Partners' Equity

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Note [Abstract]

Partners' Capital Notes Disclosure [Text Block]

6. Partners' Equity

In March 2012, the General Partner redeemed all of the outstanding shares of its 6.95% Series M Cumulative Redeemable Preferred Shares at a liquidation amount of $168.3 million. We also redeemed the corresponding Preferred Units held by the General Partner at the same price. Original offering costs of $5.7 million were included as a reduction to net loss attributable to common unitholders in conjunction with the redemption of these shares and the corresponding Preferred Units.

In the first three months of 2012, the General Partner issued 10.8 million shares of common stock pursuant to its at the market offering, generating net proceeds of approximately $147.0 million. The General Partner paid $3.0 million in commissions related to the sale of these common shares. The proceeds from this offering were contributed to us in exchange for additional General Partner Units and were used for acquisitions, general corporate purposes and redemption of Preferred Units and fixed rate secured debt.