Financial Instruments: Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2011

Financial Instruments: Derivatives and Hedging

Schedule of notional and fair value of derivative financial instruments and foreign currency hedges

		Notional Value	Strike Rate		Effective Date	Expiration Date		Fair Value
Interest Rate Cap	$	110,180	6.000	%	2/2011	2/2012	$	---
Interest Rate Cap	$	139,672	5.000	%	1/2011	1/2012	$	---
Interest Rate Swap	$	30,000	2.295	%	7/2010	6/2016	$	(551	)
Currency Hedge	$	20,748	1.55185	GBP-USD	9/2010	12/2012	$	(517	)

Schedule of effect of derivative financial instruments on Consolidated Statements of Income

		Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion) For the Three Months Ended		Amount of (Loss) or Gain Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Three Months Ended		Amount of (Loss) or Gain Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Three Months Ended
Designation\Cash Flow	Derivative	June 30, 2011	June 30, 2010	June 30,2011	June 30, 2010	June 30, 2011	June 30, 2010
Qualifying	Interest Rate Swaps/Caps	$(6,186)	$(4,723)	$(3,145)	$(3,185)	$(18)	$---
Non-qualifying	Interest Rate Caps/Currency Hedges	---	---	---	---	(127)	---

		Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion) For the Six Months Ended		Amount of (Loss) or Gain Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Six Months Ended		Amount of (Loss) or Gain Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Six Months Ended
Designation\Cash Flow	Derivative	June 30, 2011	June 30, 2010	June 30,2011	June 30, 2010	June 30, 2011	June 30, 2010
Qualifying	Interest Rate Swaps/Caps	$(6,304)	$(14,143)	$(6,216)	$(6,242)	$(18)	$(1,331)
Non-qualifying	Interest Rate Caps/Currency Hedges	---	---	---	---	(657)	(25)