Property Acquisitions, Discontinued Operations, And Assets Held For Sale (Tables)

3 Months Ended

Mar. 31, 2012

Property Acquisitions, Discontinued Operations, And Assets Held For Sale [Abstract]

Selected data regarding acquisition [Table Text Block]

Selected data regarding this acquisition is presented below (in millions):

Cash consideration	$	99.5
Fair value of our 20% ownership interest held before the acquisition	24.9
Debt assumed	272.6
Net other assets/liabilities acquired	1.1
Acquisition date fair value	$	398.1

Preliminary estimated fair values of the assets acquired and liabilities assumed [Table Text Block]

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions):

Assets acquired:
	Buildings and improvements	$	292.4
	Land	96.2
	Cash	3.4
	Restricted cash	0.7
	Intangible and other assets	10.0
Total assets acquired		$	402.7
Liabilities assumed:
	Mortgage debt (1)	$	272.6
	Other liabilities	4.6
Total liabilities assumed		$	277.2
	Net assets acquired	$	125.5

(1) Mortgage debt assumed was subsequently repaid in January 2012 at face value.

Unaudited pro forma summary for consolidated information [Table Text Block]

The following unaudited pro forma summary presents consolidated information assuming the acquisition of control of the twelve joint ventures had occurred on January 1, 2011.

	Pro Forma Three Months Ended March 31,
(in thousands)	2012		2011
	(unaudited)
Property revenues	$	181,598	$	168,581
Property expenses	68,759		67,070
	$	112,839	$	101,511

Summary Of Income From Discontinued Operations

The following is a summary of income from discontinued operations for the three months ended March 31, 2012 and 2011:

	Three Months Ended March 31,		Three Months Ended March 31,
(in thousands)	2012		2011
Property revenues	$	1,209	$	3,545
Property expenses	670		1,782
	539		1,763
Depreciation and amortization	186		971
Income from discontinued operations	$	353	$	792