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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,154 $ 759
Adjustments to reconcile net loss to net cash provided by operating activities:    
Gain on sales of investment properties and other, net, including discontinued operations (8,350) (2,614)
Loss on extinguishment of debt 94 74
Impairment losses 12,721 3,508
Depreciation and amortization, including discontinued operations 41,148 40,283
Amortization of deferred financing costs 784 1,480
Stock-based compensation 1,422 1,683
Effect of recognizing rental revenues on a straight-line or market basis (3,056) (5,302)
INCOME FROM UNCONSOLIDATED JOINT VENTURES (14,217) (7,468)
Operating distributions from unconsolidated joint ventures 12,065 7,416
Residential lot and multi-family cost of sales, net of closing costs paid 1,385 2,547
Residential lot development expenditures (51) (818)
Changes in other operating assets and liabilities:    
Change in other receivables and other assets (2,069) (1,015)
Change in accounts payable and accrued liabilities (1,619) (2,052)
Net cash provided by operating activities 52,411 38,481
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales 73,052 69,615
Property acquisition, development and tenant asset expenditures (94,118) (34,700)
Investment in unconsolidated joint ventures (6,571) (13,885)
Distributions from unconsolidated joint ventures 25,767 5,403
Collection of Notes Receivable 1,156 348
Change in other assets (2,733) (3,210)
Change in restricted cash 2,180 10,007
Net cash provided by (used in) investing activities (1,267) 33,578
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 414,200 98,850
Repayments of credit facility (518,950) (84,450)
Proceeds from notes payable and construction facilities 111,632 0
Repayment of notes payable (27,694) (58,401)
Payment of loan issuance costs (3,419) (442)
Common stock issued, net of expenses 0 18
Common dividends paid (14,064) (13,982)
Preferred dividends paid (9,680) (9,680)
Contributions from noncontrolling interests 0 1,300
Distributions to noncontrolling interests (2,558) (7,237)
Net cash used in financing activities (50,533) (74,024)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 611 (1,965)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 4,858 7,599
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,469 5,634
INTEREST PAID, NET OF AMOUNTS CAPITALIZED 17,320 19,679
INCOME TAXES REFUNDED 0 377
Transfer from Other Assets to investment in Unconsolidated Joint Ventures 0 6,050
Transfer from operating properties to operating properties and related assets held for sale $ 174,054 $ 0