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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
REVENUES                      
Rental income                 $ 318,294 $ 288,787 $ 263,740
Mortgage interest                 12,701 9,186 6,973
Other operating                 5,931 6,101 7,885
Total Revenue 90,116 [1] 84,311 [2] 82,062 [3] 80,437 [4] 78,250 [5] 76,481 [6] 75,487 [7] 73,856 [8] 336,926 304,074 278,598
EXPENSES                      
Property operating                 125,565 116,470 112,152
General and administrative                 23,729 20,905 20,988
Depreciation                 88,380 81,966 72,036
Amortization                 10,645 10,418 8,105
Bad debt, net of recoveries                 184 241 (251)
Total Expenses                 248,503 230,000 213,030
OTHER INCOME (EXPENSE)                      
Loss on extinguishment of debt     (29,900)           (29,638)    (1,986)
Interest expense                 (73,511) (74,955) (75,938)
Gain on sale of cost method investment in real estate                 1,492 0 0
Interest and other income, net                 966 976 813
Total other income (expense)                 (100,691) (73,979) (77,111)
INCOME (LOSS) FROM CONTINUING OPERATIONS 9,888 [1] 4,703 [2] (27,701) [3] 842 [4] (1,467) [5] 635 [6] 875 [7] 52 [8] (12,268) 95 (11,543)
DISCONTINUED OPERATIONS                      
Income from discontinued operations                 4,422 9,474 11,021
Impairments                 (9,889) (14,908) (6,697)
Gain on sales of real estate properties 2,700 20,200 1,800   1,200 6,300   3,400 24,718 10,874 7,035
INCOME FROM DISCONTINUED OPERATIONS 2,568 [1] 15,080 [2] 3,463 [3] (1,860) [4] (4,895) [5] 5,200 [6] 2,053 [7] 3,082 [8] 19,251 5,440 11,359
NET INCOME (LOSS) 12,456 [1] 19,783 [2] (24,238) [3] (1,018) [4] (6,362) [5] 5,835 [6] 2,928 [7] 3,134 [8] 6,983 5,535 (184)
Less: Net income attributable to noncontrolling interests (72) [1] (17) [2] 33 [3] 19 [4] (29) [5] (21) [6] (20) [7] 0 [8] (37) (70) (30)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 12,384 [1] $ 19,766 [2] $ (24,205) [3] $ (999) [4] $ (6,391) [5] $ 5,814 [6] $ 2,908 [7] $ 3,134 [8] $ 6,946 $ 5,465 $ (214)
BASIC EARNINGS (LOSS) PER COMMON SHARE:                      
Income (loss) from continuing operations (in dollars per share)                 $ (0.13) $ 0.00 $ (0.16)
Discontinued operations (in dollars per share)                 $ 0.21 $ 0.07 $ 0.16
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.13 [1] $ 0.21 [2] $ (0.27) [3] $ (0.01) [4] $ (0.07) [5] $ 0.08 [6] $ 0.04 [7] $ 0.04 [8] $ 0.08 $ 0.07 $ 0.00
DILUTED EARNINGS (LOSS) PER COMMON SHARE:                      
Income (loss) from continuing operations (in dollars per share)                 $ (0.13)    $ (0.16)
Discontinued operations (in dollars per share)                 $ 0.21 $ 0.07 $ 0.16
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.13 [1] $ 0.21 [2] $ (0.27) [3] $ (0.01) [4] $ (0.07) [5] $ 0.07 [6] $ 0.04 [7] $ 0.04 [8] $ 0.08 $ 0.07 $ 0.00
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)                 90,940,627 78,844,840 72,720,147
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)                 90,940,627 80,127,883 72,720,147
[1] The increases in net income and amounts per share for the fourth quarter of 2013 are primarily attributable to gains on sales of real estate totaling $2.7 million.
[2] The increases in net income and amounts per share for the third quarter of 2013 are primarily attributable to gains on sales of real estate totaling $20.2 million, partially offset by impairment charges of $6.3 million.
[3] The decreases in net income and amounts per share for the second quarter of 2013 are primarily attributable to losses of extinguishment of debt of $29.9 million, of which $0.3 million is included in discontinued operations. This amount is partially offset by gains on sales of real estate totaling $1.8 million.
[4] The decreases in net income and amounts per share for the first quarter of 2013 are primarily attributable to impairment charges of $3.6 million.
[5] The decreases in net income and amounts per share for the fourth quarter of 2012 are primarily attributable to impairment charges of $7.7 million. This amount is partially offset by gains on sales of real estate totaling $1.2 million.
[6] The increases in net income and amounts per share for the third quarter of 2012 are primarily attributable to gains on sales of real estate totaling $6.3 million, partially offset by impairment charges of $2.9 million.
[7] The decreases in net income and amounts per share for the second quarter of 2012 are primarily attributable to impairment charges of $0.2 million.
[8] The increases in net income and amounts per share for the first quarter of 2012 are primarily attributable to gains on sales of real estate totaling $3.4 million and a lease termination fee totaling $1.5 million which is included in discontinued operations. This amount is partially offset by impairment charges of $4.2 million.