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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues        
Rental income $ 32,764 $ 27,868 $ 63,119 $ 54,028
Interest income 2,075 3,370 4,130 7,908
Expense reimbursements 6,277 5,507 12,056 10,757
Management fee income 443 288 876 917
Other 867 495 1,420 1,183
Total revenues 42,426 37,528 81,601 74,793
Operating Expenses        
Property operating 6,913 7,160 13,796 14,494
Other operating 1,281 78 2,316 97
Real estate taxes 5,254 4,585 10,130 8,798
General and administrative 5,217 5,699 11,150 11,389
Depreciation and amortization 10,147 8,301 19,215 15,870
Total operating expenses 28,812 25,823 56,607 50,648
Operating income 13,614 11,705 24,994 24,145
Equity in earnings (losses) of unconsolidated affiliates 4,591 63 4,535 (85)
Other interest income 22 80 76 114
(Loss) Gain on debt extinguishment 0 (102) 0 1,571
Interest and other finance expense (8,747) (8,855) (17,333) (17,758)
Income from continuing operations before income taxes 9,480 2,891 12,272 7,987
Income tax provision 1,039 233 1,234 495
Income from continuing operations 8,441 2,658 11,038 7,492
Discontinued Operations        
Operating income from discontinued operations 67 732 293 1,628
Impairment of asset 0 (6,925) 0 (6,925)
Gain on sale of property 2,668 28,576 2,668 32,498
Income from discontinued operations 2,735 22,383 2,961 27,201
Net income 11,176 25,041 13,999 34,693
Noncontrolling interests        
Continuing operations (1,924) 1,562 (561) 4,886
Discontinued operations (2,413) 3,631 (2,589) 78
Net (income) loss attributable to noncontrolling interests (4,337) 5,193 (3,150) 4,964
Net income attributable to Common Shareholders $ 6,839 $ 30,234 $ 10,849 $ 39,657
Basic Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.14 $ 0.10 $ 0.24 $ 0.31
Income from discontinued operations (in dollars per share) $ 0.01 $ 0.65 $ 0.01 $ 0.67
Basic earnings per share (in dollars per share) $ 0.15 $ 0.75 $ 0.25 $ 0.98
Diluted Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.14 $ 0.10 $ 0.24 $ 0.31
Income from discontinued operations (in dollars per share) $ 0.01 $ 0.64 $ 0.01 $ 0.67
Diluted earnings per share (in dollars per share) $ 0.15 $ 0.74 $ 0.25 $ 0.98