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Consolidated Statements Of Operations (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Rental income from operating leases$ 8,814$ 7,525$ 24,110$ 21,748
Lease termination income001090
Real Estate Fee Income015015
Real estate fee income - related party5339071,9171,815
Construction management fee income - related party5397181267
Asset management fee income - related party2323708331,110
Total revenues9,6328,91427,15024,955
Expenses:    
General and administrative1,4851,5994,1954,299
Property expense2,2362,7225,9136,373
Legal and professional266278788663
Real estate commissions10646292139
Acquisition costs10702220
Depreciation and amortization2,1221,6426,0714,998
Impairment - properties02,26802,268
Impairment - notes receivable05000500
Total expenses6,3229,05517,48119,240
Operating income (loss)3,310(141)9,6695,715
Other income (expense):    
Interest and other income126108383365
Interest and other income - related party12367184195
Gain on debt extinguishment05,37405,374
Loss from advised funds and other affiliates(74)(133)(324)(1,071)
Income tax expense(134)(235)(188)(90)
Interest expense(2,648)(2,338)(7,266)(7,175)
Income (loss) from continuing operations7032,7022,4583,313
Income (loss) from discontinued operations, net of taxes(2)183145910
Gain on sale of real estate acquired for resale, net of taxes4175,5494175,549
Income from discontinued operations4155,7325626,459
Net income1,1188,4343,0209,772
Net loss attributable to non-controlling interest0(149)0(173)
Net income available to stockholders$ 1,118$ 8,285$ 3,020$ 9,599
Net income per share of common stock - basic and diluted    
Income before discontinued operations$ 0.03$ 0.11$ 0.11$ 0.14
Income from discontinued operations$ 0.02$ 0.25$ 0.02$ 0.28
Net income$ 0.05$ 0.36$ 0.13$ 0.42
Weighted average shares of common stock used to compute net income per share, basic and diluted22,78522,69122,76122,677
Dividends per share of common stock$ 0.10$ 0.10$ 0.30$ 0.35