SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2014

SEGMENT INFORMATION

Schedule of financial information of business segments

	March 31, 2014		December 31, 2013
Balance Sheet
Investment in unconsolidated real estate ventures
Rental operations	$	89,326	$	88,125
Total assets
Rental operations	$	3,873,654	$	3,641,746
Tenant reinsurance	31,628		34,393
Property management, acquisition and development	218,209		301,001
	$	4,123,491	$	3,977,140

	For the Three Months Ended March 31,
	2014			2013
Statement of Operations
Total revenues
Rental operations	$	132,001		$	102,923
Tenant reinsurance	13,463			10,221
Property management, acquisition and development	6,716			6,178
	152,180			119,322
Operating expenses, including depreciation and amortization
Rental operations	69,942			55,968
Tenant reinsurance	2,567			1,910
Property management, acquisition and development	19,273			14,715
	91,782			72,593
Income (loss) from operations
Rental operations	62,059			46,955
Tenant reinsurance	10,896			8,311
Property management, acquisition and development	(12,557		)	(8,537		)
	60,398			46,729
Interest expense
Rental operations	(19,310		)	(16,980		)
Property management, acquisition and development	(288		)	(386		)
	(19,598		)	(17,366		)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes
Property management, acquisition and development	(662		)	—
Interest income
Tenant reinsurance	4			4
Property management, acquisition and development	265			180
	269			184
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	2,419			2,623
Equity in earnings of unconsolidated real estate ventures - purchase of partners’ interests
Rental operations	—			2,556
Income tax expense
Rental operations	1,419			1,009
Tenant reinsurance	(3,815		)	(2,866		)
Property management, acquisition and development	(434		)	(151		)
	(2,830		)	(2,008		)
Net income (loss)
Rental operations	46,587			36,163
Tenant reinsurance	7,085			5,449
Property management, acquisition and development	(12,463		)	(7,681		)
	$	41,209		$	33,931
Depreciation and amortization expense
Rental operations	$	26,460		$	21,531
Property management, acquisition and development		1,915			1,494
	$	28,375		$	23,025
Statement of Cash Flows
Acquisition of real estate assets
Property management, acquisition and development	$	(256,759	)	$	(18,754	)