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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Rental Income $ 58,667 $ 54,516 $ 169,496 $ 161,348
Tenant Recoveries and Other Income 18,259 15,498 56,414 48,736
Total Revenues 76,926 70,014 225,910 210,084
Expenses:        
Property Expenses 24,646 22,499 76,077 68,820
General and Administrative 5,345 5,131 17,946 16,975
Impairment of Real Estate 0 1,047 0 1,047 [1]
Depreciation and Other Amortization 25,029 24,119 75,237 71,086
Total Expenses 55,020 52,796 169,260 157,928
Other Income (Expense):        
Interest Income 700 611 2,114 1,818
Interest Expense (16,178) (16,918) (51,522) (51,850)
Amortization of Deferred Financing Costs (716) (736) (2,235) (2,326)
Mark-to-Market Gain on Interest Rate Protection Agreements 0 0 0 52
Loss from Retirement of Debt (29) (662) (522) (6,034)
Total Other Income (Expense) (16,223) (17,705) (52,165) (58,340)
Income (Loss) from Continuing Operations Before Equity in Income of Other Real Estate Partnerships, Equity in (Loss) Income of Joint Ventures and Income Tax Provision 5,683 (487) 4,485 (6,184)
Equity in Income of Other Real Estate Partnerships 4,775 4,546 10,385 9,117
Equity in (Loss) Income of Joint Ventures (14) 72 3,508 119
Income Tax Provision (103) (63) (192) (4)
Income from Continuing Operations 10,341 4,068 18,186 3,048
Discontinued Operations:        
Income Attributable to Discontinued Operations 300 836 1,046 1,452
Gain on Sale of Real Estate 11,577 3,613 12,291 14,020
Income from Discontinued Operations 11,877 4,449 13,337 15,472
Income Before Gain on Sale of Real Estate 22,218 8,517 31,523 18,520
Gain on Sale of Real Estate 0 221 0 483
Net Income 22,218 8,738 31,523 19,003
Less: Preferred Unit Distributions 0 (1,392) (1,019) (7,506)
Less: Redemption of Preferred Units 0 (2,121) (1,462) (5,667)
Net Income Available to Unitholders and Participating Securities 22,218 5,225 29,042 5,830
Basic and Diluted Earnings Per Unit:        
Income (Loss) from Continuing Operations Available to Unitholders $ 0.09 $ 0.00 $ 0.14 $ (0.09)
Income from Discontinued Operations Attributable to Unitholders $ 0.10 $ 0.04 $ 0.11 $ 0.14
Net Income Available to Unitholders $ 0.19 $ 0.04 $ 0.25 $ 0.05
Distributions Per Unit $ 0.1025 $ 0.085 $ 0.3075 $ 0.255
Weighted Average Units Outstanding - Basic 114,512 114,089 114,346 110,823
Weighted Average Units Outstanding - Diluted 114,711 114,404 114,788 110,823
Net Income Available to Unitholders Attributable to:        
General Partner 21,350 5,006 27,905 5,586
Limited Partners 868 219 1,137 244
Net Income Available to Unitholders and Participating Securities $ 22,218 $ 5,225 $ 29,042 $ 5,830
[1] Excludes industrial properties for which impairment of $1,605 was recorded during the nine months ended September 30, 2013 since the related assets were sold or recorded at carrying value, which is lower than estimated fair value at September 30, 2013.