Segment Information (Tables)

3 Months Ended

Mar. 31, 2012



	Pennsylvania Suburbs		Philadelphia CBD		Metropolitan, D.C.		New Jersey /Delaware		Richmond, Virginia		Austin, Texas		California		Corporate			Total
As of March 31, 2012:
Real estate investments, at cost:
Operating properties	$	1,219,154	$	954,484	$	1,181,600	$	543,293	$	307,275	$	257,397	$	253,921	$	—		$	4,717,124
Construction-in-progress															38,442			38,442
Land inventory															109,285			109,285
As of December 31, 2011:
Real estate investments, at cost:
Operating properties	$	1,218,071	$	953,870	$	1,255,803	$	545,657	$	307,698	$	257,694	$	254,287	$	—		$	4,793,080
Construction-in-progress															25,083			25,083
Land inventory															109,008			109,008
For the three-months ended March 31, 2012:
Total revenue	$	39,829	$	33,149	$	26,437	$	20,601	$	9,034	$	7,493	$	5,636	$	(378	)	$	141,801
Property operating expenses, real estate taxes and third party management expenses	14,080		12,686		10,065		9,737		3,643		3,396		2,618		(445		)	55,780
Net operating income	$	25,749	$	20,463	$	16,372	$	10,864	$	5,391	$	4,097	$	3,018	$	67		$	86,021
For the three-months ended March 31, 2011:
Total revenue	$	40,053	$	31,850	$	30,332	$	19,978	$	8,798	$	8,114	$	5,409	$	(236	)	$	144,298
Property operating expenses, real estate taxes and third party management expenses	16,672		12,219		11,648		11,088		3,388		3,093		2,695		(333		)	60,470
Net operating income	$	23,381	$	19,631	$	18,684	$	8,890	$	5,410	$	5,021	$	2,714	$	97		$	83,828

Reconciliation of consolidated net operating income



	Three-month periods ended March 31,
	2012			2011
	(amounts in thousands)
Consolidated net operating income	$	86,021		$	83,828
Less:
Interest expense	(34,144		)	(32,393		)
Deferred financing costs	(1,311		)	(928		)
Depreciation and amortization	(50,502		)	(50,295		)
Administrative expenses	(6,050		)	(6,244		)
Plus:
Interest income	483			441
Interest expense - financing obligation	(182		)	—
Equity in income of real estate ventures	44			1,233
Net gain on sales of interests in real estate	—			2,791
Gain (loss) on early extinguishment of debt	(248		)	—
Loss from continuing operations	(5,889		)	(1,567		)
Income from discontinued operations	15,225			1,077
Net income (loss)	$	9,336		$	(490	)

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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