Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
REVENUES:
Rental property revenues	$ 36,736	$ 35,969	$ 72,884	$ 70,742
Fee income	3,435	3,728	6,820	7,272
Third party management and leasing revenues	4,605	4,485	8,693	9,279
Multi-family residential unit sales	7	7,943	4,664	18,089
Residential lot and outparcel sales	80	316	245	14,135
Other	556	171	1,069	295
Total revenues	45,419	52,612	94,375	119,812
COSTS AND EXPENSES:
Rental property operating expenses	15,472	15,246	29,720	29,777
Third party management and leasing expenses	4,080	4,214	8,173	9,172
Multi-family residential unit cost of sales	(13)	6,108	2,487	14,078
Residential lot and outparcel cost of sales	76	275	145	9,371
General and administrative expenses	6,133	6,763	13,533	14,780
Interest expense	7,358	10,286	14,902	20,067
Reimbursed expenses	1,371	1,398	2,883	3,257
Depreciation and amortization	13,375	14,231	26,850	27,407
Impairment loss		586	3,508	586
Separation expenses	77	33	178	101
Other	672	3,002	1,534	3,864
Total costs and expenses	48,601	62,142	103,913	132,460
LOSS ON EXTINGUISHMENT OF DEBT				(592)
LOSS FROM CONTINUING OPERATIONS BEFORE TAXES, UNCONSOLIDATED JOINT VENTURES AND SALE OF INVESTMENT PROPERTIES	(3,182)	(9,530)	(9,538)	(13,240)
(PROVISION) BENEFIT FOR INCOME TAXES FROM OPERATIONS	(27)	(14)	37	1,132
INCOME FROM UNCONSOLIDATED JOINT VENTURES	2,312	2,394	4,808	5,314
LOSS FROM CONTINUING OPERATIONS BEFORE GAIN ON SALE OF INVESTMENT PROPERTIES	(897)	(7,150)	(4,693)	(6,794)
GAIN ON SALE OF INVESTMENT PROPERTIES	59	1,061	118	1,817
LOSS FROM CONTINUING OPERATIONS	(838)	(6,089)	(4,575)	(4,977)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS:
Income from discontinued operations	40	1,305	112	2,373
Loss on sale of investment properties			(384)
Total income (loss) from discontinued operations	40	1,305	(272)	2,373
NET LOSS	(798)	(4,784)	(4,847)	(2,604)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(681)	(584)	(1,262)	(1,110)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST	(1,479)	(5,368)	(6,109)	(3,714)
DIVIDENDS TO PREFERRED STOCKHOLDERS	(3,227)	(3,227)	(6,454)	(6,454)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS	$ (4,706)	$ (8,595)	$ (12,563)	$ (10,168)
PER COMMON SHARE INFORMATION - BASIC AND DILUTED:
Loss from continuing operations attributable to controlling interest	$ (0.05)	$ (0.10)	$ (0.12)	$ (0.12)
Income from discontinued operations		$ 0.01		$ 0.02
Net loss available to common stockholders - basic and diluted	$ (0.05)	$ (0.09)	$ (0.12)	$ (0.10)
WEIGHTED AVERAGE SHARES - BASIC AND DILUTED	103,659	101,001	103,588	100,538
DIVIDENDS DECLARED PER COMMON SHARE	$ 0.045	$ 0.09	$ 0.09	$ 0.18