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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Real Estate:    
Land $ 345,473 $ 253,413
Buildings and improvements 270,381 251,174
Total real estate 615,854 504,587
Less - accumulated depreciation and amortization (137,117) (144,217)
Real estate, net 478,737 360,370
Net investment in direct financing leases 92,632 20,540
Deferred rent receivable (net of allowance of $25,630 at December 31, 2011 and $8,170 at December 31, 2010) 8,080 27,385
Cash and cash equivalents 7,698 6,122
Other receivables, net 1,089 567
Notes, mortgages and accounts receivable (net of allowance of $9,480 at December 31, 2011 and $361 at December 31, 2010) 36,083 1,525
Prepaid expenses and other assets 10,770 6,669
Total assets 635,089 423,178
LIABILITIES AND SHAREHOLDERS' EQUITY:    
Borrowings under credit line 147,700 41,300
Term loan 22,810 23,590
Environmental remediation costs 57,700 10,908
Dividends payable 0 14,432
Accounts payable and accrued liabilities 34,710 18,013
Total liabilities 262,920 108,243
Commitments and contingencies (notes 2, 3, 5 and 6)      
Shareholders' equity:    
Common stock, par value $.01 per share; authorized 50,000,000 shares; issued 33,394,395 at December 31, 2011 and 29,944,155 at December 31, 2010 334 299
Paid-in capital 460,687 368,093
Dividends paid in excess of earnings (88,852) (52,304)
Accumulated other comprehensive loss 0 (1,153)
Total shareholders' equity 372,169 314,935
Total liabilities and shareholders equity $ 635,089 $ 423,178