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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Land $ 252,039 $ 222,167
Building and improvements 936,514 876,588
Construction in progress 2,871 4,236
[RealEstateInvestmentPropertyAtCost] 1,191,424 1,102,991
Less: accumulated depreciation 199,982 185,878
Net operating real estate 991,442 917,113
Real estate under development 237,373 243,892
Notes receivable, net 45,457 89,202
Investments in and advances to unconsolidated affiliates 68,523 31,036
Cash and cash equivalents 148,859 120,592
Cash in escrow 30,831 28,610
Rents receivable, net 21,646 17,621
Deferred charges, net 24,345 23,715
Acquired lease intangibles, net 20,808 18,622
Prepaid expenses and other assets 23,583 22,354
Assets of discontinued operations 0 12,049
Total assets 1,612,867 1,524,806
LIABILITIES    
Mortgage notes payable 831,320 806,212
Convertible notes payable, net of unamortized discount of $523 and $1,063, respectively 39,221 48,712
Distributions in excess of income from, and investments in, unconsolidated affiliates 21,356 20,884
Accounts payable and accrued expenses 36,336 27,648
Dividends and distributions payable 7,506 7,427
Acquired lease and other intangibles, net 5,867 5,737
Other liabilities 16,963 20,492
Liabilities of discontinued operations 0 172
Total liabilities 958,569 937,284
Shareholders’ equity    
Common shares, $.001 par value, authorized 100,000,000 shares; issued and outstanding 40,331,366 and 40,254,525 shares, respectively 40 40
Additional paid-in capital 303,536 303,823
Accumulated other comprehensive loss (2,350) (2,857)
Retained earnings 42,346 17,206
Total shareholders’ equity 343,572 318,212
Noncontrolling interests 310,726 269,310
Total equity 654,298 587,522
Total liabilities and equity $ 1,612,867 $ 1,524,806