Components Of Rental Income And Expense

12 Months Ended

Dec. 31, 2011

Components Of Rental Income And Expense [Abstract]

Components Of Rental Income And Expense

NOTE 14. COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows (in thousands):

	Year Ended December 31,
	2011		2010		2009
Minimum rents
Retail	$	63,996	$	57,509	$	57,332
Office		57,979		28,158		18,995
Multifamily		13,246		13,076		13,361
Mixed-Use		8,478		—		—
Cost reimbursement		25,483		19,611		16,845
Percentage rent		1,967		1,217		1,184
Hotel revenue		27,125		—		—
Other		1,467		1,178		931
Total rental income	$	199,741	$	120,749	$	108,648

Minimum rents include $5.1 million, $0.2 million and $0.8 million for the years ended December 31, 2011, 2010 and 2009, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $(2.5) million, $(2.3) million and $(1.4) million for the years ended December 31, 2011, 2010 and 2009, respectively, to recognize the amortization of above and below market leases.

The principal components of rental expenses are as follows (in thousands):

	Year Ended December 31,
	2011		2010		2009
Rental operating	$	23,196	$	13,523	$	11,435
Hotel operating		18,885		—		—
Repairs and maintenance		8,687		5,607		5,950
Marketing		1,401		682		777
Rent		2,767		1,192		—
Hawaii excise tax		3,379		1,057		1,044
Management fees		1,622		89		194
Total rental expenses	$	59,937	$	22,150	$	19,400