ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

9 Months Ended

Sep. 30, 2012

Payables and Accruals [Abstract]

Summary of Accounts Payable and Accrued Expenses

A summary of the Company’s Accounts Payable and Accrued Expenses follows:

	September 30, 2012		December 31, 2011
	(In thousands)
Property taxes payable	$	18,585	9,840
Development costs payable	6,000		5,928
Interest payable	2,629		2,736
Dividends payable on unvested restricted stock	1,582		1,415
Other payables and accrued expenses	5,270		11,286
	$	34,066	31,205