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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Rental income$ 45,719$ 30,746$ 126,718$ 80,040
Expenses    
Real estate taxes4,8533,29213,9478,624
Utility expenses4,3752,83611,4226,246
Other operating expenses7,7235,14721,56812,667
Depreciation and amortization10,3796,32127,86216,602
Acquisition related costs1,0082,6872,8464,542
General and administrative2,7461,8337,6554,915
Total expenses31,08422,11685,30053,596
Operating income14,6358,63041,41826,444
Interest and other income54128980
Interest expense (including net amortization of debt premiums and deferred financing fees of $418, $635, $1,254 and $1,791, respectively)(3,162)(1,973)(8,775)(5,182)
Equity in earnings (losses) of an investee2835111(17)
Income before income tax benefit (expense)11,5556,70432,84321,325
Income tax benefit (expense)8(35)(94)(71)
Net income$ 11,563$ 6,669$ 32,749$ 21,254
Weighted average common shares outstanding (in shares)45,32236,36942,12732,265
Net income per common share (in dollars per share)$ 0.26$ 0.18$ 0.78$ 0.66