ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2012

Payables and Accruals [Abstract]

Summary of Accounts Payable and Accrued Expenses

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

	December 31,
	2012		2011
	(In thousands)
Property taxes payable	$	12,107	9,840
Development costs payable	7,170		5,928
Interest payable	2,615		2,736
Dividends payable on unvested restricted stock	1,191		1,415
Other payables and accrued expenses	5,831		11,286
Total Accounts Payable and Accrued Expenses	$	28,914	31,205