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Related Party Arrangements
6 Months Ended
Jun. 30, 2011
Related Party Arrangements

10. Related Party Arrangements

Unconsolidated Entities

The Company manages unconsolidated real estate entities for which it receives asset management, property management, development and redevelopment fee revenue. From these entities, the Company received fees of $2,332,000 and $1,684,000 in the three months ended June 30, 2011 and 2010, respectively, and $4,652,000 and $3,533,000 for the six months ended June 30, 2011 and 2010, respectively. These fees are included in management, development and other fees on the accompanying Condensed Consolidated Statements of Operations and Other Comprehensive Income. In addition, the Company has outstanding receivables associated with its management role of $ 4,231,000 and $2,558,000 as of June 30, 2011 and 2010, respectively.

 

Director Compensation

The Company recorded non-employee director compensation expense relating to restricted stock grants and deferred stock awards in the amount of $187,000 and $375,000 for the three and six months ended June 30, 2011 as a component of general and administrative expense. Deferred compensation relating to these restricted stock grants and deferred stock awards were $687,000 and $146,000 on June 30, 2011 and December 31, 2010, respectively.