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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Consolidated net income $ 109,825 $ 51,231 $ 30,875
Adjustments to reconcile net income to net cash provided by operating activities:      
Retail revenue accretion (31) 0 0
Depreciation and amortization 132,195 119,329 106,692
Stock compensation expense 2,233 5,519 3,013
Redeemable stock issued 546 494 387
Amortization of debt premium (767) (360) (360)
Loss from investments in real estate joint ventures 223 593 1,149
Loss on debt extinguishment 1,012 755 0
Derivative interest expense 827 543 321
Gain on sale of non-depreciable assets (45) (910) 0
(Gain) loss on sale of discontinued operations (41,635) (12,799) 2
Asset impairment 0 0 1,914
Net casualty (gain) loss and other settlement proceeds (42) 619 (330)
Gain on properties contributed to joint ventures 0 0 (752) [1]
Changes in assets and liabilities:      
Restricted cash 554 152 (953)
Other assets (1,395) (1,356) (5,529)
Accounts payable 2,495 265 109
Accrued expenses and other 4,613 8,596 (649)
Security deposits 359 (383) (2,095)
Net cash provided by operating activities 210,967 172,288 133,794
Cash flows from investing activities:      
Purchases of real estate and other assets (312,001) (362,745) (278,810)
Normal capital improvements (47,222) (46,947) (26,505)
Construction capital and other improvements (3,636) (5,190) (2,577)
Renovations to existing real estate assets (14,420) (12,680) (9,925)
Development (73,991) (38,153) (16,394)
Distributions from real estate joint ventures 12,164 1,402 1,735
Contributions to real estate joint ventures (218) (1,510) (12,130)
Proceeds from disposition of real estate assets 110,101 23,663 90,335
Net cash used in investing activities (329,223) (442,160) (254,271)
Cash flows from financing activities:      
Net change in credit lines (320,064) (121,533) (35,000)
Proceeds from notes payable 325,000 285,350 137,881
Principal payments on notes payable (12,944) (13,895) (1,924)
Payment of deferred financing costs (3,616) (4,641) (7,245)
Repurchase of common stock (1,990) (2,548) (1,175)
Proceeds from issuances of common shares 196,325 235,741 305,526
Distributions to noncontrolling interests (4,948) (5,199) (5,684)
Dividends paid on common shares (107,749) (92,028) (77,135)
Dividends paid on preferred shares 0 0 (7,622)
Redemption of preferred stock 0 0 (155,022)
Net cash provided by financing activities 70,014 281,247 152,600
Net (decrease) increase in cash and cash equivalents (48,242) 11,375 32,123
Cash and cash equivalents, beginning of period 57,317 45,942 13,819
Cash and cash equivalents, end of period 9,075 57,317 45,942
Supplemental disclosure of cash flow information:      
Interest paid 60,950 59,655 56,596
Supplemental disclosure of noncash investing and financing activities:      
Conversion of units to shares of common stock 3,459 3,069 1,266
Accrued construction in progress 3,449 8,599 3,139
Interest capitalized 2,318 1,156 66
Marked-to-market adjustment on derivative instruments 10,875 13,084 (1,839)
Reclassification of redeemable stock to liabilities 0 152 272
Fair value adjustment on debt assumed 2,578 0 0
Debt assumed $ 30,290 $ 0 $ 0
[1] The 2010 column shows the segment break down based on the 2011 same store portfolios. A comparison using the 2012 same store portfolio would not be comparative due to the nature of the classifications.