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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues        
Rental income $ 35,028 $ 28,075 $ 97,237 $ 81,741
Interest income 1,866 1,585 5,996 9,493
Expense reimbursements 6,007 5,291 17,973 16,049
Other 1,240 918 3,536 3,018
Total revenues 44,141 35,869 124,742 110,301
Operating Expenses        
Property operating 7,712 6,397 21,462 20,888
Other operating 613 568 2,929 665
Real estate taxes 5,861 4,900 15,903 13,683
General and administrative 7,004 5,758 18,154 17,149
Depreciation and amortization 10,365 8,183 29,326 23,960
Total operating expenses 31,555 25,806 87,774 76,345
Operating income 12,586 10,063 36,968 33,956
Equity in (losses) earnings of unconsolidated affiliates (2,538) 3,110 1,997 3,025
Other interest income 55 105 131 219
(Loss) gain on debt extinguishment 0 (303) 0 1,268
Interest and other finance expense (9,563) (9,692) (26,675) (27,450)
Income from continuing operations before income taxes 540 3,283 12,421 11,018
Income tax (benefit) provision (97) (488) 1,137 (4)
Income from continuing operations 637 3,771 11,284 11,022
Discontinued Operations        
Operating income from discontinued operations 101 876 783 2,745
Impairment of asset 0 0 0 (6,925)
Gain on sale of property 5,917 0 8,585 32,498
Income from discontinued operations 6,018 876 9,368 28,318
Net income 6,655 4,647 20,652 39,340
Noncontrolling interests        
Continuing operations 5,628 (2) 5,381 5,035
Discontinued operations (4,702) (634) (7,604) (707)
Net loss (income) attributable to noncontrolling interests 926 (636) (2,223) 4,328
Net income attributable to Common Shareholders $ 7,581 $ 4,011 $ 18,429 $ 43,668
Basic Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.13 $ 0.09 $ 0.37 $ 0.40
Income from discontinued operations (in dollars per share) $ 0.03 $ 0.01 $ 0.04 $ 0.68
Basic earnings per share (in dollars per share) $ 0.16 $ 0.10 $ 0.41 $ 1.08
Diluted Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.13 $ 0.09 $ 0.37 $ 0.40
Income from discontinued operations (in dollars per share) $ 0.03 $ 0.01 $ 0.04 $ 0.68
Diluted earnings per share (in dollars per share) $ 0.16 $ 0.10 $ 0.41 $ 1.08