Dividends and Distributions Payable

6 Months Ended

Jun. 30, 2012

Dividends and Distributions Payable [Abstract]

Dividends and Distributions Payable [Text Block]

10. Dividends and Distributions Payable

On June 5, 2012, the Company declared a dividend of $.40 per common share for the quarter ended June 30, 2012. The holders of limited partnership interest in the Operating Partnership (“OP Units”) were entitled to an equal distribution per OP Unit held as of June 30, 2012. The dividend and distributions payable are recorded as liabilities in the Company’s consolidated balance sheet as of June 30, 2012. The dividend has been reflected as a reduction of stockholders’ equity and the distribution has been reflected as a reduction of the limited partners’ non-controlling interest. The amounts were paid July 10, 2012.