Acquired Properties

6 Months Ended

Jun. 30, 2012

Acquired Properties [Abstract]

Acquired Properties

(3) Acquired Properties

The Company records identifiable assets, liabilities, noncontrolling interests and goodwill acquired in a business combination at fair value. During the six months ended June 30, 2012 and 2011, the Company incurred $1,374 and $503, respectively, of acquisition and transaction costs that were recorded in general and administrative expenses on the consolidated statements of operations and other comprehensive income.

The table below reflects acquisition activity during the six months ended June 30, 2012.

Segment	Property	Date			Gross Acquisition Price		Sq Ft/Rooms
Lodging	Marriott-San Francisco Airport	3/23/2012		$		108,000	685 rooms
Lodging	Hilton St. Louis Downtown	3/23/2012				22,600	195 rooms
Lodging	Renaissance Arboretum – Austin, TX	3/23/2012				103,000	492 rooms
Lodging	Renaissance Waverly – Atlanta, GA	3/23/2012				97,000	521 rooms
Lodging	Marriott Griffin Gate Resort & Spa – Lexington, KY	3/23/2012				62,500	409 rooms
Retail	Tomball Town Center Outparcel	3/30/2012				3,000	6,541 square feet
Retail	Tulsa Hills Expansion	4/20/2012				10,600	74,406 square feet
Total			$			406,700

For properties acquired during the six months ended June 30, 2012, the Company recorded revenue of $40,483 and property net income of $11,039 excluding related expensed acquisition costs.