Subsequent Events

6 Months Ended

Jun. 30, 2011

17. Subsequent Events

On July 14, 2011, we commenced an offer to repurchase, at the option of each holder, any and all of the Operating Partnership's outstanding 2026 Debentures at a price equal to 100% of the principal amount, as required by the terms of the indenture governing the 2026 Debentures. The repurchase offer will expire at 5:00 p.m., New York City time, on August 11, 2011. We also distributed a Notice of Redemption to the holders of the 2026 Debentures that the Operating Partnership intends to redeem all of the outstanding 2026 Debentures, pursuant to its option under the indenture governing the 2026 Debentures, on August 18, 2011, at a price equal to 100% of the principal amount, plus accrued and unpaid interest thereon to, but excluding, the redemption date. In connection with the redemption, holders of the 2026 Debentures have the right to exchange their 2026 Debentures prior to 5:00 p.m., New York City time, on August 16, 2011. 2026 Debentures not surrendered pursuant to the repurchase offer prior to 5:00 p.m., New York City time, on August 11, 2011, or for exchange prior to 5:00 p.m., New York City time, on August 16, 2011, will be redeemed by the Company on August 18, 2011.

On July 21, 2011, we completed the acquisition of an 8.6 acre development site in Sydney, Australia. The purchase price was approximately AUD 10.1 million (or $11.0 million based on the rate of exchange on July 21, 2011) and was funded with borrowings under our revolving credit facility.

On July 25, 2011, we repaid the $25.0 million of 7.0% Series A unsecured notes under the Prudential shelf facility at maturity. The repayment was funded with borrowings under our revolving credit facility.

On July 25, 2011, we declared the following dividends per share and the Operating Partnership declared an equivalent distribution per unit:


Share Class	Series C Preferred Stock		Series D Preferred Stock		Common stock and common unit
Dividend and distribution amount	$	0.273438	$	0.343750	$	0.680000
Dividend and distribution payable date		September 30, 2011		September 30, 2011		September 30, 2011
Dividend payable to shareholders of record on		September 15, 2011		September 15, 2011		September 15, 2011
Annual equivalent rate of dividend and distribution	$	1.094	$	1.375	$	2.720

On July 26, 2011, we completed the acquisition of a redevelopment site in London, U.K. The purchase price was £12.9 million (or $21.2 million based on the rate of exchange on July 26, 2011) and was funded with borrowings under our revolving credit facility.

- Definition

Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business.

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