ACQUISITIONS AND INTANGIBLES (Tables)

6 Months Ended

Jun. 30, 2012

ACQUISITIONS AND INTANGIBLES

Schedule of gain calculation

Total net assets acquired	$	200,271
Previous investment in The Oaks and Westroads	(83,415		)
Cash paid to acquire our joint venture partner’s interest	(98,309		)
Gain from change in control of investment properties	$	18,547

Schedule of allocation of purchase price to net assets acquired at the date of acquisition

Investment in real estate	$	420,256
Above-market lease intangibles	9,378
Below-market lease intangibles	(41,084		)
Fair value of mortgages, notes and loans payable	(197,927		)
Net working capital	9,648
Net assets acquired	$	200,271

Schedule of intangible assets and liabilities

	Gross Asset (Liability)			Accumulated (Amortization)/ Accretion			Net Carrying Amount
As of June 30, 2012
Tenant leases:
In-place value	$	1,043,393		$	(361,766	)	$	681,627
Above-market	1,276,564			(346,467		)	930,097
Below-market	(765,392		)	204,398			(560,994		)
Building leases:
Above-market	(15,268		)	2,545			(12,723		)
Ground leases:
Above-market	(9,839		)	631			(9,208		)
Below-market	202,259			(8,712		)	193,547
Real estate tax stabilization agreement	111,506			(10,367		)	101,139
As of December 31, 2011
Tenant leases:
In-place value	$	1,252,484		$	(391,605	)	$	860,879
Above-market	1,478,798			(315,044		)	1,163,754
Below-market	(819,056		)	184,254			(634,802		)
Building leases:
Above-market	(15,268		)	1,697			(13,571		)
Ground leases:
Above-market	(9,839		)	439			(9,400		)
Below-market	204,432			(6,202		)	198,230
Real estate tax stabilization agreement	111,506			(7,211		)	104,295

Schedule of amortization/accretion of these intangible assets and liabilities on net income from continuing operations

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Amortization/accretion effect on continuing operations	$	(86,755	)	$	(122,918	)	$	(192,587	)	$	(242,133	)