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Mortgage and Other Indebtedness (Tables)

6 Months Ended

Jun. 30, 2011

Mortgage and Other Indebtedness [Abstract]

Schedule of mortgage and other indebtedness

Mortgage and other indebtedness consisted of the following:

	June 30, 2011					December 31, 2010
	Amount		Weighted Average Interest Rate (1)			Amount		Weighted Average Interest Rate (1)
Fixed-rate debt:
Non-recourse loans on operating properties (2)	$	4,036,062		5.65	%	$	3,664,293		5.85	%
Recourse term loans on operating properties		42,982		5.50	%		30,449		6.00	%
Total fixed-rate debt		4,079,044		5.65	%		3,694,742		5.85	%
Variable-rate debt:
Non-recourse term loans on operating properties		113,875		3.61	%		114,625		3.61	%
Recourse term loans on operating properties		339,494		2.51	%		350,106		2.28	%
Construction loans		41,774		3.21	%		14,536		3.32	%
Secured lines of credit		182,696		3.34	%		598,244		3.38	%
Unsecured term loans		437,214		1.55	%		437,494		1.66	%
Total variable-rate debt		1,115,053		2.41	%		1,515,005		2.65	%
Total	$	5,194,097		4.95	%	$	5,209,747		4.92	%

(1)	Weighted-average interest rate includes the effect of debt premiums (discounts), but excludes amortization of deferred financing costs.
(2)	The Company has four interest rate swaps on notional amounts totaling $119,556 as of June 30, 2011 related to its variable-rate loans on operating properties to effectively fix the interest rate on the respective loans. Therefore, these amounts are reflected in fixed-rate debt in 2011.

Schedule of principal repayments

As of June 30, 2011, the scheduled principal payments of the Company's consolidated debt, excluding extensions available at the Company's option, on all mortgage and other indebtedness, including construction loans and lines of credit, are as follows:

2011	$	705,701
2012		870,929
2013		470,489
2014		148,920
2015		791,387
Thereafter		2,205,705
		5,193,131
Net unamortized premiums		966
	$	5,194,097

Schedule of interest rate derivatives designated as cash flow hedges of interest rate risk

As of June 30, 2011, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments		Notional Amount Outstanding
Interest Rate Caps		2	$	133,680
Interest Rate Swaps		4	$	119,556

Schedule of pay fixed/receive variable swap

Instrument Type	Location in Consolidated Balance Sheet	Outstanding Notional Amount	Designated Benchmark Interest Rate	Strike Rate			Fair Value at 6/30/11			Fair Value at 12/31/10		Maturity Date
Pay fixed/ Receive variable Swap	Accounts payable and accrued liabilities	$57,805 (amortizing to $48,337)	1-month LIBOR		2.149	%	$	(968	)	$	-	Apr-2016
Pay fixed/ Receive variable Swap	Accounts payable and accrued liabilities	$36,181 (amortizing to $30,276)	1-month LIBOR		2.187	%		(663	)		-	Apr-2016
Pay fixed/ Receive variable Swap	Accounts payable and accrued liabilities	$13,531 (amortizing to $11,313)	1-month LIBOR		2.142	%		(223	)		-	Apr-2016
Pay fixed/ Receive variable Swap	Accounts payable and accrued liabilities	$12,039 (amortizing to $10,083)	1-month LIBOR		2.236	%		(245	)		-	Apr-2016
Cap	Intangible lease assets and other assets	$63,555	USD - SIFMA municipal swap index		1.000	%		3			-	Mar-2012
Cap	Intangible lease assets and other assets	$70,125 (amortizing to $69,375)	3-month LIBOR		3.000	%		-			3	Jan-2012

Schedule of gain (loss) recognized in other comprehensive income (loss)

	Gain (Loss) Recognized in OCI/L (Effective Portion)					Location of Losses Reclassified from AOCI/L	Loss Recognized in Earnings (Effective Portion)						Location of Gain Recognized	Gain Recognized in Earnings (Ineffective Portion)
Hedging	Three Months Ended June 30,					into Earnings(Effective	Three Months Ended June 30,						in Earnings (Ineffective	Three Months Ended June 30,
Instrument	2011			2010		Portion)	2011			2010			Portion)	2011		2010
Interest rate contracts	$	(2,634	)	$	906	Interest Expense	$	(636	)	$	(941	)	Interest Expense	$	-	$	8

	Gain (Loss) Recognized in OCI/L (Effective Portion)				Location of Losses Reclassified from AOCI/L	Loss Recognized in Earnings (Effective Portion)						Location of Gain Recognized	Gain Recognized in Earnings (Ineffective Portion)
Hedging	Six Months Ended June 30,				into Earnings(Effective	Six Months Ended June 30,						in Earnings (Ineffective	Six Months Ended June 30,
Instrument	2011		2010		Portion)	2011			2010			Portion)	2011		2010
Interest rate contracts	$	(2,072)	$	1,515	Interest Expense	$	(658	)	$	(1,884	)	Interest Expense	$	-	$	16

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

+ Details

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details