Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue
Base rent	$ 41,452	$ 40,110	$ 123,053	$ 119,403
Expense recoveries	7,734	7,848	24,348	22,925
Percentage rent	187	215	1,092	1,153
Other	1,222	1,583	7,335	4,270
Total revenue	50,595	49,756	155,828	147,751
Operating expenses
Property operating expenses	6,316	6,106	20,039	18,096
Provision for credit losses	170	191	480	740
Real estate taxes	5,594	5,610	16,631	16,806
Interest expense and amortization of deferred debt costs	11,584	11,738	34,537	35,164
Depreciation and amortization of deferred leasing costs	10,256	10,492	30,745	39,316
General and administrative	3,837	3,501	12,540	10,830
Acquisition related costs	359	99	738	99
Predevelopment expenses	0	60	503	3,642
Total operating expenses	38,116	37,797	116,213	124,693
Operating income	12,479	11,959	39,615	23,058
Change in fair value of derivatives	1	46	(6)	107
Loss on early extinguishment of debt	0	(497)	0	(497)
Gain on sale of property	0	0	6,069	0
Net Income	12,480	11,508	45,678	22,668
Noncontrolling interests
Income attributable to noncontrolling interests	(2,374)	(2,110)	(9,231)	(1,692)
Net income attributable to Saul Centers, Inc.	10,106	9,398	36,447	20,976
Preferred stock redemption	0	0	0	(5,228)
Preferred stock dividends	(3,206)	(3,206)	(9,619)	(10,777)
Net income attributable to common stockholders	$ 6,900	$ 6,192	$ 26,828	$ 4,971
Per share net income attributable to common stockholders
Basic and diluted (in usd per share)	$ 0.33	$ 0.30	$ 1.29	$ 0.24
Dividends declared per common share outstanding (in usd per share)	$ 0.40	$ 0.36	$ 1.20	$ 1.08