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ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)
 3 Months Ended
Mar. 31, 2012
ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract]  
Summary of Accounts Payable and Accrued Expenses
A summary of the Company's Accounts Payable and Accrued Expenses follows:
 
March 31, 2012
December 31, 2011
 
(In thousands)
     
Property taxes payable                                                                                  
$               5,518
          9,840
Development costs payable                                                                                  
6,086
5,928
Interest payable                                                                                  
2,958
2,736
Dividends payable on unvested restricted stock                                                                                  
1,282
1,415
Other payables and accrued expenses                                                                                  
4,041
11,286
 
$             19,885
        31,205