XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES      
Master lease rent $ 54,930 $ 52,262 $ 50,719
Property operating 222,039 189,778 176,375
Straight-line rent 4,771 2,627 2,135
Mortgage interest 6,973 2,377 2,646
Other operating 7,936 8,630 10,926
Total Revenue 296,649 255,674 242,801
EXPENSES      
General and administrative 20,991 16,891 22,467
Property operating 115,415 100,314 92,100
Impairment 6,697 1,259 22
Bad debt, net (249) (431) 535
Depreciation 78,088 66,393 59,794
Amortization 8,257 5,373 5,290
Total Expenses 222,502 189,799 180,186
OTHER INCOME (EXPENSE)      
Loss on extinguishment of debt (1,986) (480)  
Re-measurement gain of equity interest upon acquisition     2,701
Interest expense (76,038) (65,710) (43,080)
Interest and other income, net 820 2,403 1,028
Total other income (expense) (77,204) (63,787) (39,351)
INCOME (LOSS) FROM CONTINUING OPERATIONS (3,057) 2,088 23,264
DISCONTINUED OPERATIONS      
Income from discontinued operations 2,535 4,059 7,770
Impairments (6,697) (6,252) (22)
Gain on sales of real estate properties 7,035 8,352 20,136
INCOME FROM DISCONTINUED OPERATONS 2,873 6,159 27,884
NET INCOME (LOSS) (184) 8,247 51,148
Less: Net income attributable to noncontrolling interests (30) (47) (57)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (214) $ 8,200 $ 51,091
BASIC EARNINGS (LOSS) PER COMMON SHARE:      
Income (loss) from continuing operations $ (0.04) $ 0.03 $ 0.40
Discontinued operations $ 0.04 $ 0.10 $ 0.48
Net income (loss) attributable to common stockholders $ 0.00 $ 0.13 $ 0.88
DILUTED EARNINGS (LOSS) PER COMMON SHARE:      
Income (loss) from continuing operations $ (0.04) $ 0.03 $ 0.39
Discontinued operations $ 0.04 $ 0.10 $ 0.48
Net income (loss) attributable to common stockholders $ 0.00 $ 0.13 $ 0.87
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC 72,720,147 61,722,786 58,199,592
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED 72,720,147 62,770,826 59,047,314