Deferred Costs

12 Months Ended

Dec. 31, 2011

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

DEFERRED COSTS

DEFERRED COSTS

As of December 31, 2011 and 2010, the Company’s deferred costs were comprised of the following (in thousands):

	December 31, 2011
	Total Cost		Accumulated Amortization			Deferred Costs, net
Leasing Costs	$	140,772	$	(50,990	)	$	89,782
Financing Costs	38,929		(13,349		)	25,580
Total	$	179,701	$	(64,339	)	$	115,362

	December 31, 2010
	Total Cost		Accumulated Amortization			Deferred Costs, net
Leasing Costs	$	123,724	$	(43,930	)	$	79,794
Financing Costs	37,257		(10,934		)	26,323
Total	$	160,981	$	(54,864	)	$	106,117

During 2011, 2010 and 2009, the Company capitalized internal direct leasing costs of $6.6 million, $6.2 million and $5.3 million, respectively, in accordance with the accounting standard for the capitalization of leasing costs.