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Consolidated Statements Of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES    
Net income $ 14,051 $ 6,363
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (731) 361
Depreciation and amortization 26,767 14,739
Amortization of debt issuance costs and debt fair value adjustments 1,895 317
Early extinguishment of debt 25,867  
Loan transfer and consent fees 9,019  
Gain on acquisition of controlling interests (46,371) (4,297)
Stock-based compensation expense 1,190  
Loss from real estate joint ventures 188 2,890
Distribution of earnings from real estate joint ventures   3,354
Other, net 935 254
Changes in operating assets and liabilities    
Change in restricted cash (211) (47)
Change in accounts receivable (1,510) 944
Change in prepaid expenses and other assets 112 653
Change in accounts payable and accrued expenses (1,467) (488)
Change in security deposits and other liabilities (1,027) (35)
Net cash provided by operating activities 28,707 25,008
INVESTING ACTIVITIES    
Acquisition of real estate, net of cash acquired (128,877) (19,718)
Deposit on property acquisition (91,600)  
Capital expenditures (2,814) (2,351)
Change in restricted cash (1,359) 16
Cash acquired from acquisition of controlling interests in real estate joint ventures 15,222  
Leasing commissions (871) (776)
Purchase of marketable securities (33,103)  
Maturity of marketable securities 1,710  
Distribution of capital from real estate joint ventures   10,607
Issuance of notes receivable to affiliate   (800)
Net cash used in investing activities (241,692) (13,022)
FINANCING ACTIVITIES    
Issuance of secured notes payable 84,500 7,500
Repayment of secured notes payable (262,003) (9,053)
Defeasance costs on repayment of secured notes payable (24,345)  
Loan transfer and consent fees paid (8,350)  
Issuance of unsecured notes payable   23,000
Repayment of unsecured notes payable (38,013) (2,382)
Repayment of notes payable to affiliates (19,279) (1,171)
Debt issuance costs (2,961) (365)
Proceeds from issuance of common stock, net 596,541  
Proceeds from private placement of common units 5,410  
Dividends paid to common stock and unitholders (21,898)  
Payments to nonaccredited investors (6,075)  
Distributions to Predecessor's controlling and non-controlling interests (39,960) (22,112)
Net cash provided by (used in) financing activities 263,567 (4,583)
Net increase in cash and cash equivalents 50,582 7,403
Cash and cash equivalents, beginning of period 41,953 24,189
Cash and cash equivalents, end of period $ 92,535 $ 31,592