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Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES:        
Rental property revenues $ 38,729 $ 28,922 $ 73,477 $ 57,221
Fee income 2,931 2,786 6,511 5,642
Land sales 433 535 1,396 1,484
Other 2,065 253 2,668 1,526
Total consolidated revenues 44,158 32,496 84,052 65,873
COSTS AND EXPENSES:        
Rental property operating expenses 18,576 12,521 34,406 24,370
Reimbursed expenses 1,359 1,357 3,268 2,732
Land cost of sales 433 416 1,396 980
General and administrative expenses 4,552 5,644 10,622 12,267
Interest expense 4,241 5,875 9,176 12,143
Depreciation and amortization 15,450 9,783 27,240 19,796
Separation expenses 0 79 0 292
Other 631 566 1,358 1,246
Total costs and expenses 45,242 36,241 87,466 73,826
LOSS ON EXTINGUISHMENT OF DEBT 0 0 0 (94)
LOSS FROM CONTINUING OPERATIONS BEFORE TAXES, UNCONSOLIDATED JOINT VENTURES AND SALE OF INVESTMENT PROPERTIES (1,084) (3,745) (3,414) (8,047)
PROVISION FOR INCOME TAXES FROM OPERATIONS (1) (33) (2) (60)
INCOME FROM UNCONSOLIDATED JOINT VENTURES 1,132 9,762 2,784 11,948
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE GAIN ON SALE OF INVESTMENT PROPERTIES 47 5,984 (632) 3,841
GAIN ON SALE OF INVESTMENT PROPERTIES 406 29 57,583 86
INCOME FROM CONTINUING OPERATIONS 453 6,013 56,951 3,927
INCOME (LOSS) FROM DISCONTINUED OPERATIONS:        
Income (loss) from discontinued operations 280 3,543 593 (5,811)
Gain on sale of investment properties 86 674 181 760
Total income from discontinued operations 366 4,217 774 (5,051)
NET INCOME (LOSS) 819 10,230 57,725 (1,124)
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (515) (602) (1,022) 867
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST 304 9,628 56,703 (257)
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs (2,656) 0 (2,656) 0
DIVIDENDS TO PREFERRED STOCKHOLDERS (3,227) (3,227) (6,454) (6,454)
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ (5,579) $ 6,401 $ 47,593 $ (6,711)
PER COMMON SHARE INFORMATION - BASIC AND DILUTED:        
Income (loss) from continuing operations attributable to controlling interest $ (0.05) $ 0.02 $ 0.42 $ (0.01)
Income (loss) from discontinued operations $ 0.00 $ 0.04 $ 0.01 $ (0.05)
Net income (loss) available to common stockholders $ (0.05) $ 0.06 $ 0.43 $ (0.06)
WEIGHTED AVERAGE SHARES — BASIC 118,661 104,165 111,430 104,082
WEIGHTED AVERAGE SHARES — DILUTED 118,661 104,165 111,593 104,082
Common Stock, Dividends, Per Share, Declared $ 0.045 $ 0.045 $ 0.09 $ 0.09