Disclosure About Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure About Fair Value of Financial Instruments [Line Items]

Fair Value Measurements of Assets, Liabilities and Noncontrolling Interests [Table Text Block]

The following table sets forth our assets and liabilities and the Company's noncontrolling interests in the Operating Partnership that are measured at fair value within the fair value hierarchy.

			Level 1		Level 2		Level 3
	Total		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
Fair Value at June 30, 2013:
Assets:
Mortgages and notes receivable, at fair value (1)	$	25,549	$	—	$	16,868	$	8,681
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	3,556		3,556		—		—
Impaired real estate assets	5,866		—		—		5,866
Tax increment financing bond (in prepaid expenses and other assets)	14,233		—		—		14,233
Total Assets	$	49,204	$	3,556	$	16,868	$	28,780
Noncontrolling Interests in the Operating Partnership	$	130,351	$	130,351	$	—	$	—
Liabilities:
Mortgages and notes payable, at fair value (1)	$	2,020,130	$	—	$	2,020,130	$	—
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)	1,103		—		1,103		—
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	3,556		3,556		—		—
Contingent consideration to acquire real estate assets (in accounts payable, accrued expenses and other liabilities)	384		—		—		384
Financing obligations, at fair value (1)	24,220		—		—		24,220
Total Liabilities	$	2,049,393	$	3,556	$	2,021,233	$	24,604

Fair Value at December 31, 2012:
Assets:
Mortgages and notes receivable, at fair value (1)	$	24,725	$	—	$	16,077	$	8,648
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	3,354		3,354		—		—
Tax increment financing bond (in prepaid expenses and other assets)	14,496		—		—		14,496
Total Assets	$	42,575	$	3,354	$	16,077	$	23,144
Noncontrolling Interests in the Operating Partnership	$	124,869	$	124,869	$	—	$	—
Liabilities:
Mortgages and notes payable, at fair value (1)	$	1,987,364	$	—	$	1,987,364	$	—
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)	9,369		—		9,369		—
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	3,354		3,354		—		—
Contingent consideration to acquire real estate assets (in accounts payable, accrued expenses and other liabilities)	563		—		—		563
Financing obligations, at fair value (1)	23,252		—		—		23,252
Total Liabilities	$	2,023,902	$	3,354	$	1,996,733	$	23,815

__________

(1)    Amounts recorded at historical cost on our Consolidated Balance Sheets at June 30, 2013 and December 31, 2012.

Fair Value Measurements, Unobservable Inputs Reconciliation [Table Text Block]

The following table sets forth the changes in our Level 3 asset and liability, which are recorded at fair value on our Consolidated Balance Sheets:

	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Asset:
Tax Increment Financing Bond:
Beginning balance	$	14,324		$	15,075	$	14,496		$	14,788
Principal repayment	—			—		(562		)	—
Unrealized gains/(losses) (in AOCL)	(91		)	296		299			583
Ending balance	$	14,233		$	15,371	$	14,233		$	15,371
Liability:
Contingent Consideration to Acquire Real Estate Assets:
Beginning balance	$	375		$	—	$	563		$	—
Unrealized (gains)/losses (in general and administrative expenses)	9			—		(179		)	—
Ending balance	$	384		$	—	$	384		$	—

Fair Value Measurements, Valuation Techniques [Table Text Block]

The following table sets forth quantitative information about the unobservable inputs of our Level 3 assets and liability, which are recorded at fair value on our Consolidated Balance Sheets:

	Fair Value at June 30, 2013		Valuation Technique	Unobservable Input	Rate/ Percentage
Assets:
Tax increment financing bond	$	14,233	Income approach	Discount rate	10.2%
Impaired real estate assets	$	5,866	Income approach	Capitalization rate	9.5%-10.5%
				Discount rate	14.0%-15.0%
Liability:
Contingent consideration to acquire real estate assets	$	384	Income approach	Payout percentage	50.0%