Business Combinations (Tables)

3 Months Ended

Mar. 31, 2012


	Palm Coast April 13, 2011

Fair value of our equity interest before business combinations	$	7,578

Fair value of consideration transferred	$	11,462	(1)

Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	32,807
Unamortized debt and lease costs		2,421
Accrued rent and accounts receivable		211
Cash and cash equivalents		1,402
Other, net		694
Liabilities:
Accounts payable and accrued expenses		(137	)
Other, net		(318	)

Total net assets	$	37,080

Noncontrolling interests of the real estate joint venture	$	-

(1)

Consideration included $.5 million of cash and $11.0 million in debt reimbursement.

Pro Forma Impact Of Real Estate Joint Ventures


	Three Months Ended March 31,
	Pro Forma 2012⁽¹⁾		Pro Forma 2011⁽¹⁾

Revenues	$	122,471	$	118,993
Net income		22,638		17,177
Net income attributable to common shareholders		12,328		7,216
Earnings per share – basic		.10		.06
Earnings per share – diluted		.10		.06

(1)

There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References+ Details

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Appendix F

-Paragraph F4

-Subparagraph e

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1486-128463

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 52

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details