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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Rental $ 135,391 $ 114,638 $ 119,341
Related party revenue:      
Management fees and interest income from loans 4,046 2,440 1,740
Other 49 88 62
Total revenues 139,486 117,166 121,143
Expenses:      
Real estate operating expenses 36,685 33,600 30,806
Real estate taxes and insurance 20,433 18,077 18,892
Depreciation and amortization 48,249 36,155 35,304
Selling, general and administrative 6,913 6,399 4,452
Interest 12,666 7,284 6,570
Total expenses 124,946 101,515 96,024
Income before interest income, equity in earnings of non-consolidated REITs and taxes on income 14,540 15,651 25,119
Interest income 22 25 92
Equity in earnings of non-consolidated REITs 3,685 1,266 1,994
Income before taxes on income 18,247 16,942 27,205
Taxes on income 267 217 248
Income from continuing operations 17,980 16,725 26,957
Discontinued operations:      
Income from discontinued operations, net of income tax 3,605 5,368 491
Gain on sale of properties, less applicable income tax 21,939   424
Total discontinued operations 25,544 5,368 915
Net income $ 43,524 $ 22,093 $ 27,872
Weighted average number of shares outstanding, basic (in shares) 81,857 79,826 73,001
Weighted average number of shares outstanding, diluted (in shares) 81,857 79,826 73,001
Earnings per share, basic and diluted, attributable to:      
Continuing operations (in dollars per share) $ 0.22 $ 0.21 $ 0.37
Discontinued operations (in dollars per share) $ 0.31 $ 0.07 $ 0.01
Net income per share, basic and diluted (in dollars per share) $ 0.53 $ 0.28 $ 0.38