Business Combinations (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Transactions Related To Business Combinations

The following table summarizes the transaction related to the business combination, including the assets acquired and liabilities assumed as indicated (in thousands):

	April 13, 2011
Fair value of our equity interest before business combinations	$	7,578
Fair value of consideration transferred (1)	$	11,462
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	32,807
Unamortized debt and lease costs	2,421
Accrued rent and accounts receivable	211
Cash and cash equivalents	1,402
Other, net	694
Liabilities:
Accounts payable and accrued expenses	(137		)
Other, net	(318		)
Total net assets	$	37,080
Noncontrolling interests of the real estate joint venture	$	—

_______________

(1) Consideration included $.5 million of cash and $11.0 million in debt reimbursement.

Transactions Related To Acquisitions

The following table summarizes the transactions related to these acquisitions, including the assets acquired and liabilities assumed as indicated (in thousands):

	June 30, 2012
Fair value of consideration transferred	$	104,460
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	97,703
Unamortized debt and lease costs	7,910
Other, net	531
Liabilities:
Accounts payable and accrued expenses	(1,812		)
Other, net	(1,824		)
Total net assets	$	102,508
Acquisition costs (included in operating expenses)	$	398

Schedule Of Impact To Revenues And Net Income

The following table summarizes the impact to revenues and net income attributable to common shareholders from our acquisitions as follows (in thousands):

	Three Months Ended June 30, 2012		Six Months Ended June 30, 2012
Increase in revenues	$	209	$	242
Increase in net income attributable to common shareholders	133		148

Pro Forma Impact Of Business Combination And Acquisitions

The following table summarizes the pro forma impact of these transactions as if they had been consolidated or acquired on January 1, 2011, the earliest year presented, as follows (in thousands, except per share amounts):

	Three Months Ended June 30,					Six Months Ended June 30,
	Pro Forma 2012(1)		Pro Forma 2011(1)			Pro Forma 2012(1)		Pro Forma 2011(1)
Revenues	$	127,489	$	125,405		$	250,967	$	245,549
Net income	33,871		3,713			57,720		21,720
Net income (loss) attributable to common shareholders	23,660		(6,392		)	37,199		1,654
Earnings per share – basic	0.20		(0.05		)	0.31		0.01
Earnings per share – diluted	0.19		(0.05		)	0.31		0.01

_______________

(1) There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.