OTHER ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2013

OTHER ASSETS AND LIABILITIES

Summary of the significant components of Prepaid expenses and other assets:

	March 31,		December 31,
	2013		2012
	(In thousands)
Special Improvement District receivable	$	39,666	$	39,659
Other receivables	829		2,346
Federal income tax receivable	5,580		5,367
Prepaid expenses	6,497		4,757
Below-market ground leases	20,256		20,341
Condominium deposits	33,349		19,616
Security and escrow deposits	10,356		12,865
Above-market tenant leases	1,981		1,896
Uncertain tax position asset	13,528		12,801
In-place leases	10,336		11,516
Intangibles	3,714		3,714
Other	8,145		8,592
	$	154,237	$	143,470

Summary of the significant components of Accounts payable and accrued expenses:

	March 31,		December 31,
	2013		2012
	(In thousands)
Construction payable	$	18,249	$	17,501
Accounts payable and accrued expenses	52,504		39,634
Condominium deposits	33,349		19,616
Membership deposits	21,166		20,248
Above-market ground leases	2,550		2,590
Deferred gains/income	7,445		7,767
Accrued interest	2,368		2,425
Accrued real estate taxes	3,883		6,622
Tenant and other deposits	9,906		8,096
Insurance reserve	4,876		9,037
Accrued payroll and other employee liabilities	5,889		11,514
Interest rate swaps	6,691		7,183
Special assessment	2,868		2,868
Other	16,098		15,420
	$	187,842	$	170,521