19.

OPERATING PARTNERSHIP QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Quarterly financial information in 2011 and 2010 was as follows:


	Year ended December 31, 2011
	First			Second			Third			Fourth
Revenues	$	73,531		$	75,424		$	78,612		$	77,749

Net income (loss)		3,013			9,834			8,828			3,920
Noncontrolling interests – consolidated real estate entities		11			(58	)		(9	)		(11	)
Distributions to preferred unitholders		(1,689	)		(922	)		(922	)		(922	)
Preferred unit redemption costs		(1,757	)		-			-			-

Net income (loss) available to common unitholders	$	(422	)	$	8,854		$	7,897		$	2,987

Earnings (loss) per common unit:
Net income (loss) available to common unitholders – basic	$	(0.01	)	$	0.18		$	0.15		$	0.06
Net income (loss) available to common unitholders – diluted	$	(0.01	)	$	0.17		$	0.15		$	0.06

	Year ended December 31, 2010
	First			Second			Third			Fourth
Revenues	$	69,143		$	70,831		$	72,895		$	72,269

Net income (loss)		(1,127	)		(33,753	)		23,595			4,294
Noncontrolling interests – consolidated real estate entities		(61	)		-			14			27
Distributions to preferred unitholders		(1,890	)		(1,878	)		(1,864	)		(1,871	)
Preferred unit redemption costs		(8	)		(37	)		1			-

Net income (loss) available to common unitholders	$	(3,086	)	$	(35,668	)	$	21,746		$	2,450

Earnings (loss) per common unit:
Net income (loss) available to common unitholders – basic	$	(0.06	)	$	(0.73	)	$	0.44		$	0.05
Net income (loss) available to common unitholders – diluted	$	(0.06	)	$	(0.73	)	$	0.44		$	0.05

In the fourth quarter of 2011, the reduction in income from continuing operations primarily resulted from a loss on the early extinguishment of indebtedness.

In the second quarter of 2010, the increased loss from continuing operations resulted from asset impairment charges. In the third quarter of 2010, the increased income from continuing operations resulted from higher equity in earnings from unconsolidated entities due to debt extinguishment gains, partially offset by asset impairment charges.