PRO FORMA FINANCIAL INFORMATION

The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company for the three months ended March 31, 2012 and 2011. The Company acquired two properties and originated the Mezzanine Loan during the three months ended March 31, 2012. The following unaudited pro forma information for the three months ended March 31, 2012 and 2011 has been prepared to give effect to these transactions and for the eleven acquisitions that occurred during 2011, as well as the offering of 11.7 million shares of common stock that closed in August 2011, as if they had occurred on January 1, 2011. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on this date, nor does it purport to predict the results of operations for future periods (in thousands, except share and per share amounts):



	Three Months Ended March 31,
	2012		2011

Revenues	$	24,775	$	24,102
Depreciation and amortization	7,488		7,738
Net income	5,703		6,097
Net income per common share, basic	0.15		0.17
Net income per common share, diluted	0.15		0.17
Weighted-average number of common shares outstanding, basic	37,035,970		36,866,140
Weighted-average number of common shares outstanding, diluted	37,058,886		36,941,585