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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Rental revenue $ 127,995 $ 121,661 $ 130,495
Interest income from loans and securities 19,655 27,621 30,668
Tenant reimbursements 13,900 12,159 11,473
Other revenue 793 974 1,532
Total revenues 162,343 162,415 174,168
Interest expense 76,594 83,024 88,195
Property expenses 27,216 24,690 20,410
General and administrative expenses 10,628 10,660 10,881
General and administrative expenses-stock based compensation 2,785 2,541 2,118
Depreciation and amortization expense on real property 47,632 45,956 48,957
Other expenses 199 267 308
Total expenses 165,054 167,138 170,869
Gain (loss) on investments, net 2,074 (7,949) (10,886)
Provision for loss on property investment (16,423)   (15,999)
Gain (loss) on extinguishment of debt 15,163 (293) 9,829
Total other gains (losses) (3,050) (8,242) (12,980)
Provision for income taxes     (201)
Loss from continuing operations (5,761) (12,965) (9,882)
Income (loss) from discontinued operations 42 (227) (60)
Total discontinued operations 3,906 (227) (4,136)
Net loss before non-controlling interest in consolidated subsidiaries (1,855) (13,192) (14,018)
Non-controlling interest in consolidated subsidiaries 20 52 51
Net loss (1,835) (13,140) (13,967)
Dividends allocable to preferred shares (6,510) (5,618) (2,844)
Net loss allocable to common stockholders (8,345) (18,758) (16,811)
Income (loss) per common share, basic and diluted:      
Loss from continuing operations $ (0.19) $ (0.33) $ (0.26)
Income (loss) from discontinued operations $ 0.06 $ 0.00 $ (0.08)
Net loss per common share, basic and diluted $ (0.13) $ (0.33) $ (0.34)
Weighted average number of common shares outstanding, basic and diluted 64,758 56,189 49,297
Dividends declared per common share $ 0.26 $ 0.25 $ 0.21
Dividends declared per preferred share $ 2.03 $ 2.03 $ 2.03
Continuing Operations
     
Gain (loss) on investments, net 648 (7,949) (10,886)
Provision for loss on property investment     (11,923)
Gain (loss) on extinguishment of debt (3,698) (293) 9,829
Discontinued Operations
     
Gain (loss) on investments, net 1,426    
Provision for loss on property investment (16,423)   (4,076)
Gain (loss) on extinguishment of debt $ 18,861