Risk Management and Use of Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Risk Management and Use of Derivative Financial Instruments

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Derivatives Designated			Asset Derivatives Fair Value at				Liability Derivatives Fair Value at
as Hedging Instruments		Balance Sheet Location	December 31, 2012		December 31, 2011		December 31, 2012		December 31, 2011
Interest rate cap		Other assets, net		25		-		-		-
Foreign currency contracts		Accounts payable, accrued
		expenses and other liabilities		-		-		(2,067)		-
Interest rate swaps		Accounts payable, accrued		-		-		(5,825)		(4,175)
		expenses and other liabilities
Derivatives Not Designated
as Hedging Instruments
Stock warrants	(a)	Other assets, net		1,720		-		-		-
Interest rate swaps	(a)	Accounts payable, accrued
		expenses and other liabilities		-		-		(16,686)		-
Total derivatives			$	1,745	$	-	$	(24,578)	$	(4,175)

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

	Amount of Gain (Loss) Recognized in
	Other Comprehensive Income on Derivatives (Effective Portion)
	Years Ended December 31,
Derivatives in Cash Flow Hedging Relationships	2012		2011		2010
Interest rate swaps	$	(1,059)	$	(3,564)	$	(45)
Interest rate cap		277		-		-
Foreign currency contracts		(1,480)		-		-
Total	$	(2,262)	$	(3,564)	$	(45)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

	Amount of Gain (Loss) Reclassified from Other Comprehensive Income
	into Income (Effective Portion)
	Years Ended December 31,
Derivatives in Cash Flow Hedging Relationships	2012		2011		2010
Interest rate swaps	$	(1,442)	$	-	$	-
Foreign currency contracts		(186)
Total	$	(1,628)	$	-	$	-

		Amount of Gain (Loss) Recognized in
		Income on Derivatives
	Location of Gain (Loss)	Years Ended December 31,
Derivatives Not in Cash Flow Hedging Relationships	Recognized in Income	2012		2011		2010
Interest rate swaps	Other income and (expenses)	$	429	$	-	$	-
Stock warrants	Other income and (expenses)		108		-		-
Total		$	537	$	-	$	-

Schedule of Derivative Instruments

		Notional		Effective	Effective	Expiration	Fair Value at
Description	Type	Amount		Interest Rate	Date	Date	December 31, 2012
3-Month Euro Interbank Offering Rate (“Euribor”)	Interest rate cap	€	69,457	2.0%	12/2012	12/2014	$	25
3-Month Euribor	“Pay-fixed” swap	€	6,286	4.2%	3/2008	3/2018		(1,392)
1-Month LIBOR	“Pay-fixed” swap	$	33,631	3.0%	7/2010	7/2020		(3,624)
1-Month LIBOR	“Pay-fixed” swap	$	25,714	3.9%	8/2012	8/2022		(403)
1-Month LIBOR	“Pay-fixed” swap	$	6,905	4.4%	6/2012	3/2022		(122)
1-Month LIBOR	“Pay-fixed” swap	$	4,414	3.0%	4/2010	4/2015		(247)
1-Month LIBOR	“Pay-fixed” swap	$	3,500	3.7%	12/2012	2/2019		(37)
							$	(5,800)

			Notional		Effective	Effective	Expiration	Fair Value at
Description	(a) (c)	Type	Amount		Interest Rate	Date	Date	December 31, 2012
3-Month Euribor		“Pay-fixed” swap	€	100,000	3.7%	7/2006	7/2016	$	(15,462)
3-Month Euribor		“Pay-fixed” swap	€	15,970	0.9%	4/2012	7/2013		(86)
3-Month Euribor		“Pay-fixed” swap	€	6,975	4.4%	4/2008	10/2015		(523)
3-Month Euribor		“Pay-fixed” swap	€	5,479	4.3%	4/2007	7/2016		(615)
								$	(16,686)

		Ownership
		Interest at		Notional				Effective	Expiration	Fair Value at
Description		December 31, 2012	Type	Amount		Cap Rate	Spread	Date	Date	December 31, 2012
3-Month LIBOR	(a)	17.8%	Interest rate cap	$	119,185	4.0%	4.8%	8/2009	8/2014	$	1
1-Month LIBOR	(b)	79.0%	Interest rate cap		17,275	3.0%	4.0%	9/2009	4/2014		-
										$	1

	Notional		Strike		Effective	Expiration	Fair Value at
Type	Amount		Price		Date	Date	December 31, 2012
Foreign currency forward contracts	€	50,648	$	1.27 - 1.30	5/2012	3/2013 - 6/2017	$	(2,051)
Foreign currency forward contracts	€	8,700	$	1.34 - 1.35	12/2012	9/2017 - 3/2018		(16)
							$	(2,067)

Portfolio Concentration Risk

		December 31, 2012
Region:
California		10%
Other U.S.		62%
	Total U.S	72%
	Total Europe	28%
	Total	100%
Asset Type:
Office		29%
Industrial		19%
Warehouse/Distribution		15%
Retail		14%
Self storage		10%
All others		13%
	Total	100%
Tenant Industry:
Retail		20%
All other		80%
		100%
Aerospace and Defense