<SEC-DOCUMENT>0001157523-14-004142.txt : 20141028
<SEC-HEADER>0001157523-14-004142.hdr.sgml : 20141028
<ACCEPTANCE-DATETIME>20141028163118
ACCESSION NUMBER:		0001157523-14-004142
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141028
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20141028
DATE AS OF CHANGE:		20141028

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:		141177536

	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>a50971309.htm
<DESCRIPTION>KIMCO REALTY CORPORATION 8-K
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported)</font><br><font style="font-family: Times New Roman; font-size: 10pt">October
      28, 2014</font><br><br><u><font style="font-family: Times New Roman; font-size: 18pt"><b>Kimco
      Realty Corporation</b></font></u><br><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Maryland</u>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 34%; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>1-10899</u>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 33%; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>13-2744380</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <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 valign="bottom" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <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>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 41%">
          <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 valign="bottom" style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 33%; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>11042</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 41%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal</font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Executive
            Offices)</font>
          </p>
        </td>
        <td style="width: 26%">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <font style="font-family: Times New Roman; font-size: 10pt">(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-family: Times New Roman; font-size: 10pt">(Former
      Name or Former Address, if Changed Since Last Report)</font><br><br>
    </p>
    <p>
      <!--end_optional_former-->
      <font style="font-family: Times New Roman; font-size: 10pt">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-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">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-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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>
      <b>Item 2.02. Results of Operations and Financial Condition </b>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      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="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      On October 28, 2014, Kimco Realty Corporation issued a press release
      announcing its financial results for the quarter ended September 30,
      2014.&#160;&#160;A copy of the press release is furnished as Exhibit 99.1 to this
      report.
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      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 style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <br>

    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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 cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td colspan="6" valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>KIMCO REALTY CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="width: 46%">

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

        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 4%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 46%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 3%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>By:</i>
          </p>
        </td>
        <td colspan="2" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          <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: 4%">

        </td>
        <td style="width: 46%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Name:</i>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 25%">
          <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: 4%">

        </td>
        <td style="width: 46%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Title:</i>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 25%">
          <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: 4%">

        </td>
        <td style="width: 46%">

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

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

        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

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

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

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

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

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

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 4%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 46%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>October 28, 2014</i>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 5%">
          <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>
    <p>
      <br>
      <br>
      <br>

    </p>
    <p>
      <br>

    </p>
    <p>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 15%; white-space: nowrap">
          99.1
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 85%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release, dated October 28, 2014 issued by Kimco Realty
            Corporation
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50971309ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <head>
    <title></title>
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  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Kimco
      Realty Reports Strong Third Quarter 2014 Operating Results - FFO as
      Adjusted per Diluted Share Increases 9.1% Led by Solid U.S.
      Same-Property NOI Growth of 4.9%; Board Approves a 6.7% Dividend
      Increase per Common Share</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--October 28, 2014--Kimco Realty
      Corp. (NYSE:KIM) today reported results for the third quarter ended
      September 30, 2014.
    </p>
    <p>
      <u><b>Financial Results</b></u>
    </p>
    <p>
      Net income available to common shareholders for the third quarter of
      2014 was $180.1 million, or $0.44 per diluted share, compared to $41.2
      million, or $0.10 per diluted share, for the third quarter of 2013. Net
      income available to common shareholders during the third quarter of 2014
      included $115.4 million of gains on sales of operating properties and
      $5.3 million of impairments attributable to the sale or pending
      disposition of operating properties. This compares to $81.6 million of
      gains on the sales of operating properties and $91.0 million of
      impairments during the third quarter of 2013. Both operating property
      impairments and gains on sales are excluded from the calculation of
      funds from operations (FFO).
    </p>
    <p>
      For the nine months ended September 30, 2014, net income available to
      common shareholders was $327.5 million, or $0.79 per diluted share,
      compared to $131.0 million, or $0.32 per diluted share, through
      September 30, 2013. Net income available to common shareholders for the
      nine months ended September 30, 2014 included $256.0 million of gains on
      sales of operating properties and $103.7 million of impairments
      attributable to the sale or pending disposition of operating properties.
      This compares to $137.2 million of gains on the sales of operating
      properties and $145.1 million of impairments during the same period of
      2013.
    </p>
    <p>
      FFO, a widely accepted supplemental measure of REIT performance, was
      $159.9 million, or $0.39 per diluted share, for the third quarter of
      2014 compared to $141.4 million, or $0.34 per diluted share, for the
      third quarter of 2013, representing a 14.7% increase. For the nine
      months ended September 30, 2014, FFO was $439.5 million, or $1.07 per
      diluted share, compared to $417.9 million, or $1.02 per diluted share,
      for the same period last year.
    </p>
    <p>
      FFO as adjusted, which excludes the effects of non-operating impairments
      as well as transactional income and expenses, was $148.2 million, or
      $0.36 per diluted share, for the third quarter of 2014, compared to
      $134.6 million, or $0.33 per diluted share, for the third quarter of
      2013, representing a 9.1% increase. FFO as adjusted for the nine months
      ended September 30, 2014 was $432.2 million, or $1.05 per diluted share,
      compared to $408.9 million, or $1.00 per diluted share, for the same
      period in 2013.
    </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><b>Operating Results</b></u>
    </p>
    <p>
      Third quarter 2014 shopping center portfolio operating results:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Pro-rata occupancy in the U.S. and combined (including Canada and
        Latin America) portfolios ended the quarter at 95.5% and 95.3%,
        respectively. This represented increases of 110 basis points and 130
        basis points, respectively, over the third quarter of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        U.S. shopping center portfolio pro-rata occupancy for anchor space
        (10,000 square feet and greater) was 98.2%, an 80 basis-point increase
        from the third quarter of 2013. The pro-rata occupancy for small shop
        space increased 230 basis points to 87% during this same period.
      </li>
    </ul>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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>
    <ul>
      <li style="margin-bottom: 10.0px">
        U.S. portfolio pro-rata rental-rate leasing spreads increased 7.1%
        with rental rates for new leases up 10.2% and renewals/options
        increasing 6.4%.
      </li>
      <li style="margin-bottom: 10.0px">
        U.S. same-property net operating income (NOI) increased 4.9% compared
        to the third quarter of 2013, including a 1.70% increase from the
        inclusion of redevelopments.
      </li>
      <li style="margin-bottom: 10.0px">
        Combined same-property NOI, excluding the impact of foreign currency,
        increased 4.8% over the third quarter of 2013 with positive
        same-property NOI in Canada (+2.6%) and Latin America (+12.6%).
        Combined same-property NOI, including the impact of foreign currency,
        increased 4.2% over the same period in 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        Total leases executed in the combined portfolio: 511 new leases,
        renewals and options totaling 2.2 million square feet.
      </li>
    </ul>
    <p>
      <u><b>Investment Activity</b></u>
    </p>
    <p>
      <u><i>United States</i></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        As previously announced, the company acquired a portfolio of 10
        predominantly grocery-anchored shopping centers from its joint venture
        with SEB Asset Management for a gross price of $275.8 million. Kimco
        paid approximately $69.8 million for the remaining 85% equity interest
        held by SEB Asset Management which was subject to $193.6 million of
        mortgage debt.
      </li>
      <li style="margin-bottom: 10.0px">
        During the third quarter, Kimco sold ownership interests in 24 U.S.
        properties (including seven properties held in joint ventures)
        totaling 2.4 million square feet for a gross sales price of $263.6
        million, including $35.2 million of mortgage debt. The company&#8217;s
        pro-rata share from these sales was $205.4 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Subsequent to the third quarter, Kimco sold ownership interests in 17
        properties totaling 2.1 million square feet for a gross sales price of
        $316.3 million. The company&#8217;s pro-rata share from these sales was
        $161.3 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Kimco currently has 37 properties for sale with an accepted offer or
        under contract with a gross sales price totaling approximately $215.6
        million of which the company&#8217;s pro-rata share is expected to be
        approximately $192.8 million.
      </li>
    </ul>
    <p>
      <u><i>Mexico and South America (Latin America)</i></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        As previously announced during the third quarter, Kimco completed the
        sale of three shopping centers in Mexico for a gross sales price of
        1.5 billion pesos ($110.8 million). The company&#8217;s pro-rata share from
        these sales was approximately 1.3 billion pesos ($99.2 million).
      </li>
      <li style="margin-bottom: 10.0px">
        Subsequent to the third quarter, the company sold its two remaining
        Peruvian properties for approximately $5.8 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Since the beginning of 2014, Kimco has sold 18 retail properties in
        Latin America, 16 of which were located in Mexico, comprising 4.5
        million square feet for a gross sales price of $420.7 million. The
        company&#8217;s pro-rata share from these sales was $308.8 million.
      </li>
    </ul>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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><b>Dividend Declarations</b></u>
    </p>
    <p>
      Kimco&#8217;s board of directors declared and increased the company&#8217;s
      quarterly cash dividend 6.7% to $0.24 per common share payable on
      January 15, 2015, to shareholders of record on January 2, 2015,
      representing an ex-dividend date of December 30, 2014.
    </p>
    <p>
      The board of directors also declared quarterly dividends with respect to
      the company&#8217;s various series of cumulative redeemable preferred shares
      (Class H, Class I, Class J and Class K). All dividends on the preferred
      shares will be paid on January 15, 2015, to shareholders of record on
      January 2, 2015, with an ex-dividend date of December 30, 2014.
    </p>
    <p>
      <u><b>2014 Guidance</b></u>
    </p>
    <p>
      The company has revised its 2014 full-year guidance range for FFO, FFO
      as adjusted (which does not include any estimate for transactional
      activities or non-operating impairments), occupancy and same-property
      NOI for the combined portfolio as follows:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="middle" rowspan="2" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Revised Guidance</u>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="middle" rowspan="2" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Previous Guidance</u>
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 5.0px; border-bottom-color: black">
          FFO (per diluted share):
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $1.42 -$1.45
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $1.36 - $1.40
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 5.0px; border-bottom-color: black">
          FFO as adjusted (per diluted share):
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $1.38 - $1.40
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $1.36 - $1.40
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 5.0px; border-bottom-color: black">
          Combined portfolio occupancy:
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          +80 to +100 basis points
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          +50 to +75 basis points
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 5.0px; border-bottom-color: black">
          Combined same-property NOI:
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          +2.75% to +3.5%
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          +2.5% to +3.5%
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <u><b>Conference Call and Supplemental Materials</b></u>
    </p>
    <p>
      Kimco will hold its quarterly conference call on Wednesday, October 29,
      2014, at 10:00 a.m. EDT. The call will include a review of the company&#8217;s
      third quarter 2014 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: 4676982).
    </p>
    <p>
      A replay will be available through 9:00 a.m. EST on December 1, 2014 by
      dialing 1-877-344-7529 (Passcode: 10051546). Access to the live call and
      replay will be available on 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, New York, that owns and operates North
      America&#8217;s largest publicly-traded portfolio of neighborhood and
      community shopping centers. As of September 30, 2014, the company owned
      interests in 814 shopping centers comprising 117 million square feet of
      leasable space across 41 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-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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><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, disposition and redevelopment
      opportunities, (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, including but not limited to the company's Annual Report on
      Form 10-K for the year ended December 31, 2013. 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,
      2013, 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="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="27">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="27" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Condensed Consolidated Statements of Income</b>
        </td>
      </tr>
      <tr>
        <td colspan="27" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except share information)</b>
        </td>
      </tr>
      <tr>
        <td colspan="27" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine Months Ended</b>
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Revenues
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          253,367
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          212,153
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          723,891
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          629,691
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Management and other fee income
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          8,679
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          9,310
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          26,245
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          26,752
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          262,046
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          221,463
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          750,136
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          656,443
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Operating expenses
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,559
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,315
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          10,362
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          10,012
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Real estate taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          31,553
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          28,156
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          92,413
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          81,345
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating and maintenance
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          32,143
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          23,767
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          90,190
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          73,721
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          General and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          28,674
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          30,828
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          94,682
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          96,148
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Provision for doubtful accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          992
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,102
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,612
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6,917
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6,141
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          58,650
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          45,691
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          83,887
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          69,188
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          57,933
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          191,423
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          170,827
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          172,250
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          204,751
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          529,373
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          522,857
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          89,796
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          16,712
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          220,763
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          133,586
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Other income/(expense)
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Mortgage financing income
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,544
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,341
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Interest, dividends and other investment income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          269
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          416
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          712
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          9,464
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other (expense)/income, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1,238
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,527
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (3,796
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1,292
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (51,578
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (53,949
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (154,998
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (162,404
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          <b>Income from continuing operations before income taxes,</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 10.0px">
          <b>equity in income of joint ventures, gain on change in control</b>
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 10.0px">
          <b>of interests and equity in income from other real estate
          investments</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>37,666</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(32,369</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>65,225</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(17,305</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Provision for income taxes, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (5,366
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (23,763
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (14,651
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (26,584
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Equity in income of joint ventures, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          51,787
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          96,175
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          150,073
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          179,791
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gain on change in control of interests, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          14,431
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          83,773
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Equity in income of other real estate investments, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6,036
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          10,547
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          16,404
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          29,910
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>104,554</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>50,590</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>300,824</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>187,523</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Discontinued operations</b>
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income from discontinued operating properties, net of tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,062
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          9,588
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          23,475
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          32,733
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Impairment/loss on operating properties, net of tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (566
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (26,928
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (58,373
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (68,130
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          89,259
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          23,398
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          118,804
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          27,762
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          <b>Income/(loss) from discontinued operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>92,755</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>6,058</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>83,906</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>(7,635</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>)</b>
        </td>
        <td colspan="2">

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          <b>Gain on sale of operating properties, net of tax (1)</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>540</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>389</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1,080</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>197,309</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>57,188</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>385,119</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>180,968</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net income attributable to noncontrolling interests (3)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (2,601
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1,425
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (13,899
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (6,296
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          <b>Net income attributable to the Company</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>194,708</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>55,763</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>371,220</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>174,672</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (14,573
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (14,573
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (43,720
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (43,720
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px">
          <b>Net income available to the Company's common shareholders</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>180,135</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>41,190</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>327,500</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>130,952</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Per common share:
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income from continuing operations: (3)
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 20.0px">
          Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.21</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.08</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.61</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.33</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 20.0px">
          Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.21</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.08</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.61</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.33</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net income: (4)
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 20.0px">
          Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.44</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.80</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.32</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 20.0px">
          Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.44</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.79</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.32</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Weighted average shares:
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>409,326</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>408,060</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>408,868</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>407,459</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>411,101</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>408,866</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>410,683</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>408,510</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td>

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

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Included in the calculation of income from continuing operations per
          common share in accordance with SEC guidelines.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(2)</b>
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Includes the net income attributable to noncontrolling interests
          related to continued operations of ($2,605) and ($4,204) for the
          quarters ended September 30, 2014 and 2013, and ($6,503) and
          ($8,140) for the nine months ended September 30, 2014 and 2013,
          respectively.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>(4)</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Includes earnings attributable to unvested restricted shares of $431
          and $337 for the quarters ended September 30, 2014 and 2013 and
          $1,292 and $1,011 for the nine months ended September 30, 2014 and
          2013, respectively.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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 cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except share information)</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 5.0px">
          Assets:
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Operating real estate, net of accumulated depreciation
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          of $1,937,463 and $1,878,681, respectively
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,883,798
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Investments and advances in real estate joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,087,425
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Real estate under development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          79,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Other real estate investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          268,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Mortgages and other financing receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          22,724
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          154,190
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Marketable securities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          77,123
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Accounts and notes receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          161,158
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          559,407
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 5.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          10,293,211
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 5.0px">
          Liabilities:
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Notes payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,353,458
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Mortgages payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,343,859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Dividends payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          104,858
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          563,926
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          5,366,101
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Redeemable noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          91,413
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 5.0px">
          Stockholders' equity:
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          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>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          102,000 shares issued and outstanding (in series)
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Aggregate liquidation preference $975,000
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Common stock, $.01 par value, authorized 750,000,000 shares
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          issued and outstanding 411,338,211 and 409,731,058 shares,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,113
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          5,722,829
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          Cumulative distributions in excess of net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (945,949
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Accumulated other comprehensive income
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (68,620
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 5.0px">
          Total stockholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,712,475
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Noncontrolling interests
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          123,222
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Total equity
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,835,697
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 5.0px">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          10,293,211
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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 cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="23" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Net Income Available to Common Shareholders</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>to Funds From Operations - &quot;FFO&quot;</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended</b>
        </td>
        <td colspan="2">

        </td>
        <td colspan="8" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine Months Ended</b>
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td colspan="2">

        </td>
        <td colspan="8" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          180,135
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          41,190
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          327,500
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          130,952
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (89,262
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (23,922
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (118,420
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (28,827
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (26,106
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (57,651
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (137,530
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (108,407
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          68,014
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          62,445
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          193,007
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          185,742
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          21,821
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          28,245
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          71,230
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          93,295
        </td>
        <td>

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          5,306
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          91,046
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          103,723
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          145,118
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>159,908</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>141,353</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>439,510</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          <b>417,873</b>
        </td>
        <td>

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (11,706
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (6,744
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (7,261
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (8,963
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td colspan="2">

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>148,202</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>134,609</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>432,249</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>408,910</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

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

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          409,326
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          408,060
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          408,868
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          407,459
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,530
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,519
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,537
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,539
        </td>
        <td>

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

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

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 20.0px">
          Dilutive effect of equity awards
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,967
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,378
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,006
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,622
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          413,823
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          411,957
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          413,411
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          411,620
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.39</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.35</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.07</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.03</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2">

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.39</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.34</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.07</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.02</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.36</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>0.33</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.05</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.00</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td>
          &#160;
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          (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 $747 and $621 for the three months ended
          September 30, 2014 and 2013, and $2,240 and $1,878 for the nine
          months ended September 30, 2014 and 2013, respectively.
        </td>
      </tr>
      <tr>
        <td>

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

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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 cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Income From Continuing Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>to Same Property Net Operating Income &quot;Same Property NOI&quot;</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </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>

        </td>
        <td colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td>

        </td>
        <td colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2014</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2013</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Income from continuing operations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          104,554
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          50,590
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          300,824
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          187,523
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Management and other fee income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (8,679
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (9,310
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (26,245
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (26,752
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          General and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          28,674
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          30,828
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          94,682
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          96,148
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Impairment of property carrying values
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6,141
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          58,650
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          45,691
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          83,887
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          69,188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          57,933
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          191,423
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          170,827
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Other expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          52,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          49,081
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          155,538
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          150,891
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Provision for income taxes, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          5,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          23,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          14,651
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          26,584
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Gain on change in control of interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (14,431
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (83,773
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (21,711
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 25.0px">
          Equity in income of other real estate investments, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (6,036
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (10,547
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (16,404
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (29,910
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Non same property net operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (17,870
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (12,123
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (47,458
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (56,219
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 25.0px">
          Non-operational expense from joint ventures, net
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          24,274
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (5,339
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          86,932
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          117,277
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Same Property NOI</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          243,311
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          233,526
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          715,861
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          698,545
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 25.0px">
          Impact from foreign currency
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (1,372
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (5,404
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          <b>Same Property NOI, before foreign currency impact</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          243,311
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          232,154
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          715,861
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          693,141
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Same Property Net Operating Income is a supplemental non-GAAP financial
      measure of real estate companies&#8217; operating performance. Same Property
      NOI is considered by management to be an important performance measure
      of Kimco's operations and management believes that it is helpful to
      investors as a measure of Kimco's operating performance because it
      includes only the net operating income of properties that have been
      owned for the entire current and prior year reporting periods and
      excludes properties under development and pending stabilization. As
      such, Same Property NOI assists in eliminating disparities in net income
      due to the development, acquisition or disposition of properties during
      the particular period presented, and thus provides a more consistent
      performance measure for the comparison of Kimco's properties.
    </p>
    <p>
      Same Property NOI is calculated using revenues from rental properties
      (excluding straight-line rents, lease termination fees and above/below
      market rents) less operating and maintenance expense, real estate taxes
      and rent expense, plus Kimco's proportionate share of Same Property NOI
      from unconsolidated real estate joint ventures, calculated on the same
      basis. Same Property NOI includes all properties that are owned for the
      entire current and prior year reporting periods and excludes properties
      under development and properties pending stabilization. Properties are
      deemed stabilized at the earlier of (i) reaching 90% leased or (ii) one
      year following a projects inclusion in operating real estate (two years
      for Latin American properties).
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt">
      <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 cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Projected Diluted Net Income Per Common Share</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>to Projected Diluted Funds From Operations Per Common Share</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <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 colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Projected Range</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          shareholder per share
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.94
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.97
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.63
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          joint ventures, net of noncontrolling interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.24
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (0.31
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          net of noncontrolling interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (0.33
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (0.35
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          and noncontrolling interests
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1.42
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1.45
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (0.04
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (0.05
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.38
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.40
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      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. Under U.S. GAAP, the company is required to
      release cumulative translation adjustment (&#8220;CTA&#8221;) balances into earnings
      when the company has substantially liquidated its investment in a
      foreign entity. CTAs result from currency fluctuations between local
      currency and the U.S. dollar during the period in which the company held
      its investment and are recorded as a component of Accumulated other
      comprehensive income (&#8220;AOCI&#8221;) on the company&#8217;s Condensed Consolidated
      Balance Sheets. During 2013, the company began selling properties within
      its Latin American portfolio and the company may, in the near term,
      substantially liquidate all of its investments in this portfolio which
      will require the then unrealized loss on foreign currency translation to
      be recognized as a charge against earnings. The final impact of currency
      will apply to the respective gains and losses on the sale of these
      operating properties and will not have an impact on FFO or FFO as
      adjusted. At September 30, 2014, the aggregate CTA net loss balance
      relating to the company&#8217;s Latin American portfolio was $127.0 million.
    </p>
    <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 style="white-space: nowrap">

    </p>
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</SEC-DOCUMENT>
