Mortgage and Other Indebtedness (Tables)

9 Months Ended

Sep. 30, 2011

Debt Disclosure [Abstract]

Schedule of mortgage and other indebtedness

Mortgage and other indebtedness consisted of the following:

	September 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)	$	4,047,205	5.63	%	$	3,664,293	5.85	%
Recourse term loans on operating properties	78,075		5.89	%	30,449		6.00	%
Total fixed-rate debt	4,125,280		5.64	%	3,694,742		5.85	%
Variable-rate debt:
Non-recourse term loans on operating properties	113,500		3.60	%	114,625		3.61	%
Recourse term loans on operating properties	285,067		2.36	%	350,106		2.28	%
Construction loans	57,061		3.25	%	14,536		3.32	%
Secured lines of credit	215,026		2.99	%	598,244		3.38	%
Unsecured term loans	437,214		1.60	%	437,494		1.66	%
Total variable-rate debt	1,107,868		2.35	%	1,515,005		2.65	%
Total	$	5,233,148	4.94	%	$	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 $118,641 as of September 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 September 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	$	364,708
2012	991,651
2013	554,866
2014	409,744
2015	813,499
Thereafter	2,098,321
	5,232,789
Net unamortized premiums	359
	$	5,233,148

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

As of September 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	$	133,305
Interest Rate Swaps	4	$	118,641

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 9/30/11			Fair Value at 12/31/10		Maturity Date
Pay fixed/ Receive  variable Swap	Accounts payable and accrued liabilities	$57,361 (amortizing to $48,337)	1-month LIBOR	2.149	%	$	(2,644	)	$	—	Apr 2016
Pay fixed/ Receive    variable Swap	Accounts payable and accrued liabilities	$35,905 (amortizing to $30,276)	1-month LIBOR	2.187	%	(1,709		)	—		Apr 2016
Pay fixed/ Receive    variable Swap	Accounts payable and accrued liabilities	$13,427 (amortizing to $11,313)	1-month LIBOR	2.142	%	(615		)	—		Apr 2016
Pay fixed/ Receive    variable Swap	Accounts payable and accrued liabilities	$11,948 (amortizing to $10,083)	1-month LIBOR	2.236	%	(592		)	—		Apr 2016
Cap	Intangible lease assets and other assets	$63,555	USD - SIFMA municipal swap index	1.00	%	1			—		Mar 2012
Cap	Intangible lease assets and other assets	$69,750 (amortizing to $69,375)	3-month LIBOR	3.00	%	—			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 into Earnings(Effective  Portion)	Loss Recognized in Earnings (Effective Portion)						Location of Gain Recognized in Earnings (Ineffective  Portion)	Gain Recognized in Earnings (Ineffective Portion)
Hedging Instrument	Three Months Ended September 30,						Three Months Ended September 30,							Three Months Ended September 30,
	2011			2010			2011			2010				2011		2010
Interest rate contracts	$	(3,393	)	$	1,054	Interest Expense	$	(668	)	$	(889	)	Interest Expense	$	—	$	7

	Gain (Loss) Recognized in OCI/L (Effective Portion)					Location of Losses Reclassified from AOCI/L into Earnings(Effective  Portion)	Loss Recognized in Earnings (Effective Portion)						Location of Gain Recognized in Earnings (Ineffective  Portion)	Gain Recognized in Earnings (Ineffective Portion)
Hedging Instrument	Nine Months Ended September 30,						Nine Months Ended September 30,							Nine Months Ended September 30,
	2011			2010			2011			2010				2011		2010
Interest rate contracts	$	(5,466	)	$	2,569	Interest Expense	$	(1,326	)	$	(2,773	)	Interest Expense	$	—	$	23

Schedule of Line of Credit Facilities [Table Text Block]

The following summarizes certain information about the secured lines of credit as of September 30, 2011:     

Total Capacity		Total Outstanding			Maturity Date	Extended Maturity Date
$	100,084	$	17,700		June 2013	N/A
525,000		47,130		(1)	February 2014	February 2015
520,000		150,196			April 2014	N/A
$	1,145,084	$	215,026

(1) There was an additional $4,870 outstanding on this secured line of credit as of September 30, 2011 for letters of credit.  Up to $50,000 of the capacity on this line can be used for letters of credit.