Deferred Costs

9 Months Ended

Sep. 30, 2011

Deferred Costs [Abstract]

DEFERRED COSTS

5. DEFERRED COSTS

As of September 30, 2011 and December 31, 2010, the Company’s deferred costs were comprised of the following (in thousands):

	September 30, 2011
			Accumulated			Deferred Costs,
	Total Cost		Amortization			net
Leasing Costs	$	137,299	$	(50,321	)	$	86,978
Financing Costs		39,057		(12,379	)		26,678
Total	$	176,356	$	(62,700	)	$	113,656

	December 31, 2010
			Accumulated			Deferred Costs,
	Total Cost		Amortization			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 the three and nine-month periods ended September 30, 2011, the Company capitalized internal direct leasing costs of $1.7 million and $5.4 million, and $1.4 million and $4.7 million during the three and nine-months ended September 30, 2010, respectively, in accordance with the accounting standard for the capitalization of leasing costs.