ACQUISITION AND DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2012

Acquisition and Disposition of Properties and Discontinued Operations [Abstract]

Schedule of Purchase Price Allocation [Table Text Block]

The following table summarizes both the Company's preliminary and finalized allocations of the purchase prices of assets acquired and liabilities assumed during 2012:



(dollars in thousands)	Finalized Purchase Price Allocation			Preliminary Purchase Price Allocation
Land	$	8,097		$	33,953
Buildings and improvements	13,142			106,199
Acquisition-related intangible assets (in Acquired lease intangibles, net)	1,517			—
Acquisition-related intangible liabilities (in Acquired lease and other intangibles, net)	(4,387		)	—
Above-below market debt assumed (included in Mortgage notes payable)	502			—
Total consideration	$	18,871		$	140,152

The following table summarizes the preliminary allocation of the purchase price of this property as recorded as of December 31, 2011, and the finalized allocation of the purchase price as adjusted as of June 30, 2012:



(dollars in thousands)	Finalized Purchase Price Allocation		Preliminary Purchase Price Allocation
Land	$	3,110	$	2,250
Buildings and improvements	7,354		9,000
Acquisition-related intangible assets (in Acquired lease intangibles, net)	786		—
Total consideration	$	11,250	$	11,250

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]



	Three Months Ended						Six Months Ended
STATEMENTS OF OPERATIONS	June 30,			June 30,			June 30,			June 30,
(dollars in thousands)	2012			2011			2012			2011
Total revenues	$	239		$	1,744		$	691		$	4,330
Total expenses	172			1,012			398			2,702
Operating income	67			732			293			1,628
Impairment of asset	—			(6,925		)	—			(6,925		)
Gain on sale of property	2,668			28,576			2,668			32,498
Income from discontinued operations	2,735			22,383			2,961			27,201
(Income) loss from discontinued operations attributable to noncontrolling interests	(2,413		)	3,631			(2,589		)	78
Income from discontinued operations attributable to Common Shareholders	$	322		$	26,014		$	372		$	27,279

The combined assets and liabilities as of December 31, 2011, and the results of operations of the properties classified as discontinued operations for the three and six months ended June 30, 2012 and June 30, 2011, respectively are summarized as follows:


4.	ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)

Discontinued Operations (continued)



BALANCE SHEET
ASSETS	December 31, 2011
(dollars in thousands)
Net real estate	$	8,859
Rents receivable, net	245
Deferred charges, net	249
Prepaid expenses and other assets	46
Total assets of discontinued operations	$	9,399
LIABILITIES
Mortgage notes payable	$	8,260
Accounts payable and accrued expenses	188
Other liabilities	556
Total liabilities of discontinued operations	$	9,004

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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