PARTNERS’ EQUITY OF THE OPERATING PARTNERSHIP

Earnings per Common Partnership Unit

The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):



	Three-month periods ended June 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(4,147	)	$	(4,147	)	$	(11,813	)	$	(11,813	)
Amount allocable to unvested restricted unitholders	(95		)	(95		)	(121		)	(121		)
Preferred unit dividends	(3,049		)	(3,049		)	(1,998		)	(1,998		)
Preferred unit redemption charge	(2,090		)	(2,090		)	—			—
Loss from continuing operations available to common unitholders	(9,381		)	(9,381		)	(13,932		)	(13,932		)
Discontinued operations attributable to common unitholders	10,949			10,949			5,579			5,579
Net income (loss) attributable to common unitholders	$	1,568		$	1,568		$	(8,353	)	$	(8,353	)
Denominator
Weighted-average units outstanding	145,958,358			145,958,358			145,220,765			145,220,765
Earnings per Common Partnership Unit:
Loss from continuing operations attributable to common unitholders	$	(0.06	)	$	(0.06	)	$	(0.10	)	$	(0.10	)
Discontinued operations attributable to common unitholders	0.07			0.07			0.04			0.04
Net income (loss) attributable to common unitholders	$	0.01		$	0.01		$	(0.06	)	$	(0.06	)



	Six-month periods ended June 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(10,494	)	$	(10,494	)	$	(14,139	)	$	(14,139	)
Amount allocable to unvested restricted unitholders	(191		)	(191		)	(263		)	(263		)
Preferred unit dividends	(5,047		)	(5,047		)	(3,996		)	(3,996		)
Preferred unit redemption charge	(2,090		)	(2,090		)	—			—
Loss from continuing operations available to common unitholders	(17,822		)	(17,822		)	(18,398		)	(18,398		)
Discontinued operations attributable to common unitholders	26,632			26,632			7,415			7,415
Net income (loss) attributable to common unitholders	$	8,810		$	8,810		$	(10,983	)	$	(10,983	)
Denominator
Weighted-average units outstanding	145,721,890			145,721,890			144,852,515			144,852,515
Earnings per Common Partnership Unit:
Income (loss) from continuing operations attributable to common unitholders	$	(0.12	)	$	(0.12	)	$	(0.13	)	$	(0.13	)
Discontinued operations attributable to common unitholders	0.18			0.18			0.05			0.05
Net income (loss) attributable to common unitholders	$	0.06		$	0.06		$	(0.08	)	$	(0.08	)