SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of financial information of business segments

	March 31, 2013		December 31, 2012
Balance Sheet
Investments in unconsolidated real estate ventures
Rental operations	$	102,102	$	106,313

Total assets
Rental operations	$	3,002,322	$	2,996,453
Tenant reinsurance	24,255		27,645
Property management, acquisition and development	202,519		199,379
	$	3,229,096	$	3,223,477

	For the Three Months Ended March 31,
	2013			2012
Statement of Operations
Total revenues
Rental operations	$	102,923		$	75,844
Tenant reinsurance	10,221			8,557
Property management, acquisition and development	6,178			6,586
	119,322			90,987

Operating expenses, including depreciation and amortization
Rental operations	55,968			42,125
Tenant reinsurance	1,910			1,848
Property management, acquisition and development	14,715			14,244
	72,593			58,217

Income (loss) from operations
Rental operations	46,955			33,719
Tenant reinsurance	8,311			6,709
Property management, acquisition and development	(8,537		)	(7,658		)
	46,729			32,770

Interest expense
Rental operations	(16,980		)	(17,784		)
Property management, acquisition and development	(386		)	(731		)
	(17,366		)	(18,515		)

Interest income
Tenant reinsurance	4			3
Property management, acquisition and development	180			272
	184			275

Interest income on note receivable from Preferred Operating Partnership unit holder
Property management, acquisition and development	1,213			1,213

Equity in earnings of unconsolidated real estate ventures
Rental operations	2,623			2,296

Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of partners’ interests
Rental operations	2,556			5,429

Income tax expense
Tenant reinsurance	(2,866		)	(2,349		)
Property management, acquisition and development	858			1,399
	(2,008		)	(950		)

Net income (loss)
Rental operations	35,154			23,660
Tenant reinsurance	5,449			4,363
Property management, acquisition and development	(6,672		)	(5,505		)
	$	33,931		$	22,518

Depreciation and amortization expense
Rental operations	$	21,531		$	15,529
Property management, acquisition and development	1,494			995
	$	23,025		$	16,524

Statement of Cash Flows
Acquisition of real estate assets
Property management, acquisition and development	$	(18,754	)	$	(18,495	)

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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