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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues      
Rental income $ 99,697 $ 80,140 $ 75,082
Interest income 7,879 11,429 19,161
Expense reimbursements 24,385 21,141 19,883
Management fee income 1,455 1,674 1,424
Other 1,009 694 840
Total revenues 134,425 115,078 116,390
Operating Expenses      
Property operating 21,991 17,513 19,508
Other operating 3,898 1,455 0
Real estate taxes 18,811 15,320 14,006
General and administrative 21,532 23,066 20,209
Depreciation and amortization 32,931 25,672 23,419
Reserve for notes receivable 405 0 0
Total operating expenses 99,568 83,026 77,142
Operating income 34,857 32,052 39,248
Equity in earnings of unconsolidated affiliates 550 1,555 12,450
Gain (loss) on sale of unconsolidated affiliates 3,061 0 (1,479)
Impairment of unconsolidated affiliates (2,032) 0 0
Other interest income 148 276 406
Gain from bargain purchase 0 0 33,805
Gain on involuntary conversion of asset 2,368 0 0
(Loss) gain on debt extinguishment (198) 1,268 0
Interest and other finance expense (28,768) (29,632) (34,414)
Income from continuing operations before income taxes 9,986 5,519 50,016
Income tax benefit (provision) 568 (461) (2,869)
Income from continuing operations 10,554 5,058 47,147
Discontinued operations      
Operating income from discontinued operations 10,720 8,752 3,520
Impairment of asset 0 (6,925) 0
Loss on debt extinguishment (2,541) 0 0
Gain on sale of property 71,203 46,830 0
Income from discontinued operations 79,382 48,657 3,520
Net income 89,936 53,715 50,667
Noncontrolling interests      
Continuing operations 13,480 13,655 (18,914)
Discontinued operations (63,710) (15,815) (1,696)
Net income attributable to noncontrolling interests (50,230) (2,160) (20,610)
Net income attributable to Common Shareholders $ 39,706 $ 51,555 $ 30,057
Basic earnings per share      
Income from continuing operations (in dollars per share) $ 0.51 $ 0.45 $ 0.69
Income from discontinued operations (in dollars per share) $ 0.34 $ 0.80 $ 0.04
Basic earnings per share (in dollars per share) $ 0.85 $ 1.25 $ 0.73
Diluted earnings per share      
Income from continuing operations (in dollars per share) $ 0.51 $ 0.45 $ 0.69
Income from discontinued operations (in dollars per share) $ 0.34 $ 0.80 $ 0.04
Diluted earnings per share (in dollars per share) $ 0.85 $ 1.25 $ 0.73