Deferred Costs

6 Months Ended

Jun. 30, 2011

Deferred Costs [Abstract]

Deferred Costs

5. DEFERRED COSTS

As of June 30, 2011 and December 31, 2010, the Company’s deferred costs were comprised of the following (in thousands):

	June 30, 2011
			Accumulated			Deferred Costs,
	Total Cost		Amortization			net
Leasing Costs	$	133,734	$	(48,223	)	$	85,511
Financing Costs		39,605		(11,618	)		27,987
Total	$	173,339	$	(59,841	)	$	113,498

	December 31, 2010
			Accumulated			Deferred Costs,
	Total Cost		Amortization			net
Leasing Costs	$	123,724	$	(43,930	)	$	79,794
Financing Costs		37,257		(10,934	)		26,323
Total	$	160,981	$	(54,864	)	$	106,117

During the three and six-month periods ended June 30, 2011, the Company capitalized internal direct leasing costs of $1.7 million and $3.2 million, and $1.3 million and $3.1 million during the three and six-months ended June 30, 2010, respectively, in accordance with the accounting standard for the capitalization of leasing costs.