<SEC-DOCUMENT>0001157523-14-000429.txt : 20140205
<SEC-HEADER>0001157523-14-000429.hdr.sgml : 20140205
<ACCEPTANCE-DATETIME>20140205160833
ACCESSION NUMBER:		0001157523-14-000429
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140205
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20140205
DATE AS OF CHANGE:		20140205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KIMCO REALTY CORP
		CENTRAL INDEX KEY:			0000879101
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				132744380
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10899
		FILM NUMBER:		14576252

	BUSINESS ADDRESS:	
		STREET 1:		3333 NEW HYDE PARK RD
		STREET 2:		PO BOX 5020
		CITY:			NEW HYDE PARK
		STATE:			NY
		ZIP:			11042
		BUSINESS PHONE:		5168699000

	MAIL ADDRESS:	
		STREET 1:		3333 NEW HYDE PARK ROAD
		STREET 2:		PO BOX 5020
		CITY:			NEW HYDE PARKQ
		STATE:			NY
		ZIP:			11042
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50798159.htm
<DESCRIPTION>KIMCO REALTY CORPORATION 8-K
<TEXT>
<html>
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    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported)</font><br><font style="font-size: 10pt; font-family: Times New Roman">February
      5, 2014</font><br><br><u><font style="font-size: 18pt; font-family: Times New Roman"><b>Kimco
      Realty Corporation</b></font></u><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Maryland</u>
          </p>
        </td>
        <td style="padding-right: 0.0px; text-align: center; width: 34%; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>1-10899</u>
          </p>
        </td>
        <td style="padding-right: 0.0px; text-align: center; width: 33%; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>13-2744380</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Of Incorporation)
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 41%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            3333 New Hyde Park Road
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Suite 100
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>New Hyde Park, NY</u>
          </p>
        </td>
        <td style="width: 26%">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: center; width: 33%; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>11042</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 41%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of Principal</font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">Executive
            Offices)</font>
          </p>
        </td>
        <td style="width: 26%">

        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      Registrant&#8217;s telephone number, including area code: (516) 869-9000<br><br><b>No
      Change</b><br><font style="font-size: 10pt; font-family: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font><br><br>
    </p>
    <p>
      <!--end_optional_former-->
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Item 2.02. Results of Operations and Financial Condition</b>
    </p>
    <p style="text-indent: 60.0px">
      The information contained in this Item 2.02 of the Current Report on
      Form 8-K of Kimco Realty Corporation (the &#8220;Company&#8221;) is being furnished
      pursuant to &#8220;Item 2.02 &#8211; Results of Operations and Financial Condition&#8221;
      and &#8220;Item 7.01 &#8211; Regulation FD Disclosure&#8221; of Form 8-K.
    </p>
    <p style="text-indent: 60.0px">
      On February 5, 2014, Kimco Realty Corporation issued a press release
      announcing its financial results for the quarter and year ended December
      31, 2013.&#160;&#160;A copy of the press release is furnished as Exhibit 99.1 to
      this report.
    </p>
    <p style="text-indent: 60.0px">
      A copy of the Company&#8217;s press release is an exhibit to this Current
      Report on Form 8-K and is not being filed for purposes of Section 18 of
      the Securities Exchange Act of 1934, as amended.&#160;&#160;The information in
      this Current Report on Form 8-K, including the exhibit, shall not be
      deemed to be incorporated by reference into any filing of the Company,
      whether made before or after the date hereof, regardless of any general
      incorporation language in such filing.
    </p>
    <p>

    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the Registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="6">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>KIMCO REALTY CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="3">

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 6%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 44%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 3%; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>By:</i>
          </p>
        </td>
        <td style="text-align: left; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>/s/ Glenn G. Cohen</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Name:</i>
          </p>
        </td>
        <td style="text-align: left; width: 25%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Glenn G. Cohen</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Title:</i>
          </p>
        </td>
        <td style="text-align: left; width: 25%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Chief Financial Officer</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 6%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Dated:</i>
          </p>
        </td>
        <td style="text-align: left; width: 44%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>February 5, 2014</i>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><b>EXHIBIT&#160;INDEX</b></u><br><br>
    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 15%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="text-align: left; width: 85%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="text-align: left; width: 85%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: center; width: 15%; white-space: nowrap; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="text-align: left; width: 85%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release, dated February 5, 2014 issued by Kimco Realty
            Corporation
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
  </body>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50798159ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2014 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Kimco
      Realty Announces Fourth Quarter and Full Year 2013 Operating Results;
      Reports a 5.6% Increase in FFO as Adjusted in 2013; Portfolio Metrics
      Strong with Occupancy Reaching a Five-Year High</b></font>
    </p>
    <p>
      NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--February 5, 2014--Kimco Realty
      Corp. (NYSE:KIM) today reported results for the fourth quarter and year
      ended December 31, 2013.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Highlights for the
      Fourth Quarter and Full Year 2013:</b></font></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Reported funds from operations (FFO) of $0.33 per diluted share for
        the fourth quarter of 2013 and $1.35 per diluted share for the full
        year 2013, representing increases of 6.5% and 8.0%, respectively, over
        the same periods in 2012;
      </li>
      <li style="margin-bottom: 10.0px">
        U.S. same-property net operating income (NOI) increased 4.1% for the
        fourth quarter and 3.8% for the full year 2013;
      </li>
      <li style="margin-bottom: 10.0px">
        Pro-rata occupancy increased 100 basis points in the U.S. shopping
        center portfolio to 94.9%, and 70 basis points in the combined
        shopping center portfolio to 94.5%, compared to the fourth quarter of
        2012, representing the highest occupancy levels since the third
        quarter of 2008;
      </li>
      <li style="margin-bottom: 10.0px">
        Continued to transform consolidated U.S. retail portfolio during 2013:
        Acquired 18 high-quality retail properties, primarily in the company&#8217;s
        key territories, for a gross price of $348.9 million, while disposing
        of 23 non-core, wholly owned properties for a gross price of $152.2
        million;
      </li>
      <li style="margin-bottom: 10.0px">
        Continued to simplify the business model in 2013 by reducing exposure
        to Latin America and reducing the number of joint venture properties:
        Monetized 112 Latin American properties for a gross amount of $1.1
        billion; disposed of 12 U.S. retail joint venture properties for a
        gross sales price of $197.5 million; and purchased five joint venture
        properties for a total price of $291.4 million; and
      </li>
      <li style="margin-bottom: 10.0px">
        Significantly expanded the redevelopment pipeline in 2013: Increased
        the overall redevelopment pipeline to a total of 262 projects with a
        gross cost of approximately $778 million.
      </li>
    </ul>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Financial Results</b></font></u>
    </p>
    <p>
      Net income available to common shareholders for the fourth quarter of
      2013 was $47.0 million, or $0.11 per diluted share, compared to $59.2
      million, or $0.14 per diluted share, for the fourth quarter of 2012. Net
      income available to common shareholders during the fourth quarter of
      2013 included $22.0 million of gains on sales of operating properties
      and $20.7 million of impairments attributable to the sale or pending
      disposition of operating properties. This compares to $53.9 million of
      gains on the sales of operating properties and $26.4 million of
      impairments during the fourth quarter of 2012. Both operating property
      impairments and gains on sales are excluded from the calculation of FFO.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      For the full year 2013, net income available to common shareholders was
      $178.0 million, or $0.43 per diluted share, compared to $172.7 million,
      or $0.42 per diluted share, for the full year 2012. Net income available
      to common shareholders for the full year 2013 included $159.3 million of
      gains on sales of operating properties and $165.8 million of impairments
      attributable to the sale or pending disposition of operating properties.
      This compares to $112.8 million of gains on the sales of operating
      properties and $59.5 million of impairments during the fourth quarter of
      2012.
    </p>
    <p>
      FFO, a widely accepted supplemental measure of REIT performance, was
      $134.7 million, or $0.33 per diluted share, for the fourth quarter of
      2013 compared to $127.2 million, or $0.31 per diluted share, for the
      fourth quarter of 2012.
    </p>
    <p>
      For the full year 2013, FFO was $552.5 million, or $1.35 per diluted
      share, compared to $510.4 million, or $1.25 per diluted share, for the
      same period last year, representing an 8.0% increase on a diluted per
      share basis.
    </p>
    <p>
      FFO as adjusted (recurring), which excludes the effects of non-operating
      impairments and transactional income and expenses, was $134.8 million,
      or $0.33 per diluted share, for the fourth quarter of 2013 compared to
      $134.8 million, or $0.33 per diluted share, for the fourth quarter of
      2012. FFO as adjusted for the fourth quarter of 2013 was flat year over
      year primarily due to the disposition of Kimco&#8217;s investment in the
      American Industries industrial portfolio as well as the InTown Suites
      extended stay portfolio during 2013.
    </p>
    <p>
      For the full year 2013, FFO as adjusted was $543.7 million, or $1.33 per
      diluted share, compared to $514.2 million, or $1.26 per diluted share,
      for the same period in 2012, representing a 5.6% increase on a diluted
      per share basis.
    </p>
    <p>
      A reconciliation of net income to FFO and FFO as adjusted is provided in
      the tables accompanying this press release.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Shopping Center
      Operating Results</b></font></u>
    </p>
    <p>
      Fourth quarter 2013 shopping center portfolio operating results:
    </p>
    <p>
      <u>U.S. Shopping Center Portfolio</u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Pro-rata occupancy was 94.9%, an increase of 50 basis points
        sequentially and 100 basis points over the fourth quarter of 2012;
      </li>
      <li style="margin-bottom: 10.0px">
        U.S. same-property NOI increased 4.1%, which includes a 30 basis point
        positive impact from the inclusion of redevelopments, compared to the
        same period in 2012; and
      </li>
      <li style="margin-bottom: 10.0px">
        Pro-rata U.S. cash-basis leasing spreads increased 5.9%; new leases
        increased 8.2%, and renewals/options increased 5.2%.
      </li>
    </ul>
    <p>
      The U.S. shopping center portfolio&#8217;s pro-rata occupancy for anchor space
      (10,000 square feet and greater) and small shop space (less than 10,000
      square feet) both increased by 50 basis points sequentially and 100
      basis points from the fourth quarter of 2012; the pro-rata occupancy for
      anchor space and small shop space at December 31, 2013 was 97.9% and
      85.2%, respectively. In addition, the U.S. same-property NOI for the
      full year 2013 increased 3.8%, with no impact from the inclusion of
      redevelopments.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Combined Shopping Center Portfolio (includes U.S., Canada and Latin
      America)</u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Pro-rata occupancy was 94.5%, an increase of 50 basis points
        sequentially and 70 basis points over the fourth quarter of 2012;
      </li>
      <li style="margin-bottom: 10.0px">
        Combined same-property NOI increased 3.4% over same period in 2012
        (4.1% when excluding foreign currency), representing the fifteenth
        consecutive quarterly increase; and
      </li>
      <li style="margin-bottom: 10.0px">
        Total leases executed in the combined portfolio: 618 new leases,
        renewals and options totaling 2.3 million square feet (a 21% increase
        in the total square footage signed compared to the fourth quarter of
        2012).
      </li>
    </ul>
    <p>
      For the full year 2013, combined same-property NOI was 3.5% (3.8% when
      excluding foreign currency). Kimco reports same-property NOI on a cash
      basis, excluding lease termination fees and including charges for bad
      debts.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Investment Activity</b></font></u>
    </p>
    <p>
      <i><b>Acquisitions:</b></i>
    </p>
    <p>
      As previously announced, during the fourth quarter Kimco purchased 14
      retail properties in the U.S. for its wholly owned portfolio, totaling
      more than 1.5 million square feet, for a gross purchase price of $247.5
      million, including $39.8 million of mortgage debt.
    </p>
    <p>
      During 2013, the company continued its portfolio transformation by
      acquiring 23 high-quality U.S. retail properties, including five from
      existing joint ventures, comprising 3.1 million square feet, for an
      aggregate gross purchase price of $640.3 million, including $235.9
      million of mortgage debt. These properties, primarily located in the
      company&#8217;s core long-term markets, have an average occupancy of 96.9%
      (pro-rata) and are supported by excellent demographics, including an
      average household income of $99,000 within a three-mile radius.
    </p>
    <p>
      Also during 2013, Kimco increased its ownership interest in three
      institutional joint ventures through the acquisition of additional
      equity interests totaling $153.0 million: Kimco Income Fund (KIF) joint
      venture from 15.2% to 39.5%; the Kimco Income REIT (KIR) joint venture
      from 45.0% to 48.6%; and the Kimstone joint venture (formerly the
      Kimco-UBS joint venture) from 18.0% to 33.3%.
    </p>
    <p>
      Subsequent to year end, the company continued its communicated strategy
      of reducing the number of properties in joint ventures by acquiring
      three grocery-anchored shopping centers, totaling 316,000 square feet,
      for its own portfolio from an institutional joint venture. Kimco
      acquired the remaining 89% ownership interest in the Greenbrier Shopping
      Center, York Road Plaza and Shrewsbury Square Shopping Center, all of
      which are located in the greater Baltimore area, a key territory for the
      company, for a gross purchase price of $93.2 million, including $23.3
      million of mortgage debt.
    </p>
    <p>
      <i><b>Dispositions:</b></i>
    </p>
    <p>
      <u><i>United States</i></u>
    </p>
    <p>
      As previously announced in the fourth quarter of 2013, Kimco sold
      ownership interests in 14 properties (eight wholly owned and six
      unconsolidated joint ventures) in the U.S. totaling 2.2 million square
      feet for a gross sales price of $192.3 million, including $62.4 million
      of mortgage debt. Kimco&#8217;s share of the proceeds from these sales was
      $93.6 million.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Kimco remains committed to actively identifying and disposing of
      non-core retail properties. For the full year 2013, the company sold 35
      U.S. shopping centers (23 wholly owned properties and 12 unconsolidated
      properties) totaling 4.0 million square feet for a gross sales price of
      $349.7 million, including $94.5 million of mortgage debt. The properties
      had a pro-rata occupancy of 86.9% and an annual base rent of $9.22 per
      square foot, which is 29% below the portfolio average. The company&#8217;s
      share of the proceeds from these sales was $194.0 million.
    </p>
    <p>
      <u><i>Mexico and South America (Latin America)</i></u>
    </p>
    <p>
      In the fourth quarter of 2013, Kimco continued its progress in reducing
      exposure to Latin America by selling five unencumbered properties and
      one outparcel from the Latin America portfolio, including the company&#8217;s
      only two Brazilian properties, totaling 463,000 square feet for a gross
      sales price of $40.1 million. The company&#8217;s share of the proceeds from
      these sales was $29.9 million.
    </p>
    <p>
      For the full year 2013, Kimco sold 112 properties from its Latin America
      portfolio totaling approximately 16.0 million square feet for a gross
      sales price of $1.1 billion, including $381.3 million of mortgage debt.
      The company&#8217;s share of the proceeds from these sales was $360.3 million.
    </p>
    <p>
      <i><b>Redevelopments:</b></i>
    </p>
    <p>
      During the fourth quarter, Kimco completed seven redevelopment projects
      totaling approximately $15 million, while adding five projects with a
      gross cost of approximately $16 million to its redevelopment pipeline.
      During 2013, the company moved 35 projects with a gross cost of
      approximately $109 million from the planning stage into active
      redevelopment status, while increasing the overall redevelopment
      pipeline to a total of 262 projects with a gross cost of approximately
      $778 million.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Dividend Declarations</b></font></u>
    </p>
    <p>
      Kimco&#8217;s board of directors declared a quarterly cash dividend of $0.225
      per common share, payable on April 15, 2014, to shareholders of record
      on April 3, 2014, with an ex-dividend date of April 1, 2014. This
      dividend represents a 7.1% increase over the previous dividend paid for
      the comparable period in 2013.
    </p>
    <p>
      The board of directors also declared quarterly dividends for the
      company&#8217;s preferred shares as follows:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        For the Class H depositary shares, each representing 1/100 of a share
        of 6.90% Class H cumulative redeemable preferred shares, a quarterly
        dividend of $0.43125 per preferred depositary share will be paid on
        April 15, 2014, to shareholders of record on April 2, 2014, with an
        ex-dividend date of March 31, 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        For the Class I depositary shares, each representing 1/1000 of a share
        of 6.00% Class I cumulative redeemable preferred shares, a quarterly
        dividend of $0.37500 per preferred depositary share will be paid on
        April 15, 2014, to shareholders of record on April 2, 2014, with an
        ex-dividend date of March 31, 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        For the Class J depositary shares, each representing 1/1000 of a share
        of 5.50% Class J cumulative redeemable preferred shares, a quarterly
        dividend of $0.34375 per preferred depositary share will be paid on
        April 15, 2014, to shareholders of record on April 2, 2014, with an
        ex-dividend date of March 31, 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        For the Class K depositary shares, each representing 1/1000 of a share
        of 5.625% Class K cumulative redeemable preferred shares, a quarterly
        dividend of $0.35156 per preferred depositary share will be paid on
        April 15, 2014, to shareholders of record on April 2, 2014, with an
        ex-dividend date of March 31, 2014.
      </li>
    </ul>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>2014 Guidance</b></font></u>
    </p>
    <p>
      The company affirms its 2014 full-year guidance range for FFO as
      adjusted, which does not include any estimate for transactional
      activities or non-operating impairments, of $1.36 - $1.40 per diluted
      share.
    </p>
    <p>
      Estimated 2014 shopping center operating metrics for the combined
      portfolio are as follows:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Combined portfolio occupancy: +50 to +75 basis points
      </li>
      <li style="margin-bottom: 10.0px">
        Combined same-property NOI: +2.5% to +3.5%
      </li>
    </ul>
    <p>
      <u><b>Conference Call and Supplemental Materials</b></u>
    </p>
    <p>
      Kimco will hold its quarterly conference call on Thursday, February 6,
      2014, at 10:00 a.m. Eastern Standard Time (EST). The call will include a
      review of the company&#8217;s fourth quarter and full year 2013 results as
      well as a discussion of the company&#8217;s strategy and expectations for the
      future. To participate, dial 1-888-317-6003 (Passcode: 6206276).
    </p>
    <p>
      A replay will be available through 9:00 a.m. EDT on March 10, 2014, by
      dialing 1-877-344-7529 (Passcode: 10037461). Access to the live call and
      replay will be available through the company's website at
      investors.kimcorealty.com.
    </p>
    <p>
      <u><b>About Kimco</b></u>
    </p>
    <p>
      Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT)
      headquartered in New Hyde Park, N.Y., that owns and operates North
      America&#8217;s largest portfolio of neighborhood and community shopping
      centers. As of December 31, 2013, the company owned interests in 852
      shopping centers comprising 125 million square feet of leasable space
      across 42 states, Puerto Rico, Canada, Mexico and South America.
      Publicly traded on the NYSE since 1991, and included in the S&amp;P 500
      Index, the company has specialized in shopping center acquisitions,
      development and management for more than 50 years. For further
      information, please visit <u>www.kimcorealty.com,</u> the company&#8217;s blog
      at blog.kimcorealty.com, or follow Kimco on Twitter at <u>www.twitter.com/kimcorealty</u>.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
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        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><b>Safe Harbor Statement</b></u>
    </p>
    <p>
      The statements in this news release state the company's and management's
      intentions, beliefs, expectations or projections of the future and are
      forward-looking statements. It is important to note that the company's
      actual results could differ materially from those projected in such
      forward-looking statements. Factors which may cause actual results to
      differ materially from current expectations include, but are not limited
      to (i) general adverse economic and local real estate conditions, (ii)
      the inability of major tenants to continue paying their rent obligations
      due to bankruptcy, insolvency or a general downturn in their business,
      (iii) financing risks, such as the inability to obtain equity, debt or
      other sources of financing or refinancing on favorable terms to the
      company, (iv) the company&#8217;s ability to raise capital by selling its
      assets, (v) changes in governmental laws and regulations, (vi) the level
      and volatility of interest rates and foreign currency exchange rates,
      (vii) risks related to our international operations, (viii) the
      availability of suitable acquisition and disposition opportunities, and
      risks related to acquisitions not performing in accordance with our
      expectations, (ix) valuation and risks related to our joint venture and
      preferred equity investments, (x) valuation of marketable securities and
      other investments, (xi) increases in operating costs, (xii) changes in
      the dividend policy for the company&#8217;s common stock, (xiii) the reduction
      in the company&#8217;s income in the event of multiple lease terminations by
      tenants or a failure by multiple tenants to occupy their premises in a
      shopping center, (xiv) impairment charges and (xv) unanticipated changes
      in the company&#8217;s intention or ability to prepay certain debt prior to
      maturity and/or hold certain securities until maturity. Additional
      information concerning factors that could cause actual results to differ
      materially from those forward-looking statements is contained from time
      to time in the company's Securities and Exchange Commission (SEC)
      filings. Copies of each filing may be obtained from the company or the
      SEC.
    </p>
    <p>
      The company refers you to the documents filed by the company from time
      to time with the SEC, specifically the section titled &quot;Risk Factors&quot; in
      the company's Annual Report on Form 10-K for the year ended December 31,
      2012, as may be updated or supplemented in the company&#8217;s Quarterly
      Reports on Form 10-Q and the company&#8217;s other filings with the SEC, which
      discuss these and other factors that could adversely affect the
      company's results.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="21">
          <b>CONDENSED CONSOLIDATED STATEMENTS OF INCOME</b>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="21">
          <b>(in thousands, except share information)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top" colspan="21">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="8">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="8">
          <b>Year Ended</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="8">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="8">
          <b>December 31,</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2012</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Revenues
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Revenues from rental properties
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          238,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          216,896
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          910,356
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          836,881
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Management and other fee income
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,565
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,469
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          36,317
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          37,522
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 35.0px" valign="top">
          Total revenues
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          247,620
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          227,365
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          946,673
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          874,403
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating expenses
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Rent
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,335
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,300
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          13,347
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          12,745
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Real estate taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          30,776
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          117,563
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          110,747
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Operating and maintenance
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          34,561
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          34,671
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          115,151
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          107,204
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          General and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31,663
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,986
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          127,913
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          123,925
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Provision for doubtful accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,050
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (247
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,022
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Impairment charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          91,404
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,289
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          65,492
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          60,520
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          247,537
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          236,923
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 35.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          169,722
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          165,556
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          721,171
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          607,855
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          77,898
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          61,809
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          225,502
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          266,548
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other income/(expense)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Mortgage financing income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          963
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,421
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,304
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,504
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Interest, dividends and other investment income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,435
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,033
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,041
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Other income/(expense), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,799
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (533
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (7,687
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (51,317
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (55,486
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (213,911
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (225,710
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Income from other real estate investments
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          678
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          763
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,306
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,451
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Income from continuing operations before income taxes, equity
            in income of joint ventures, gain on change in control of
            interests and equity in income from other real estate investments</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>38,074</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>7,741</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>34,667</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>45,147</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Provision for income taxes, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (6,788
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3,707
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (34,520
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (16,922
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Equity in income of joint ventures, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,898
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,308
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          208,689
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          112,896
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Gain on change in control of interests, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,399
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          21,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,555
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Equity in income of other real estate investments, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,225
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          18,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          53,397
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 35.0px" valign="top">
          <b>Income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>61,409</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>46,798</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>261,683</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>210,073</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Discontinued operations</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Income from discontinued operating properties, net of tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,914
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,301
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          18,224
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          21,082
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Impairment/loss on operating properties sold, net of tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (20,442
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (8,466
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (83,900
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (38,432
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Gain on disposition of operating properties
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,151
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          48,783
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          43,914
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          83,253
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          <b>(Loss)/income from discontinued operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(1,377</b>
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>44,618</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(21,762</b>
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>65,903</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Gain on sale of operating properties, net of tax (1)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>352</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>239</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1,432</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>4,299</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px" valign="top">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>60,384</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>91,655</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>241,353</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>280,275</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Net loss/(income) attributable to noncontrolling interests (3)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,224
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3,274
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (5,072
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (14,202
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px" valign="top">
          <b>Net income attributable to the Company</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>61,608</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>88,381</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>236,281</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>266,073</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Preferred stock redemption costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (15,490
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (21,703
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Preferred stock dividends
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (14,573
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (13,660
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (58,294
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (71,697
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          <b>Net income available to the Company's common shareholders</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>47,035</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>59,231</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>177,987</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>172,673</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Per common share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Income from continuing operations: (3)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.10</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.04</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.47</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.27</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.10</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.04</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.47</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.27</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Net income: (4)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.11</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.43</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.42</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.11</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.14</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.43</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.42</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>(2)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Weighted average shares:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>408,139</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>406,345</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>407,631</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>405,997</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 35.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>408,995</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>406,837</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>408,614</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>406,689</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: right; padding-left: 0.0px" valign="bottom" colspan="21">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>(1)</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Included in the calculation of income from continuing operations per
          common share in accordance with SEC guidelines.
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>(2)</b>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period. The impact of the
          conversion would have an anti-dilutive effect on net income and
          therefore have not been included.
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>(3)</b>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Includes the net income attributable to noncontrolling interests
          related to continued operations of ($4,961) and ($2,749) for the
          quarters ended December 31, 2013 and 2012, and ($13,373) and
          ($11,069) for the year ended December 31, 2013 and 2012,
          respectively.
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>(4)</b>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Includes earnings attributable to unvested restricted shares of $358
          and $329 for the quarters ended December 31, 2013 and 2012 and
          $1,360 and $1,221 for the year ended December 31, 2013 and 2012,
          respectively.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="9">
          <b>CONDENSED CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="9">
          <b>(in thousands, except share information)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top" colspan="9">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="3">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="3">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Assets:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Operating real estate, net of accumulated depreciation of
            $1,878,681 and $1,745,462, respectively
          </p>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,146,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,104,562
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Investments and advances in real estate joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,257,010
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,428,155
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Real estate under development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          97,818
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          97,263
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Other real estate investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          274,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          317,557
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Mortgages and other financing receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          30,243
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          70,704
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          148,768
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          141,875
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Marketable securities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          62,766
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          36,541
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts and notes receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          164,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          171,540
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          481,213
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          383,037
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,663,630
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,751,234
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Notes payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,186,047
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,192,127
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Mortgages payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,035,354
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,003,190
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Dividends payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          104,496
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          96,518
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          482,054
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          445,843
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,807,951
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,737,678
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Redeemable noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          86,153
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          81,076
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Stockholders' equity:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Preferred stock, $1.00 par value, authorized 5,961,200 shares
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            102,000 shares issued and outstanding (in series)
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Aggregate liquidation preference $975,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          102
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          102
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, $.01 par value, authorized 750,000,000 shares issued
            and outstanding 409,731,058 and 407,782,102 shares, respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,097
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,078
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5,689,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5,651,170
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cumulative distributions in excess of net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (996,058
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (824,008
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Accumulated other comprehensive income
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (64,982
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (66,182
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Total stockholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,632,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,765,160
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          137,109
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          167,320
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,769,526
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,932,480
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,663,630
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,751,234
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="22">
          <b>RECONCILIATION OF NET INCOME AVAILABLE TO COMMON SHAREHOLDERS</b>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="22">
          <b>TO FUNDS FROM OPERATIONS - &quot;FFO&quot;</b>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="22">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top" colspan="22">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="8">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="9">
          <b>Year Ended</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="8">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="9">
          <b>December 31,</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2012</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          47,035
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          59,231
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          177,987
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          172,673
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gain on disposition of operating property, net of noncontrolling
          interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (16,503
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (49,023
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (45,330
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (84,828
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gain on disposition of joint venture operating properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (5,530
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (4,914
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (113,937
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (27,927
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Depreciation and amortization - real estate related
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          64,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          63,246
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          250,253
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          257,278
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Depr. and amort. - real estate jv's, net of noncontrolling interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,448
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          32,228
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          117,743
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          133,734
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Impairments of operating properties, net of tax and noncontrolling
          interests
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,707
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,440
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          165,825
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          59,510
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Funds from operations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>134,668</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>127,208</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>552,541</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>510,440</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Transactional charges/(income), net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          132
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,560
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (8,831
        </td>
        <td style="padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,761
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Funds from operations as adjusted</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>134,800</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>134,768</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>543,710</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>514,201</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Weighted average shares outstanding for FFO calculations:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          408,139
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          406,345
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          407,631
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          405,997
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Units
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,522
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,522
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,523
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,455
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Dilutive effect of equity awards
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,414
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,829
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,541
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,106
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          412,075
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          409,696
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          411,695
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          409,558
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>FFO per common share - basic</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.31</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.36</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.26</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>FFO per common share - diluted</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.31</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.35</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.25</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>FFO as adjusted per common share - diluted</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>1.26</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-bottom: 4.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
      </tr>
      <tr>
        <td colspan="22">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (1) Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period. Funds from operations
          would be increased by $661 and $572 for the three months ended
          December 31, 2013 and 2012, and $2,516 and $2,127 for the year ended
          December 31, 2013 and 2012, respectively.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          FFO is a widely accepted supplemental measure of REIT performance
          with the standards established by the National Association of Real
          Estate Investment Trusts (NAREIT). Given the company&#8217;s business as a
          real estate owner and operator, Kimco believes that FFO and FFO as
          adjusted is helpful to investors as a measure of its operating
          performance. NAREIT defines FFO as net income/(loss) attributable to
          common shareholders computed in accordance with generally accepted
          accounting principles, excluding (i) gains or losses from sales of
          operating real estate assets and (ii) extraordinary items, plus
          (iii) depreciation and amortization of operating properties and (iv)
          impairment of depreciable real estate and in substance real estate
          equity investments. Included in these items are also the company&#8217;s
          share of unconsolidated real estate joint ventures and partnerships.
          FFO as adjusted excludes the effects of non-operating impairments,
          transactional income and expenses.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <b>Reconciliation of Projected Diluted Net Income Per Common Share</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="13">
          <b>to Projected Diluted Funds From Operations Per Common Share</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top" colspan="13">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="3">
          <b>Actual</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="7">
          <b>Projected Range</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; padding-left: 0.0px" valign="top" colspan="7">
          <b>Full Year 2014</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Low</u>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>High</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Projected diluted net income available to common shareholder per
            share
          </p>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.50
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.54
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Projected depreciation &amp; amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.61
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.65
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.67
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Projected depreciation &amp; amortization real estate joint ventures,
            net of noncontrolling interests
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.29
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.23
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.25
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gain on disposition of operating properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.11
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.03
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Gain on disposition of joint venture operating properties, net of
            noncontrolling interests
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.27
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.03
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Impairments of operating properties, net of tax and noncontrolling
            interests
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.40
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Projected FFO per diluted common share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.35
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.36
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.40
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Transactional income, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (0.02
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Projected FFO, as adjusted per diluted common share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.33
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.36
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1.40
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Projections involve numerous assumptions such as rental income
          (including assumptions on percentage rent), interest rates, tenant
          defaults, occupancy rates, foreign currency exchange rates (such as
          the US-Canadian rate), selling prices of properties held for
          disposition, expenses (including salaries and employee costs),
          insurance costs and numerous other factors. Not all of these factors
          are determinable at this time and actual results may vary from the
          projected results, and may be above or below the range indicated.
          The above range represents management&#8217;s estimate of results based
          upon these assumptions as of the date of this press release.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Kimco Realty Corporation<br>David F. Bujnicki, 1-866-831-4297<br>Vice
      President, Investor Relations and Corporate Communications
    </p>
    <p>

    </p>
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