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Partners Equity of the Operating Partnership | 6 Months Ended
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Jun. 30, 2013
Equity [Abstract] |
Partners Equity of Operating Partnership [Text Block] | PARTNERS’ EQUITY OF THE OPERATING PARTNERSHIP Earnings per Common Partnership Unit The following tables detail the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):
| Three month periods ended June 30,
| 2013 |  | 2012
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Income (Loss) from continuing operations | $ | 9,432 |  |  | $ | 9,432 |  |  | $ | (5,910 | ) |  | $ | (5,910 | )
Amount allocable to unvested restricted unitholders | (85 | ) |  | (85 | ) |  | (95 | ) |  | (95 | )
Preferred unit dividends | (1,725 | ) |  | (1,725 | ) |  | (3,049 | ) |  | (3,049 | )
Preferred unit redemption charge | — |  |  | — |  |  | (2,090 | ) |  | (2,090 | )
Income (Loss) from continuing operations available to common unitholders | 7,622 |  |  | 7,622 |  |  | (11,144 | ) |  | (11,144 | )
Discontinued operations attributable to common unitholders | (2,252 | ) |  | (2,252 | ) |  | 12,712 |  |  | 12,712 |
Net income attributable to common unitholders | $ | 5,370 |  |  | $ | 5,370 |  |  | $ | 1,568 |  |  | $ | 1,568 |
Denominator |  |  |  |  |  |  |
Weighted-average units outstanding | 157,131,697 |  |  | 157,131,697 |  |  | 145,958,358 |  |  | 145,958,358 |
Contingent securities/Share based compensation | — |  |  | 1,343,817 |  |  | — |  |  | — |
Total weighted-average units outstanding | 157,131,697 |  |  | 158,475,514 |  |  | 145,958,358 |  |  | 145,958,358 |
Earnings per Common Partnership Unit: |  |  |  |  |  |  |
Income (Loss) from continuing operations attributable to common unitholders | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | (0.08 | ) |  | $ | (0.08 | )
Discontinued operations attributable to common unitholders | (0.02 | ) |  | (0.02 | ) |  | 0.09 |  |  | 0.09 |
Net income attributable to common unitholders | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | 0.01 |  |  | $ | 0.01 |
| Six-month periods ended June 30,
| 2013 |  | 2012
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Income (Loss) from continuing operations | $ | 7,275 |  |  | $ | 7,275 |  |  | $ | (13,982 | ) |  | $ | (13,982 | )
Amount allocable to unvested restricted unitholders | (193 | ) |  | (193 | ) |  | (191 | ) |  | (191 | )
Preferred unit dividends | (3,450 | ) |  | (3,450 | ) |  | (5,047 | ) |  | (5,047 | )
Preferred unit redemption charge | — |  |  | — |  |  | (2,090 | ) |  | (2,090 | )
Income (Loss) from continuing operations available to common unitholders | 3,632 |  |  | 3,632 |  |  | (21,310 | ) |  | (21,310 | )
Discontinued operations attributable to common unitholders | 3,824 |  |  | 3,824 |  |  | 30,120 |  |  | 30,120 |
Net income attributable to common unitholders | $ | 7,456 |  |  | $ | 7,456 |  |  | $ | 8,810 |  |  | $ | 8,810 |
Denominator |  |  |  |  |  |  |
Weighted-average units outstanding | 151,323,813 |  |  | 151,323,813 |  |  | 145,721,890 |  |  | 145,721,890 |
Contingent securities/Share based compensation | — |  |  | 1,157,288 |  |  | — |  |  | — |
Total weighted-average units outstanding | 151,323,813 |  |  | 152,481,101 |  |  | 145,721,890 |  |  | 145,721,890 |
Earnings per Common Partnership Unit: |  |  |  |  |  |  |
Income (Loss) from continuing operations attributable to common unitholders | $ | 0.02 |  |  | $ | 0.02 |  |  | $ | (0.15 | ) |  | $ | (0.15 | )
Discontinued operations attributable to common unitholders | 0.03 |  |  | 0.03 |  |  | 0.21 |  |  | 0.21 |
Net income attributable to common unitholders | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.06 |  |  | $ | 0.06 |
Unvested restricted units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share. For the six months ended June 30, 2013 and 2012, earnings representing nonforfeitable dividends as noted in the table above were allocated to the unvested restricted units. Common Partnership Units and Preferred Mirror Units On April 10, 2013, the Parent Company closed a public offering of 12,650,000 common shares, inclusive of 1,650,000 common shares issued upon exercise by the underwriters of the option granted to them to purchase additional shares. The Company contributed the net proceeds from the sale of shares, amounting to $181.7 million after deducting underwriting discounts and commissions and other offering expenses, to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership continues to use the net proceeds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and the repayment, repurchase and refinancing of debt. On May 30, 2013, the Operating Partnership declared a distribution of $0.15 per common partnership unit, totaling $23.8 million, which was paid on July 19, 2013 to unitholders of record as of July 5, 2013. On May 30, 2013, the Operating Partnership declared distributions on its Series E-Linked Preferred Mirror Units to holders of record as of June 30, 2013. These units are entitled to a preferential return of 6.90% per annum on the $25.00 per unit liquidation preference. Distributions paid on July 15, 2013 to holders of Series E-Linked Preferred Mirror Units totaled $1.7 million. From January 1, 2013 through expiration of the Offering Program on March 10, 2013, the Parent Company did not sell any shares under the Offering Program and, accordingly, the Operating Partnership did not issue any common partnership units to the Parent Company in connection with the Offering Program during this time. From the inception of the Offering Program in March 2010 through expiration of the Offering Program in March 2013, the Parent Company sold an aggregate of 6,421,553 common shares under the Offering Program at an average sales price of $12.50 per share. The Operating Partnership used the net proceeds contributed to it by the Parent Company to repay balances on credit facilities and for general corporate purposes. Common Unit Repurchases The Parent Company did not repurchase any shares under its share repurchase program during the six-month period ended June 30, 2013 and accordingly, during the six-month period ended June 30, 2012, the Operating Partnership did not repurchase any units in connection with the Parent Company’s share repurchase program.

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