|
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
Mar. 31, 2012
|
Dec. 31, 2011
|
| Investment in real estate assets: |
|
|
| Land |
$ 863,257 |
$ 863,257 |
| Buildings and improvements, less accumulated depreciation of $253,900 and $238,688, respectively |
1,945,603 |
1,959,922 |
| Real estate assets under direct financing leases, less unearned income of $12,870 and $13,342, respectively |
35,741 |
35,999 |
| Acquired intangible lease assets, less accumulated amortization of $136,624 and $128,544, respectively |
315,633 |
323,298 |
| Total investment in real estate assets, net |
3,160,234 |
3,182,476 |
| Investment in mortgage notes receivable, net |
75,946 |
76,745 |
| Total investment in real estate and mortgage assets, net |
3,236,180 |
3,259,221 |
| Cash and cash equivalents |
29,396 |
53,205 |
| Restricted cash |
9,777 |
11,811 |
| Investment in unconsolidated joint venture |
21,617 |
22,334 |
| Rents and tenant receivables, less allowance for doubtful accounts of $352 and $547, respectively |
58,674 |
57,403 |
| Prepaid expenses and other assets |
3,296 |
3,739 |
| Deferred financing costs, less accumulated amortization of $19,256 and $17,751, respectively |
20,843 |
22,609 |
| Total assets |
3,379,783 |
3,430,322 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
| Notes payable and line of credit |
1,745,757 |
1,767,591 |
| Accounts payable and accrued expenses |
16,146 |
16,100 |
| Due to affiliates |
1,660 |
1,069 |
| Acquired below market lease intangibles, less accumulated amortization of $45,626 and $42,880, respectively |
127,934 |
130,680 |
| Distributions payable |
11,127 |
11,157 |
| Deferred rental income, derivative and other liabilities |
13,380 |
17,530 |
| Total liabilities |
1,916,004 |
1,944,127 |
| Commitments and contingencies |
|
|
| Redeemable common stock |
14,584 |
14,482 |
| STOCKHOLDERS' EQUITY: |
|
|
| Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding |
|
|
| Common stock, $0.01 par value; 240,000,000 shares authorized, 210,164,068 and 210,151,692 shares issued and outstanding, respectively |
2,102 |
2,101 |
| Capital in excess of par value |
1,883,098 |
1,882,971 |
| Accumulated distributions in excess of earnings |
(432,662) |
(409,801) |
| Accumulated other comprehensive loss |
(3,343) |
(3,558) |
| Total stockholders' equity |
1,449,195 |
1,471,713 |
| Total liabilities and stockholders' equity |
$ 3,379,783 |
$ 3,430,322 |