Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurements

Schedule of financial assets and liabilities measured at fair value on a recurring basis

				Basis of Fair Value Measurements
				Quoted Prices		Significant
				In Active		Other			Significant
				Markets for		Observable			Unobservable
	Total			Identical Items		Inputs			Inputs
Description	Fair Value			(Level 1)		(Level 2)			(Level 3)
as of September 30, 2012
Assets:
Derivative financial instruments	$	—		$	—	$	—		$	—
Liabilities:
Derivative financial instruments	$	(1,604	)	$	—	$	(1,604	)	$	—

				Basis of Fair Value Measurements
				Quoted Prices		Significant
				In Active		Other			Significant
				Markets for		Observable			Unobservable
	Total			Identical Items		Inputs			Inputs
Description	Fair Value			(Level 1)		(Level 2)			(Level 3)
as of December 31, 2011
Assets:
Derivative financial instruments	$	31		$	—	$	31		$	—
Liabilities:
Derivative financial instruments	$	(621	)	$	—	$	(621	)	$	—

Schedule of assets measured at fair value and impaired during the periods presented

			Basis of Fair Value Measurements
			Quoted Prices		Significant
			In Active		Other		Significant
			Markets for		Observable		Unobservable
	Fair Value		Identical Items		Inputs		Inputs		Total
Description	of Assets		(Level 1)		(Level 2)		(Level 3)		Losses (1) (2)
as of September 30, 2012
Real estate	$	40,154	$	—	$	—	$	40,154	$	(24,487	)
as of December 31, 2011
Real estate	$	178,500	$	—	$	31,900	$	146,600	$	(53,970	)
Investments in unconsolidated entitites	$	6,304	$	—	$	—	$	6,304	$	(276	)

(1) Excludes approximately $0.6 million and $38.8 million in impairment losses of our discontinued operations as of September 30, 2012 and December 31, 2011, respectively.

(2) The December 31, 2011 amount includes approximately $2.1 million in impairment losses for properties that were disposed of and included in discontinued operations subsequent to December 31, 2011.

Schedule of quantitative information about the unobservable inputs of Level 3 real estate recorded at fair value

	Fair Value at		Valuation	Unobservable
	September 30, 2012		Technique	Input	Range
Real estate on which impairment losses were recognized	$	40,154	Discounted Cash Flow	Discount rate	9.53% - 13.00%
				Terminal capitalization rate	8.28% - 10.00%
				Market rent growth rate	0% - 3.00%
				Expense growth rate	0% - 3.00%

Schedule of carrying amounts and related estimated fair value of notes payable

	September 30, 2012				December 31, 2011
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Notes Payable	$	2,173,749	$	2,157,714	$	2,367,401	$	2,269,235