Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

18.     Subsequent Events

In October 2011, we declared the following dividends, which are payable in November 2011:

-   $0.1451875 per share to our common stockholders;

-   $0.1536459 per share to our Class D preferred stockholders; and

-   $0.140625 per share to our Class E preferred stockholders.

In October 2011, Friendly Ice Cream Corporation, or Friendly's, one of our tenants, filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. Friendly's leases 121 properties from us that, as of September 30, 2011, represented 3.6% of our rental revenue. Friendly's rejected 15 of the 121 locations in October 2011.  We do not anticipate that this filing will have a material impact on our operations and financial position, or on our ability to pay and increase the amount of the monthly dividend.

Additionally, the principal balance of one note receivable issued in connection with a Crest property sale was paid in full during October 2011.  We received proceeds of approximately $2.9 million from this transaction.