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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenue:    
Rental$ 33,672$ 29,222$ 98,377$ 84,855
Related party revenue:    
Syndication fees533204,023682
Transaction fees4702463,8461,145
Management fees and interest income from loans1,0376302,9951,721
Other7202035
Total revenue35,71930,138109,26188,438
Expenses:    
Real estate operating expenses9,3288,71426,82323,998
Real estate taxes and insurance5,0204,63615,00713,646
Depreciation and amortization12,3899,65535,23926,600
Selling, general and administrative2,4142,0747,1786,804
Commissions349162,192466
Interest3,4191,8929,4055,280
Total expenses32,91926,98795,84476,794
Income before interest income, equity in earnings of non-consolidated REITs and taxes2,8003,15113,41711,644
Interest income842821
Equity in earnings of non-consolidated REITs5734042,7071,037
Income before taxes on income3,3813,55916,15212,702
Taxes on income (benefit)67(37)185(101)
Income from continuing operations3,3143,59615,96712,803
Discontinued operations:    
Income from discontinued operations 1,1615563,470
Gain on sale of property less applicable to income tax  21,939 
Total discontinued operations 1,16122,4953,470
Net income$ 3,314$ 4,757$ 38,462$ 16,273
Weighted average number of shares outstanding, basic (in shares)81,60079,75181,49279,704
Weighted average number of shares outstanding, diluted (in shares)81,60079,75181,49279,704
Earnings per share, basic and diluted, attributable to:    
Continuing operations (in dollars per share)$ 0.04$ 0.05$ 0.20$ 0.16
Discontinued operations (in dollars per share) $ 0.01$ 0.27$ 0.04
Net income per share, basic and diluted (in dollars per share)$ 0.04$ 0.06$ 0.47$ 0.20