.10 Td (s derivative instruments included in Liabilities-Interest Rate Swap Contracts on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 706.10 Td (s condensed consolidated balance sheets, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.94 706.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.77 706.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.21 706.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.79 706.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.60 332.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 654.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 654.60 99.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 668.6 m 459.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 668.6 m 463.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 654.6 m 459.5 654.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 654.6 m 562.5 654.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 654.6 m 459.5 654.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 639.6 m 459.5 639.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 654.6 m 562.5 654.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 639.6 m 562.5 639.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 639.6 m 459.5 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 625.6 m 459.5 625.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 623.6 m 459.5 623.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 639.6 m 562.5 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 625.6 m 562.5 625.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 623.6 m 562.5 623.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.70 673.28 Td (Liability Derivatives Fair Value) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 659.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 659.28 Td (Derivatives not designated as hedging instruments for) Tj ET Q q 0 0 0 rg BT 282.51 659.28 Td ( accounting purposes:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.45 659.28 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 659.28 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 644.27 Td (Interest rate swap contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 644.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 644.27 Td (58,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 644.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 644.27 Td (67,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.27 Td (Total derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 629.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 629.27 Td (58,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 629.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 629.27 Td (67,652) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 601.10 Td (The table below presents the ef) Tj ET Q q 0 0 0 rg BT 192.49 601.10 Td (fects of the changes in fair value of the Company) Tj ET Q q 0 0 0 rg BT 392.15 601.10 Td (s derivative instruments in the Company) Tj ET Q q 0 0 0 rg BT 556.84 601.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.95 589.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.04 589.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.87 589.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 577.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 577.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 577.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.60 223.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 536.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 536.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 536.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 536.60 71.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 536.6 m 340.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 536.6 m 411.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 536.6 m 487.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 536.6 m 562.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 536.6 m 340.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 521.6 m 340.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 536.6 m 411.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 521.6 m 411.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 536.6 m 487.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 521.6 m 487.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 536.6 m 562.5 536.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 521.6 m 562.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 521.6 m 340.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 507.6 m 340.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 505.6 m 340.5 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 521.6 m 411.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 507.6 m 411.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 505.6 m 411.5 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 521.6 m 487.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 507.6 m 487.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 505.6 m 487.5 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 521.6 m 562.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 507.6 m 562.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 505.6 m 562.5 505.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.45 556.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.00 556.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.50 541.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.50 541.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 541.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 541.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.27 Td (Gain \(loss\) on interest rate swap, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 526.27 Td (3,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 526.27 Td (13,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 526.27 Td (9,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 526.27 Td (19,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 511.27 Td (3,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 511.27 Td (13,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 511.27 Td (9,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 511.27 Td (19,544) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 483.10 Td (9.Distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 459.10 Td (W) Tj ET Q q 0 0 0 rg BT 77.04 459.10 Td (ith the authorization of its board of directors, the Company declared distributions in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.22 459.10 Td ($0.00138082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.72 459.10 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 447.10 Td (share, per day for the period from July 2010 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 447.10 Td (March 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.04 447.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.98 447.10 Td ($0.00041425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.48 447.10 Td ( of such per share, per day distributions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 435.10 Td (the period from July 201) Tj ET Q q 0 0 0 rg BT 148.50 435.10 Td (1 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.61 435.10 Td (March 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.21 435.10 Td ( were designated by the Company as special distributions, which represent a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (return of a portion of the stockholders) Tj ET Q q 0 0 0 rg BT 204.21 423.10 Td ( invested capital and, as such, reduced their remaining investment in the Company) Tj ET Q q 0 0 0 rg BT 532.92 423.10 Td (. ) Tj ET Q q 0 0 0 rg BT 537.73 423.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (special distributions were funded with a portion of the proceeds from sales of investment property) Tj ET Q q 0 0 0 rg BT 441.47 411.10 Td (. ) Tj ET Q q 0 0 0 rg BT 446.29 411.10 Td (The above designation of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (portion of the distributions as special distributions does not impact the tax treatment of the distributions to the Company) Tj ET Q q 0 0 0 rg BT 533.26 399.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (stockholders. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 363.10 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.72 363.10 Td (March25, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.32 363.10 Td (, the Company declared a distribution of approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.43 363.10 Td (198.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.32 363.10 Td (, resulting in a distribution to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (stockholders of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.88 351.10 Td (0.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.38 351.10 Td ( per share that was paid during the three months ended June 30, 2013 to all stockholders of record as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (April2, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.61 339.10 Td (, which is reflected in the table below) Tj ET Q q 0 0 0 rg BT 252.91 339.10 Td (. ) Tj ET Q q 0 0 0 rg BT 260.22 339.10 Td (This distribution was designated by the Company as a special distribution, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.10 Td (which was a return of a portion of the stockholders) Tj ET Q q 0 0 0 rg BT 256.14 327.10 Td ( invested capital and, as such, reduced their remaining investment in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 315.10 Td (. ) Tj ET Q q 0 0 0 rg BT 93.06 315.10 Td (The special distribution represents a portion of the proceeds from the sale of ) Tj ET Q q 0 0 0 rg BT 400.28 315.10 Td (W) Tj ET Q q 0 0 0 rg BT 409.32 315.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 438.86 315.10 Td (T) Tj ET Q q 0 0 0 rg BT 444.27 315.10 Td (ower and other strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.10 Td (asset sales. ) Tj ET Q q 0 0 0 rg BT 96.20 303.10 Td (The special distribution was not subject to reinvestment pursuant to the Company) Tj ET Q q 0 0 0 rg BT 425.30 303.10 Td (s dividend reinvestment plan and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td (was paid in cash. In the aggregate, the Company has declared special distributions totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.84 291.10 Td ($1.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.34 291.10 Td ( per share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 267.10 Td (Further) Tj ET Q q 0 0 0 rg BT 97.04 267.10 Td (, with the authorization of its board of directors, the Company declared distributions for the period from ) Tj ET Q q 0 0 0 rg BT 514.44 267.10 Td (April 2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.06 255.10 Td (August) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.95 255.10 Td ( 2014. ) Tj ET Q q 0 0 0 rg BT 139.27 255.10 Td (These distributions were or will be calculated based on stockholders of record each day during this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.10 Td (period in an amount equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.19 243.10 Td ($0.00073973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.69 243.10 Td ( per share, per day and will be paid on the first day of the month following the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.10 Td (quarter to which they relate in cash, or reinvested in stock for those participating in the Company's dividend reinvestment plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (This rate per share, per day) Tj ET Q q 0 0 0 rg BT 158.19 219.10 Td (, reflects a reduction from the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.97 219.10 Td (0.00138082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.47 219.10 Td ( per share, per day rate that was declared previously) Tj ET Q q 0 0 0 rg BT 538.51 219.10 Td (, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (described above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The table below outlines the Company) Tj ET Q q 0 0 0 rg BT 225.47 742.10 Td (s total distributions declared to stockholders andnoncontrolling interests for each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the quarters during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.03 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.03 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.47 730.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.47 730.10 Td (, including the breakout between the distributions paid in cash and those reinvested pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (to the Company) Tj ET Q q 0 0 0 rg BT 116.66 718.10 Td (s dividend reinvestment plan \(all amounts are in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 644.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 644.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 644.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 644.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 644.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 644.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 614.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 614.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 614.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 614.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 614.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 614.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 584.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 584.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 584.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 584.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 584.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 554.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 554.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 554.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 554.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 554.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 524.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 524.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 524.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 524.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 524.60 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 683.6 m 320.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 683.6 m 324.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 683.6 m 390.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 683.6 m 394.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 683.6 m 455.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 683.6 m 544.5 683.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 659.6 m 249.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 659.6 m 320.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 659.6 m 390.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 659.6 m 455.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 659.6 m 544.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 659.6 m 249.5 659.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 644.6 m 249.5 644.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 614.6 m 320.5 614.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 600.6 m 320.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 598.6 m 320.5 598.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 614.6 m 390.5 614.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 600.6 m 390.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 598.6 m 390.5 598.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 614.6 m 455.5 614.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 600.6 m 455.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 598.6 m 455.5 598.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 614.6 m 544.5 614.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 600.6 m 544.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 598.6 m 544.5 598.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 569.6 m 249.5 569.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 569.6 m 249.5 569.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 509.6 m 320.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 509.6 m 390.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 509.6 m 455.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 509.6 m 544.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 495.6 m 320.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 493.6 m 320.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 495.6 m 390.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 493.6 m 390.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 495.6 m 455.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 493.6 m 455.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 495.6 m 544.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 493.6 m 544.5 493.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 688.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.20 688.28 Td (Stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 688.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.35 698.28 Td (Noncontrolling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.95 688.28 Td (Interests) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 664.28 Td (Distributions for the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.65 674.28 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.40 664.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.90 674.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.65 664.28 Td (Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.55 674.28 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.40 664.28 Td (Declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 664.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.25 664.28 Td (Total Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 649.28 Td (2014 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 653.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.27 Td (June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 634.27 Td (9,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 634.27 Td (5,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 634.27 Td (15,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 634.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 619.27 Td (March 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 619.27 Td (9,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 619.27 Td (5,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 619.27 Td (15,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 619.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 604.27 Td (19,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 604.27 Td (11,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 604.27 Td (30,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 604.27 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 574.28 Td (2013 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 578.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 559.27 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 559.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 559.27 Td (9,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 559.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 559.27 Td (5,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 559.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 559.27 Td (15,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 559.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 559.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.27 Td (September 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 544.27 Td (9,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 544.27 Td (5,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 544.27 Td (15,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 544.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.27 Td (June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 529.27 Td (9,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 529.27 Td (5,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 529.27 Td (15,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 529.27 Td (960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.27 Td (March 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 514.27 Td (214,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 514.27 Td (11,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 514.27 Td (226,068) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 458.00 519.43 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 514.27 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 499.27 Td (244,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 499.27 Td (28,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 499.27 Td (273,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 499.27 Td (1,248) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 471.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 471.10 Td (Except as noted below) Tj ET Q q 0 0 0 rg BT 175.60 471.10 Td (, excluded from this table are distributions declared with respect to the Participation Interest \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 459.10 Td (discussed further in Note 10 Related Party ) Tj ET Q q 0 0 0 rg BT 270.22 459.10 Td (T) Tj ET Q q 0 0 0 rg BT 275.98 459.10 Td (ransactions\). ) Tj ET Q q 0 0 0 rg BT 331.62 459.10 Td (The amount of distributions declared with respect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 447.10 Td (Participation Interest for the quarters ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.04 447.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.88 447.10 Td ( and March 31, 2014 were $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.34 447.10 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.23 447.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.67 447.10 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.56 447.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 435.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 133.66 435.10 Td (. ) Tj ET Q q 0 0 0 rg BT 138.48 435.10 Td (The distributions declared with respect to the Participation Interest for the quarters ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 423.10 Td (2013, September 30, 2013, June 30, 2013 and March 31, 2013 were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.56 423.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 423.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.45 423.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.34 423.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.34 423.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.23 423.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.67 423.10 Td ($1.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 411.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 411.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 167.55 411.10 Td (. Included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 411.10 Td ($226.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.92 411.10 Td ( amount declared for the three months ended March 31, 2013 in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 399.10 Td (the above table is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.91 399.10 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.81 399.10 Td ( special distribution declared in March 2013 to the Participation Interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 375.10 Td (As stated above, a portion of the total distributions declared were designated by the Company as special distributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 363.10 Td (and funded using proceeds from sales of investment properties, which represented a return of a portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 351.10 Td (stockholders, and noncontrolling interest holders) Tj ET Q q 0 0 0 rg BT 283.83 351.10 Td ( invested capital. For the year ended December 31, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.58 351.10 Td ($206.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 339.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 339.10 Td ( of the total distributions declared to the Company) Tj ET Q q 0 0 0 rg BT 318.74 339.10 Td (s stockholders and non-controlling interests were paid using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 327.10 Td (such sales proceeds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (10.Related Party T) Tj ET Q q 0 0 0 rg BT 131.56 742.25 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The table below outlines fees incurred and expense reimbursements payable to Hines, the ) Tj ET Q q 0 0 0 rg BT 427.88 718.25 Td (Advisor and Hines Securities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Inc. for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.65 706.25 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.74 706.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.56 706.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.39 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.83 706.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.83 706.25 Td ( and outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 706.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.93 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.37 706.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.95 706.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (\(all amounts are in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 618.75 169.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 618.75 47.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 618.75 46.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 618.75 47.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 618.75 47.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 618.75 67.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 618.75 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 554.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 554.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 554.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 554.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 554.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 554.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 524.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 524.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 524.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 524.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 524.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 524.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 494.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 494.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 494.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 494.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 494.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 494.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 464.75 169.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 464.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 464.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 464.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 464.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 464.75 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 464.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 464.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 404.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 404.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 404.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 404.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 404.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 404.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 404.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 404.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 656.75 m 270.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 656.75 m 274.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 656.75 m 320.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 656.75 m 324.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 656.75 m 371.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 656.75 m 375.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 656.75 m 422.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 656.75 m 493.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 656.75 m 497.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 656.75 m 562.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 656.75 m 493.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 618.75 m 219.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 618.75 m 270.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 618.75 m 320.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 618.75 m 371.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 618.75 m 422.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.75 m 493.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 618.75 m 562.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 618.75 m 270.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 618.75 m 320.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 618.75 m 371.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 618.75 m 422.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.75 m 493.5 618.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 584.75 m 493.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 582.75 m 493.5 582.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 618.75 m 562.5 618.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 584.75 m 562.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 582.75 m 562.5 582.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 554.75 m 219.5 554.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 404.75 m 493.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 404.75 m 562.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 390.75 m 493.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 388.75 m 493.5 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 390.75 m 562.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 388.75 m 562.5 388.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.40 661.43 Td (Incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.00 661.43 Td (Unpaid as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.00 647.43 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.70 637.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.50 647.43 Td (Six Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.20 637.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.70 637.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.40 637.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 623.43 Td (Type and Recipient) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 623.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.00 623.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.50 623.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 623.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 623.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 623.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.42 Td (Participation Interest in the Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 598.42 Td (Partnership HALP) Tj ET Q q 0 0 0 rg BT 134.29 598.42 Td ( ) Tj ET Q q 0 0 0 rg BT 136.24 598.42 Td (Associates Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.42 Td (Partnership) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 98.55 592.95 Td ( \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 588.42 Td (4,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 588.42 Td (4,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.10 588.42 Td (11,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 588.42 Td (9,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 588.42 Td (100,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 588.42 Td (91,376) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 559.43 Td (Due to Affiliates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.00 559.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.42 Td (Acquisition Fee the ) Tj ET Q q 0 0 0 rg BT 140.77 544.42 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 175.49 548.95 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 544.42 Td (1,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.42 Td (Asset Management Fee the Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 529.42 Td (3,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 529.42 Td (3,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 529.42 Td (7,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 529.42 Td (7,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 529.42 Td (1,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 529.42 Td (1,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.42 Td (Debt Financing Fee the ) Tj ET Q q 0 0 0 rg BT 156.04 514.42 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 190.76 518.95 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 514.42 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.42 Td (Other the Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 499.42 Td (1,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 499.42 Td (961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 499.42 Td (1,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 499.42 Td (1,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 499.42 Td (357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 499.42 Td (767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 484.42 Td (Property Management Fee Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 484.42 Td (1,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 484.42 Td (1,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 484.42 Td (2,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 484.42 Td (2,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 484.42 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 484.47 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 484.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.42 Td (Leasing Fee Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 469.42 Td (845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 469.42 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 469.42 Td (869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 469.42 Td (1,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 469.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 469.42 Td (1,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 454.42 Td (Tenant Construction Management Fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.42 Td ( Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 444.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 444.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 444.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 444.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 444.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 444.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 429.42 Td (Expense Reimbursements Hines \(with) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.42 Td (respect to management and operation of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.42 Td (the Companys properties\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 409.42 Td (3,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 409.42 Td (3,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 409.42 Td (7,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 409.42 Td (7,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 409.42 Td (1,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 409.42 Td (214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 394.42 Td (Due to Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 394.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 394.42 Td (5,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 394.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 394.42 Td (3,686) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 366.25 Td (The Company recorded a liability related to the Participation Interest based on its estimated settlement value in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 354.25 Td (accompanying condensed consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 309.35 354.25 Td (This liability is remeasured at fair value based on the related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 342.25 Td (redemption price in place as of the date of each balance sheet plus any unpaid distributions. ) Tj ET Q q 0 0 0 rg BT 456.43 342.25 Td (As described previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 330.25 Td (in Note 9 Distributions, the Company declared an $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.85 330.25 Td (0.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.35 330.25 Td ( special distribution \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.88 330.25 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.78 330.25 Td (, in total, to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 318.25 Td (Participation Interest\) to all stockholders of the Company in March 2013, which represented a reduction in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 306.25 Td (Participation Interest liability to reflect a return of capital for the period ending March 31, 2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 282.25 Td (In connection with the acquisition of the Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 344.14 282.25 Td (, the Company was obligated to pay approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 270.25 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.89 270.25 Td ( of acquisition fees to the ) Tj ET Q q 0 0 0 rg BT 237.65 270.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 269.47 270.25 Td (, half of which was payable in cash and half of which was payable as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 258.25 Td (increase to the Participation Interest. ) Tj ET Q q 0 0 0 rg BT 237.15 258.25 Td (The ) Tj ET Q q 0 0 0 rg BT 254.65 258.25 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 331.31 258.25 Td (, the holder of the Participation Interest, agreed to waive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.25 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.89 246.25 Td ( of the cash acquisition fee and the entire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.21 246.25 Td ($2.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.11 246.25 Td ( acquisition fee payable related to the Participation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 234.25 Td (Interest, respectively) Tj ET Q q 0 0 0 rg BT 168.65 234.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 210.25 Td (In connection with the financing pursuant to the JPMor) Tj ET Q q 0 0 0 rg BT 306.89 210.25 Td (gan ) Tj ET Q q 0 0 0 rg BT 323.28 210.25 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 399.38 210.25 Td (Agreement, the ) Tj ET Q q 0 0 0 rg BT 462.97 210.25 Td (Advisor agreed to waive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 198.25 Td (the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.98 198.25 Td (4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.87 198.25 Td ( debt financing fee that otherwise would be payable to the ) Tj ET Q q 0 0 0 rg BT 408.41 198.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 440.08 198.25 Td (. ) Tj ET Q q 0 0 0 rg BT 444.53 198.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 494.43 198.25 Td (, in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 186.25 Td (with the financing pursuant to the JPMor) Tj ET Q q 0 0 0 rg BT 249.69 186.25 Td (gan Credit ) Tj ET Q q 0 0 0 rg BT 293.57 186.25 Td (Agreement, the ) Tj ET Q q 0 0 0 rg BT 357.16 186.25 Td (Advisor agreed to waive the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.66 186.25 Td (4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.55 186.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 174.25 Td (debt financing fee otherwise payable to the ) Tj ET Q q 0 0 0 rg BT 260.10 174.25 Td (Advisor pursuant to the ) Tj ET Q q 0 0 0 rg BT 356.21 174.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 395.38 174.25 Td (Agreement. See Note 7 Debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 162.25 Td (Financing for additional information on the debt financing fee waived.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (1) Tj ET Q q 0 0 0 rg BT 54.45 742.25 Td (1. Changes in ) Tj ET Q q 0 0 0 rg BT 113.54 742.25 Td (Assets and Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 93.63 718.25 Td (fect of the changes in asset and liability accounts on cash flows from operating activities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.79 718.25 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.79 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.27 706.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.27 706.25 Td ( is as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 654.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 654.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 654.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 624.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 624.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 624.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 624.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 594.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 594.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 594.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 594.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 564.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 564.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 564.75 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 654.75 m 484.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 654.75 m 562.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 654.75 m 484.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 654.75 m 562.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 549.75 m 484.5 549.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 549.75 m 562.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 535.75 m 484.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 533.75 m 484.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 535.75 m 562.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 533.75 m 562.5 533.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 674.43 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 659.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 659.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 644.42 Td (Change in other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 644.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 644.47 Td (\(1,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 644.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 644.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 644.47 Td (\(947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 644.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.42 Td (Change in tenant and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 629.47 Td (\(5,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 629.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 629.47 Td (\(1,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 629.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.42 Td (Change in deferred leasing costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 614.47 Td (\(21,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 614.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 614.47 Td (\(20,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 614.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.42 Td (Change in accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 599.42 Td (9,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 599.47 Td (\(25,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 599.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 584.42 Td (Change in participation interest liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 584.42 Td (9,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 584.47 Td (\(3,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 584.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.42 Td (Change in other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 569.42 Td (143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 569.47 Td (\(4,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 569.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 554.42 Td (Change in due to affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 554.42 Td (1,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 554.47 Td (\(2,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.42 Td (Changes in assets and liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 539.47 Td (\(8,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 539.47 Td (\(58,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (12. Supplemental Cash Flow Disclosures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 487.25 Td (Supplemental cash flow disclosures for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 487.25 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.40 487.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.90 487.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.73 487.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.17 487.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.17 487.25 Td ( are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 419.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 419.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 419.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 389.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 389.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 389.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 359.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 359.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 359.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 359.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 329.75 360.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 329.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 329.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 329.75 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 434.75 m 484.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 434.75 m 562.5 434.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 454.43 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 439.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 439.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 439.43 Td (2013) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 424.43 Td (Supplemental Disclosure of Cash Flow Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 424.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 424.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.42 Td (Cash paid for interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 409.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 409.42 Td (21,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 409.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 409.42 Td (29,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 394.42 Td (Cash paid for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 394.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 394.42 Td (264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 394.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 394.42 Td (553) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 379.43 Td (Supplemental Schedule of Non-Cash Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 364.42 Td (Distributions declared and unpaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 364.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 364.42 Td (15,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 364.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 364.42 Td (15,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 349.42 Td (Distributions reinvested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 349.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 349.42 Td (11,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 349.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 349.42 Td (22,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 334.42 Td (Shares tendered for redemption) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 334.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 334.42 Td (26,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.42 Td (Assumption of mortgages upon dissolution of joint venture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 319.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 319.42 Td (10,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 319.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 304.42 Td (Noncash net assets acquired upon acquisition of property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 304.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 304.42 Td (172,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 304.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 304.42 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 276.25 Td (13.Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 252.25 Td (On May 15, 2014, Norton Rose Fulbright LLP) Tj ET Q q 0 0 0 rg BT 254.02 252.25 Td ( signed a lease renewal for its space in JPMor) Tj ET Q q 0 0 0 rg BT 436.28 252.25 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 479.98 252.25 Td (T) Tj ET Q q 0 0 0 rg BT 485.39 252.25 Td (ower located in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 80.37 240.25 Td (T) Tj ET Q q 0 0 0 rg BT 85.78 240.25 Td (exas.In connection with this renewal, the Company committed to fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.60 240.25 Td ($14.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.49 240.25 Td ( of tenant improvements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (leasing commissions related to its space, to be paid in future periods.) Tj ET Q q 0 0 0 rg BT 329.66 228.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.11 228.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.94 228.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.94 228.25 Td ($13.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.83 228.25 Td ( of this commitment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.25 Td (remained unfunded and is recorded in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.83 216.25 Td (accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.53 216.25 Td ( in the accompanying condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.25 Td (balance sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 180.25 Td (The credit agreement for the HSH Nordbank pooled mortgage facility requires that the properties financed by this facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (maintain a combined occupancy at or above ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.54 168.25 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.87 168.25 Td (. ) Tj ET Q q 0 0 0 rg BT 253.82 168.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.26 168.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.09 168.25 Td (, certain properties caused the Company to fail to meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.25 Td (this occupancy requirement. ) Tj ET Q q 0 0 0 rg BT 167.46 156.25 Td (As a result, the facility) Tj ET Q q 0 0 0 rg BT 261.04 156.25 Td (s limited payment guaranty to which the Company is a party has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (triggered, requiring the Company to commit to fund a property leasing guaranty in an amount that would be required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (increase the occupancy of properties financed by this facility to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.01 132.25 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.34 132.25 Td (. ) Tj ET Q q 0 0 0 rg BT 331.29 132.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.73 132.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.56 132.25 Td (, the Company believes the amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (of this potential guaranty obligation is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.98 120.25 Td ($14.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.87 120.25 Td (. ) Tj ET Q q 0 0 0 rg BT 266.19 120.25 Td (This guaranty will be dischar) Tj ET Q q 0 0 0 rg BT 382.64 120.25 Td (ged once the portfolio of properties financed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.25 Td (by this facility achieves a combined occupancy greater than or equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.55 108.25 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.88 108.25 Td ( or once all outstanding payments of interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (principal are paid in full. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.13 96.25 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.35 96.25 Td ( liability was recorded in relation to this guaranty) Tj ET Q q 0 0 0 rg BT 362.87 96.25 Td (, as the Company believes the probability of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.25 Td (Company being required to perform under this guaranty is remote. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 60.25 Td (The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. ) Tj ET Q q 0 0 0 rg BT 506.32 60.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.25 Td (matters are generally covered by insurance. ) Tj ET Q q 0 0 0 rg BT 226.12 48.25 Td (While the resolution of these matters cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 511.48 48.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (management believes the final outcome of such matters will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 412.46 742.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 498.82 742.10 Td (s condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (consolidated financial statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (14.Fair V) Tj ET Q q 0 0 0 rg BT 93.90 706.10 Td (alue Disclosures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 682.10 Td (Assets and Liabilities Measur) Tj ET Q q 0 0 0 rg BT 184.66 682.10 Td (ed at Fair) Tj ET Q q 0 0 0 rg BT 226.13 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.45 682.10 Td (V) Tj ET Q q 0 0 0 rg BT 234.76 682.10 Td (alue on a Recurring Basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 658.10 Td (Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (The Company records liabilities related to the fair values of its interest rate swap contracts. ) Tj ET Q q 0 0 0 rg BT 434.36 634.10 Td (The valuation of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (instruments is determined based on assumptions that management believes market participants would use in pricing, using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (derivative.) Tj ET Q q 0 0 0 rg BT 97.30 598.10 Td (This analysis reflects the contractual terms of the derivatives, including the period to maturity) Tj ET Q q 0 0 0 rg BT 471.54 598.10 Td (, and uses observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (market-based inputs, including interest rate curves and implied volatilities.) Tj ET Q q 0 0 0 rg BT 353.63 586.10 Td (The fair values of the Company) Tj ET Q q 0 0 0 rg BT 483.31 586.10 Td (s interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (payments\) and the discounted expected variable cash payments \(or receipts\).) Tj ET Q q 0 0 0 rg BT 361.37 562.10 Td (The variable cash payments \(or receipts\) are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (based on an expectation of future interest rates \(forward curves\) derived from observable market interest rate curves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (Although the Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (value hierarchy) Tj ET Q q 0 0 0 rg BT 111.26 514.10 Td (, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (current credit spreads to evaluate the likelihood of default by the Company and its counterparty) Tj ET Q q 0 0 0 rg BT 430.89 502.10 Td (, HSH Nordbank. In adjusting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (the fair values of its derivative contracts for the ef) Tj ET Q q 0 0 0 rg BT 249.46 490.10 Td (fect of nonperformance risk, the Company has considered the impact of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However) Tj ET Q q 0 0 0 rg BT 498.89 478.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.55 478.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 466.10 Td (, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (its derivatives. ) Tj ET Q q 0 0 0 rg BT 110.27 442.10 Td (As a result, the Company has determined its derivative valuations are classified in Level 2 of the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 87.10 430.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.10 Td (The following fair value hierarchy table sets forth the Company) Tj ET Q q 0 0 0 rg BT 325.97 406.10 Td (s interest rate swaps which are measured at fair value on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (recurring basis, which equals book value, by level within the fair value hierarchy as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.94 394.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.77 394.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.21 394.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.79 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (\(in thousands\).) Tj ET Q q 0 0 0 rg BT 114.26 382.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 173.97 382.10 Td (s derivative financial instruments are recorded in interest rate swap contracts in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (accompanying condensed consolidated balance sheets.) Tj ET Q q 0 0 0 rg BT 273.35 370.10 Td (The Company has not designated any of its derivative instruments as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (hedging instruments for accounting purposes.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 286.60 131.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 286.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 286.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 286.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 286.60 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 286.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 286.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 286.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 286.60 91.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 320.6 m 372.5 320.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 320.6 m 376.5 320.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 320.6 m 467.5 320.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 320.6 m 471.5 320.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 320.6 m 562.5 320.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 286.6 m 181.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 286.6 m 256.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 286.6 m 372.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 286.6 m 467.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 286.6 m 562.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 286.6 m 181.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 286.6 m 256.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 286.6 m 372.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 286.6 m 467.5 286.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 286.6 m 562.5 286.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 325.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 325.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.40 325.28 Td (Basis of Fair Value Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 291.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.20 291.28 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.30 311.28 Td (Quoted Prices In Active) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.25 301.28 Td (Markets for Identical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.05 291.28 Td (Items \(Level 1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.50 311.28 Td (Significant Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.90 301.28 Td (Observable Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.75 291.28 Td (\(Level 2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.40 311.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.05 301.28 Td (Unobservable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.60 291.28 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.27 Td (June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 276.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 276.27 Td (58,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.00 276.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 276.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.00 276.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 276.27 Td (58,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 276.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 276.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.27 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 261.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 261.27 Td (67,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.00 261.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 261.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.00 261.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 261.27 Td (67,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 261.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 261.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 233.10 Td (Financial Instruments Fair) Tj ET Q q 0 0 0 rg BT 174.38 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 176.70 233.10 Td (V) Tj ET Q q 0 0 0 rg BT 183.00 233.10 Td (alue Disclosur) Tj ET Q q 0 0 0 rg BT 243.10 233.10 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 209.10 Td (Other Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 185.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 185.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 185.10 Td (, management estimated that the fair value of notes payable, which had a carrying value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.58 185.10 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.69 185.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 173.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 173.10 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.17 173.10 Td (. ) Tj ET Q q 0 0 0 rg BT 118.61 173.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.06 173.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.64 173.10 Td (, management estimated that the fair value of notes payable, which had a carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 161.10 Td (value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.99 161.10 Td ($795.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.88 161.10 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.93 161.10 Td ($794.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.82 161.10 Td (. ) Tj ET Q q 0 0 0 rg BT 230.64 161.10 Td (The discount rates used approximate current lending rates for loans or groups of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.10 Td (loans with similar maturities and credit quality) Tj ET Q q 0 0 0 rg BT 235.98 149.10 Td (, assumes the debt is outstanding through maturity and considers the debt) Tj ET Q q 0 0 0 rg BT 531.48 149.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.10 Td (collateral \(if applicable\). Management has utilized market information as available or present value techniques to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.10 Td (amounts required to be disclosed. ) Tj ET Q q 0 0 0 rg BT 186.46 125.10 Td (The Company has determined the majority of the inputs used to value its notes payable fall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.10 Td (within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 214.00 113.10 Td (, however the credit quality adjustments associated with its fair value of notes payable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.10 Td (utilize Level 3 inputs. However) Tj ET Q q 0 0 0 rg BT 175.95 101.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.61 101.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.44 101.10 Td (, the Company has assessed the significance of the impact of the credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.10 Td (quality adjustments on the overall valuations of its fair market value of notes payable and has determined that they are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (significant.) Tj ET Q q 0 0 0 rg BT 99.16 77.10 Td (As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.10 Td (estimates that are based on limited available market information for similar transactions, there can be no assurance that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.10 Td (disclosed values could be realized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 706.10 Td (filiates and distributions payable. ) Tj ET Q q 0 0 0 rg BT 195.16 706.10 Td (The carrying value of these items reasonably approximates their fair value based on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (highly-liquid nature and/or short-term maturities.Due to the short-term nature of these instruments, Level 1 and Level 2 inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (are utilized to estimate the fair value of these financial instruments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 658.10 Td (Assets and Liabilities Measur) Tj ET Q q 0 0 0 rg BT 184.66 658.10 Td (ed at Fair) Tj ET Q q 0 0 0 rg BT 226.13 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.45 658.10 Td (V) Tj ET Q q 0 0 0 rg BT 234.76 658.10 Td (alue on a Nonr) Tj ET Q q 0 0 0 rg BT 297.64 658.10 Td (ecurring Basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (Certain long-lived assets are measured at fair value on a non-recurring basis. ) Tj ET Q q 0 0 0 rg BT 381.87 634.10 Td (These assets are not measured at fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (on an ongoing basis, but are subject to fair value adjustments \(i.e., impairments\) in certain circumstances. ) Tj ET Q q 0 0 0 rg BT 476.92 622.10 Td (The fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (methodologies used to measure long-lived assets are described in Note 2 Summary of Significant ) Tj ET Q q 0 0 0 rg BT 453.53 610.10 Td (Accounting Policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Impairment of Investment Property) Tj ET Q q 0 0 0 rg BT 190.70 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 198.02 598.10 Td (The inputs associated with the valuation of long-lived assets are generally included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Level 2 or Level 3 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 229.54 586.10 Td (, as discussed below) Tj ET Q q 0 0 0 rg BT 309.99 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 314.81 586.10 Td (There were no events during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.43 586.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.42 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.92 586.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 574.10 Td ( which indicated that fair value adjustments of our long-lived assets were necessary) Tj ET Q q 0 0 0 rg BT 403.13 574.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td (Impairment of Investment Pr) Tj ET Q q 0 0 0 rg BT 182.88 550.10 Td (operty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (Investment properties are reviewed for impairment at each reporting period if events or changes in circumstances indicate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (that the carrying amount may not be recoverable. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.09 514.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.31 514.10 Td ( impairment char) Tj ET Q q 0 0 0 rg BT 329.43 514.10 Td (ges were recorded for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.54 514.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.64 514.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 502.10 Td ( on our directly-owned properties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 478.10 Td (three months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.19 478.10 Td (, the Company determined that its directly-owned investment property ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (located in El Segundo, California was impaired as a result of the contract sales price of the investment being less than its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (carrying value. Further) Tj ET Q q 0 0 0 rg BT 144.01 454.10 Td (, during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.33 454.10 Td (three months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.97 454.10 Td (, the Company determined that an additional investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (property located in Minneapolis, Minnesota was impaired due to a shortened expected hold period, which reduced the projected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (undiscounted cash flows for this asset. ) Tj ET Q q 0 0 0 rg BT 206.18 430.10 Td (This resulted in the net book value exceeding the projected undiscounted cash flows for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (this property) Tj ET Q q 0 0 0 rg BT 100.18 418.10 Td (. ) Tj ET Q q 0 0 0 rg BT 104.62 418.10 Td (As a result, this asset was written down to fair value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td (These changes in assumptions resulted in the net book value of the assets exceeding the projected undiscounted cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (for these investments. ) Tj ET Q q 0 0 0 rg BT 139.43 382.10 Td (As a result, these assets were written down to fair value. ) Tj ET Q q 0 0 0 rg BT 369.18 382.10 Td (The following table summarizes activity for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 370.10 Td (s assets measured at fair value, on a non-recurring basis, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.03 370.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.61 370.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 291.60 95.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.50 291.60 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 204.50 291.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 291.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 291.60 72.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 291.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 291.60 72.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 291.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 291.60 72.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 291.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 291.60 72.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 345.6 m 204.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 345.6 m 258.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 345.6 m 262.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 345.6 m 334.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 345.6 m 338.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 345.6 m 410.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 345.6 m 414.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 345.6 m 486.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 291.6 m 145.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 291.6 m 204.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 291.6 m 258.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 291.6 m 334.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 291.6 m 410.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 291.6 m 486.5 291.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 291.6 m 562.5 291.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.40 350.28 Td (Basis of Fair Value Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 296.28 Td (As of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.75 296.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.70 306.28 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.50 296.28 Td (of Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.85 336.28 Td (Quoted Prices) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.65 326.28 Td (In ) Tj ET Q q 0 0 0 rg BT 290.05 326.28 Td (Active) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.40 316.28 Td (Markets for) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.90 306.28 Td (Identical Items) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.25 296.28 Td (\(Level 1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.90 336.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.30 326.28 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.55 316.28 Td (Observable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.10 306.28 Td (Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.25 296.28 Td (\(Level 2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.90 326.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.55 316.28 Td (Unobservable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.10 306.28 Td (Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.25 296.28 Td (\(Level 3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 306.28 Td (Impairment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.25 296.28 Td (Loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 271.27 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.25 281.27 Td (Investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.50 271.27 Td (properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.25 271.27 Td ($170,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 271.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.50 271.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.25 271.27 Td ($170,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 271.27 Td ($33,878) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 243.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 243.10 Td (s estimated fair value of investment properties was based on a comparison of recent market activity and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.10 Td (discounted cash flow models, which include estimates of property-specific inflows and outflows over a specific holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.05 219.10 Td (Significant unobservable quantitative inputs used in determining the fair value of each investment property for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.42 207.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.01 207.10 Td ( include: a discount rate ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.02 207.10 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.35 207.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.12 207.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.45 207.10 Td (; a capitalization rate ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 207.10 Td (6.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.33 207.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (9.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 195.10 Td (; stabilized occupancy rates ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 195.10 Td (82%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.88 195.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.98 195.10 Td (95%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.31 195.10 Td (; and current market rental rates ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.24 195.10 Td ($3.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.74 195.10 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (square foot to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.49 183.10 Td ($12.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.99 183.10 Td ( per square foot.) Tj ET Q q 0 0 0 rg BT 204.78 183.10 Td (These inputs are based on the location, type and nature of each property) Tj ET Q q 0 0 0 rg BT 491.52 183.10 Td (, current and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (anticipated market conditions, and management) Tj ET Q q 0 0 0 rg BT 244.10 171.10 Td (s knowledge and expertise in real estate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 147.10 Td (15.Reportable Segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 123.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 123.10 Td (s investments in real estate are geographically diversified and management evaluates the operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.10 Td (performance of each at an individual property level. ) Tj ET Q q 0 0 0 rg BT 260.00 111.10 Td (The Company has determined it has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.64 111.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.62 111.10 Td ( reportable segments: \(1\) of) Tj ET Q q 0 0 0 rg BT 536.96 111.10 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.10 Td (properties, \(2\) a domestic industrial property and \(3\) domestic retail properties. ) Tj ET Q q 0 0 0 rg BT 368.89 99.10 Td (The of) Tj ET Q q 0 0 0 rg BT 395.08 99.10 Td (fice properties segment consists of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.88 99.10 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.88 99.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 87.10 Td (fice properties that the Company owns directly as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.75 87.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.75 87.10 Td ( of) Tj ET Q q 0 0 0 rg BT 310.40 87.10 Td (fice properties that are owned indirectly through the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 75.10 Td (s investment in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 216.75 75.10 Td (The domestic industrial property segment consists of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.88 75.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.32 75.10 Td ( directly-owned industrial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (property located in Dallas, ) Tj ET Q q 0 0 0 rg BT 158.39 63.10 Td (T) Tj ET Q q 0 0 0 rg BT 163.80 63.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 186.39 63.10 Td (The domestic retail segment consists of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.63 63.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.63 63.10 Td ( grocery-anchored shopping centers in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.10 Td (Grocery-Anchored Portfolio.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 730.10 Td (s indirect investments are accounted for using the equity method of accounting. ) Tj ET Q q 0 0 0 rg BT 447.35 730.10 Td (As such, the activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (these investments are reflected in investmentsin unconsolidated entities in the condensed consolidated balance sheets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (equity in earnings \(losses\) of unconsolidated entities, net in the condensed consolidated statements of operations. ) Tj ET Q q 0 0 0 rg BT 506.56 706.10 Td (As discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (previously) Tj ET Q q 0 0 0 rg BT 91.57 694.10 Td (, the Company completed the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 327.43 694.10 Td (T) Tj ET Q q 0 0 0 rg BT 333.19 694.10 Td (ransaction in January 2014, and the Company sold its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (indirect investment in Distribution Park Rio in January 2013, which is reflected in the tables below) Tj ET Q q 0 0 0 rg BT 445.38 682.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (The tables below provide additional information related to each of the Company) Tj ET Q q 0 0 0 rg BT 392.07 658.10 Td (s segments \(in thousands\) and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (reconciliation to the Company) Tj ET Q q 0 0 0 rg BT 174.14 646.10 Td (s net income or loss, as applicable. Corporate-Level ) Tj ET Q q 0 0 0 rg BT 387.95 646.10 Td (Accounts includes amounts incurred by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (the corporate-level entities which are not allocated to any of the reportable segments.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 557.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 557.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 557.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 557.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 557.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 527.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 527.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 527.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 527.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 527.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 497.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 497.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 497.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 497.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 497.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 497.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 467.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 467.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 467.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 467.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 467.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 467.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 437.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 437.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 437.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 437.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 437.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 437.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 437.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 437.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 407.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 407.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 407.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 407.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 407.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 377.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 377.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 377.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 377.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 377.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 377.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 377.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 377.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 347.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 347.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 347.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 347.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 347.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 347.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 347.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 347.60 51.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 572.6 m 395.5 572.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 572.6 m 451.5 572.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 572.6 m 507.5 572.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 512.6 m 395.5 512.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 512.6 m 451.5 512.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 512.6 m 507.5 512.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 512.6 m 562.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 498.6 m 395.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 496.6 m 395.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 498.6 m 451.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 496.6 m 451.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 498.6 m 507.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 496.6 m 507.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 498.6 m 562.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 496.6 m 562.5 496.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 422.6 m 395.5 422.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 422.6 m 451.5 422.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 422.6 m 507.5 422.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 422.6 m 562.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 408.6 m 395.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 406.6 m 395.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 408.6 m 451.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 406.6 m 451.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 408.6 m 507.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 406.6 m 507.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 406.6 m 562.5 406.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 332.6 m 395.5 332.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 332.6 m 451.5 332.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 332.6 m 507.5 332.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 332.6 m 562.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 318.6 m 395.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 316.6 m 395.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 318.6 m 451.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 316.6 m 451.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 318.6 m 507.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 316.6 m 507.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 318.6 m 562.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 316.6 m 562.5 316.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.50 602.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.20 592.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.00 602.28 Td (Six Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.70 592.28 Td (June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 577.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.00 577.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 577.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.00 577.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.50 577.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 562.28 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 547.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 547.27 Td (53,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 547.27 Td (41,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 547.27 Td (108,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 547.27 Td (83,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 532.27 Td (Domestic industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 532.27 Td (789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 532.27 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 532.27 Td (1,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 532.27 Td (1,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.27 Td ( Domestic retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 517.27 Td (4,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 517.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 517.27 Td (9,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 517.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 502.28 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 502.27 Td (58,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 502.27 Td (42,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 502.27 Td (118,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 502.27 Td (84,570) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 472.28 Td (Net pr) Tj ET Q q 0 0 0 rg BT 80.31 472.28 Td (operty r) Tj ET Q q 0 0 0 rg BT 114.84 472.28 Td (evenues in excess of expenses) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 238.16 476.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 472.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 457.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 457.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 457.27 Td (28,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 457.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 457.27 Td (20,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 457.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 457.27 Td (57,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 457.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 457.27 Td (41,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 442.27 Td (Domestic industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 442.27 Td (449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 442.27 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 442.27 Td (921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 442.27 Td (1,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.27 Td ( Domestic retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 427.27 Td (3,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 427.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 427.27 Td (6,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 427.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 412.28 Td (Total segment net property revenues in excess of expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 412.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 412.27 Td (31,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 412.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 412.27 Td (20,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 412.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 412.27 Td (65,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 412.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 412.27 Td (42,492) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 382.28 Td (Equity in earnings \(losses\) of unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 382.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 382.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 382.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 382.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 367.27 Td (Equity in earnings \(losses\) of domestic office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 367.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 367.27 Td (41,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 367.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 367.27 Td (78,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 367.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 367.27 Td (82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 367.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 367.27 Td (81,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 352.27 Td (Equity in earnings \(losses\) of domestic retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 352.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 352.27 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 352.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 352.27 Td (181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 337.27 Td (Equity in earnings \(losses\) of international industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 337.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 337.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 337.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 337.27 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 322.28 Td (Total equity in earnings \(losses\) of unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 322.27 Td (41,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 322.27 Td (78,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 322.27 Td (82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 322.27 Td (81,424) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 294.10 Td (Revenues less property operating expenses, real property taxes and property management fees.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 257.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 257.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 257.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 257.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 547.50 257.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 227.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 227.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 227.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 227.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 547.50 227.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 197.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 197.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 197.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 197.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 547.50 197.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 167.60 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 167.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 167.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 167.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 547.50 167.60 15.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 257.6 m 441.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 257.6 m 547.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 547.5 257.6 m 562.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 257.6 m 441.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 257.6 m 547.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 547.5 257.6 m 562.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 152.60000000000002 m 441.5 152.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 152.60000000000002 m 547.5 152.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 547.5 152.60000000000002 m 562.5 152.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 138.60000000000002 m 441.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 136.60000000000002 m 441.5 136.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 138.60000000000002 m 547.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 136.60000000000002 m 547.5 136.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 547.5 138.60000000000002 m 562.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 547.5 136.60000000000002 m 562.5 136.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 262.28 Td (Total assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.95 262.28 Td (June 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.15 262.28 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 247.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 247.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 247.27 Td (1,923,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 247.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 247.27 Td (1,489,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 232.27 Td (Domestic industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 232.27 Td (36,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 232.27 Td (36,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 217.27 Td (Domestic retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 217.27 Td (196,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 217.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 202.27 Td (Investment in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 187.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 187.27 Td (234,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 187.27 Td (237,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 172.27 Td (Domestic retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 172.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 172.27 Td (156,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 157.27 Td (Corporate-level accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 157.27 Td (185,989) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 444.00 162.43 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 157.27 Td (262,623) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 550.00 162.43 Td (\(2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 142.28 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 142.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 142.27 Td (2,575,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 142.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 142.27 Td (2,182,723) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 114.10 Td (This amount primarily consists of cash and cash equivalents at the corporate level, including the cash collateral deposit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 102.10 Td (related to the letter of credit with the Bank of Montreal. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 78.10 Td (This amount primarily consists of cash and cash equivalents at the corporate level, including proceeds from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 66.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 142.38 66.10 Td (s directly and indirectly-owned investments, proceeds from the Core Fund distribution the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 54.10 Td (received in ) Tj ET Q q 0 0 0 rg BT 132.09 54.10 Td (August 2013, and the cash collateral deposit related to the letter of credit with the Bank of Montreal. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 687.60 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 687.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 687.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 687.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 687.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 687.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 687.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 687.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 647.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 647.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 647.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 647.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 617.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 617.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 617.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 617.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 587.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 587.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 587.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 587.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 547.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 547.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 547.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 547.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 547.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 547.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 547.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 547.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 517.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 517.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 517.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 517.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 517.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 517.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 517.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 517.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 487.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 487.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 487.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 487.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 487.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 487.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 487.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 487.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 457.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 457.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 457.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 457.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 457.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 457.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 457.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 457.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 701.6 m 352.5 701.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 701.6 m 422.5 701.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 701.6 m 492.5 701.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 701.6 m 562.5 701.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 457.6 m 352.5 457.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 457.6 m 422.5 457.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 457.6 m 492.5 457.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 457.6 m 562.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 443.6 m 352.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 441.6 m 352.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 443.6 m 422.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 441.6 m 422.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 443.6 m 492.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 441.6 m 492.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 443.6 m 562.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 441.6 m 562.5 441.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 721.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.45 721.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 721.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 706.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.00 706.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 706.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 706.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 706.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 692.28 Td (Reconciliation to net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 677.27 Td (Total segment net property revenues in excess of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 667.27 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 667.27 Td (31,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 667.27 Td (20,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 667.27 Td (65,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 667.27 Td (42,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 652.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 652.32 Td (\(24,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 652.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 652.32 Td (\(12,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 652.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 652.32 Td (\(49,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 652.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 652.32 Td (\(25,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 652.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.27 Td (Acquisition related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 637.32 Td (\(163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 637.32 Td (\(269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.27 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 622.32 Td (\(8,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 622.32 Td (\(8,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 622.32 Td (\(19,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 622.32 Td (\(16,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 607.27 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 607.32 Td (\(1,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 607.32 Td (\(1,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 607.32 Td (\(3,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 607.32 Td (\(3,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.27 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 592.32 Td (\(1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 592.32 Td (\(1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 577.27 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 577.27 Td (3,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 577.27 Td (13,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 577.27 Td (9,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 577.27 Td (19,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 562.27 Td (Gain \(loss\) on sale or dissolution of unconsolidated joint) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.27 Td (venture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 552.27 Td (2,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 552.27 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 552.27 Td (13,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 552.27 Td (16,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 537.27 Td (Equity in earnings \(losses\) of unconsolidated entities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 537.27 Td (41,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 537.27 Td (78,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 537.27 Td (82,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 537.27 Td (81,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.27 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 522.27 Td (8,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 522.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 522.27 Td (9,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 522.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 507.32 Td (\(12,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 507.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 507.32 Td (\(11,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 507.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 507.32 Td (\(24,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 507.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 507.32 Td (\(25,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 507.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.27 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 492.27 Td (201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 492.27 Td (196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 492.27 Td (386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 492.27 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.27 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 477.32 Td (\(76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 477.32 Td (\(71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 477.32 Td (\(165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 477.32 Td (\(138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 462.27 Td (Income \(loss\) from discontinued operations, net of taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 462.32 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 462.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 462.27 Td (979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 462.32 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 462.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 462.27 Td (149,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 447.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 447.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 447.27 Td (40,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 447.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 447.27 Td (78,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 447.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 447.27 Td (82,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 447.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 447.27 Td (236,459) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (16. Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 395.10 Td (Airport Corporate Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 371.10 Td (In July 2014, the Company entered into a contract to sell ) Tj ET Q q 0 0 0 rg BT 296.84 371.10 Td (Airport Corporate Center) Tj ET Q q 0 0 0 rg BT 397.52 371.10 Td (, a portfolio of properties located in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (Miami ) Tj ET Q q 0 0 0 rg BT 78.61 359.10 Td (Airport submarket of Miami, Florida. ) Tj ET Q q 0 0 0 rg BT 230.54 359.10 Td (Airport Corporate Center consists of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.12 359.10 Td (1) Tj ET Q q 0 0 0 rg BT 383.75 359.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.75 359.10 Td ( buildings and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.85 359.10 Td (5.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.35 359.10 Td (-acre land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (development site. ) Tj ET Q q 0 0 0 rg BT 122.86 347.10 Td (The net contract sales price for ) Tj ET Q q 0 0 0 rg BT 248.35 347.10 Td (Airport Corporate Center is expected to be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.61 347.10 Td ($132.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.50 347.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.10 Td (exclusive of transaction costs and closing prorations. ) Tj ET Q q 0 0 0 rg BT 263.66 335.10 Td (The Company originally acquired its interest in ) Tj ET Q q 0 0 0 rg BT 455.00 335.10 Td (Airport Corporate Center ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.10 Td (in January 2006 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.54 323.10 Td ($156.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.43 323.10 Td (. ) Tj ET Q q 0 0 0 rg BT 194.25 323.10 Td (The Company expects the closing of this sale to occur in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.36 323.10 Td (September 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.62 323.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 287.10 Td (*****) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item2.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 79.99 742.25 Td ( Management) Tj ET Q q 0 0 0 rg BT 142.03 742.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 213.62 742.25 Td (Analysis of Financial Condition and Results of Operations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The following discussion and analysis of our financial condition and r) Tj ET Q q 0 0 0 rg BT 348.75 718.25 Td (esults of operations should be r) Tj ET Q q 0 0 0 rg BT 474.21 718.25 Td (ead in conjunction ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (with our unaudited condensed consolidated financial statements andthe notes ther) Tj ET Q q 0 0 0 rg BT 381.25 706.25 Td (eto included elsewher) Tj ET Q q 0 0 0 rg BT 468.08 706.25 Td (e in this Quarterly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Report on Form10-Q/A. The following discussion should also be r) Tj ET Q q 0 0 0 rg BT 317.13 694.25 Td (ead in conjunction with our audited consolidated financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (statements and the notes ther) Tj ET Q q 0 0 0 rg BT 166.28 682.25 Td (eto and Management) Tj ET Q q 0 0 0 rg BT 258.31 682.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 328.41 682.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Operations included in our ) Tj ET Q q 0 0 0 rg BT 166.48 670.25 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.84 670.25 Td (December31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.43 670.25 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.82 670.25 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.82 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 475.14 670.25 Td (Annual Report\).) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 646.25 Td (Cautionary NoteRegarding Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td (This Quarterly Report on Form10-Q/A) Tj ET Q q 0 0 0 rg BT 225.48 622.25 Td ( includes forward-looking statements within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 516.26 622.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 91.38 610.25 Td (Act of 1933, as amended, and Section21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 372.97 610.25 Td (Act of 1934, as amended. Such statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (include statements concerning future financial performance and distributions, future debt and financing levels, payments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (toHines ) Tj ET Q q 0 0 0 rg BT 85.56 586.25 Td (Advisors Limited Partnership \(the Advisor\), and its af) Tj ET Q q 0 0 0 rg BT 310.33 586.25 Td (filiates and other plans and objectives of management for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (future operations or economic performance, or assumptions or forecasts related thereto as well as all other statements that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (not historical statements. ) Tj ET Q q 0 0 0 rg BT 152.02 562.25 Td (These statements are only predictions. ) Tj ET Q q 0 0 0 rg BT 307.35 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 315.99 562.25 Td (e caution that forward-looking statements are not guarantees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Actual events or our investments and results of operations could dif) Tj ET Q q 0 0 0 rg BT 320.31 550.25 Td (fer materially from those expressed or implied in forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (looking statements. Forward-looking statements are typically identified by the use of terms such as may) Tj ET Q q 0 0 0 rg BT 469.53 538.25 Td (, should, expect, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (could, intend, plan, anticipate, estimate, believe, continue, predict, potential or the negative of such terms ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (and other comparable terminology) Tj ET Q q 0 0 0 rg BT 187.36 514.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.25 Td (The forward-looking statements included in this Quarterly Report on Form10-Q/A) Tj ET Q q 0 0 0 rg BT 400.16 490.25 Td ( are based on our current expectations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 402.16 478.25 Td (Assumptions relating to the foregoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (involve judgments with respect to, among other things, future economic, competitive and market conditions, the availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (future financing and future business decisions, all of which are dif) Tj ET Q q 0 0 0 rg BT 314.46 454.25 Td (ficult or impossible to predict accurately and many of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (are beyond our control. ) Tj ET Q q 0 0 0 rg BT 145.25 442.25 Td (Any of the assumptions underlying forward-looking statements could prove to be inaccurate. ) Tj ET Q q 0 0 0 rg BT 519.14 442.25 Td (T) Tj ET Q q 0 0 0 rg BT 524.55 442.25 Td (o the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (extent that our assumptions dif) Tj ET Q q 0 0 0 rg BT 173.13 430.25 Td (fer from actual results, our ability to meet such forward-looking statements, including our ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (to generate positive cash flow from operations, pay distributions to our stockholders and maintain the value of the real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (properties in which we hold an interest, may be significantly hindered.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.25 Td (The following are some of the risks and uncertainties, which could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 438.26 382.25 Td (fer materially from those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (presented in certain forward-looking statements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 346.25 Td (Whether we will have the opportunity to invest sales proceeds to acquire properties or other investments or whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 334.25 Td (such proceeds will be needed to redeem shares or for other purposes, and if proceeds are available for investment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 322.25 Td (our ability to make such investments in a timely manner and at appropriate amounts that provide acceptable returns;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 298.25 Td (The potential need to fund tenant improvements, lease-up costs or other capital expenditures, as well as increases in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 286.25 Td (property operating expenses and costs of compliance with environmental matters or discovery of previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 274.25 Td (undetected environmentally hazardous or other undetected adverse conditions at our properties;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 250.25 Td (Risks associated with debt;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 226.25 Td (Competition for tenants and real estate investment opportunities, including competition with af) Tj ET Q q 0 0 0 rg BT 474.74 226.25 Td (filiates of Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 214.25 Td (Interests Limited Partnership \(Hines\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 190.25 Td (Risks associated with adverse changes in general economic or local market conditions, including terrorist attacks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 178.25 Td (and other acts of violence, which may af) Tj ET Q q 0 0 0 rg BT 256.98 178.25 Td (fect the markets in which we and our tenants operate;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 154.25 Td (Catastrophic events, such as hurricanes, earthquakes, tornadoes and terrorist attacks; and our ability to secure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 142.25 Td (adequate insurance at reasonable and appropriate rates;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 118.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 118.25 Td (The failure of any bank in which we deposit our funds could reduce the amount of cash we have available to pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 106.25 Td (distributions and make additional investments;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 82.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 82.25 Td (Changes in governmental, tax, real estate and zoning laws and regulations and the related costs of compliance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 70.25 Td (increases in our administrative operating expenses, including expenses associated with operating as a public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 58.25 Td (company;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 742.10 Td (Risks relating to our investment in Hines USCore Of) Tj ET Q q 0 0 0 rg BT 308.96 742.10 Td (fice Fund LP) Tj ET Q q 0 0 0 rg BT 360.81 742.10 Td ( \(the Core Fund\), such as its reliance on Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 730.10 Td (for its operations and investments, and our potential liability for Core Fund obligations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 706.10 Td (The lack of liquidity associated with our assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 682.10 Td (Our reliance on our ) Tj ET Q q 0 0 0 rg BT 174.97 682.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 206.79 682.10 Td (, Hines and af) Tj ET Q q 0 0 0 rg BT 262.15 682.10 Td (filiates of Hines for our day-to-day operations and our ) Tj ET Q q 0 0 0 rg BT 480.70 682.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 513.29 682.10 Td () Tj ET Q q 0 0 0 rg BT 516.07 682.10 Td (s ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 670.10 Td (attract and retain high-quality personnel who can provide service at a level acceptable to us;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 646.10 Td (Risks associated with conflicts of interests that result from our relationship with our ) Tj ET Q q 0 0 0 rg BT 432.44 646.10 Td (Advisor and Hines, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 634.10 Td (conflicts of interests certain of our of) Tj ET Q q 0 0 0 rg BT 243.10 634.10 Td (ficers and directors face relating to the positions they hold with other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 622.10 Td (entities;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 598.10 Td (Our ability to continue to qualify as a real estate investment trust \(REIT\) for federal income tax purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td (These risks are more fully discussed in, and all forward-looking statements should be read in light of, all of the factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (discussed in PartI, Item1A. Risk Factors in our ) Tj ET Q q 0 0 0 rg BT 253.31 562.10 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.64 562.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.23 562.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (Y) Tj ET Q q 0 0 0 rg BT 74.22 538.10 Td (ou are cautioned not to place undue reliance on any forward-looking statements included in this Form10-Q/A. ) Tj ET Q q 0 0 0 rg BT 518.55 538.10 Td (All ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (forward-looking statements are made as of the date of this Form10-Q/A) Tj ET Q q 0 0 0 rg BT 339.09 526.10 Td ( and the risk that actual results will dif) Tj ET Q q 0 0 0 rg BT 492.21 526.10 Td (fer materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (from the expectations expressed in this Form10-Q/A) Tj ET Q q 0 0 0 rg BT 262.46 514.10 Td ( may increase with the passage of time. In light of the significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (uncertainties inherent in the forward-looking statements included in this Form10-Q/A, the inclusion of such forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (statements should not be regarded as a representation by us or any other person that the objectives and plans set forth in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Form10-Q/A) Tj ET Q q 0 0 0 rg BT 104.17 478.10 Td ( will be achieved. ) Tj ET Q q 0 0 0 rg BT 176.65 478.10 Td (All subsequent written and oral forward-looking statements attributable to us or persons acting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. Each forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (statement speaks only as of the date of the particular statement, and we do not undertake to update any forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (statement.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td (Executive Summary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td (Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 188.34 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 194.10 394.10 Td (rust, Inc. \(Hines REIT and, together with its consolidated subsidiaries, we, us or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Company\) and its subsidiary) Tj ET Q q 0 0 0 rg BT 172.94 382.10 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 225.81 382.10 Td ( Properties, L.P) Tj ET Q q 0 0 0 rg BT 286.91 382.10 Td (. \(the Operating Partnership\) were formed in ) Tj ET Q q 0 0 0 rg BT 475.73 382.10 Td (August 2003 for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (purpose of investing in and owning interests in real estate. ) Tj ET Q q 0 0 0 rg BT 285.04 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 293.68 370.10 Td (e have invested in real estate to satisfy our primary investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (objectives, including preserving invested capital, paying regular cash distributions and achieving modest capital appreciation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (our assets over the long term. ) Tj ET Q q 0 0 0 rg BT 170.07 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 178.71 346.10 Td (e have made investments directly through entities wholly owned by the Operating Partnership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (or indirectly through other entities such as through our investment in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 389.11 334.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.55 334.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.38 334.10 Td (, we had direct and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (indirect interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.15 322.10 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.15 322.10 Td ( properties. ) Tj ET Q q 0 0 0 rg BT 186.45 322.10 Td (These properties consist of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.42 322.10 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.42 322.10 Td ( of) Tj ET Q q 0 0 0 rg BT 317.07 322.10 Td (fice properties located throughout the United States, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.12 322.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.56 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (industrial property in Dallas, ) Tj ET Q q 0 0 0 rg BT 167.29 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 172.71 310.10 Td (exas and a portfolio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.18 310.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.17 310.10 Td ( grocery-anchored shopping centers located in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.32 310.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.98 310.10 Td ( states primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (in the Southeastern United States \(the Grocery-Anchored Portfolio\). In total, we acquired interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.37 298.10 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.37 298.10 Td ( properties since our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (inception and have sold our interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.13 286.10 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.13 286.10 Td ( of those properties as of ) Tj ET Q q 0 0 0 rg BT 319.66 286.10 Td (August12, 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The following table provides summary information regarding the properties in which we owned interests as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.77 742.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.45 730.10 Td (All assets which are 100% owned by us are referred to as directly-owned properties. ) Tj ET Q q 0 0 0 rg BT 422.38 730.10 Td (All other properties are owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (indirectly through investments in the Core Fund.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 656.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 656.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 656.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 656.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 656.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 656.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 626.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 626.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 626.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 626.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 626.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 596.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 596.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 596.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 596.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 596.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 566.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 566.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 566.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 566.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 566.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 536.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 536.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 536.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 536.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 536.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 506.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 506.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 506.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 506.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 506.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 506.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 506.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 506.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 506.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 506.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 476.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 476.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 476.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 476.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 476.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 476.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 446.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 446.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 446.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 446.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 446.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 446.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 416.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 416.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 416.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 416.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 416.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 416.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 386.60 283.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 386.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 386.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 386.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 386.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 343.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 343.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 343.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 343.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 343.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 343.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 343.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 343.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 343.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 343.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 313.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 313.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 313.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 313.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 313.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 313.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 313.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 313.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 313.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 313.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 283.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 283.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 283.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 283.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 283.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 283.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 253.60 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 253.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 253.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 253.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 253.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 253.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 223.60 283.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 223.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 223.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 223.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 223.60 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 684.6 m 211.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 684.6 m 333.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 684.6 m 387.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 684.6 m 455.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 684.6 m 501.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 684.6 m 562.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 670.6 m 211.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 670.6 m 333.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 670.6 m 211.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 656.6 m 211.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 670.6 m 333.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 656.6 m 333.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 386.6 m 455.5 386.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 386.6 m 501.5 386.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 371.6 m 455.5 371.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 371.6 m 501.5 371.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 343.6 m 211.5 343.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 343.6 m 333.5 343.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 223.60000000000002 m 455.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 223.60000000000002 m 501.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 208.60000000000002 m 455.5 208.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 208.60000000000002 m 501.5 208.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 193.60000000000002 m 455.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 208.60000000000002 m 501.5 208.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 193.60000000000002 m 501.5 193.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 113.30 689.05 Td (Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.75 689.05 Td (City) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 698.05 Td (Date) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.05 689.05 Td (Acquired) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 405.95 698.05 Td (Leasable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.95 689.05 Td (Square Feet) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.30 698.05 Td (Percent) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.50 689.05 Td (Leased) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.50 698.05 Td (Effective ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.45 689.05 Td (Ownership) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 550.96 693.59 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 675.28 Td (Directly-owned Properties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.00 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.00 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 661.28 Td (Office Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.27 Td (321 North Clark) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 646.27 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 646.27 Td (04/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 646.27 Td (889,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 646.27 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 646.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 646.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 646.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.27 Td (Citymark) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 631.27 Td (Dallas, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 631.27 Td (08/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 631.27 Td (218,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 631.27 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 631.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 631.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 631.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.27 Td (4050/4055 Corporate Drive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 616.27 Td (Dallas, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 616.27 Td (05/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 616.27 Td (643,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 616.27 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 616.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 616.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 616.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td (JPMorgan Chase Tower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 601.27 Td (Dallas, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 601.27 Td (11/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 601.27 Td (1,253,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 601.27 Td (78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 601.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 601.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 601.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.27 Td (345 Inverness Drive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 586.27 Td (Denver, Colorado) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 586.27 Td (12/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 586.27 Td (175,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 586.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 586.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 586.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 586.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.27 Td (Arapahoe Business Park) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 571.27 Td (Denver, Colorado) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 571.27 Td (12/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 571.27 Td (309,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 571.27 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 571.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 571.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 571.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td (2100 Powell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 556.27 Td (Emeryville, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 556.27 Td (12/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 556.27 Td (345,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 556.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 556.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 556.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 556.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.27 Td (2555 Grand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 541.27 Td (Kansas City, Missouri) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 541.27 Td (02/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 541.27 Td (595,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 541.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 541.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 541.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 541.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.27 Td (3 Huntington Quadrangle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 526.27 Td (Melville, New York) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 526.27 Td (07/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 526.27 Td (407,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 526.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 526.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 526.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 526.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.27 Td (Airport Corporate Center ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 156.58 515.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 511.27 Td (Miami, Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 511.27 Td (01/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 511.27 Td (1,018,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 511.27 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 511.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 511.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 511.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 496.27 Td (3400 Data Drive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 496.27 Td (Rancho Cordova, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 496.27 Td (11/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 496.27 Td (149,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 496.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 496.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 496.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 496.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 481.27 Td (Daytona Buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 481.27 Td (Redmond, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 481.27 Td (12/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 481.27 Td (251,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 481.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 481.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 481.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 481.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.27 Td (Laguna Buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 466.27 Td (Redmond, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 466.27 Td (01/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 466.27 Td (460,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 466.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 466.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 466.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 466.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 451.27 Td (1515 S Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 451.27 Td (Sacramento, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 451.27 Td (11/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 451.27 Td (399,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 451.27 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 451.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 451.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 451.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.27 Td (1900 and 2000 Alameda) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 436.27 Td (San Mateo, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 436.27 Td (06/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 436.27 Td (254,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 436.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 436.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 436.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 436.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.27 Td (Seattle Design Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 421.27 Td (Seattle, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 421.27 Td (06/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 421.27 Td (390,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 421.27 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 421.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 421.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 421.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 406.27 Td (5th and Bell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 406.27 Td (Seattle, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 406.27 Td (06/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 406.27 Td (197,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 406.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 406.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 406.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 406.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 391.27 Td (Howard Hughes Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 391.27 Td (Los Angeles, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 391.27 Td (01/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 391.27 Td (1,355,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 391.27 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 391.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 391.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 391.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 376.28 Td (Total for Office Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 376.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 376.27 Td (9,317,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 376.27 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 376.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 376.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 348.28 Td (Grocery-Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 348.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 348.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 348.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 348.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 333.27 Td (Cherokee Plaza) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 333.27 Td (Atlanta, Georgia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 333.27 Td (11/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 333.27 Td (102,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 333.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 333.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 333.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 333.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 318.27 Td (Thompson Bridge Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 318.27 Td (Gainesville, Georgia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 318.27 Td (03/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 318.27 Td (92,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 318.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 318.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 318.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 318.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 303.27 Td (Champions Village) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 303.27 Td (Houston, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 303.27 Td (11/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 303.27 Td (392,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 303.27 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 303.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 303.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 303.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 288.27 Td (Sandy Plains Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 288.27 Td (Marietta, Georgia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 288.27 Td (02/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 288.27 Td (72,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 288.27 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 288.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 288.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 288.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 273.27 Td (University Palms Shopping Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 273.27 Td (Oviedo, Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 273.27 Td (11/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 273.27 Td (99,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 273.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 273.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 273.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 273.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.27 Td (Shoppes at Parkland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 258.27 Td (Parkland, Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 258.27 Td (03/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 258.27 Td (145,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 258.27 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 258.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 258.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 258.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 243.27 Td (Oak Park Village) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 243.27 Td (San Antonio, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 243.27 Td (11/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 243.27 Td (64,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 243.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 243.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 243.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 243.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 228.27 Td (Heritage Station) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 228.27 Td (Wake Forest, North Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 228.27 Td (01/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 228.27 Td (68,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 228.27 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 228.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 228.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 228.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 213.28 Td (Total for Grocery-Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 213.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 213.27 Td (1,038,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 213.27 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 213.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 213.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 198.28 Td (Total for Directly-owned Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.60 198.27 Td (10,356,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 198.27 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 198.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 695.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 695.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 695.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 695.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 695.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 695.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 695.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 695.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 695.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 665.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 665.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 665.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 665.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 665.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 665.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 665.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 665.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 665.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 665.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 635.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 635.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 635.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 635.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 635.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 635.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 635.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 635.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 635.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 605.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 605.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 605.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 605.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 605.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 605.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 605.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 605.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 605.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 605.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 575.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 575.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 575.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 575.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 575.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 575.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 575.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 575.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 575.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.50 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 545.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 545.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 545.50 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 545.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 545.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 545.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 545.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 545.50 13.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 545.50 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 725.5 m 211.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 725.5 m 333.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 725.5 m 387.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 725.5 m 446.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 725.5 m 492.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 725.5 m 562.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 710.5 m 211.5 710.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 710.5 m 333.5 710.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 695.5 m 211.5 695.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 695.5 m 333.5 695.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 545.5 m 446.5 545.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 545.5 m 492.5 545.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 530.5 m 446.5 530.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 530.5 m 492.5 530.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 530.5 m 446.5 530.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 515.5 m 446.5 515.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 530.5 m 492.5 530.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 515.5 m 492.5 515.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 113.30 729.95 Td (Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.75 729.95 Td (City) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 738.95 Td (Date) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.05 729.95 Td (Acquired) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.45 738.95 Td (Leasable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.45 729.95 Td (Square Feet) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.30 738.95 Td (Percent) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 729.95 Td (Leased) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.50 738.95 Td (Effective ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.45 729.95 Td (Ownership) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 550.96 734.49 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 715.18 Td (Indirectly-owned Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 715.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 715.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 715.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 715.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 700.18 Td (Core Fund Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 700.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 700.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 700.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 700.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 685.17 Td (One Atlantic Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 685.17 Td (Atlanta, Georgia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 685.17 Td (07/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.60 685.17 Td (1,100,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 685.17 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 685.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 685.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 685.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 670.17 Td (The Carillon Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 670.17 Td (Charlotte, North Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 670.17 Td (07/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 670.17 Td (474,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 670.17 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 670.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 670.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 670.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.17 Td (Charlotte Plaza) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 655.17 Td (Charlotte, North Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 655.17 Td (06/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 655.17 Td (630,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 655.17 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 655.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 655.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 655.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 640.17 Td (One North Wacker) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 640.17 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 640.17 Td (03/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.60 640.17 Td (1,373,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 640.17 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 640.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 640.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 640.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.17 Td (333 West Wacker) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 625.17 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 625.17 Td (04/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 625.17 Td (857,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 625.17 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 625.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 625.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 625.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.17 Td (Renaissance Square) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 610.17 Td (Phoenix, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 610.17 Td (12/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 610.17 Td (965,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 610.17 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 610.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 610.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 610.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.17 Td (Riverfront Plaza) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 595.17 Td (Richmond, Virginia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.75 595.17 Td (11/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 595.17 Td (951,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 595.17 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 595.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 595.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 595.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.17 Td (Wells Fargo Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 580.17 Td (Sacramento, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 580.17 Td (05/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 580.17 Td (507,138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 580.17 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 580.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 580.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 580.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 565.17 Td (525 B Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 565.17 Td (San Diego, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 565.17 Td (08/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 565.17 Td (449,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 565.17 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 565.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 565.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 565.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 550.17 Td (Warner Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 550.17 Td (Woodland Hills, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 550.17 Td (10/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 550.17 Td (808,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 550.17 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 550.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 550.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 550.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 535.18 Td (Total for Core Fund Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 535.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 535.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.60 535.17 Td (8,118,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 535.17 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 535.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 535.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 520.18 Td (Total for All Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 520.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.60 520.17 Td (18,474,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 520.17 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 520.17 Td (%) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 495.00 526.51 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 520.17 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 492.00 Td (This percentage shows the ef) Tj ET Q q 0 0 0 rg BT 201.89 492.00 Td (fective ownership of the Operating Partnership in the properties listed. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.70 492.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.53 492.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 480.00 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 133.87 480.00 Td ( owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.46 480.00 Td (93.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.29 480.00 Td ( interest in the Operating Partnership as its sole general partner) Tj ET Q q 0 0 0 rg BT 449.33 480.00 Td (. ) Tj ET Q q 0 0 0 rg BT 453.78 480.00 Td (Af) Tj ET Q q 0 0 0 rg BT 464.15 480.00 Td (filiates of Hines owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 468.00 Td (the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.76 468.00 Td (6.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.59 468.00 Td ( interest in the Operating Partnership. In addition, the Company owned an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.34 468.00 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.17 468.00 Td ( non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 456.00 Td (managing general partner interest in the Core Fund as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.26 456.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.09 456.00 Td (. ) Tj ET Q q 0 0 0 rg BT 374.91 456.00 Td (The Core Fund does not own 100% of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 444.00 Td (properties; its ownership interest in its properties ranges from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.55 444.00 Td (42.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.38 444.00 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.16 444.00 Td (82.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.99 444.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.00 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 420.00 Td (In July 2014, we entered into a contract to sell ) Tj ET Q q 0 0 0 rg BT 272.89 420.00 Td (Airport Corporate Center) Tj ET Q q 0 0 0 rg BT 373.42 420.00 Td (. ) Tj ET Q q 0 0 0 rg BT 380.74 420.00 Td (The contract sales price for ) Tj ET Q q 0 0 0 rg BT 491.52 420.00 Td (Airport ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 408.00 Td (Corporate Center is expected to be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.32 408.00 Td ($132.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.21 408.00 Td (, exclusive of transaction costs and closing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 396.00 Td (prorations. ) Tj ET Q q 0 0 0 rg BT 131.37 396.00 Td (W) Tj ET Q q 0 0 0 rg BT 140.00 396.00 Td (e originally acquired our interest in ) Tj ET Q q 0 0 0 rg BT 282.74 396.00 Td (Airport Corporate Center in January 2006 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.85 396.00 Td ($156.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.75 396.00 Td (. ) Tj ET Q q 0 0 0 rg BT 530.57 396.00 Td (W) Tj ET Q q 0 0 0 rg BT 539.20 396.00 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 384.00 Td (expect the closing of this sale to occur in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.79 384.00 Td (September 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.05 384.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.00 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 360.00 Td (This amount represents the percentage leased assuming the Company owns a 100% interest in each of these properties. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 348.00 Td (The percentage leasedbased on the Company) Tj ET Q q 0 0 0 rg BT 271.48 348.00 Td (s ef) Tj ET Q q 0 0 0 rg BT 285.46 348.00 Td (fective ownership interest in each property is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 348.00 Td (87%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.23 348.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 324.00 Td (In order to provide capital for the investments described above, with the exception of the Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 519.68 324.00 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.00 Td (raised approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.64 312.00 Td (2.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.75 312.00 Td ( through public of) Tj ET Q q 0 0 0 rg BT 254.50 312.00 Td (ferings of our common stock since we commenced our initial public of) Tj ET Q q 0 0 0 rg BT 537.86 312.00 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.00 Td (in June 2004.In consideration of market conditions and other factors, our board of directors determined to cease sales of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.00 Td (shares to new investors pursuant to our third public of) Tj ET Q q 0 0 0 rg BT 265.62 288.00 Td (fering as of January 1, 2010.However) Tj ET Q q 0 0 0 rg BT 418.50 288.00 Td (, we have continued to sell shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.00 Td (under our dividend reinvestment plan. Based on market conditions and other considerations, we do not currently expect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.00 Td (commence any future of) Tj ET Q q 0 0 0 rg BT 147.28 264.00 Td (ferings other than those related to shares issued under our dividend reinvestment plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 240.00 Td (Since the conclusion of our third public of) Tj ET Q q 0 0 0 rg BT 236.95 240.00 Td (fering, we have concentrated our ef) Tj ET Q q 0 0 0 rg BT 378.36 240.00 Td (forts on actively managing our assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.00 Td (exploring a variety of strategic opportunities focused on enhancing the composition of our portfolio and its total return potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.00 Td (for our stockholders. In doing this, we have elected to make strategic dispositions, as discussed above, which have provided us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.00 Td (with additional liquidity) Tj ET Q q 0 0 0 rg BT 146.01 204.00 Td (. ) Tj ET Q q 0 0 0 rg BT 153.33 204.00 Td (W) Tj ET Q q 0 0 0 rg BT 161.97 204.00 Td (e have used and intend to continue using these sale proceeds for strategic acquisitions, capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.00 Td (expenditure and leasing capital needs, to reduce our leverage in the portfolio, to make additionalspecial distributions or for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.00 Td (other purposes. For example, in January 2014, we acquired the Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 400.06 180.00 Td (, a complex of five Class ) Tj ET Q q 0 0 0 rg BT 501.43 180.00 Td (A) Tj ET Q q 0 0 0 rg BT 508.10 180.00 Td ( of) Tj ET Q q 0 0 0 rg BT 518.75 180.00 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.00 Td (buildings in Los ) Tj ET Q q 0 0 0 rg BT 116.95 168.00 Td (Angeles, for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.88 168.00 Td ($510.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.77 168.00 Td (. ) Tj ET Q q 0 0 0 rg BT 235.09 168.00 Td (The addition of this prime property located in a desirable west-coast, gateway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.00 Td (city helps bolster our portfolio) Tj ET Q q 0 0 0 rg BT 174.42 156.00 Td (s collection of high-quality) Tj ET Q q 0 0 0 rg BT 281.81 156.00 Td (, core of) Tj ET Q q 0 0 0 rg BT 314.66 156.00 Td (fice properties located on the ) Tj ET Q q 0 0 0 rg BT 433.04 156.00 Td (W) Tj ET Q q 0 0 0 rg BT 441.68 156.00 Td (est Coast. ) Tj ET Q q 0 0 0 rg BT 485.39 156.00 Td (This acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.00 Td (represents another step in repositioning our portfolio for a potential liquidity event in the future. ) Tj ET Q q 0 0 0 rg BT 438.33 144.00 Td (W) Tj ET Q q 0 0 0 rg BT 447.37 144.00 Td (ith the acquisition of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.00 Td (Howard Hughes Center and the ef) Tj ET Q q 0 0 0 rg BT 186.16 132.00 Td (fect of the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 345.09 132.00 Td (T) Tj ET Q q 0 0 0 rg BT 350.84 132.00 Td (ransaction, our portfolio is now geographically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.00 Td (located ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.37 120.00 Td (49%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.70 120.00 Td ( in the ) Tj ET Q q 0 0 0 rg BT 127.02 120.00 Td (W) Tj ET Q q 0 0 0 rg BT 135.65 120.00 Td (est, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.76 120.00 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.09 120.00 Td ( in the Midwest, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.59 120.00 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.92 120.00 Td ( in the East and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.07 120.00 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.40 120.00 Td ( in the South.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 96.00 Td (In January 2014, we dissolved our joint venture with ) Tj ET Q q 0 0 0 rg BT 281.12 96.00 Td (W) Tj ET Q q 0 0 0 rg BT 289.75 96.00 Td (eingarten. ) Tj ET Q q 0 0 0 rg BT 331.40 96.00 Td (As a result of the joint venture dissolution, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.44 96.00 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.43 96.00 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.00 Td (Grocery-Anchored Portfolio properties were distributed to us and the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.13 84.00 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.79 84.00 Td ( Grocery-Anchored Portfolio properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.00 Td (were distributed to ) Tj ET Q q 0 0 0 rg BT 127.30 72.00 Td (W) Tj ET Q q 0 0 0 rg BT 135.94 72.00 Td (eingarten and an additional $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.01 72.00 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.90 72.00 Td ( in cash was paid to us by ) Tj ET Q q 0 0 0 rg BT 400.70 72.00 Td (W) Tj ET Q q 0 0 0 rg BT 409.34 72.00 Td (eingarten \(Grocery-Anchored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.00 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 87.88 60.00 Td (T) Tj ET Q q 0 0 0 rg BT 93.63 60.00 Td (ransaction\). ) Tj ET Q q 0 0 0 rg BT 149.44 60.00 Td (As a result of this transaction, we have consolidated the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.66 60.00 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 60.00 Td ( properties since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.69 60.00 Td (January1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.28 60.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (In January 2014, the Core Fund sold 101 Second Street for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.63 742.10 Td ($297.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.53 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 468.84 742.10 Td (The Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (acquired the property in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.30 730.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.56 730.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.21 730.10 Td ($157.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 411.92 730.10 Td (The Core Fund received net proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 718.10 Td ($21) Tj ET Q q 0 0 0 rg BT 75.46 718.10 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.35 718.10 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td (In May 2014, we completed the sale of the Minneapolis Of) Tj ET Q q 0 0 0 rg BT 304.15 694.10 Td (fice/Flex Portfolio for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.30 694.10 Td ($75.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.19 694.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 682.10 Td (e acquired the portfolio in September 2007 for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.91 682.10 Td ($87.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.80 682.10 Td (. In the aggregate, we received net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.87 670.10 Td ($71.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.76 670.10 Td ( from the sale of the portfolio. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td (In May 2014, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 203.37 646.10 Td (The KPMG Building for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.37 646.10 Td ($274.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.26 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 467.58 646.10 Td (The Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (acquired the property in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.30 634.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.56 634.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.21 634.10 Td ($148.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 409.42 634.10 Td (The Core Fund received net proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.83 622.10 Td (179.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.72 622.10 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td (In June 2014, the Core Fund sold 720 Olive ) Tj ET Q q 0 0 0 rg BT 245.58 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 254.22 598.10 Td (ay for a contract sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.21 598.10 Td ($101.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.11 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 440.92 598.10 Td (The Core Fund acquired the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (property in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.66 586.10 Td (January 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.25 586.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.91 586.10 Td ($83.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.80 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 338.62 586.10 Td (The Core Fund received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.61 586.10 Td ($52.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.50 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 550.10 Td (Our portfolio was) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.60 550.10 Td (87%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.93 550.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.37 550.10 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.70 550.10 Td (leased as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.34 550.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.17 550.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.61 550.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.20 550.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 458.86 550.10 Td (.Our management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (closely monitors the portfolio) Tj ET Q q 0 0 0 rg BT 171.37 538.10 Td (s lease expirations, which for the period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.48 538.10 Td (July 1, 2014 through December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.35 538.10 Td (, and for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.92 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.92 526.10 Td ( through December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.61 526.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.61 526.10 Td (, are expected to approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.11 526.10 Td (3.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.94 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.94 526.10 Td (9.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.77 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.77 526.10 Td (6.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.60 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (10.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.27 514.10 Td (13.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.10 514.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 173.76 514.10 Td (, of leasable square feet. ) Tj ET Q q 0 0 0 rg BT 272.70 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 281.33 514.10 Td (e believe this level of expirations is manageable, and we will remain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (focused on filling tenant vacancies with high-quality tenants in each of the markets in which we operate. ) Tj ET Q q 0 0 0 rg BT 469.87 502.10 Td (Although we continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (to lease our properties to a diverse tenant base over a variety of industries,our portfoliois approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.82 490.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 490.10 Td ( leased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 478.10 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.26 478.10 Td ( companies inthe legal industry and approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.43 478.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.76 478.10 Td ( leased to over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.29 478.10 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.29 478.10 Td ( companies in the financial and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (insurance industries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td (Further) Tj ET Q q 0 0 0 rg BT 97.04 442.10 Td (, with the authorization of our board of directors, we declared distributions for January 2014 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.38 442.10 Td (August) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.27 442.10 Td ( 2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (These distributions were or will be calculated based on stockholders of record each day during this period in an amount equal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 418.10 Td ($0.00073973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.78 418.10 Td ( per share, per day and will be paid on the first day of the month following the fiscal quarter to which they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (relate in cash, or reinvested in stock for those participating in our dividend reinvestment plan. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td (Critical ) Tj ET Q q 0 0 0 rg BT 101.24 382.10 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td (Each of our critical accounting policies involves the use of estimates that require management to make assumptions that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (are subjective in nature. Management relies on its experience, collects historical and current market data, and analyzes these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (assumptions in order to arrive at what it believes to be reasonable estimates.In addition, application of these accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (policies involves the exercise of judgment regarding assumptions as to future uncertainties. ) Tj ET Q q 0 0 0 rg BT 416.85 322.10 Td (Actual results could materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 310.10 Td (fer from these estimates. ) Tj ET Q q 0 0 0 rg BT 161.17 310.10 Td (A) Tj ET Q q 0 0 0 rg BT 167.84 310.10 Td ( disclosure of our critical accounting policies is included in our ) Tj ET Q q 0 0 0 rg BT 421.94 310.10 Td (Annual Report on Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 298.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 298.10 Td ( in Management) Tj ET Q q 0 0 0 rg BT 261.58 298.10 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 330.75 298.10 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 103.13 286.10 Td (There have been no significant changes to our policies during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.94 286.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.94 286.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 262.10 Td (Financial Condition, Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 283.98 262.10 Td (ces) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 238.10 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (Our principal cash requirements are for property-level operating expenses, capital improvements and leasing costs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (strategic investments in real property) Tj ET Q q 0 0 0 rg BT 197.64 202.10 Td (, debt service, corporate-level general and administrative expenses, distributions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (redemptions. ) Tj ET Q q 0 0 0 rg BT 104.25 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 112.89 190.10 Td (e have four primary sources of capital for meeting our cash requirements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 166.10 Td (proceeds from our dividend reinvestment plan;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 154.10 Td (debt financings, including secured or unsecured facilities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 142.10 Td (proceeds from the sale of our properties, including those owned by the Core Fund; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 130.10 Td (cash flow generated by our real estate investments and operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 106.10 Td (e are focused on maintaining a strong cash position and managing our capital needs.Historically) Tj ET Q q 0 0 0 rg BT 464.77 106.10 Td (, our liquidity needs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (were primarily met through cash flow generated by our properties and distributions from unconsolidated entities.However) Tj ET Q q 0 0 0 rg BT 543.08 94.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (due to our ability to execute on several strategic asset sales, an increasing portion of our liquidity needs were met and will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (continue to be met through the sale of our investment properties. If we continue to sell significant assets and do not reinvest the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (proceeds in additional investments, it will reduce the cash flow generated by our properties and may adversely impact our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (ability to pay regular distributions to our stockholders at the current distribution rate. Below is a list of properties acquired and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (sold by us and the Core Fund during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.04 730.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.04 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.54 730.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.37 730.10 Td (:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 114.76 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 117.08 706.10 Td (Acquisitions and ) Tj ET Q q 0 0 0 rg BT 186.34 706.10 Td (Asset Sales) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 680.7669921875 m 181.1806640625 680.7669921875 l s q 0 0 0 rg BT 86.00 682.10 Td (Howar) Tj ET Q q 0 0 0 rg BT 113.41 682.10 Td (d Hughes Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.18 682.10 Td ( - In January 2014, we acquired the Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 418.76 682.10 Td (, a portfolio of five Class ) Tj ET Q q 0 0 0 rg BT 520.69 682.10 Td (A) Tj ET Q q 0 0 0 rg BT 527.36 682.10 Td ( of) Tj ET Q q 0 0 0 rg BT 538.01 682.10 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (buildings and an athletic club located in Los ) Tj ET Q q 0 0 0 rg BT 264.85 670.10 Td (Angeles, California, for a net purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.33 670.10 Td ($510.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.22 670.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 644.7669921875 m 199.3984375 644.7669921875 l s q 0 0 0 rg BT 86.00 646.10 Td (Gr) Tj ET Q q 0 0 0 rg BT 96.74 646.10 Td (ocery-Anchor) Tj ET Q q 0 0 0 rg BT 151.35 646.10 Td (ed Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.40 646.10 Td ( - In January 2014, we dissolved our joint venture with ) Tj ET Q q 0 0 0 rg BT 420.84 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 429.48 646.10 Td (eingarten. ) Tj ET Q q 0 0 0 rg BT 471.13 646.10 Td (As a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 201.89 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 207.65 634.10 Td (ransaction, eight of the twelve Grocery-Anchored Portfolio properties were distributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (to us and ) Tj ET Q q 0 0 0 rg BT 124.43 622.10 Td (W) Tj ET Q q 0 0 0 rg BT 133.07 622.10 Td (eingarten paid us $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.88 622.10 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.77 622.10 Td ( in cash.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 596.7669921875 m 222.083984375 596.7669921875 l s q 0 0 0 rg BT 86.00 598.10 Td (Minneapolis Office/Flex Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.08 598.10 Td ( - In May 2014, we completed the sale of the Minneapolis Of) Tj ET Q q 0 0 0 rg BT 466.56 598.10 Td (fice/Flex Portfolio, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (portfolio of nine of) Tj ET Q q 0 0 0 rg BT 162.19 586.10 Td (fice/flex buildings located in the southwest and midway submarkets of Minneapolis, Minnesota. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (the aggregate, we received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.69 574.10 Td ($71.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.58 574.10 Td ( from the sale of the portfolio. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td (Cor) Tj ET Q q 0 0 0 rg BT 83.19 550.10 Td (e Fund ) Tj ET Q q 0 0 0 rg BT 113.56 550.10 Td (Asset Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 524.7669921875 m 157.8310546875 524.7669921875 l s q 0 0 0 rg BT 86.00 526.10 Td (101 Second Str) Tj ET Q q 0 0 0 rg BT 146.18 526.10 Td (eet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.83 526.10 Td ( - In January 2014, the Core Fund sold 101 Second Street, an of) Tj ET Q q 0 0 0 rg BT 412.33 526.10 Td (fice building located in San ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (Francisco, California. ) Tj ET Q q 0 0 0 rg BT 175.24 514.10 Td (The Core Fund received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.23 514.10 Td ($21) Tj ET Q q 0 0 0 rg BT 352.86 514.10 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.75 514.10 Td ( from this sale. ) Tj ET Q q 0 0 0 rg BT 458.13 514.10 Td (At the date of disposition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (we owned a 24% ef) Tj ET Q q 0 0 0 rg BT 164.68 502.10 Td (fective interest in 101 Second Street.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 476.7669921875 m 168.7734375 476.7669921875 l s q 0 0 0 rg BT 86.00 478.10 Td (The KPMG Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.77 478.10 Td ( - In May 2014, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 312.47 478.10 Td (The KPMG Building, an of) Tj ET Q q 0 0 0 rg BT 422.01 478.10 Td (fice building located in San ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (Francisco, California. ) Tj ET Q q 0 0 0 rg BT 175.24 466.10 Td (The Core Fund received net proceeds of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.23 466.10 Td (179.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.12 466.10 Td ( from this sale. ) Tj ET Q q 0 0 0 rg BT 458.50 466.10 Td (At the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (disposition, we owned a 24% ef) Tj ET Q q 0 0 0 rg BT 213.57 454.10 Td (fective interest in ) Tj ET Q q 0 0 0 rg BT 285.31 454.10 Td (The KPMG Building. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 430.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 428.7669921875 m 144.505859375 428.7669921875 l s q 0 0 0 rg BT 86.00 430.10 Td (720 Olive W) Tj ET Q q 0 0 0 rg BT 135.07 430.10 Td (ay) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.51 430.10 Td ( - In June 2014, the Core Fund sold 720 Olive ) Tj ET Q q 0 0 0 rg BT 330.42 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 339.06 430.10 Td (ay) Tj ET Q q 0 0 0 rg BT 347.85 430.10 Td (, an of) Tj ET Q q 0 0 0 rg BT 372.93 430.10 Td (fice building located in Seattle, ) Tj ET Q q 0 0 0 rg BT 499.94 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 508.57 430.10 Td (ashington. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (The Core Fund received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.99 418.10 Td ($52.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.88 418.10 Td ( from this sale. ) Tj ET Q q 0 0 0 rg BT 364.27 418.10 Td (At the date of disposition, we owned a 19% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (ef) Tj ET Q q 0 0 0 rg BT 93.59 406.10 Td (fective interest in 720 Olive ) Tj ET Q q 0 0 0 rg BT 207.54 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.18 406.10 Td (ay) Tj ET Q q 0 0 0 rg BT 224.96 406.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td (Mortgage Financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td (Our portfolio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.60 358.10 Td (46%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.93 358.10 Td ( leveraged as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.45 358.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.28 358.10 Td (, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.56 358.10 Td (66%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.89 358.10 Td ( of our debt in the form of fixed-rate mortgage loans \(some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (of which are ef) Tj ET Q q 0 0 0 rg BT 110.06 346.10 Td (fectively fixed through the use of interest rate swaps\). By comparison, our portfolio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.97 346.10 Td (42%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 346.10 Td ( leveraged as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 334.10 Td (, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.86 334.10 Td (86%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.19 334.10 Td ( of our debt in the form of fixed-rate mortgage loans. ) Tj ET Q q 0 0 0 rg BT 386.39 334.10 Td (This leverage percentage is calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (using the estimated market value of our real estate investments \(including our pro-rata share of real estate assets and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (debt owned through our investments in other entities such as the Core Fund\), cash and cash equivalents and restricted cash on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (hand as of that date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.10 Td (See Cash Flows from Financing ) Tj ET Q q 0 0 0 rg BT 215.21 274.10 Td (Activities Debt Financings for additional information regarding our financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (activity during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.82 262.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.81 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.31 262.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.14 262.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 238.10 Td (Cash Flows from Operating ) Tj ET Q q 0 0 0 rg BT 185.43 238.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 214.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.25 214.10 Td ( operating activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.67 214.10 Td ($98.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.56 214.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.94 214.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.93 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.43 214.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.26 214.10 Td ( compared to net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.61 202.10 Td ( operating activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.80 202.10 Td ($28.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.69 202.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.07 202.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.06 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.56 202.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.39 202.10 Td (.) Tj ET Q q 0 0 0 rg BT 389.21 202.10 Td (This increase is primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (distributions received from the Core Fund resulting from its recent property sales as well as the acquisitions of Howard Hughes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Center and the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 226.70 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 232.46 178.10 Td (ransaction during 2014.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 154.10 Td (Cash Flows from Investing ) Tj ET Q q 0 0 0 rg BT 182.10 154.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 130.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 130.10 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.82 130.10 Td ( investing activitieswas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.13 130.10 Td ($400.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.02 130.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.40 130.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.39 130.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.89 130.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.72 130.10 Td ( compared to net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.05 118.10 Td ( investing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.14 118.10 Td ($425.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.03 118.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.41 118.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.40 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.90 118.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.73 118.10 Td (. ) Tj ET Q q 0 0 0 rg BT 415.05 118.10 Td (The factors that contributed to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (change between the two periods are summarized below) Tj ET Q q 0 0 0 rg BT 270.65 106.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 80.76699218750002 m 88 80.76699218750002 l s q 0 0 0 rg BT 68.00 82.10 Td (2014) Tj ET Q BT /F3 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 70.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 70.10 Td (e had cash outflows related to our acquisition of the Howard Hughes Center in January 2014 of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 70.10 Td (474.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.04 70.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 46.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 46.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 46.10 Td (e received proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.81 46.10 Td ($64.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.70 46.10 Td ( from sale of the Minneapolis Of) Tj ET Q q 0 0 0 rg BT 371.60 46.10 Td (fice/Flex Portfolio in May 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 730.10 Td (e received distributions from the Core Fund totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 730.10 Td ($85.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.04 730.10 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.81 730.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.70 730.10 Td ( was included in cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (from investing activities, as they exceeded our equity in earnings of the joint venture.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 692.7669921875 m 88 692.7669921875 l s q 0 0 0 rg BT 68.00 694.10 Td (2013) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 682.10 Td (April 2013, we contributed $10.2 million to our joint venture with ) Tj ET Q q 0 0 0 rg BT 363.01 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 371.64 682.10 Td (eingarten in order for the joint venture to retire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (a loan at one of its properties without a prepayment penalty) Tj ET Q q 0 0 0 rg BT 323.06 670.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (In March 2013, we received proceeds of $393.4 million from the sale of ) Tj ET Q q 0 0 0 rg BT 376.56 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 385.60 646.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 415.14 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 420.55 646.10 Td (ower before retiring a related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td ($165.0 million mortgage loan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (In January 2013, we received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.54 610.10 Td ($43.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.43 610.10 Td ( from the sale of our 50% interest in Distribution Park Rio. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 586.10 Td (e had cash outflows related to investments in property of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.02 586.10 Td ($4.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.91 586.10 Td (, primarily as a result of capital expenditures at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (our properties.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 71.00 550.10 Td (Cash Flows from Financing ) Tj ET Q q 0 0 0 rg BT 190.11 550.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 526.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.25 526.10 Td ( financing activitiesfor the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.49 526.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.49 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.99 526.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.82 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.32 526.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.07 526.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.07 526.10 Td ($649.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.96 526.10 Td ( as compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (with prior year) Tj ET Q q 0 0 0 rg BT 108.87 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 113.69 514.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.97 514.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.72 514.10 Td ( is primarily due to the following, each of which is discussed further below:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (Distributions paid to stockholders were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 490.10 Td ($204.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.59 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.09 490.10 Td (less) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.09 490.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.87 490.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.87 490.10 Td ( due to a special distribution paid in ) Tj ET Q q 0 0 0 rg BT 499.84 490.10 Td (April 2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (Net proceeds from debt were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.56 466.10 Td ($461.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.45 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.95 466.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 466.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.28 466.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.28 466.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td (Redemptions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.20 442.10 Td ($17.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.09 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.59 442.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.14 442.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.92 442.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.92 442.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.00 418.10 Td (Distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td (In order to meet the requirements for being treated as a REIT) Tj ET Q q 0 0 0 rg BT 312.44 394.10 Td ( under the Internal Revenue Code of 1986, as amended, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (to pay regular cash distributions to our stockholders, which is one of our investment objectives, we have declared and expect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (continue to declare distributions to stockholders \(as authorized by our board of directors\) as of daily record dates and aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (and pay such distributions quarterly) Tj ET Q q 0 0 0 rg BT 192.66 358.10 Td (. ) Tj ET Q q 0 0 0 rg BT 197.48 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 206.11 358.10 Td (e intend to continue this distribution policy for so long as our board of directors decides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (this policy is in our best interests.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 77.04 322.10 Td (ith respect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.91 322.10 Td ($0.00138082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.41 322.10 Td ( per share, per day distributions declared for the period ended March 31, 2013, presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (below) Tj ET Q q 0 0 0 rg BT 73.79 310.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.79 310.10 Td ($0.00041425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.29 310.10 Td ( of the per share, per day distributions were designated by us as special distributions, which represent a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (return of a portion of the stockholders) Tj ET Q q 0 0 0 rg BT 204.21 298.10 Td ( invested capital and, as such, reduced their remaining investment in us. ) Tj ET Q q 0 0 0 rg BT 493.67 298.10 Td (The special ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (distributions were funded with a portion of the proceeds from sales of investment property) Tj ET Q q 0 0 0 rg BT 411.21 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 416.03 286.10 Td (The above designation of a portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (of the distributions as special distributions does not impact the tax treatment of the distributions to our stockholders. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 250.10 Td (On March 25, 2013, we declared a distribution of $198.0 million, resulting in a distribution to stockholders of $0.80 per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (share that was paid during the three months ended June 30, 2013 to all stockholders of record as of ) Tj ET Q q 0 0 0 rg BT 447.12 238.10 Td (April 2, 2013. ) Tj ET Q q 0 0 0 rg BT 505.55 238.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (distribution was designated by us as a special distribution, which was a return of a portion of the stockholders) Tj ET Q q 0 0 0 rg BT 491.11 226.10 Td ( invested capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (and, as such, reduced their remaining investment in us. ) Tj ET Q q 0 0 0 rg BT 271.98 214.10 Td (The special distribution represented a portion of the proceeds from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (sale of ) Tj ET Q q 0 0 0 rg BT 78.70 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 87.73 202.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 117.28 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 122.69 202.10 Td (ower and other strategic asset sales. ) Tj ET Q q 0 0 0 rg BT 267.73 202.10 Td (The special distribution was not subject to reinvestment pursuant to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (dividend reinvestment plan and was paid in cash. In the aggregate, we have declared special distributions totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.75 190.10 Td ($1.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.25 190.10 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.10 Td (Further) Tj ET Q q 0 0 0 rg BT 97.04 154.10 Td (, with the authorization of our board of directors, we declared distributions for the period from ) Tj ET Q q 0 0 0 rg BT 476.37 154.10 Td (April 2013 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (August) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 142.10 Td ( 2014. ) Tj ET Q q 0 0 0 rg BT 106.21 142.10 Td (These distributions were or will be calculated based on stockholders of record each day during this period in an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (amount equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.93 130.10 Td ($0.00073973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.43 130.10 Td ( per share, per day and will be paid on the first day of the month following the fiscal quarter to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (which they relate in cash, or reinvested in stock for those participating in our dividend reinvestment plan. ) Tj ET Q q 0 0 0 rg BT 473.31 118.10 Td (This rate per share, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (per day) Tj ET Q q 0 0 0 rg BT 79.06 106.10 Td (, reflects a reduction from the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.84 106.10 Td (0.00138082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.34 106.10 Td ( per share, per day rate that was declared previously) Tj ET Q q 0 0 0 rg BT 459.38 106.10 Td (, as described above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 742.10 Td (The table below outlines our total distributions declared to stockholders andnoncontrolling interests for each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (quarters during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.32 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.32 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.75 730.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.75 730.10 Td (, including the breakout between the distributions paid in cash and those reinvested pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (our dividend reinvestment plan \(all amounts are in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 632.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 632.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 632.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 632.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 632.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 632.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 602.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 602.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 602.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 602.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 602.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 572.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 572.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 572.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 572.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 572.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 572.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 542.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 542.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 542.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 542.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 542.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 542.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 512.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 512.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 512.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 512.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 512.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 671.6 m 328.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 671.6 m 332.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 671.6 m 395.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 671.6 m 399.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 671.6 m 462.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 671.6 m 562.5 671.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 647.6 m 261.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 647.6 m 328.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 647.6 m 395.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 647.6 m 462.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 647.6 m 562.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 647.6 m 261.5 647.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 632.6 m 261.5 632.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 602.6 m 328.5 602.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 602.6 m 395.5 602.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 602.6 m 462.5 602.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 588.6 m 328.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 586.6 m 328.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 588.6 m 395.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 586.6 m 395.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 588.6 m 462.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 586.6 m 462.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 557.6 m 261.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 557.6 m 261.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 497.6 m 328.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 497.6 m 395.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 497.6 m 462.5 497.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 483.6 m 328.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 481.6 m 328.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 483.6 m 395.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 481.6 m 395.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 483.6 m 462.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 481.6 m 462.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 483.6 m 562.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 481.6 m 562.5 481.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 676.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.70 676.28 Td (Stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 676.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.35 686.28 Td (Noncontrolling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.95 676.28 Td (Interests) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 652.28 Td (Distributions for the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.65 662.28 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.40 652.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.40 662.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 652.28 Td (Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.55 662.28 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.40 652.28 Td (Declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 652.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 652.28 Td (Total Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 637.28 Td (2014 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 641.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.27 Td (June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 622.27 Td (9,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 622.27 Td (5,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 622.27 Td (15,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 622.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 607.27 Td (March 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 607.27 Td (9,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 607.27 Td (5,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 607.27 Td (15,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 607.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 592.27 Td (19,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 592.27 Td (11,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 592.27 Td (30,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 592.27 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 562.28 Td (2013 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 566.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 547.27 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 547.27 Td (9,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 547.27 Td (5,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 547.27 Td (15,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 547.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 532.27 Td (September 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 532.27 Td (9,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 532.27 Td (5,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 532.27 Td (15,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 532.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.27 Td (June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 517.27 Td (9,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 517.27 Td (5,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 517.27 Td (15,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 517.27 Td (960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.27 Td (March 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 502.27 Td (214,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 502.27 Td (11,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 502.27 Td (226,068) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 465.00 507.43 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 502.27 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 487.27 Td (244,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 487.27 Td (28,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 487.27 Td (273,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 487.27 Td (1,248) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 459.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 459.10 Td (Except as noted below) Tj ET Q q 0 0 0 rg BT 175.60 459.10 Td (, excluded from this table are distributions declared with respect to the Participation Interest \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 447.10 Td (discussed further in Note 10 Related Party ) Tj ET Q q 0 0 0 rg BT 270.22 447.10 Td (T) Tj ET Q q 0 0 0 rg BT 275.98 447.10 Td (ransactions\). ) Tj ET Q q 0 0 0 rg BT 331.62 447.10 Td (The amount of distributions declared with respect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 435.10 Td (Participation Interest for the quarters ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.04 435.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.88 435.10 Td ( and March 31, 2014 were $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.34 435.10 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.23 435.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.67 435.10 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.56 435.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 423.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 133.66 423.10 Td (. ) Tj ET Q q 0 0 0 rg BT 138.48 423.10 Td (The distributions declared with respect to the Participation Interest for the quarters ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 411.10 Td (2013, September 30, 2013, June 30, 2013 and March 31, 2013 were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.56 411.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 411.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.45 411.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.34 411.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.34 411.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.23 411.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.67 411.10 Td ($1.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 399.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 399.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 167.55 399.10 Td (. Included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 399.10 Td ($226.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.92 399.10 Td ( amount declared for the three months ended March 31, 2013 in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 387.10 Td (the above table is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.91 387.10 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.81 387.10 Td ( special distribution declared in March 2013 to the Participation Interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 363.10 Td (As stated above, a portion of the total distributions declared were designated by us as special distributions and funded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 351.10 Td (using proceeds from sales of investment properties, which represented a return of a portion of the stockholders, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 339.10 Td (noncontrolling interest holders) Tj ET Q q 0 0 0 rg BT 211.34 339.10 Td ( invested capital. For the year ended December 31, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.09 339.10 Td ($206.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.99 339.10 Td ( of the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 327.10 Td (distributions declared to our stockholders and holders of non-controlling interests were paid using such sales proceeds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 303.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.11 303.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.10 303.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.60 303.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.43 303.10 Td (, we funded our cash distributions with cash flows from operating activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.33 291.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.66 291.10 Td (\). For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.10 291.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.09 291.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 291.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.42 291.10 Td (, we funded our distributions with distributions received from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.10 Td (unconsolidated investments \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.65 279.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.98 279.10 Td (\) and proceeds from the sales of our real estate investments \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.39 279.10 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.72 279.10 Td (\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 255.10 Td (Redemptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 231.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 231.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.54 231.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.04 231.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.87 231.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.31 231.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.31 231.10 Td (, we funded redemptions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.50 231.10 Td ($23.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.39 231.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.83 231.10 Td ($5.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.72 231.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 219.10 Td (, pursuant to the terms of our share redemption program. On March 25, 2013, our board of directors amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (restated our share redemption program to reinstate the program, ef) Tj ET Q q 0 0 0 rg BT 315.27 207.10 Td (fective for share redemption requests received on or after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (April 1, 2013, subject to the conditions and limitations described in the amended and restated share redemption program. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (Generally) Tj ET Q q 0 0 0 rg BT 88.77 183.10 Td (, funds available for redemption are limited to the amount of proceeds received from our dividend reinvestment plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (in the prior quarter) Tj ET Q q 0 0 0 rg BT 124.70 171.10 Td (. However) Tj ET Q q 0 0 0 rg BT 168.45 171.10 Td (, our board of directors has the discretion to redeem shares in excess of this amount if it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.10 Td (determines there are suf) Tj ET Q q 0 0 0 rg BT 145.61 159.10 Td (ficient available funds and it is appropriate to do so as long as the total amount redeemed does not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.10 Td (exceed the amount required to redeem 10% of our shares outstanding as of the same date in the prior calendar year) Tj ET Q q 0 0 0 rg BT 508.16 147.10 Td (. Our board ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (of directors determined to waive this limitation on the share redemption plan and fully honor all eligible requests received for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 123.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.71 123.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.21 123.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.04 123.10 Td (, which were in excess of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.33 123.10 Td (1) Tj ET Q q 0 0 0 rg BT 320.96 123.10 Td (1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.85 123.10 Td ( received from our dividend reinvestment plan in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.10 Td (the prior quarters. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Debt Financings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 718.10 Td (e use debt financing from time to time for investments in real property) Tj ET Q q 0 0 0 rg BT 357.58 718.10 Td (, property improvements, tenant improvements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (leasing commissions and other working capital needs. Most of our debt is in the form of secured mortgage loans, which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (entered into at the time each real estate asset was acquired.) Tj ET Q q 0 0 0 rg BT 289.61 694.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.06 694.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.89 694.10 Td (, our portfolio was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.52 694.10 Td (46%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.85 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (leveraged compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.56 682.10 Td (42%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.89 682.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.05 682.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.64 682.10 Td (.) Tj ET Q q 0 0 0 rg BT 271.96 682.10 Td (This leverage percentage is calculated using the estimated aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (value of our real estate investments \(including our pro-rata share of real estate assets through our investments in other entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (such as the Core Fund\), cash and cash equivalents and restricted cash on hand as of that date.) Tj ET Q q 0 0 0 rg BT 426.83 658.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 476.73 658.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.39 658.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.22 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 646.10 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.52 646.10 Td (, our debt financing had a weighted average interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.20 646.10 Td (4.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.03 646.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.47 646.10 Td (5.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 646.10 Td (, respectively \(including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 634.10 Td (fect of interest rate swaps\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td (The following list summarizes our debt financings for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 610.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.50 610.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.33 610.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.77 610.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.77 610.10 Td (:) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 584.7669921875 m 88 584.7669921875 l s q 0 0 0 rg BT 68.00 586.10 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.00 586.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 568.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 568.10 Td (e received proceeds of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.81 568.10 Td (425.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 568.10 Td ( related to our acquisition credit agreement \(the JPMor) Tj ET Q q 0 0 0 rg BT 468.77 568.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 485.16 568.10 Td (Acquisition Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 556.10 Td (Agreement\) with JPMor) Tj ET Q q 0 0 0 rg BT 187.46 556.10 Td (gan Chase Bank, N.A. \(Chase\) upon acquisition of the Howard Hughes Center and we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 544.10 Td (made a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.86 544.10 Td ($45.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.75 544.10 Td ( related to this agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 526.10 Td (e received proceeds of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.81 526.10 Td (170.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 526.10 Td ( under the Revolving Loan Commitment and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.61 526.10 Td (200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 526.10 Td ( under the ) Tj ET Q q 0 0 0 rg BT 528.81 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 534.22 526.10 Td (erm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (Loan Commitment to repay $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.31 514.10 Td (370.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.20 514.10 Td ( in loans outstanding under the JPMor) Tj ET Q q 0 0 0 rg BT 410.23 514.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 426.62 514.10 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 502.73 514.10 Td (Agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 502.10 Td (e made a payment of $64.0 million in May 2014 under the Revolving Loan Commitment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 484.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 484.10 Td (e also made an additional payment of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.53 484.10 Td (10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.42 484.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 312.65 484.10 Td (April 2014 on the JPMor) Tj ET Q q 0 0 0 rg BT 412.47 484.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 428.86 484.10 Td (Acquisition Credit ) Tj ET Q q 0 0 0 rg BT 504.96 484.10 Td (Agreement so ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 472.10 Td (that the entire $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.48 472.10 Td (380.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.37 472.10 Td ( in loans outstanding under the agreement as of March 31, 2014 was repaid.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 454.10 Td (e made payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.39 454.10 Td (3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.28 454.10 Td ( for financing costs related to our loans.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 428.7669921875 m 88 428.7669921875 l s q 0 0 0 rg BT 68.00 430.10 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.00 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 412.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 412.10 Td (e made payments of $570.5 million related to our loans secured by One ) Tj ET Q q 0 0 0 rg BT 382.71 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 391.75 412.10 Td (ilshire, ) Tj ET Q q 0 0 0 rg BT 421.57 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 430.60 412.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 460.15 412.10 Td (T) Tj ET Q q 0 0 0 rg BT 465.56 412.10 Td (ower) Tj ET Q q 0 0 0 rg BT 485.15 412.10 Td (, JPMor) Tj ET Q q 0 0 0 rg BT 516.64 412.10 Td (gan Chase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 400.10 Td (ower) Tj ET Q q 0 0 0 rg BT 111.00 400.10 Td (, Minneapolis Of) Tj ET Q q 0 0 0 rg BT 178.87 400.10 Td (fice/Flex Portfolio and 2555 Grand. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 382.10 Td (e received proceeds of $360.0 million related to the refinancing of the One ) Tj ET Q q 0 0 0 rg BT 395.45 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.49 382.10 Td (ilshire and JPMor) Tj ET Q q 0 0 0 rg BT 475.42 382.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 519.12 382.10 Td (T) Tj ET Q q 0 0 0 rg BT 524.53 382.10 Td (ower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (secured mortgages and the $86.0 million bridge loan from Chase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 352.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 352.10 Td (e made payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.39 352.10 Td (32.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.28 352.10 Td ( related to borrowings under our revolving credit facility with KeyBank. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 340.10 Td (revolving credit facility with KeyBank expired in February 2013 and we elected not to renew or replace the facility) Tj ET Q q 0 0 0 rg BT 546.29 340.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 322.10 Td (e made payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.39 322.10 Td (3.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.28 322.10 Td ( for financing costs related to our loans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 742.25 Td (Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 100.43 718.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 128.67 718.25 Td ( OUR DIRECTL) Tj ET Q q 0 0 0 rg BT 200.54 718.25 Td (Y) Tj ET Q q 0 0 0 rg BT 206.85 718.25 Td (-OWNED PROPER) Tj ET Q q 0 0 0 rg BT 292.33 718.25 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 694.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 694.25 Td (, we owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.59 694.25 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.59 694.25 Td ( properties directly that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.04 694.25 Td (87%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.38 694.25 Td ( leased compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.56 694.25 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.56 694.25 Td ( properties that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.97 694.25 Td (84%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (leased as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.15 682.25 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.98 682.25 Td (. Our same-store properties were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.26 682.25 Td (87%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.59 682.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.03 682.25 Td (83%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.36 682.25 Td ( leased as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 682.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.83 682.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.27 682.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.27 682.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 543.93 682.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (The table below includes revenues and expenses of our directly-owned properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.37 670.25 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.47 670.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.29 670.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 658.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 658.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 658.25 Td (. Disposed properties includes the results of operations of properties that were sold, but whose results were not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (classified as discontinued operations. See Discontinued Operations below for additional information regarding our property ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (dispositions \(all amounts in thousands, except for percentages\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 581.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 581.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 581.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 581.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 581.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 551.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 551.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 551.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 551.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.75 215.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 521.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 521.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 521.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 521.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 521.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 521.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 521.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 492.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 492.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 492.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 492.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 492.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 462.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 462.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 462.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 462.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 462.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 433.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 433.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 433.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 433.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 433.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 433.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 433.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 433.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 403.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 403.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 403.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 403.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 403.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 403.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 403.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 403.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.75 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 342.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 342.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 342.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 342.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 312.75 215.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 312.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 312.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 312.75 69.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 312.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 312.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 312.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 312.75 64.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 609.75 m 335.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 609.75 m 339.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 609.75 m 408.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 609.75 m 476.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 609.75 m 480.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 609.75 m 544.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 595.75 m 335.5 595.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 595.75 m 408.5 595.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 609.75 m 476.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 595.75 m 476.5 595.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 609.75 m 480.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 609.75 m 544.5 609.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 595.75 m 544.5 595.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 536.75 m 476.5 536.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 536.75 m 544.5 536.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 536.75 m 335.5 536.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 536.75 m 408.5 536.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 462.75 m 476.5 462.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 462.75 m 544.5 462.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 462.75 m 335.5 462.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 462.75 m 408.5 462.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 388.75 m 476.5 388.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 388.75 m 544.5 388.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 388.75 m 335.5 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 374.75 m 335.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 372.75 m 335.5 372.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 388.75 m 408.5 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 374.75 m 408.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 372.75 m 408.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 374.75 m 476.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 372.75 m 476.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 374.75 m 544.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 372.75 m 544.5 372.75 l s BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 614.31 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.95 614.43 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.60 614.43 Td (Change) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 600.31 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.00 600.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 600.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.50 600.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.00 600.43 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 586.32 Td (Property revenues:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 571.31 Td ( Same-store properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 571.42 Td (41,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 571.42 Td (40,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 571.42 Td (1,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.80 571.42 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 571.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 556.31 Td ( Recent acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 556.42 Td (16,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 556.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 556.42 Td (16,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 556.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 556.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 541.31 Td ( Disposed properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 541.42 Td (729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 541.42 Td (2,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 541.47 Td (\(1,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 541.42 Td (\(64.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 541.42 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 526.32 Td (Total property revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 526.42 Td (58,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 526.42 Td (42,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 526.42 Td (16,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 526.42 Td (39.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 526.42 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 512.32 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.85 512.32 Td (operty expenses: ) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 132.50 516.62 Td (\(1\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 497.31 Td ( Same-store properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 497.42 Td (20,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 497.42 Td (20,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 497.42 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.80 497.42 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 497.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 482.31 Td ( Recent acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 482.42 Td (6,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 482.42 Td (6,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 482.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 467.31 Td ( Disposed properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 467.42 Td (365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 467.42 Td (1,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 467.47 Td (\(804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 467.42 Td (\(68.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 467.42 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 452.32 Td (Total property expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 452.42 Td (26,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 452.42 Td (21,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 452.42 Td (5,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 452.42 Td (26.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 452.42 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 438.32 Td (Property revenues in excess of expenses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 423.31 Td ( Same-store properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 423.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 423.42 Td (21,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 423.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 423.42 Td (20,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 423.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 423.42 Td (1,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.80 423.42 Td (5.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 423.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 408.31 Td ( Recent acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 408.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 408.42 Td (10,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 408.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 408.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 408.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 408.42 Td (10,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 408.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 408.42 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 393.31 Td ( Disposed properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 393.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 393.42 Td (364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 393.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 393.42 Td (903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 393.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 393.47 Td (\(539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 393.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 393.42 Td (\(59.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 393.42 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 378.32 Td (Total property revenues in excess of expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 378.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 378.42 Td (31,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 378.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 378.42 Td (20,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 378.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 378.42 Td (10,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 378.42 Td (52.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 378.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 347.43 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 347.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 332.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 332.42 Td (24,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 332.42 Td (12,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 332.42 Td (12,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 332.42 Td (98.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 332.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 317.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.00 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 317.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 317.47 Td (\(1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 317.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 317.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 302.42 Td (Gain \(loss\) on 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415.00 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 277.42 Td (853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.80 277.42 Td (7.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 277.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 706.50 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 706.50 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 706.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 706.50 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 706.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 706.50 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 706.50 4.00 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w 0 i [] 0 d 0 J 0 j 3 M 274.5 734.5 m 346.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 734.5 m 350.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 734.5 m 422.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 734.5 m 492.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 734.5 m 496.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 734.5 m 562.5 734.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 720.5 m 346.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 720.5 m 422.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 720.5 m 492.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 720.5 m 562.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 664.5 m 562.5 664.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 664.5 m 346.5 664.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 664.5 m 422.5 664.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 664.5 m 492.5 664.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 594.5 m 562.5 594.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 594.5 m 346.5 594.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 594.5 m 422.5 594.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 594.5 m 492.5 594.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 524.5 m 562.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 524.5 m 346.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 511.5 m 346.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 509.5 m 346.5 509.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 524.5 m 422.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 511.5 m 422.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 509.5 m 422.5 509.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 524.5 m 492.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 511.5 m 492.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 509.5 m 492.5 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 511.5 m 562.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 509.5 m 562.5 509.5 l s BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 739.06 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 292.40 739.07 Td (Six Months Ended June 30,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.40 739.07 Td (Change) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 725.06 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 300.50 725.07 Td (2014) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 376.50 725.07 Td (2013) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 456.60 725.07 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.25 725.07 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 711.07 Td (Property revenues:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 697.06 Td ( Same-store properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 697.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 697.06 Td (84,418) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 697.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 697.06 Td (80,486) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 697.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 467.25 697.06 Td (3,932) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 538.40 697.06 Td (4.9) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 697.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 683.06 Td ( Recent acquisitions) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 683.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 683.06 Td (31,691) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 683.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 409.15 683.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 683.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 683.06 Td (31,691) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.80 683.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 683.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 669.06 Td ( Disposed properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 669.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 321.25 669.06 Td (2,784) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 669.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 397.25 669.06 Td (4,084) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 669.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.10 669.11 Td (\(1,300) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 488.65 669.06 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 530.50 669.06 Td (\(31.8) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 550.90 669.06 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 655.07 Td (Total property revenues) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 655.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 311.75 655.06 Td (118,893) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 655.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 655.06 Td (84,570) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 655.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 655.06 Td (34,323) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.65 655.06 Td (40.6) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 655.06 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 641.07 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.85 641.07 Td (operty expenses: ) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 132.50 645.37 Td (\(1\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 627.06 Td ( Same-store properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 627.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 627.06 Td (40,896) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 627.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 627.06 Td (39,741) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 627.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 467.25 627.06 Td (1,155) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 538.40 627.06 Td (2.9) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 627.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 613.06 Td ( Recent acquisitions) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 613.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 613.06 Td (11,636) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 613.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 409.15 613.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 613.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 613.06 Td (11,636) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.80 613.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 613.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 599.06 Td ( Disposed properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 599.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 321.25 599.06 Td (1,145) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 599.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 397.25 599.06 Td (2,337) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 599.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.10 599.11 Td (\(1,192) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 488.65 599.06 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 530.50 599.06 Td (\(51.0) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 550.90 599.06 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 585.07 Td (Total property expenses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 585.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 585.06 Td (53,677) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 585.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 585.06 Td (42,078) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 585.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 585.06 Td (11,599) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.65 585.06 Td (27.6) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 585.06 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 571.07 Td (Property revenues in excess of expenses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 557.06 Td ( Same-store properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 557.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 557.06 Td (43,522) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 557.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 557.06 Td (40,745) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 557.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 467.25 557.06 Td (2,777) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 538.40 557.06 Td (6.8) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 557.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 543.06 Td ( Recent acquisitions) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 543.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 543.06 Td (20,055) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 543.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 409.15 543.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 543.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 543.06 Td (20,055) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.80 543.06 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 543.06 Td (%) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 529.06 Td ( Disposed properties) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 529.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 321.25 529.06 Td (1,639) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 529.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 397.25 529.06 Td (1,747) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 529.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 471.20 529.06 Td (\(108) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 488.65 529.06 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 535.25 529.06 Td (\(6.2) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 550.90 529.06 Td (\)%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 65.00 515.07 Td (Total property revenues in excess of expenses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 277.00 515.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 316.50 515.06 Td (65,216) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 353.00 515.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 392.50 515.06 Td (42,492) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 429.00 515.06 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 462.50 515.06 Td (22,724) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.65 515.06 Td (53.5) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.05 515.06 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 485.18 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 485.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 485.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 470.17 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 470.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 470.17 Td (49,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 470.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 470.17 Td (25,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 470.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 470.17 Td (23,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 470.17 Td (93.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 470.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 455.17 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 455.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 455.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 455.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 455.17 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 455.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 455.22 Td (\(1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 455.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 455.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 455.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 440.17 Td (Gain \(loss\) on sale or dissolution of unconsolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 430.17 Td (joint venture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 430.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 430.17 Td (13,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 430.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 430.17 Td (16,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 430.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 430.22 Td (\(2,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 430.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 430.17 Td (\(16.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 430.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 415.17 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 415.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 415.17 Td (24,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 415.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 415.17 Td (25,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 415.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 415.22 Td (\(831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 415.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.45 415.17 Td (\(3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 415.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 387.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 387.00 Td (Property expenses include property operating expenses, real property taxes and property management fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 363.00 Td (The increase in property revenues in excess of expenses for the same-store properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.35 363.00 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.45 363.00 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 351.00 Td ( is primarily due to an early lease termination fee received at JPMor) Tj ET Q q 0 0 0 rg BT 377.22 351.00 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 420.91 351.00 Td (T) Tj ET Q q 0 0 0 rg BT 426.32 351.00 Td (ower) Tj ET Q q 0 0 0 rg BT 445.76 351.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 327.00 Td (The increase in property revenues in excess of expenses for the recent acquisitions for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.25 327.00 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.34 327.00 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 315.00 Td ( is primarily due to our acquisition of Howard Hughes Center and the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 501.94 315.00 Td (T) Tj ET Q q 0 0 0 rg BT 507.70 315.00 Td (ransaction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.00 Td (January 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 279.00 Td (The decrease in property revenues in excess of expenses for the disposed properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.70 279.00 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.79 279.00 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 267.00 Td ( is primarily due to the sale of Minneapolis Of) Tj ET Q q 0 0 0 rg BT 290.89 267.00 Td (fice/ Flex Portfolio.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 243.00 Td (Depreciation and amortization increased during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.70 243.00 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.79 243.00 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.61 243.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.44 243.00 Td (, as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.00 Td (periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.22 231.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.22 231.00 Td (, primarily due to our acquisition of Howard Hughes Center and the Grocery-Anchored Portfolio ) Tj ET Q q 0 0 0 rg BT 501.66 231.00 Td (T) Tj ET Q q 0 0 0 rg BT 507.41 231.00 Td (ransaction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.00 Td (January 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 195.00 Td (During the second quarter of 2013, we determined that our directly-owned investment property located in Minneapolis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.00 Td (Minnesota was impaired as a result of the projected undiscounted cash flows for the property being less than its carrying value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.00 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 99.34 171.00 Td (, we recorded an impairment char) Tj ET Q q 0 0 0 rg BT 233.54 171.00 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.30 171.00 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 171.00 Td ( to write these assets down to fair value for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.31 171.00 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.40 171.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.00 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 159.00 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.16 159.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 135.00 Td (In January 2014, we dissolved our joint venture with ) Tj ET Q q 0 0 0 rg BT 281.12 135.00 Td (W) Tj ET Q q 0 0 0 rg BT 289.75 135.00 Td (eingarten. ) Tj ET Q q 0 0 0 rg BT 331.40 135.00 Td (As a result of the Grocery-Anchored Portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 123.00 Td (ransaction, we recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.41 123.00 Td ($13.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 123.00 Td (. Comparatively) Tj ET Q q 0 0 0 rg BT 350.58 123.00 Td (, during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.90 123.00 Td (six months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.23 123.00 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.00 Td (sold our 50% indirect interest in Distribution Park Rio and recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.48 111.00 Td ($16.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.38 111.00 Td ( as a result of the sale. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 87.00 Td (Additionally) Tj ET Q q 0 0 0 rg BT 117.90 87.00 Td (, we are continually evaluating each of our investments to determine the ideal time to sell assets in order to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.00 Td (achieve attractive total returns and provide additional liquidity to the Company) Tj ET Q q 0 0 0 rg BT 365.37 75.00 Td (.) Tj ET Q q 0 0 0 rg BT 372.32 75.00 Td (As a result of future potential disposals, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.00 Td (possible reinvestments and other factors, our results of operations for the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.24 63.00 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.07 63.00 Td ( could dif) Tj ET Q q 0 0 0 rg BT 492.21 63.00 Td (fer from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.00 Td (results of operations in future periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (Discontinued Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (In 2013, we sold ) Tj ET Q q 0 0 0 rg BT 136.98 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 146.02 706.10 Td (illiams ) Tj ET Q q 0 0 0 rg BT 175.56 706.10 Td (T) Tj ET Q q 0 0 0 rg BT 180.97 706.10 Td (ower) Tj ET Q q 0 0 0 rg BT 200.56 706.10 Td (, One ) Tj ET Q q 0 0 0 rg BT 224.54 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 233.58 706.10 Td (ilshire and the Raytheon/DIRECTV) Tj ET Q q 0 0 0 rg BT 376.98 706.10 Td ( buildings. ) Tj ET Q q 0 0 0 rg BT 424.03 706.10 Td (The operating results of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (properties have been reclassified and reported as income \(loss\) from discontinued operations in the Condensed Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Statements of Operations and Comprehensive Income \(Loss\) below) Tj ET Q q 0 0 0 rg BT 320.12 682.10 Td (. ) Tj ET Q q 0 0 0 rg BT 327.07 682.10 Td (As described in Note 2 Summary of Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Accounting Policies Recent ) Tj ET Q q 0 0 0 rg BT 175.53 670.10 Td (Accounting Pronouncements, we adopted amendments to the Codification regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (discontinued operations ef) Tj ET Q q 0 0 0 rg BT 155.35 658.10 Td (fective January 1, 2014. ) Tj ET Q q 0 0 0 rg BT 255.60 658.10 Td (As a result, none of our dispositions for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.13 658.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.22 658.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 646.10 Td ( were classified as discontinued operations.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 576.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 576.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 576.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 576.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 576.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 576.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 576.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 576.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 546.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 546.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 546.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 546.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 546.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 546.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 546.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 546.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 516.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 516.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 516.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 516.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 516.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 486.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 486.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 486.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 486.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 486.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 456.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 456.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 456.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 456.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 456.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.60 228.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 426.60 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 426.60 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 426.60 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 426.60 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 426.60 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 426.60 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 426.60 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 366.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 366.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 366.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 366.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 366.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 336.60 228.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 336.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 336.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 336.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 336.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 336.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 336.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 336.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 296.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 296.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 296.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 296.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 296.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 296.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 296.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 296.60 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 606.6 m 346.5 606.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 606.6 m 418.5 606.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 606.6 m 490.5 606.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 606.6 m 562.5 606.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 546.6 m 346.5 546.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 546.6 m 418.5 546.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 546.6 m 490.5 546.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 546.6 m 562.5 546.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 441.6 m 490.5 441.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 441.6 m 562.5 441.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 441.6 m 346.5 441.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 426.6 m 346.5 426.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 441.6 m 418.5 441.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 426.6 m 418.5 426.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 426.6 m 490.5 426.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 426.6 m 562.5 426.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 381.6 m 346.5 381.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 381.6 m 418.5 381.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 381.6 m 490.5 381.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 381.6 m 562.5 381.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 336.6 m 346.5 336.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 336.6 m 418.5 336.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 336.6 m 490.5 336.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 336.6 m 562.5 336.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 296.6 m 346.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 296.6 m 418.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 296.6 m 490.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 296.6 m 562.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 282.6 m 346.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 280.6 m 346.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 282.6 m 418.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 280.6 m 418.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 282.6 m 490.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 280.6 m 490.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 282.6 m 562.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 280.6 m 562.5 280.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.00 626.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 626.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.50 626.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 611.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.00 611.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.00 611.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 611.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 611.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.00 611.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.00 611.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 596.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 596.28 Td (\(In thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 581.28 Td (Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.27 Td (Rental revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 566.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 566.32 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 566.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 566.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 566.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 566.27 Td (11,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 566.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 566.32 Td (\(56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 566.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 566.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 566.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 566.27 Td (30,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 551.27 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 551.27 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 551.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 551.27 Td (2,932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 551.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 551.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 551.27 Td (6,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 536.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 536.27 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 536.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 536.27 Td (14,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 536.32 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 536.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 536.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 536.27 Td (36,945) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 521.28 Td (Expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 521.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 521.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 506.27 Td (Property operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 506.27 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 506.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 506.27 Td (3,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 506.27 Td (171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 506.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 506.27 Td (9,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.27 Td (Real property taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 491.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 491.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 491.27 Td (1,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 491.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 491.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 491.27 Td (4,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 476.27 Td (Property management fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 476.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 476.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 476.27 Td (334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 476.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 476.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 476.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 476.27 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 461.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 461.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 461.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 461.27 Td (3,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 461.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 461.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 461.27 Td (7,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.27 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 446.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 446.27 Td (2,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 446.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 446.27 Td (2,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 431.27 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 431.27 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 431.27 Td (11,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 431.27 Td (170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 431.27 Td (24,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.27 Td (Income \(loss\) from discontinued operations before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 406.27 Td (interest income \(expense\), benefit \(provision\) for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.27 Td (income taxes and gain \(loss\) on sale of discontinued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.27 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 386.32 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 386.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 386.27 Td (3,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 386.32 Td (\(209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 386.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 386.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 386.27 Td (12,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 371.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 371.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 371.32 Td (\(2,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 371.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 371.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 371.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 371.32 Td (\(6,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 371.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.27 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 356.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 356.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 356.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 356.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 356.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 356.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 341.27 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 341.32 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 341.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 341.32 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 341.32 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.27 Td (Income \(loss\) from discontinued operations before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.27 Td (gain \(loss\) on sale of discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 316.32 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 316.27 Td (842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 316.32 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 316.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 316.27 Td (5,474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 301.27 Td (Gain \(loss\) on sale of discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 301.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 301.27 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 301.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 301.27 Td (144,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 286.27 Td (Income \(loss\) from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.30 286.32 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 286.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 286.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 286.27 Td (979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 286.32 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 286.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 286.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 286.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 286.27 Td (149,568) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 258.10 Td (RESUL) Tj ET Q q 0 0 0 rg BT 100.43 258.10 Td (TS FOR OUR INDIRECTL) Tj ET Q q 0 0 0 rg BT 219.25 258.10 Td (Y) Tj ET Q q 0 0 0 rg BT 225.55 258.10 Td (-OWNED PROPER) Tj ET Q q 0 0 0 rg BT 311.03 258.10 Td (TIES) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 234.10 Td (Our Interest in the Core Fund) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 210.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 210.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 210.10 Td (, we owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.53 210.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.36 210.10 Td (non-managing general partner interest in the Core Fund, which held interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.00 198.10 Td ( properties that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.41 198.10 Td (84%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.74 198.10 Td ( leased. ) Tj ET Q q 0 0 0 rg BT 194.67 198.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.12 198.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.95 198.10 Td (, we owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.21 198.10 Td (27.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.04 198.10 Td ( non-managing general partner interest in the Core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (Fund, which held interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.32 186.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.32 186.10 Td ( properties that were) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.73 186.10 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.06 186.10 Td ( leased. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 162.10 Td (Our equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.83 162.10 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.70 162.10 Td ( related to our investment in the Core Fund for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.08 162.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.91 162.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.46 162.10 Td ($41.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 150.10 Td (, compared to equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.87 150.10 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.74 150.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.07 150.10 Td ($78.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.97 150.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.34 150.10 Td (three months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.98 150.10 Td (. Our equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.81 150.10 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.69 150.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (related to our investment in the Core Fund for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.06 138.10 Td (six months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.39 138.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.94 138.10 Td ($82.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.83 138.10 Td (, compared to equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.10 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.88 126.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.21 126.10 Td ($81.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.10 126.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.48 126.10 Td (six months ended June 30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.80 126.10 Td (. ) Tj ET Q q 0 0 0 rg BT 315.62 126.10 Td (The change in our equity in earnings \(losses\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.67 126.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td (and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.61 114.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.43 114.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.26 114.10 Td ( primarily resulted from the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (In January 2014, the Core Fund sold 101 Second Street, an of) Tj ET Q q 0 0 0 rg BT 332.17 742.10 Td (fice property located in San Francisco, California, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (it acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.26 730.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.52 730.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.18 730.10 Td ($157.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.07 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 399.89 730.10 Td (The contract sales price was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.11 730.10 Td ($297.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 119.34 718.10 Td (As a result of the sale of 101 Second Street, the Core Fund recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.91 718.10 Td ($174.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 534.62 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 543.26 718.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.85 706.10 Td ($41.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.74 706.10 Td ( in relation to this sale which is included in equity in earnings \(losses\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (unconsolidated entities, net, in the consolidated statements of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.75 694.10 Td (six months ended June 30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.08 694.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (In May 2014, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 221.37 670.10 Td (The KPMG Building, an of) Tj ET Q q 0 0 0 rg BT 330.90 670.10 Td (fice property located in San Francisco, California, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (it acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.26 658.10 Td (September 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.52 658.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.18 658.10 Td ($148.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.07 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 399.89 658.10 Td (The contract sales price was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.11 658.10 Td ($274.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 119.34 646.10 Td (As a result of the sale of ) Tj ET Q q 0 0 0 rg BT 218.85 646.10 Td (The KPMG Building, the Core Fund recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.41 646.10 Td ($155.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.30 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 548.25 646.10 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (a result of the sale, we recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.76 634.10 Td ($37.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 634.10 Td (, which is included in equity in earnings \(losses\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (unconsolidated entities, net, in the consolidated statements of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.75 622.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.85 622.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.67 622.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 610.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (In June 2014, the Core Fund sold 720 Olive ) Tj ET Q q 0 0 0 rg BT 263.58 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 272.22 586.10 Td (ay) Tj ET Q q 0 0 0 rg BT 281.01 586.10 Td (, an of) Tj ET Q q 0 0 0 rg BT 306.10 586.10 Td (fice property located in Seattle, ) Tj ET Q q 0 0 0 rg BT 433.64 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 442.28 586.10 Td (ashington, which it acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.28 574.10 Td (January 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.88 574.10 Td ( for a contract purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.53 574.10 Td ($83.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.42 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 338.24 574.10 Td (The contract sales price was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.47 574.10 Td ($101.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.36 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 516.81 574.10 Td (As a result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (of the sale of 720 Olive ) Tj ET Q q 0 0 0 rg BT 182.46 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 191.10 562.10 Td (ay) Tj ET Q q 0 0 0 rg BT 199.89 562.10 Td (, the Core Fund recognized a gain on sale of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 562.10 Td (26.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.89 562.10 Td (. ) Tj ET Q q 0 0 0 rg BT 439.84 562.10 Td (As a result of the sale, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (recognized a gain of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.85 550.10 Td (5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.74 550.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (consolidated statements of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.62 538.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.71 538.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.54 538.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.37 538.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td (CORPORA) Tj ET Q q 0 0 0 rg BT 117.81 514.10 Td (TE LEVEL) Tj ET Q q 0 0 0 rg BT 167.00 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.95 514.10 Td (ACTIVITIES) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (Other Corporate-level ) Tj ET Q q 0 0 0 rg BT 160.39 490.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 466.10 Td (The tables below provide detail relating to our asset management fees and general and administrative expenses \(all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (amounts in thousands, except percentages\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 402.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 402.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 402.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 402.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 402.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 402.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 402.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 402.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 372.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 372.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 372.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 372.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 372.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 342.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 342.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 342.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 342.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 342.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 342.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 342.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 268.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 268.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 268.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 268.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 268.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 238.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 238.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 238.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 238.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 238.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 238.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 238.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 238.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 208.60 222.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 208.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 208.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 208.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 208.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 208.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 208.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 208.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 417.6 m 344.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 417.6 m 348.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 417.6 m 420.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 417.6 m 491.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 417.6 m 495.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 402.6 m 344.5 402.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 402.6 m 420.5 402.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 402.6 m 491.5 402.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 402.6 m 562.5 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 372.6 m 344.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 372.6 m 420.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 372.6 m 491.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 372.6 m 344.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 358.6 m 344.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 356.6 m 344.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 372.6 m 420.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 358.6 m 420.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 356.6 m 420.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 372.6 m 491.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 358.6 m 491.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 356.6 m 491.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 372.6 m 562.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 358.6 m 562.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 356.6 m 562.5 356.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 283.6 m 344.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 283.6 m 348.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 283.6 m 420.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 283.6 m 491.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 283.6 m 495.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 283.6 m 562.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 283.6 m 344.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 268.6 m 344.5 268.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 283.6 m 420.5 283.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 268.6 m 420.5 268.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 268.6 m 491.5 268.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 268.6 m 562.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 238.60000000000002 m 344.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 224.60000000000002 m 344.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 222.60000000000002 m 344.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 238.60000000000002 m 420.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 224.60000000000002 m 420.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 222.60000000000002 m 420.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 238.60000000000002 m 491.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 224.60000000000002 m 491.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 222.60000000000002 m 491.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 238.60000000000002 m 562.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 224.60000000000002 m 562.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 222.60000000000002 m 562.5 222.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.45 422.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.60 422.28 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.00 407.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 407.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.00 407.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.50 407.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 392.27 Td (Acquisition fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 392.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 392.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 392.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 392.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 392.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 392.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 392.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 392.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 377.27 Td (Asset management fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 377.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 377.27 Td (8,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 377.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 377.27 Td (8,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 377.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 377.27 Td (426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 377.27 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 377.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.27 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 362.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 362.27 Td (8,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 362.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 362.27 Td (8,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 362.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 362.27 Td (426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 362.27 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 362.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 332.27 Td (Acquisition-related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 332.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 332.27 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 332.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 332.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 332.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 332.27 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 332.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 332.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 317.27 Td (General and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 317.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 317.27 Td (1,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 317.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 317.27 Td (1,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 317.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 317.32 Td (\(219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 317.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 317.27 Td (\(11.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 317.27 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 288.28 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.60 288.28 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.00 273.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 273.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.00 273.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.50 273.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.27 Td (Acquisition fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 258.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 258.27 Td (1,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 258.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 258.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 258.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 258.27 Td (1,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 258.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 258.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 243.27 Td (Asset management fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 243.27 Td (18,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 243.27 Td (16,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 243.27 Td (1,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 243.27 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 243.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 228.27 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 228.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 228.27 Td (19,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 228.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 228.27 Td (16,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 228.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 228.27 Td (2,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 228.27 Td (16.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 228.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 198.27 Td (Acquisition related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 198.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 198.27 Td (269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 198.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 198.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 198.27 Td (269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 198.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 183.27 Td (General and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 183.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 183.27 Td (3,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 183.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 183.27 Td (3,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 183.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 183.27 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 183.27 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 183.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 155.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 155.10 Td (e pay acquisition fees to our ) Tj ET Q q 0 0 0 rg BT 191.05 155.10 Td (Advisor for services related to the due diligence, selection and acquisition of direct or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (indirect real estate investments. ) Tj ET Q q 0 0 0 rg BT 178.38 143.10 Td (The acquisition fee is equal to 0.50% of \(i\) the purchase price of real estate investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (acquired directly by us, including any debt attributable to such investments or \(ii\) when we make an investment indirectly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (through another entity) Tj ET Q q 0 0 0 rg BT 138.22 119.10 Td (, such investment) Tj ET Q q 0 0 0 rg BT 210.71 119.10 Td (s pro rata share of the gross asset value of real estate investments held by that entity) Tj ET Q q 0 0 0 rg BT 544.96 119.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (Acquisition fees increased for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.89 107.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.89 107.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.39 107.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.22 107.10 Td (, as compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.34 107.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.34 107.10 Td (, due to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (acquisition of the Howard Hughes Center in January 2014. In connection with the acquisition of the Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 545.87 95.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (we were obligated to pay approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.28 83.10 Td (5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.17 83.10 Td ( of acquisition fees to the ) Tj ET Q q 0 0 0 rg BT 364.92 83.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 396.74 83.10 Td (, half of which was payable in cash and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (half of which was payable related to the Participation Interest. ) Tj ET Q q 0 0 0 rg BT 300.56 71.10 Td (The ) Tj ET Q q 0 0 0 rg BT 318.06 71.10 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 395.46 71.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.41 71.10 Td (Associates Limited Partnership, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (holder of the Participation Interest, respectively) Tj ET Q q 0 0 0 rg BT 239.84 59.10 Td (, agreed to waive $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.64 59.10 Td (1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.53 59.10 Td ( of the cash acquisition fee and all of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.92 59.10 Td (2.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 47.10 Td ( acquisition fee payable as an increase to the Participation Interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 730.10 Td (e also pay monthly asset management fees to our ) Tj ET Q q 0 0 0 rg BT 274.64 730.10 Td (Advisor based on an annual fee equal to 1.5% of the amount net equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (capital invested in real estate investments. ) Tj ET Q q 0 0 0 rg BT 223.10 718.10 Td (The increase in our asset management fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.51 718.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.60 718.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 706.10 Td ( compared to the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.51 706.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.51 706.10 Td ( is primarily due to the Board) Tj ET Q q 0 0 0 rg BT 381.04 706.10 Td (s determination of a reduction in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 694.10 Td (s estimated per share net asset value in March 2013, which reduced the asset management fee expense recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.33 682.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.42 682.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.24 682.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.07 682.10 Td ( related to the Participation Interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (General and administrative expenses include legal and accounting fees, insurance costs, costs and expenses associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (our board of directors and other administrative expenses. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (Funds from Operations and Modified Funds from Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td (Funds from Operations \(FFO\) is a non-GAAP) Tj ET Q q 0 0 0 rg BT 260.94 598.10 Td ( financial performance measure defined by the National ) Tj ET Q q 0 0 0 rg BT 485.85 598.10 Td (Association of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 144.51 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 150.27 586.10 Td (rusts \(NAREIT\) and widely recognized by investors and analysts as one measure of operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (performance of a real estate company) Tj ET Q q 0 0 0 rg BT 199.55 574.10 Td (. FFO excludes items such as real estate depreciation and amortization. Depreciation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (amortization, as applied in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 252.44 562.10 Td (, implicitly assumes that the value of real estate assets diminishes predictably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (over time and also assumes that such assets are adequately maintained and renovated as required in order to maintain their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (value. Since real estate values have historically risen or fallen with market conditions such as occupancy rates, rental rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (inflation, interest rates, the business cycle, unemployment and consumer spending, it is management) Tj ET Q q 0 0 0 rg BT 454.90 526.10 Td (s view) Tj ET Q q 0 0 0 rg BT 480.08 526.10 Td (, and we believe the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (view of many industry investors and analysts, that the presentation of operating results for real estate companies using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (historical cost accounting alone is insuf) Tj ET Q q 0 0 0 rg BT 207.84 502.10 Td (ficient. In addition, FFO excludes gains and losses from the sale of real estate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.63 490.10 Td (ges related to depreciable real estate assets and in-substance real estate equity investments, which we believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (provides management and investors with a helpful additional measure of the historical performance of our real estate portfolio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (as it allows for comparisons, year to year) Tj ET Q q 0 0 0 rg BT 213.99 466.10 Td (, that reflect the impact on operations from trends in items such as occupancy rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (rental rates, operating costs, general and administrative expenses and interest costs. ) Tj ET Q q 0 0 0 rg BT 384.89 454.10 Td (A) Tj ET Q q 0 0 0 rg BT 391.56 454.10 Td ( property will be evaluated for impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (if events or circumstances indicate that the carrying amount may not be recoverable \(i.e. the carrying amount exceeds the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (estimated undiscounted future cash flows from the property\). Undiscounted future cash flows are based on anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (operating performance, including estimated future net rental and lease revenues, net proceeds on the sale of the property) Tj ET Q q 0 0 0 rg BT 529.99 418.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (certain other ancillary cash flows. ) Tj ET Q q 0 0 0 rg BT 187.54 406.10 Td (While impairment char) Tj ET Q q 0 0 0 rg BT 280.10 406.10 Td (ges are excluded from the calculation of FFO as described above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (stockholders are cautioned that due to the limited term of our operations, it could be dif) Tj ET Q q 0 0 0 rg BT 399.17 394.10 Td (ficult to recover any impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 382.10 Td (ges. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td (In addition to FFO, management uses modified funds from operations \(MFFO\), as defined by the Investment Program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (Association \(the IP) Tj ET Q q 0 0 0 rg BT 130.18 346.10 Td (A\), as a non-GAAP) Tj ET Q q 0 0 0 rg BT 213.12 346.10 Td ( supplemental financial performance measure to evaluate our operating performance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (The IP) Tj ET Q q 0 0 0 rg BT 76.02 334.10 Td (A) Tj ET Q q 0 0 0 rg BT 82.69 334.10 Td ( has recommended the use of MFFO as a supplemental measure for publicly registered, non-listed REIT) Tj ET Q q 0 0 0 rg BT 498.55 334.10 Td (s to enhance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (the assessment of the operating performance of a non-listed REIT) Tj ET Q q 0 0 0 rg BT 312.23 322.10 Td (. MFFO is not equivalent to our net income or loss as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (determined under GAAP) Tj ET Q q 0 0 0 rg BT 148.87 310.10 Td (, and MFFO may not be useful as a measure of the long-term operating performance of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (investments or as a comparative measure to other publicly registered, non-listed REIT) Tj ET Q q 0 0 0 rg BT 393.64 298.10 Td (s if we do not continue to operate with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (limited life and tar) Tj ET Q q 0 0 0 rg BT 123.96 286.10 Td (geted exit strategy) Tj ET Q q 0 0 0 rg BT 196.62 286.10 Td (, as currently intended and described herein. MFFO includes funds generated by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (operations of our real estate investments and funds used in our corporate-level operations. MFFO is based on FFO, but includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (certain additional adjustments which we believe are appropriate. Such items include reversing the ef) Tj ET Q q 0 0 0 rg BT 450.79 262.10 Td (fects of straight-line rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (revenue recognition, fair value adjustments to derivative instruments that do not qualify for hedge accounting treatment, gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (or losses related to fair value adjustments for derivatives not qualifying for hedge accounting, and gains or losses related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (early extinguishment of hedges or debt. Some of these adjustments are necessary to address changes in the accounting and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (reporting rules under GAAP) Tj ET Q q 0 0 0 rg BT 163.22 214.10 Td ( for real estate subsequent to the establishment of NAREIT) Tj ET Q q 0 0 0 rg BT 402.32 214.10 Td (s definition of FFO. ) Tj ET Q q 0 0 0 rg BT 486.59 214.10 Td (These changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (also have prompted a significant increase in the magnitude of non-cash and non-operating items included in FFO, as defined. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Such items include amortization of out-of-market lease intangible assets and liabilities and certain tenant incentives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 166.10 Td (The purchase of properties, and the corresponding expenses associated with that process, including acquisition fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (expenses, is a key operational feature of our business plan to generate operational income and cash flows in order to make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (distributions to our stockholders. MFFO excludes acquisition expenses. Under GAAP) Tj ET Q q 0 0 0 rg BT 392.47 142.10 Td (, acquisition expenses are characterized as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (operating expenses in determining operating net income. ) Tj ET Q q 0 0 0 rg BT 279.19 130.10 Td (These expenses are paid in cash by us, and therefore such funds will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (not be available to distribute to our stockholders. ) Tj ET Q q 0 0 0 rg BT 247.46 118.10 Td (All paid and accrued acquisition expenses with respect to the acquisition of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (property negatively impact our operating performance during the period in which the property is acquired and will have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (negative ef) Tj ET Q q 0 0 0 rg BT 93.96 94.10 Td (fects on returns to our stockholders, the potential for future distributions, and future cash flows, unless earnings from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (operations or net sales proceeds from the disposition of other properties are generated to cover the purchase price of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (property) Tj ET Q q 0 0 0 rg BT 83.23 70.10 Td (, the related acquisition expenses and other costs related to such property) Tj ET Q q 0 0 0 rg BT 374.15 70.10 Td (. In addition, if we acquire a property) Tj ET Q q 0 0 0 rg BT 522.61 70.10 Td (, there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (will not be any of) Tj ET Q q 0 0 0 rg BT 120.36 58.10 Td (fering proceeds to pay the corresponding acquisition-related costs. ) Tj ET Q q 0 0 0 rg BT 387.78 58.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 437.11 58.10 Td (, unless our ) Tj ET Q q 0 0 0 rg BT 484.89 58.10 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (determines to waive the payment of any then-outstanding acquisition-related costs otherwise payable to the ) Tj ET Q q 0 0 0 rg BT 480.99 46.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 512.81 46.10 Td (, such costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (will be paid from additional debt, operational earnings or cash flow) Tj ET Q q 0 0 0 rg BT 318.99 742.10 Td (, net proceeds from the sale of properties, or ancillary cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 77.04 730.10 Td (Therefore, MFFO may not be an accurate indicator of our operating performance, especially during periods in which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (properties are being acquired. Since MFFO excludes acquisition expenses, MFFO would only be comparable to the operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (of non-listed REIT) Tj ET Q q 0 0 0 rg BT 124.84 706.10 Td (s that have completed their acquisition activity and have other similar operating characteristics. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (MFFO is useful in assisting management and investors in assessing the sustainability \(that is, the capacity to continue to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (maintained\) of operating performance in future operating periods, and in particular) Tj ET Q q 0 0 0 rg BT 380.86 670.10 Td (, after the of) Tj ET Q q 0 0 0 rg BT 429.54 670.10 Td (fering and acquisition stages are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (complete and net asset value is disclosed. MFFO is not a useful measure in evaluating net asset value because impairments are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (taken into account in determining net asset value but not in determining MFFO. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (Management uses MFFO to evaluate the financial performance of our investment portfolio, including the impact of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (potential future investments. In addition, our board of directors uses MFFO to evaluate and establish our distribution policy and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (the sustainability thereof. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td (FFO and MFFO should not be construed to be more relevant or accurate than the current GAAP) Tj ET Q q 0 0 0 rg BT 451.98 574.10 Td ( methodology in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (calculating net income or in its applicability in evaluating our operating performance. In addition, FFO and MFFO should not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (be considered as alternatives to net income \(loss\) or income \(loss\) from continuing operations as an indication of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (performance or as alternatives to cash flows from operating activities as an indication of our liquidity) Tj ET Q q 0 0 0 rg BT 454.50 538.10 Td (, but rather should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (reviewed in conjunction with these and other GAAP) Tj ET Q q 0 0 0 rg BT 259.30 526.10 Td ( measurements. Further) Tj ET Q q 0 0 0 rg BT 353.04 526.10 Td (, FFO and MFFO are not intended to be used as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (liquidity measures indicative of cash flow available to fund our cash needs, including our ability to make distributions to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (stockholders. Please see the limitations listed below associated with the use of MFFO:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 112.64 478.10 Td (e use interest rate swap contracts as economic hedges against the variability of interest rates on variable rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.10 Td (loans. ) Tj ET Q q 0 0 0 rg BT 129.56 466.10 Td (Although we expect to hold these instruments to maturity) Tj ET Q q 0 0 0 rg BT 358.87 466.10 Td (, if we were to settle these instruments currently) Tj ET Q q 0 0 0 rg BT 550.10 466.10 Td (, it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 454.10 Td (would have an impact on our operating performance. ) Tj ET Q q 0 0 0 rg BT 318.09 454.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 367.99 454.10 Td (, these derivative instruments are measured at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 442.10 Td (fair value on a quarterly basis in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 329.20 442.10 Td (. MFFO excludes gains \(losses\) related to changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 430.10 Td (these estimated values of our derivative instruments because such adjustments may not be reflective of ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.10 Td (operations and may reflect unrealized impacts on our operating performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 394.10 Td (MFFO excludes acquisition expenses. ) Tj ET Q q 0 0 0 rg BT 260.65 394.10 Td (Although these amounts reduce net income, we are currently funding such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 382.10 Td (costs with sales proceeds and acquisition-related indebtedness and do not consider these fees and expenses in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 370.10 Td (evaluation of our operating performance and determining MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.10 Td (MFFO excludes impairment char) Tj ET Q q 0 0 0 rg BT 236.85 346.10 Td (ges related to long-lived assets that have been written down to current market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 334.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 152.05 334.10 Td (Although these losses are included in the calculation of net income \(loss\), we have excluded them ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 322.10 Td (from MFFO because we believe doing so more appropriately presents the operating performance of our real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 310.10 Td (investments on a comparative basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 286.10 Td (Our business is subject to volatility in the real estate markets and general economic conditions, and adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 274.10 Td (changes in those conditions could have a material adverse impact on our business, results of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 262.10 Td (MFFO. ) Tj ET Q q 0 0 0 rg BT 135.68 262.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 185.02 262.10 Td (, the predictive nature of MFFO is uncertain and past performance may not be indicative of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 250.10 Td (future results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.10 Td (Neither the Securities and Exchange Commission \(the SEC\), NAREIT) Tj ET Q q 0 0 0 rg BT 359.14 226.10 Td ( nor any regulatory body has passed judgment on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (the acceptability of the adjustments that we use to calculate FFO or MFFO. In the future, the SEC, NAREIT) Tj ET Q q 0 0 0 rg BT 482.78 214.10 Td ( or a regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (body may decide to standardize the allowable adjustments across the non-listed REIT) Tj ET Q q 0 0 0 rg BT 392.22 202.10 Td ( industry and we would have to adjust our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (calculation and characterization of FFO or MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 742.10 Td (The table below summarizes FFO and MFFO for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.90 742.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.99 742.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.82 742.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.09 742.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.09 742.10 Td ( and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (reconciliation of such non-GAAP) Tj ET Q q 0 0 0 rg BT 184.32 730.10 Td ( financial performance measures to our net income \(loss\) for the periods then ended \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (thousands\). ) Tj ET Q q 0 0 0 rg BT 98.15 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 106.79 718.10 Td (e are filing this ) Tj ET Q q 0 0 0 rg BT 168.99 718.10 Td (Amendment No. 1 to our Quarterly Report on Form 10-Q/A) Tj ET Q q 0 0 0 rg BT 408.96 718.10 Td ( solely for the purpose of correcting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the calculation of Modified Funds From Operations, which was understated by $6.7 million in the Original Filing. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 665.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 665.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 665.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 665.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 665.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 665.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 665.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 665.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.60 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 635.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 635.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 635.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 635.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 635.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 635.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 635.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 595.60 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 595.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 595.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 595.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 595.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 595.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 595.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 595.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 555.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 555.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 555.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 555.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 555.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 525.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 525.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 525.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 525.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 525.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 525.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 525.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 525.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 495.60 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 495.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 495.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 495.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 495.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 495.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 495.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 495.60 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 455.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 455.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 455.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 455.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 455.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 426.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 426.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 426.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 426.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 396.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 396.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 396.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 396.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 665.6 m 352.5 665.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 665.6 m 422.5 665.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 665.6 m 492.5 665.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 665.6 m 562.5 665.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 555.6 m 352.5 555.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 555.6 m 422.5 555.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 555.6 m 492.5 555.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 555.6 m 562.5 555.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 455.6 m 352.5 455.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 455.6 m 422.5 455.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 455.6 m 492.5 455.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 455.6 m 562.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 441.6 m 352.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 439.6 m 352.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 441.6 m 422.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 439.6 m 422.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 441.6 m 492.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 439.6 m 492.5 439.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 455.6 m 562.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 441.6 m 562.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 439.6 m 562.5 439.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 685.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.45 685.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 685.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 670.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.00 670.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 670.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 670.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 670.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 655.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 655.27 Td (40,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 655.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 655.27 Td (78,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 655.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 655.27 Td (82,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 655.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 655.27 Td (236,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 640.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 187.12 644.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 640.27 Td (24,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 640.27 Td (15,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 640.27 Td (49,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 640.27 Td (33,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.27 Td (Gain on sale or dissolution of investment property ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 615.27 Td (and unconsolidated joint venture) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 183.80 619.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 615.32 Td (\(10,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 615.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.30 615.32 Td (\(259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 615.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 615.32 Td (\(22,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 615.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 615.32 Td (\(160,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 615.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.27 Td (Impairment on real estate investments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 217.67 604.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 600.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 600.27 Td (3,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 600.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 600.27 Td (3,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 585.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 585.27 Td (Adjustments to equity in earnings \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.27 Td (unconsolidatedentities, net) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.14 579.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.80 575.32 Td (\(36,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 575.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 575.32 Td (\(71,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 575.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 575.32 Td (\(71,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 575.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 575.32 Td (\(67,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 575.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 560.27 Td () Tj ET Q q 0 0 0 rg BT 64.95 560.27 Td (Adjustments for noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.87 564.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 560.32 Td (\(238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 560.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.30 560.32 Td (\(669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 560.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 560.32 Td (\(591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 560.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 560.32 Td (\(347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 560.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 545.27 Td (Funds from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 545.27 Td (17,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 545.27 Td (25,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 545.27 Td (36,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 545.27 Td (46,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 530.27 Td (\(Gain\) loss on derivative instruments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 213.81 534.80 Td (\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 530.32 Td (\(3,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 530.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 530.32 Td (\(13,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 530.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 530.32 Td (\(9,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 530.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 530.32 Td (\(19,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 530.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 515.27 Td (Other components of revenues and expenses) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 243.50 519.80 Td (\(7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 515.27 Td (901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 515.27 Td (2,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 515.27 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 515.27 Td (4,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 500.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 500.27 Td (Acquisition fees and expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 188.25 504.80 Td (\(8\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 500.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 500.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 500.27 Td (1,119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 500.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 485.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 485.27 Td (Adjustments to equity in earnings \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 475.27 Td (unconsolidatedentities, net) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.14 479.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 475.32 Td (\(545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 475.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.30 475.32 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 475.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 475.32 Td (\(1,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 475.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 475.32 Td (\(2,420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 475.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.27 Td () Tj ET Q q 0 0 0 rg BT 64.95 460.27 Td (Adjustments for noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.87 464.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 460.27 Td (234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 460.27 Td (655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 460.27 Td (413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 460.27 Td (972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 445.27 Td (Modified Funds From Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 445.27 Td (14,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 445.27 Td (14,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 445.27 Td (30,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 445.27 Td (29,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.27 Td (Basic and Diluted Income \(Loss\) Per Common Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 416.27 Td (0.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 416.27 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 416.27 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 416.27 Td (1.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 401.27 Td (Funds From Operations Per Common Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 401.27 Td (0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 401.27 Td (0.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 401.27 Td (0.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 401.27 Td (0.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.27 Td (Modified Funds From Operations Per Common Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 386.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 386.27 Td (0.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 386.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 386.27 Td (0.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 386.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 386.27 Td (0.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 386.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 386.27 Td (0.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.27 Td (Weighted Average Shares Outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 371.27 Td (226,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 371.27 Td (233,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 371.27 Td (227,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 371.27 Td (233,410) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 343.10 Td (Represents the depreciation and amortization of various real estate assets.Historical cost accounting for real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 331.10 Td (assets in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 216.70 331.10 Td ( implicitly assumes that the value of real estate assets diminishes predictably over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 319.10 Td (time. Since real estate values have historically risen or fallen with market conditions, we believe that such depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 307.10 Td (and amortization may be of limited relevance in evaluating current operating performance and, as such, these items are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 295.10 Td (excluded from our determination of FFO. ) Tj ET Q q 0 0 0 rg BT 256.89 295.10 Td (This amount includes $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.49 295.10 Td (8.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.38 295.10 Td ( of depreciation and amortization related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 283.10 Td (to discontinued operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.91 283.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.91 283.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.41 283.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.24 283.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 259.10 Td (Represents the gain on disposition of certain real estate investments. ) Tj ET Q q 0 0 0 rg BT 361.21 259.10 Td (Althoughthis gain isincluded in the calculation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 247.10 Td (of net income \(loss\), we have excluded it from FFObecause webelievedoing somore appropriately presentsthe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 235.10 Td (operating performance of our real estate investments on a comparative basis. ) Tj ET Q q 0 0 0 rg BT 395.15 235.10 Td (This adjustment includes amounts from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 223.10 Td (the Gain \(loss\) on sale or dissolution of unconsolidated joint venture and Gain \(loss\) on sale of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 211.10 Td (investments included in the condensed consolidated statements of operations and comprehensive income \(loss\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 187.10 Td (Represents impairment char) Tj ET Q q 0 0 0 rg BT 198.00 187.10 Td (ges recorded in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 187.10 Td (second quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.89 187.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.22 187.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.22 187.10 Td ( in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 474.85 187.10 Td (. ) Tj ET Q q 0 0 0 rg BT 481.80 187.10 Td (Although such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 175.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 151.63 175.10 Td (ges on operating real estate investments are included in the calculation of net income \(loss\), we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 163.10 Td (excluded them from FFO because we believe doing so more appropriately presents the operating performance of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 151.10 Td (real estate investments on a comparative basis. ) Tj ET Q q 0 0 0 rg BT 277.70 151.10 Td (This amount includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.30 151.10 Td ($2.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.19 151.10 Td ( of impairment losses related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 139.10 Td (discontinued operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.64 139.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.73 139.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.55 139.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.38 139.10 Td (. See Results of Operations Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 127.10 Td (Directly-Owned Properties for additional information regarding our impairment char) Tj ET Q q 0 0 0 rg BT 429.59 127.10 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 103.10 Td (Includes adjustments to equity in earnings \(losses\) of unconsolidated entities, net, similar to those described in Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 91.10 Td (1, 2, 3, 6 and 7 for our unconsolidated entities, which are necessary to convert our share of income \(loss\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 79.10 Td (unconsolidated entities to FFO and MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Includes income attributable to noncontrolling interests and all adjustments to eliminate the noncontrolling interests) Tj ET Q q 0 0 0 rg BT 551.54 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (share of the adjustments to convert our net income \(loss\) to FFO and MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (Represents components of net income \(loss\) related to the estimated changes in the values of our interest rate swap ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (derivatives.) Tj ET Q q 0 0 0 rg BT 137.19 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 145.83 694.10 Td (e have excluded these changes in value from our evaluation of our operating performance and MFFO ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (because we expect to hold the underlying instruments to their maturity and accordingly the interim gains or losses will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (remain unrealized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (Includesthe following components of revenues and expenses that we do not consider in evaluating our operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (performance and determining MFFO\(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 581.60 224.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 581.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 581.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.60 224.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 551.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 551.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.60 224.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 521.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 521.60 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 581.6 m 340.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 581.6 m 410.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 581.6 m 486.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 581.6 m 562.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 581.6 m 340.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 581.6 m 410.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 581.6 m 486.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 581.6 m 562.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 521.6 m 340.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 521.6 m 410.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 521.6 m 486.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 521.6 m 562.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 507.6 m 340.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 505.6 m 340.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 507.6 m 410.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 505.6 m 410.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 507.6 m 486.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 505.6 m 486.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 507.6 m 562.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 505.6 m 562.5 505.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.45 601.28 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 601.28 Td (Six Months Ended June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.00 586.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 586.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.00 586.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 586.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.27 Td (Straight-line rent adjustment \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 571.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.80 571.32 Td (\(1,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 571.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.80 571.32 Td (\(1,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 571.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.80 571.32 Td (\(2,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 571.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 571.32 Td (\(2,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td (Amortization of lease incentives \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 556.27 Td (3,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 556.27 Td (4,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 556.27 Td (7,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 556.27 Td (8,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.27 Td (Amortization of out-of-market leases \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 541.32 Td (\(972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 541.32 Td (\(833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.80 541.32 Td (\(1,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 541.32 Td (\(1,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 526.27 Td (111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 526.27 Td (207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 526.27 Td (221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 526.27 Td (415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 511.27 Td (901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 511.27 Td (2,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 511.27 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 511.27 Td (4,501) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 483.10 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 483.10 Td (Represents the adjustments to rental revenue as required by GAAP) Tj ET Q q 0 0 0 rg BT 389.06 483.10 Td ( to recognize minimum lease payments on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 471.10 Td (a straight-line basis over the respective lease terms.) Tj ET Q q 0 0 0 rg BT 332.30 471.10 Td (W) Tj ET Q q 0 0 0 rg BT 340.94 471.10 Td (e have excluded these adjustments from our evaluation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 459.10 Td (of the operating performance of the Company and in determining MFFO because we believe that the rent that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 447.10 Td (is billable during the current period is a more relevant measure of the Company) Tj ET Q q 0 0 0 rg BT 442.73 447.10 Td (s operating performance for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 435.10 Td (such period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 411.10 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 411.10 Td (Represents the amortization of lease incentives and out-of-market leases.) Tj ET Q q 0 0 0 rg BT 418.28 411.10 Td (As stated in Note 1 above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 399.10 Td (historical cost accounting for real estate assets in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 414.30 399.10 Td ( implicitly assumes that the value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 387.10 Td (real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 375.10 Td (with market conditions, we believe that such amortization may be of limited relevance in evaluating current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 363.10 Td (operating performance and, as such, these items are excluded from our determination of MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 339.10 Td (Represents acquisition expenses and acquisition fees paid to our ) Tj ET Q q 0 0 0 rg BT 344.55 339.10 Td (Advisor that are expensed in our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 327.10 Td (statements of operations. ) Tj ET Q q 0 0 0 rg BT 188.02 327.10 Td (W) Tj ET Q q 0 0 0 rg BT 196.65 327.10 Td (e fund such costs with sales proceeds and acquisition-related indebtedness, and therefore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 315.10 Td (do not consider these expenses in evaluating our operating performance and determining MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 291.10 Td (Set forth below is additional information relating to certain items excluded from the analysis above which may be helpful ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.10 Td (in assessing our operating results:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 255.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 255.10 Td (Amortization of deferred financing costs was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.27 255.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.16 255.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.60 255.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.49 255.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.87 255.10 Td (three months ended June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 243.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 243.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.44 243.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.44 243.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 216.10 243.10 Td (, and was deducted in determining MFFO. ) Tj ET Q q 0 0 0 rg BT 387.47 243.10 Td (Amortization of deferred financing costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 231.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.05 231.10 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.94 231.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.38 231.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.27 231.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 231.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 231.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 231.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.98 231.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.41 231.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.41 231.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 491.08 231.10 Td (, and was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 219.10 Td (deducted in determining MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 195.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 195.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.55 195.10 Td (six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.54 195.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.04 195.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.87 195.10 Td (, the Core Fund sold its interest in 101 Second Street, ) Tj ET Q q 0 0 0 rg BT 493.50 195.10 Td (The KPMG ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 183.10 Td (Building and 720 Olive ) Tj ET Q q 0 0 0 rg BT 200.48 183.10 Td (W) Tj ET Q q 0 0 0 rg BT 209.12 183.10 Td (ay) Tj ET Q q 0 0 0 rg BT 217.91 183.10 Td (. For additional information regarding the sale of these properties by the Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 171.10 Td (see Results of Operations Results for our Indirectly-Owned Properties Our Interest in the Core Fund. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 147.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 147.10 Td (A) Tj ET Q q 0 0 0 rg BT 110.67 147.10 Td ( portion of our acquisition and asset management fees are paid in equity through the Participation Interest. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 135.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.72 135.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.81 135.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.64 135.10 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.47 135.10 Td (, we recorded asset management fee expense with respect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 123.10 Td (Participation Interest and its related distributions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.01 123.10 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.90 123.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.34 123.10 Td (1) Tj ET Q q 0 0 0 rg BT 389.97 123.10 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.86 123.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.97 123.10 Td (three and six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.06 123.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 111.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.38 111.10 Td (June30, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.21 111.10 Td (, we recorded expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.38 111.10 Td ($4.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.27 111.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.71 111.10 Td (9.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.60 111.10 Td (, with respect to the Participation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 99.10 Td (Interest and its related distributions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 742.25 Td (Related-Party T) Tj ET Q q 0 0 0 rg BT 132.89 742.25 Td (ransactions and ) Tj ET Q q 0 0 0 rg BT 200.87 742.25 Td (Agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 718.25 Td (e have entered into agreements with the ) Tj ET Q q 0 0 0 rg BT 237.41 718.25 Td (Advisor and Hines or its af) Tj ET Q q 0 0 0 rg BT 345.27 718.25 Td (filiates, whereby we pay certain fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (reimbursements to these entities, including property management fees, leasing fees, construction management fees, debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (financing fees, re-development construction management fees, reimbursement of or) Tj ET Q q 0 0 0 rg BT 384.69 694.25 Td (ganizational and of) Tj ET Q q 0 0 0 rg BT 461.15 694.25 Td (fering expenses, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (reimbursement of certain operating costs, as described elsewhere in this Quarterly Report on Form 10-Q/A) Tj ET Q q 0 0 0 rg BT 476.83 682.25 Td ( and previously in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 670.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.62 670.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.20 670.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 646.25 Td (Of) Tj ET Q q 0 0 0 rg BT 78.37 646.25 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 146.33 646.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 622.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 622.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.71 622.25 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.30 622.25 Td (, we had no of) Tj ET Q q 0 0 0 rg BT 303.04 622.25 Td (f-balance sheet arrangements that have or are reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (to have a current or future ef) Tj ET Q q 0 0 0 rg BT 164.20 610.25 Td (fect on our financial condition, changes in financial condition, revenues or expenses, results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (operations, liquidity) Tj ET Q q 0 0 0 rg BT 129.90 598.25 Td (, capital expenditures or capital resources.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 574.25 Td (Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 550.25 Td (Airport Corporate Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.25 Td (In July 2014, we entered into a contract to sell ) Tj ET Q q 0 0 0 rg BT 254.89 526.25 Td (Airport Corporate Center) Tj ET Q q 0 0 0 rg BT 355.57 526.25 Td (, a portfolio of properties located in the Miami ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Airport submarket of Miami, Florida. ) Tj ET Q q 0 0 0 rg BT 201.92 514.25 Td (Airport Corporate Center consists of 1) Tj ET Q q 0 0 0 rg BT 355.13 514.25 Td (1 buildings and a 5.46-acre land development site. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (The net contract sales price for ) Tj ET Q q 0 0 0 rg BT 175.50 502.25 Td (Airport Corporate Center is expected to be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.75 502.25 Td ($132.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 502.25 Td (, exclusive of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (transaction costs and closing prorations. ) Tj ET Q q 0 0 0 rg BT 212.56 490.25 Td (W) Tj ET Q q 0 0 0 rg BT 221.20 490.25 Td (e originally acquired our interest in ) Tj ET Q q 0 0 0 rg BT 363.94 490.25 Td (Airport Corporate Center in January 2006 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td ($156.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 478.25 Td (. ) Tj ET Q q 0 0 0 rg BT 113.71 478.25 Td (W) Tj ET Q q 0 0 0 rg BT 122.35 478.25 Td (e expect the closing of this sale to occur in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.07 478.25 Td (September 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.34 478.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Item3. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 454.25 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 254.63 454.25 Td (About Market Risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 430.25 Td (Market risk is the exposure to loss resulting from changes in interest rates, foreign currency exchange rates and equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (prices. Interest rate risk is the primary risk in pursuing our business plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 394.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 394.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.37 394.25 Td ($489.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.26 394.25 Td ( of debt outstanding under our HSH Nordbank credit facility) Tj ET Q q 0 0 0 rg BT 484.50 394.25 Td (, which is a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (variable-rate pooled mortgage facility) Tj ET Q q 0 0 0 rg BT 200.67 382.25 Td (. However) Tj ET Q q 0 0 0 rg BT 241.92 382.25 Td (, as a result of the interest rate swap agreements entered into with HSH ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Nordbank, these borrowings ef) Tj ET Q q 0 0 0 rg BT 173.68 370.25 Td (fectively bear interest at fixed rates ranging from 5.25% to 6.03%.) Tj ET Q q 0 0 0 rg BT 443.31 370.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.75 370.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.58 370.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td ($461.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 358.25 Td ( in variable rate debt that was not hedged with an interest rate swap. If interest rates were to increase by 1%, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (would incur an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.98 346.25 Td ($4.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.87 346.25 Td ( in interest expense. See Note 7 Debt Financing for more information concerning our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (outstanding debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (Item4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 310.25 Td (Controls and Procedures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.25 Td (In accordance with Exchange ) Tj ET Q q 0 0 0 rg BT 187.94 286.25 Td (Act Rules13a-15 and 15d-15, we carried out an evaluation, under the supervision and with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (the participation of management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 318.34 274.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 430.90 274.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 448.81 274.25 Td (, of the ef) Tj ET Q q 0 0 0 rg BT 486.95 274.25 Td (fectiveness of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, our Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.85 250.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 215.41 250.25 Td (ficer concluded that our disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 483.73 250.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 238.25 Td (, to provide reasonable assurance that information required to be disclosed in our reports filed or submitted under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (the Exchange ) Tj ET Q q 0 0 0 rg BT 106.09 226.25 Td (Act is \(i\)recorded, processed, summarized and reported within the time periods specified in the Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (Exchange Commission) Tj ET Q q 0 0 0 rg BT 145.27 214.25 Td (s rules and forms, and \(ii\)accumulated and communicated to our management, including our Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.85 202.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 215.41 202.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 233.32 202.25 Td (, as appropriate to allow timely decisions regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td (No change occurred in our internal controls over financial reporting \(asdefined in Rule13a-15\(f\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 527.27 178.25 Td (Act\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.52 166.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.35 166.25 Td ( that has materially af) Tj ET Q q 0 0 0 rg BT 292.80 166.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 474.21 166.25 Td (fect, our internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (controls over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.70 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 232.07 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 246.16 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 252.65 742.25 Td (IIOTHER INFORMA) Tj ET Q q 0 0 0 rg BT 359.69 742.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item 1. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 718.25 Td (Legal Proceedings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.25 Td (From time to time in the ordinary course of business, the Company or its subsidiaries may become subject to legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (proceedings, claims or disputes. ) Tj ET Q q 0 0 0 rg BT 179.98 682.25 Td (As of ) Tj ET Q q 0 0 0 rg BT 203.87 682.25 Td (August12, 2014, neither the Company nor any of its subsidiaries was a party to any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (material pending legal proceedings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Item1A. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 92.21 646.25 Td (Risk Factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 622.25 Td (W) Tj ET Q q 0 0 0 rg BT 78.96 622.25 Td (e are subject to a number of risks and uncertainties, which are discussed in Part I, Item 1A, Risk Factors in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.44 622.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.44 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Annual Report. ) Tj ET Q q 0 0 0 rg BT 113.97 610.25 Td (The risk factors set forth below reflect changes to the risk factors included in our 2013 ) Tj ET Q q 0 0 0 rg BT 461.65 610.25 Td (Annual Report.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Business and Real Estate Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 59.00 562.25 Td (Our success will be dependent on the performance of Hines as well as key employees of Hines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.25 Td (Our ability to achieve our investment objectives and to pay distributions is dependent upon the performance of Hines and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (its af) Tj ET Q q 0 0 0 rg BT 69.54 526.25 Td (filiates as well as key employees of Hines in the identification and acquisition of investments, the selection of tenants, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (determination of any financing arrangements, the management of our assets and operation of our day-to-day activities. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (board of directors and our ) Tj ET Q q 0 0 0 rg BT 155.80 502.25 Td (Advisor have broad discretion when identifying, evaluating and making investments with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (proceeds of our public of) Tj ET Q q 0 0 0 rg BT 150.34 490.25 Td (ferings and sales of other investments. Our stockholders will have no opportunity to evaluate the terms ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (of transactions or other economic or financial data concerning our investments. ) Tj ET Q q 0 0 0 rg BT 369.16 478.25 Td (W) Tj ET Q q 0 0 0 rg BT 377.79 478.25 Td (e will rely on the management ability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Hines and the oversight of our board of directors as well as the management of any entities or ventures in which we invest. ) Tj ET Q q 0 0 0 rg BT 543.57 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 552.21 466.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (may not be able to retain our key employees. For example, Charles N. Hazen, our former Chief Executive Of) Tj ET Q q 0 0 0 rg BT 486.34 454.25 Td (ficer and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (President, resigned from these positions ef) Tj ET Q q 0 0 0 rg BT 219.79 442.25 Td (fective March 15, 2013. Sherri ) Tj ET Q q 0 0 0 rg BT 344.84 442.25 Td (W) Tj ET Q q 0 0 0 rg BT 353.36 442.25 Td (. Schugart succeeded Mr) Tj ET Q q 0 0 0 rg BT 451.67 442.25 Td (. Hazen in these positions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (as of the same date. In connection with Ms. Schugart's new roles, Ms. Schugart resigned from her role as Chief Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 418.25 Td (ficer and this role has remained vacant following her resignation. In addition, Edmund ) Tj ET Q q 0 0 0 rg BT 407.77 418.25 Td (A. Donaldson, the former Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Investment Of) Tj ET Q q 0 0 0 rg BT 107.30 406.25 Td (ficer of the Company and of the general partner of our ) Tj ET Q q 0 0 0 rg BT 326.39 406.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 358.21 406.25 Td (, resigned from these positions ef) Tj ET Q q 0 0 0 rg BT 490.78 406.25 Td (fective July 1) Tj ET Q q 0 0 0 rg BT 544.28 406.25 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (2014. ) Tj ET Q q 0 0 0 rg BT 74.82 394.25 Td (T) Tj ET Q q 0 0 0 rg BT 80.23 394.25 Td (o the extent we are unable to retain and/or find qualified successors for key employees that depart the Company) Tj ET Q q 0 0 0 rg BT 526.65 394.25 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (results of operations may be adversely impacted. Our of) Tj ET Q q 0 0 0 rg BT 273.92 382.25 Td (ficers and the management of the ) Tj ET Q q 0 0 0 rg BT 408.86 382.25 Td (Advisor also serve in similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (capacities for numerous other entities. If Hines \(or any of its key employees\) is distracted by these other activities or suf) Tj ET Q q 0 0 0 rg BT 529.95 370.25 Td (fers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (from adverse financial or operational problems in connection with its operations unrelated to us, the ability of Hines and its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 346.25 Td (filiates to allocate time and/or resources to our operations may be adversely af) Tj ET Q q 0 0 0 rg BT 370.07 346.25 Td (fected. If Hines is unable to allocate suf) Tj ET Q q 0 0 0 rg BT 528.72 346.25 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (resources to oversee and perform our operations for any reason, our results of operations would be adversely impacted. ) Tj ET Q q 0 0 0 rg BT 528.55 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 537.19 334.25 Td (e will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (not provide key-man life insurance policies for any of Hines' key employees. Please see Potential Conflicts of Interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (Risks Employees of the ) Tj ET Q q 0 0 0 rg BT 159.16 310.25 Td (Advisor and Hines will face conflicts of interest relating to time management and allocation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (resources and investment opportunities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item 2.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 79.99 742.25 Td ( Unregistered Sales of Equity Securities and Use of Proceeds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.36 718.25 Td (June30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.19 718.25 Td (, we did not sell or issue any equity securities that were not registered under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (the Securities ) Tj ET Q q 0 0 0 rg BT 106.10 706.25 Td (Act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.25 Td (All eligible requests for redemption received by the Company for the three months ended March 31, 2014 were redeemed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (on ) Tj ET Q q 0 0 0 rg BT 61.95 670.25 Td (April 1, 2014. ) Tj ET Q q 0 0 0 rg BT 120.38 670.25 Td (The shares were redeemed using proceeds from our dividend reinvestment plan from the prior quarter and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (sales proceeds. ) Tj ET Q q 0 0 0 rg BT 112.29 658.25 Td (The following table lists shares we redeemed under our share redemption program during the period covered by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (this report.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.75 172.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 559.75 16.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 559.75 69.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 559.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 559.75 93.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 559.75 93.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 559.75 m 222.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 559.75 m 307.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 559.75 m 362.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 559.75 m 459.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 559.75 m 556.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 559.75 m 222.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 559.75 m 307.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 534.75 m 307.5 534.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 559.75 m 362.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 559.75 m 459.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 534.75 m 459.5 534.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 559.75 m 556.5 559.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 534.75 m 307.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 520.75 m 307.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 518.75 m 307.5 518.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 534.75 m 459.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 520.75 m 459.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 518.75 m 459.5 518.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 564.43 Td (Period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.55 594.43 Td (T) Tj ET Q q 0 0 0 rg BT 267.30 594.43 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.35 584.43 Td (Number) Tj ET Q q 0 0 0 rg BT 284.72 584.43 Td ( of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.10 574.43 Td (Shar) Tj ET Q q 0 0 0 rg BT 278.48 574.43 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.25 564.43 Td (Redeemed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.10 594.43 Td (A) Tj ET Q q 0 0 0 rg BT 325.58 594.43 Td (verage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.35 584.43 Td (Price) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.35 574.43 Td (Paid per) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.05 564.43 Td (Shar) Tj ET Q q 0 0 0 rg BT 344.43 564.43 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.55 614.43 Td (T) Tj ET Q q 0 0 0 rg BT 407.30 614.43 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.75 604.43 Td (Number) Tj ET Q q 0 0 0 rg BT 409.12 604.43 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 442.83 604.43 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.90 594.43 Td (Redeemed as Part ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.55 584.43 Td (of Publicly) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.20 574.43 Td (Announced Plans or) Tj ET Q q 0 0 0 rg BT 455.70 574.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.45 564.43 Td (Pr) Tj ET Q q 0 0 0 rg BT 401.82 564.43 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.30 604.43 Td (Maximum Number) Tj ET Q q 0 0 0 rg BT 550.61 604.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.85 594.43 Td (of Shar) Tj ET Q q 0 0 0 rg BT 500.06 594.43 Td (es that May ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.80 584.43 Td (Y) Tj ET Q q 0 0 0 rg BT 478.91 584.43 Td (et be Redeemed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.25 574.43 Td (Under) Tj ET Q q 0 0 0 rg BT 496.29 574.43 Td ( the Plans or) Tj ET Q q 0 0 0 rg BT 549.72 574.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.40 564.43 Td (Pr) Tj ET Q q 0 0 0 rg BT 493.77 564.43 Td (ograms ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 527.93 568.96 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.42 Td (April 1, 2014 through June 30, 2014) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 225.00 544.58 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 539.42 Td (1,807,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 539.42 Td (5.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 539.42 Td (1,807,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 539.42 Td (876,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 524.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 524.42 Td (1,807,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 524.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 524.42 Td (1,807,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 524.42 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 496.25 Td (All shares were redeemed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.01 496.25 Td (April) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.12 496.25 Td ( 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.62 496.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.62 496.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 472.25 Td (This amount represents the number of shares available for redemption on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.19 472.25 Td (July) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.86 472.25 Td ( 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.36 472.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.36 472.25 Td (. Please see Item 2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 460.25 Td (Management) Tj ET Q q 0 0 0 rg BT 140.98 460.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 210.15 460.25 Td (Analysis of Financial Condition and Results of Operations Financial Condition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 448.25 Td (Liquidity and Capital Resources Cash Flows from Financing ) Tj ET Q q 0 0 0 rg BT 343.48 448.25 Td (Activities for additional information on the re-opening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 436.25 Td (and amendment and restatement of our share redemption program ef) Tj ET Q q 0 0 0 rg BT 359.88 436.25 Td (fective in ) Tj ET Q q 0 0 0 rg BT 399.31 436.25 Td (April 2013. ) Tj ET Q q 0 0 0 rg BT 450.24 436.25 Td (The funds available for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 424.25 Td (redemption are generally limited to the amount of proceeds received from our dividend reinvestment plan. However) Tj ET Q q 0 0 0 rg BT 549.88 424.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 412.25 Td (our board of directors may approve requests for redemptions in excess of this amount, as long as the total amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.25 Td (redeemed does not exceed the amount required to redeem 10% of our shares outstanding as of the same date in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 388.25 Td (prior calendar year) Tj ET Q q 0 0 0 rg BT 160.96 388.25 Td (. In the event of a redemption request in connection with the death or disability of a stockholder) Tj ET Q q 0 0 0 rg BT 543.22 388.25 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.25 Td (may waive the annual limitation on the number of shares that will be redeemed.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (Item 3. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 352.25 Td (Defaults Upon Senior Securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (Item 4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 304.25 Td (Mine Safety Disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (Item 5. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 256.25 Td (Other Information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (Item6. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 208.25 Td (Exhibits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 184.25 Td (The exhibits required by this item are set forth on the ExhibitIndex attached hereto.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.85 742.25 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.78 742.25 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 294.05 718.25 Td (Act of 1934, the registrant has duly caused this report to be signed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (on its behalf by the undersigned thereunto duly authorized.) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 640.75 m 461.5 640.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 567.75 m 461.5 567.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 674.32 Td (HINES REAL ESTATE INVESTMENT TRUST, INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.32 Td (August 26, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 646.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 646.32 Td (/s/ SHERRI W. SCHUGART) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 631.32 Td (Sherri W. Schugart) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 616.32 Td (President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.32 Td (August 26, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 573.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 573.32 Td (/s/RYAN T. SIMS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 558.32 Td (Ryan T. Sims) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 543.32 Td (Chief Financial Officer and Secretary) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.30 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 309.91 742.25 Td ( INDEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 730.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.75 45.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 695.75 16.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 695.75 426.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.75 45.00 -75.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 635.75 16.00 -75.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 635.75 426.00 -75.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 545.75 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 545.75 426.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 495.75 45.00 -65.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 495.75 16.00 -65.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 495.75 426.00 -65.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 695.75 m 95.5 695.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 111.5 695.75 m 537.5 695.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.65 710.43 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.10 700.43 Td (No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.00 700.43 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 686.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 685.42 Td (Second Amended and Restated Articles of Incorporation of Hines Real Estate Investment Trust, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 675.42 Td (\(filed as Exhibit3.1 to the registrants Current Report on Form 8-K on July 13, 2007 and incorporated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 665.42 Td (by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 651.32 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 650.42 Td (Second Amended and Restated Bylaws of Hines Real Estate Investment Trust, Inc. \(filed as Exhibit3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 640.42 Td (to the registrants Current Report on Form8-K on August 3, 2006 and incorporated by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 626.32 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 625.42 Td (Credit Agreement, dated as of April 1, 2014, among Hines REIT Properties, L.P. and the Lenders party) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 615.42 Td (thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, Wells Fargo Bank, National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 605.42 Td (as Syndication Agent, BMO Harris Bank N.A., Capital One, National Association, PNC Bank, National) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 595.42 Td (Association, RBS Citizens, N.A., Regions Bank, Sumitomo Mitsui Banking Corporation, Suntrust Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 585.42 Td (and U.S. Bank National Association, as Co-Documentation Agents, and J.P. Morgan Securities LLC and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 575.42 Td (Wells Fargo Securities, LLC, as Joint Bookrunners and Joint Lead Arrangers \(filed as Exhibit 10.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 565.42 Td (registrant's Current Report on Form 8-K on April 7, 2014 and incorporated by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 550.42 Td (31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 550.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 550.42 Td (Certification.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 535.42 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 535.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 535.42 Td (Certification.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 521.32 Td (32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 521.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 520.42 Td (Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18U.S.C.,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 510.42 Td (Section1350, as adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Pursuant to SEC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 500.42 Td (Release 34-47551 this Exhibit is furnished to the SEC herewith and shall not be deemed to be filed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 486.32 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 486.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 485.42 Td (The following materials from Hines Real Estate Investment Trust, Inc.s Quarterly Report on Form 10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 475.42 Td (for the quarter ended June 30, 2014 \(as amended\), filed on August 26, 2014, formatted in XBRL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 465.42 Td (\(eXtensible Business Reporting Language\): \(i\) Condensed Consolidated Balance Sheets, \(ii\) Condensed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 455.42 Td (Consolidated Statements of Operations and Comprehensive Income \(Loss\), \(iii\) Condensed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 445.42 Td (Consolidated Statements of Equity, \(iv\) Condensed Consolidated Statements of Cash Flows, and \(v\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 435.42 Td (Notes to the Condensed Consolidated Financial Statements.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 Td (__________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 387.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 387.32 Td (Filed herewith) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 541.96 742.25 Td (31.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.70 718.25 Td (CER) Tj ET Q q 0 0 0 rg BT 286.46 718.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 320.72 718.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.05 706.25 Td (PURSUANT) Tj ET Q q 0 0 0 rg BT 284.32 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.64 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 293.13 706.25 Td (O SECTION302 OF) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.55 694.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 333.04 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 334.99 694.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 355.92 694.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 371.93 694.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (I, Sherri ) Tj ET Q q 0 0 0 rg BT 85.09 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 93.61 670.25 Td (. Schugart, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.25 Td (I have reviewed this quarterly report on Form 10-Q/A) Tj ET Q q 0 0 0 rg BT 300.94 646.25 Td ( of Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 434.61 646.25 Td (T) Tj ET Q q 0 0 0 rg BT 440.37 646.25 Td (rust, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (for) Tj ET Q q 0 0 0 rg BT 97.26 550.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 526.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 526.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 247.60 514.25 Td (Act Rules13a-15\(e\) and 15d-15\(e\)\) and internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.25 Td (reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 223.45 502.25 Td (Act Rules13a-15\(f\) and 15d-15\(f\)\) for the Registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 478.25 Td (designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.25 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 442.25 Td (in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 418.25 Td (designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 406.25 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 394.25 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 382.25 Td (generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 358.25 Td (c. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 358.25 Td (evaluated the ef) Tj ET Q q 0 0 0 rg BT 185.12 358.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 298.13 358.25 Td (s disclosure controls and procedures and presented in this report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 346.25 Td (our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 234.57 346.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 334.25 Td (covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 310.25 Td (d. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 310.25 Td (disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 328.61 310.25 Td (s internal control over financial reporting that occurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 298.25 Td (during the registrant) Tj ET Q q 0 0 0 rg BT 205.87 298.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 374.69 298.25 Td (s fourth fiscal quarter in the case of an annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 286.25 Td (report\) that has materially af) Tj ET Q q 0 0 0 rg BT 235.66 286.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 417.07 286.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 492.32 286.25 Td (s internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 274.25 Td (over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 250.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 250.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 250.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.25 Td (over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 250.94 238.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 457.00 238.25 Td (s board of directors \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (persons performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 202.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 202.25 Td (all significant deficiencies and material weaknesses in the design or operation of internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 190.25 Td (financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 370.05 190.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 442.80 190.25 Td (s ability to record, process, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 178.25 Td (summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 154.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 154.25 Td (any fraud, whether or not material, that involves management or other employees who have a significant role ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 142.25 Td (in the registrant) Tj ET Q q 0 0 0 rg BT 187.54 142.25 Td (s internal control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td () Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 104.75 m 461.5 104.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.32 Td (August 26, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.00 110.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 110.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 110.32 Td (/s/ SHERRI W. SCHUGART) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 110.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 95.32 Td (Sherri W. Schugart) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 80.32 Td (President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 541.96 742.25 Td (31.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.70 718.25 Td (CER) Tj ET Q q 0 0 0 rg BT 286.46 718.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 320.72 718.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.05 706.25 Td (PURSUANT) Tj ET Q q 0 0 0 rg BT 284.32 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.64 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 293.13 706.25 Td (O SECTION302 OF) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.55 694.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 333.04 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 334.99 694.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 355.92 694.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 371.93 694.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (I, R) Tj ET Q q 0 0 0 rg BT 64.60 670.25 Td (yan ) Tj ET Q q 0 0 0 rg BT 81.36 670.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.72 670.25 Td (. Sims, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.25 Td (I have reviewed this quarterly report on Form 10-Q/A) Tj ET Q q 0 0 0 rg BT 300.94 634.25 Td ( of Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 434.61 634.25 Td (T) Tj ET Q q 0 0 0 rg BT 440.37 634.25 Td (rust, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.25 Td (for) Tj ET Q q 0 0 0 rg BT 97.26 538.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 514.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 514.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.25 Td (and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 247.60 502.25 Td (Act Rules13a-15\(e\) and 15d-15\(e\)\) and internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.25 Td (reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 223.45 490.25 Td (Act Rules13a-15\(f\) and 15d-15\(f\)\) for the Registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.25 Td (designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 442.25 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 430.25 Td (in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 406.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 406.25 Td (designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 394.25 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 382.25 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 370.25 Td (generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.25 Td (c. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 346.25 Td (evaluated the ef) Tj ET Q q 0 0 0 rg BT 185.12 346.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 298.13 346.25 Td (s disclosure controls and procedures and presented in this report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 334.25 Td (our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 234.57 334.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 322.25 Td (covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 298.25 Td (d. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 298.25 Td (disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 328.61 298.25 Td (s internal control over financial reporting that occurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 286.25 Td (during the registrant) Tj ET Q q 0 0 0 rg BT 205.87 286.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 374.69 286.25 Td (s fourth fiscal quarter in the case of an annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 274.25 Td (report\) that has materially af) Tj ET Q q 0 0 0 rg BT 235.66 274.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 417.07 274.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 492.32 274.25 Td (s internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 262.25 Td (over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 238.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 238.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 250.94 226.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 457.00 226.25 Td (s board of directors \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (persons performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 190.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 190.25 Td (all significant deficiencies and material weaknesses in the design or operation of internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 178.25 Td (financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 370.05 178.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 442.80 178.25 Td (s ability to record, process, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 166.25 Td (summarize and report financial information; 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