INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Indebtedness

At December 31, 2012 and 2011, the Company’s indebtedness consisted of the following:

Description	Payment Terms	Interest Rate	Maturity Date			December 31,
						2012		2011
Senior Unsecured Notes	Int.	3.375% - 4.75%		2017 - 2022	(1)	$	400,000	$	375,775
Unsecured Bank Term Loan	Int.	LIBOR + 1.70% (2)		2018			300,000		—
Unsecured Revolving Lines of Credit	Int.	LIBOR + 1.225% (3)		2016			—		135,000
Secured Mortgage Notes	Prin. and Int.	4.88% - 5.99%		2015 - 2019	(4)		402,464		459,668
Total						$	1,102,464	$	970,443

(1) There are no maturities of senior unsecured notes in 2013. The outstanding unsecured notes mature in 2017 and 2022.

(2) Represents stated rate at December 31, 2012. As discussed below, the Company has entered into interest rate swap arrangements that effectively fix the interest rate under this facility. At December 31, 2012, the effective blended interest rate under the Term Loan was 3.24%.

(3) Represents stated rate at December 31, 2012.

(4) There are no maturities of secured notes in 2013. These notes mature between 2015 and 2019.

Schedule of Aggregate Maturities of Indebtedness

The aggregate maturities of the Company’s indebtedness are as follows:

2013	$	3,731
2014		3,961
2015		124,205
2016		4,419
2017		154,736
Thereafter		811,412
	$	1,102,464