Notes and Bonds Payable (Tables)

6 Months Ended

Jun. 30, 2011

Debt Instrument [Line Items]

Reconciliation of Mortgage Notes

	June 30,			December 31,
(Dollars in thousands)	2011			2010
Senior Notes due 2014 face value	$	264,737		$	264,737
Unaccreted discount		(439	)		(510	)
Senior Notes due 2014 carrying amount	$	264,298		$	264,227

	June 30,			December 31,
(Dollars in thousands)	2011			2010
Senior Notes due 2017 face value	$	300,000		$	300,000
Unaccreted discount		(1,660	)		(1,782	)
Senior Notes due 2017 carrying amount	$	298,340		$	298,218

	June 30,			December 31,
(Dollars in thousands)	2011			2010
Senior Notes due 2021 face value	$	400,000		$	400,000
Unaccreted discount		(3,070	)		(3,188	)
Senior Notes due 2021 carrying amount	$	396,930		$	396,812

	June 30,			December 31,
(Dollars in thousands)	2011			2010
Mortgage notes payable principal balance	$	175,023		$	176,638
Unaccreted discount, net of premium		(5,962	)		(6,351	)
Mortgage notes payable carrying amount	$	169,061		$	170,287

Notes and bonds payable details

	June 30,		Dec. 31,		Maturity		Contractual			Principal	Interest
(Dollars in thousands)	2011		2010		Dates		Interest Rates			Payments	Payments
Unsecured Credit Facility due 2012	$	123,000	$	—		9/12	LIBOR + 2.80%			At maturity	Quarterly
Senior Notes due 2011, including premium		—		278,311		—		8.125	%	At maturity	Semi-Annual
Senior Notes due 2014, net of discount		264,298		264,227		4/14		5.125	%	At maturity	Semi-Annual
Senior Notes due 2017, net of discount		298,340		298,218		1/17		6.500	%	At maturity	Semi-Annual
Senior Notes due 2021, net of discount		396,930		396,812		1/21		5.750	%	At maturity	Semi-Annual
Mortgage notes payable, net of discount and including premiums		169,061		170,287		4/13-10/30		5.000%-7.625	%	Monthly	Monthly
	$	1,251,629	$	1,407,855

Further details of the Company's mortgage notes payable

									Investment in
			Effective						Collateral at		Balance at
	Original		Interest			Maturity			June 30,		June 30,		Dec. 31,
(Dollars in millions)	Balance		Rate (13)			Date		Collateral (14)	2011		2011		2010
Life Insurance Co. (1)	$	4.7		7.765	%		1/17	MOB	$	11.5	$	2.1	$	2.2
Commercial Bank (2)		1.8		5.550	%		10/30	OTH		7.9		1.7		1.7
Life Insurance Co. (3)		15.1		5.490	%		1/16	MOB		32.7		13.3		13.5
Commercial Bank (4)		17.4		6.480	%		5/15	MOB		19.9		14.5		14.5
Commercial Bank (5)		12.0		6.110	%		7/15	2 MOBs		19.4		9.8		9.7
Commercial Bank (6)		15.2		7.650	%		7/20	MOB		20.2		12.8		12.8
Life Insurance Co. (7)		1.5		6.810	%		7/16	MOB		2.2		1.1		1.2
Commercial Bank (8)		12.9		6.430	%		2/21	MOB		20.5		11.4		11.5
Investment Fund (9)		80.0		7.250	%		12/16	15 MOBs		154.0		78.8		79.2
Life Insurance Co. (10)		7.0		5.530	%		1/18	MOB		14.5		3.8		4.0
Investment Co. (11)		15.9		6.550	%		4/13	MOB		23.3		15.4		15.6
Investment Co. (12)		4.6		5.250	%		9/15	MOB		6.9		4.4		4.4
									$	333.0	$	169.1	$	170.3

(1)	Payable in monthly installments of principal and interest based on a 20-year amortization with the final payment due at maturity.
(2)	Payable in monthly installments of principal and interest based on a 27-year amortization with the final payment due at maturity.
(3)	Payable in monthly installments of principal and interest based on a 10-year amortization with the final payment due at maturity.
(4)	Payable in monthly installments of principal and interest based on a 10-year amortization with the final payment due at maturity. The unaccreted portion of the $2.7 million discount recorded on this note upon acquisition is included in the balance above.
(5)	Payable in monthly installments of principal and interest based on a 10-year amortization with the final payment due at maturity. The unaccreted portion of the $2.1 million discount recorded on this note upon acquisition is included in the balance above.
(6)	Payable in monthly installments of interest only for 24 months and then installments of principal and interest based on an 11-year amortization with the final payment due at maturity. The unaccreted portion of the $2.4 million discount recorded on this note upon acquisition is included in the balance above.
(7)	Payable in monthly installments of principal and interest based on a 9-year amortization with the final payment due at maturity. The unaccreted portion of the $0.2 million discount recorded on this note upon acquisition is included in the balance above.
(8)	Payable in monthly installments of principal and interest based on a 12-year amortization with the final payment due at maturity. The unaccreted portion of the $1.0 million discount recorded on this note upon acquisition is included in the balance above.
(9)	Payable in monthly installments of principal and interest based on a 30-year amortization with a 7-year initial term (maturity 12/01/16) and the option to extend the initial term for two, one-year floating rate extension terms.
(10)	Payable in monthly installments of principal and interest based on a 15-year amortization with the final payment due at maturity. The Company acquired this mortgage note in an acquisition during the third quarter 2010.
(11)	Payable in monthly installments of principal and interest based on a 30-year amortization with the option to extend for three years at a fixed rate of 6.75%. The unamortized portion of the $0.5 million premium recorded on this note upon acquisition is included in the balance above.
(12)	Payable in monthly installments of principal and interest with a balloon payment of $4.0 million due at maturity.
(13)	The contractual interest rates ranged from 5.00% to 7.625% at June 30, 2011.
(14)	MOB-Medical office building; OTH-Other.

Future maturities of the Company's notes and bonds payable

	Principal		Net Accretion/			Notes and
(Dollars in thousands)	Maturities		Amortization (1)			Bonds Payable		%
2011 (remaining)	$	1,665	$	(720	)	$	945		0.1	%
2012 (2)		126,491		(1,508	)		124,983		10.0	%
2013		18,284		(1,738	)		16,546		1.3	%
2014		268,460		(1,786	)		266,674		21.3	%
2015		32,632		(1,443	)		31,189		2.5	%
2016 and thereafter		815,228		(3,936	)		811,292		64.8	%
	$	1,262,760	$	(11,131	)	$	1,251,629		100.0	%

(1)	Includes discount accretion and premium amortization related to the Company’s Senior Notes due 2014, Senior Notes due 2017, Senior Notes due 2021 and six mortgage notes payable.
(2)	Includes $123.0 million outstanding on the Company’s Unsecured Credit Facility.