Discontined Operations (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2012

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following presents the revenues, expenses and income from discontinued operations:



	For Three Months Ended June 30,				For Six Months Ended June 30,
	2012		2011		2012		2011
Rental revenues	$	279,043	$	272,526	$	558,147	$	537,546
Expenses	188,930		272,147		422,000		523,163
Income from discontinued operations	$	90,113	$	379	$	136,147	$	14,383

The following represents the components of the assets and liabilities of discontinued operations:



	June 30, 2012			December 31, 2011
Cash and cash equivalents	$	18,281		$	11,840
Restricted cash	69,442			52,615
Land	1,171,146			1,171,146
Buildings and improvements	6,400,557			6,389,200
Real estate assets before accumulated depreciation	7,571,703			7,560,346
Accumulated depreciation	(1,074,977		)	(1,022,197		)
Net real estate assets	6,496,726			6,538,149
Other assets	114,422			162,258
Total assets from discontinued operations	6,698,871			6,764,862
Accounts payable and accrued expenses	53,172			67,634
Mortgage payable	6,078,753			6,151,429
Total liabilities from discontinued operations	6,131,925			6,219,063
Net equity of discontinued operations	$	566,946		$	545,799

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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