Consolidated Statements of Operations (USD $) In Thousands, except Per Share data	3 Months Ended				9 Months Ended
	Sep. 30, 2011		Sep. 30, 2010		Sep. 30, 2011		Sep. 30, 2010
Revenues:
Community base rental income	$ 87,149		$ 65,043		$ 219,740		$ 194,066
Resort base rental income	36,139		35,991		101,858		101,440
Right-to-use annual payments	12,444		12,554		37,019		37,628
Right-to-use contracts current period, gross	4,386		4,552		13,096		15,170
Right-to-use contracts, deferred, net of prior period amortization	(2,858)		(3,330)		(8,768)		(11,829)
Utility and other income	14,498		12,490		40,044		37,297
Gross revenues from home sales	1,636		1,765		4,281		4,759
Brokered resale revenues, net	141		237		608		718
Ancillary services revenues, net	1,134		1,262		2,261		2,458
Interest income	2,328		1,048		4,379		3,237
Income from other investments, net	4,394		2,583		6,242		5,244
Total revenues	161,391		134,195		420,760		390,188
Expenses:
Property operating and maintenance	56,451		51,495		148,417		141,947
Real estate taxes	10,304		7,938		26,522		24,578
Sales and marketing, gross	2,950		3,052		8,289		9,900
Sales and marketing, deferred commissions, net	(1,148)		(1,274)		(3,495)		(4,343)
Property management	9,201		8,373		25,857		24,906
Depreciation on real estate and other costs	21,689		17,096		56,201		50,959
Amortization of in-place leases	10,759				10,759
Cost of home sales	1,552		1,431		4,020		4,318
Home selling expenses	356		456		1,239		1,388
General and administrative	6,412		5,818		18,070		17,042
Transaction costs	15,216				17,333
Rent control initiatives	211		106		799		1,119
Depreciation on corporate assets	256		246		759		835
Interest and related amortization	26,084		22,465		68,931		69,221
Total expenses	160,293		117,202		383,701		341,870
Income before equity in income of unconsolidated joint ventures	1,098		16,993		37,059		48,318
Equity in income of unconsolidated joint ventures	257		314		1,582		1,714
Consolidated income from continuing operations	1,355		17,307		38,641		50,032
Discontinued Operations:
Loss from discontinued operations							(231)
Consolidated net income	1,355		17,307		38,641		49,801
Loss (income) allocated to non-controlling interests-Common OP Units	289		(1,722)		(3,121)		(5,083)
Income allocated to non-controlling interests - Perpetual Preferred OP Units			(4,031)		(2,801)		(12,101)
Net (loss) income available for Common Shares	(2,853)		11,554		22,934		32,617
Earnings per Common Share - Basic:
(Loss) income from continuing operations available for Common Shares	$ (0.07)		$ 0.38		$ 0.67		$ 1.08
Loss from discontinued operations							$ (0.01)
Net (loss) income available for Common Shares	$ (0.07)		$ 0.38		$ 0.67		$ 1.07
Earnings per Common Share - Fully Diluted:
(Loss) income from continuing operations available for Common Shares	$ (0.07)		$ 0.37		$ 0.67		$ 1.07
Loss from discontinued operations							$ (0.01)
Net (loss) income available for Common Shares	$ (0.07)	[1]	$ 0.37	[1]	$ 0.67	[1]	$ 1.06	[1]
Distributions declared per Common Share outstanding	$ 0.375		$ 0.300		$ 1.125		$ 0.900
Weighted average Common Shares outstanding - basic	38,346		30,620		34,017		30,447
Weighted average Common Shares outstanding - fully diluted	43,602	[2]	35,530	[2]	38,858	[2]	35,491	[2]
8.034% Series A Cumulative Redeemable Perpetual Preferred Stock
Earnings per Common Share - Fully Diluted:
Redeemable Preferred Stock Dividends	(4,031)				(9,319)
Series B Subordinated Non-Voting Cumulative Redeemable Preferred Stock
Earnings per Common Share - Fully Diluted:
Redeemable Preferred Stock Dividends	$ (466)				$ (466)

[1] During the three months ended September 30, 2011, the Company reported a net loss available to common shares. As a result of the net loss, the Company's unvested restricted stock, common OP Units and Series B Preferred Stock were anti-dilutive, and therefore earnings per common share-fully diluted is computed in the same manner as earnings per common share-basic.

[2] During the three months ended September 30, 2011, the Company reported a net loss available for common shares. As a result of the net loss, the Company's unvested restricted stock, common OP Units and Series B Preferred Stock were anti-dilutive, and therefore earnings per common share-fully diluted is computed in the same manner as earnings per share-basic.