Borrowings	9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]
Borrowings	Borrowings Mortgage Notes Payable There were no mortgage loan prepayments during the three months ended September 30, 2012. During the nine months ended September 30, 2012, we prepaid $37.7 million in mortgage loans with a weighted-average interest rate of 6.80%. At September 30, 2012, the weighted-average interest rate of our fixed rate mortgage notes payable was 6.09%. Unsecured Senior Notes On January 23, 2012, we repaid the $10.0 million principal amount of 7.84% unsecured senior notes. At September 30, 2012, the weighted-average interest rate of our unsecured senior notes was 6.03%. See Note 22 for further discussion of recent activity regarding our unsecured senior notes. Unsecured Revolving Credit Facilities Our primary credit facility is with a syndicate of banks and provides $575.0 million of unsecured revolving credit. As of September 30, 2012, we had drawn approximately $62.0 million against the facility, which bore interest at 1.77% per annum. As of December 31, 2011, we had drawn approximately $138.0 million against the facility, which bore interest at 1.85% per annum. The facility also includes a facility fee applicable to the lending commitments thereunder, which fee was 0.3% per annum as of September 30, 2012. The facility expires on September 30, 2015, with a one year extension at our option. We also have a $15.0 million unsecured credit facility with City National Bank of Florida, for which there was no outstanding balance as of September 30, 2012 and December 31, 2011. The facility bears interest at LIBOR plus 1.55% and expires August 7, 2013. As of September 30, 2012 the maximum availability under these credit facilities was approximately $386.7 million, net of outstanding letters of credit and subject to the covenants in the loan agreements. Term Loan and Interest Rate Swaps On February 13, 2012, we entered into an unsecured term loan in the principal amount of $200.0 million with a maturity date of February 13, 2019. On July 12, 2012, we increased the principal amount of the term loan to $250.0 million through the exercise of an accordion feature. Borrowings under the term loan bear interest, at our option, at the base rate or one month, two month, three month or six month LIBOR, in each case plus a margin of 1.500% to 2.350% depending on the credit ratings of our unsecured senior long term debt, which margin was 1.900% at September 30, 2012. The loan agreement also calls for other customary fees and charges. The loan agreement contains customary restrictions on our business, financial and affirmative covenants, events of default and remedies which are generally the same as those provided in our $575.0 million unsecured revolving credit facility. We entered into interest rate swaps to convert the LIBOR rate applicable to the term loan to a fixed interest rate, providing an effective fixed interest rate under the loan agreement of 3.46% per annum for the initial $200.0 million loan and 3.00% for the additional $50.0 million loan, in each case, based on the current credit ratings of our unsecured senior notes. The swaps are designated and qualified as cash flow hedges and have been recorded at fair value. The swap agreements mature on February 13, 2019. The fair value of our interest rate swaps at September 30, 2012 was a liability of $7.7 million and is included in accounts payable and accrued expenses on our condensed consolidated balance sheet at such date.

Borrowings

Mortgage Notes Payable

There were no mortgage loan prepayments during the three months ended September 30, 2012. During the nine months ended September 30, 2012, we prepaid $37.7 million in mortgage loans with a weighted-average interest rate of 6.80%. At September 30, 2012, the weighted-average interest rate of our fixed rate mortgage notes payable was 6.09%.

Unsecured Senior Notes

On January 23, 2012, we repaid the $10.0 million principal amount of 7.84% unsecured senior notes. At September 30, 2012, the weighted-average interest rate of our unsecured senior notes was 6.03%. See Note 22 for further discussion of recent activity regarding our unsecured senior notes.

Unsecured Revolving Credit Facilities

Our primary credit facility is with a syndicate of banks and provides $575.0 million of unsecured revolving credit. As of September 30, 2012, we had drawn approximately $62.0 million against the facility, which bore interest at 1.77% per annum. As of December 31, 2011, we had drawn approximately $138.0 million against the facility, which bore interest at 1.85% per annum. The facility also includes a facility fee applicable to the lending commitments thereunder, which fee was 0.3% per annum as of September 30, 2012. The facility expires on September 30, 2015, with a one year extension at our option.

We also have a $15.0 million unsecured credit facility with City National Bank of Florida, for which there was no outstanding balance as of September 30, 2012 and December 31, 2011. The facility bears interest at LIBOR plus 1.55% and expires August 7, 2013.

As of September 30, 2012 the maximum availability under these credit facilities was approximately $386.7 million, net of outstanding letters of credit and subject to the covenants in the loan agreements.

Term Loan and Interest Rate Swaps

On February 13, 2012, we entered into an unsecured term loan in the principal amount of $200.0 million with a maturity date of February 13, 2019. On July 12, 2012, we increased the principal amount of the term loan to $250.0 million through the exercise of an accordion feature. Borrowings under the term loan bear interest, at our option, at the base rate or one month, two month, three month or six month LIBOR, in each case plus a margin of 1.500% to 2.350% depending on the credit ratings of our unsecured senior long term debt, which margin was 1.900% at September 30, 2012. The loan agreement also calls for other customary fees and charges. The loan agreement contains customary restrictions on our business, financial and affirmative covenants, events of default and remedies which are generally the same as those provided in our $575.0 million unsecured revolving credit facility. We entered into interest rate swaps to convert the LIBOR rate applicable to the term loan to a fixed interest rate, providing an effective fixed interest rate under the loan agreement of 3.46% per annum for the initial $200.0 million loan and 3.00% for the additional $50.0 million loan, in each case, based on the current credit ratings of our unsecured senior notes. The swaps are designated and qualified as cash flow hedges and have been recorded at fair value. The swap agreements mature on February 13, 2019. The fair value of our interest rate swaps at September 30, 2012 was a liability of $7.7 million and is included in accounts payable and accrued expenses on our condensed consolidated balance sheet at such date.