|
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| Investment in real estate assets: |
|
|
| Land |
$ 863,088 |
$ 863,257 |
| Buildings and improvements, less accumulated depreciation of $268,496 and $238,688, respectively |
1,932,397 |
1,959,922 |
| Real estate assets under direct financing leases, less unearned income of $12,398 and $13,342, respectively |
35,482 |
35,999 |
| Acquired intangible lease assets, less accumulated amortization of $143,969 and $128,544, respectively |
307,431 |
323,298 |
| Total investment in real estate assets, net |
3,138,398 |
3,182,476 |
| Investment in mortgage notes receivable, net |
75,139 |
76,745 |
| Total investment in real estate and mortgage assets, net |
3,213,537 |
3,259,221 |
| Cash and cash equivalents |
27,392 |
53,205 |
| Restricted cash |
8,986 |
11,811 |
| Investment in unconsolidated joint venture |
21,686 |
22,334 |
| Rents and tenant receivables, less allowance for doubtful accounts of $194 and $547, respectively |
60,458 |
57,403 |
| Prepaid expenses and other assets |
3,245 |
3,739 |
| Deferred financing costs, less accumulated amortization of $19,981 and $17,751, respectively |
19,434 |
22,609 |
| Total assets |
3,354,738 |
3,430,322 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
| Notes payable and line of credit |
1,747,505 |
1,767,591 |
| Accounts payable and accrued expenses |
18,496 |
16,100 |
| Due to affiliates |
1,319 |
1,069 |
| Acquired below market lease intangibles, less accumulated amortization of $48,249 and $42,880, respectively |
125,092 |
130,680 |
| Distributions payable |
10,766 |
11,157 |
| Deferred rental income, derivative and other liabilities |
13,260 |
17,530 |
| Total liabilities |
1,916,438 |
1,944,127 |
| Commitments and contingencies |
|
|
| Redeemable common stock |
14,394 |
14,482 |
| STOCKHOLDERS' EQUITY: |
|
|
| Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding |
0 |
0 |
| Common stock, $0.01 par value; 240,000,000 shares authorized, 210,137,757 and 210,151,692 shares issued and outstanding, respectively |
2,101 |
2,101 |
| Capital in excess of par value |
1,883,140 |
1,882,971 |
| Accumulated distributions in excess of earnings |
(458,565) |
(409,801) |
| Accumulated other comprehensive loss |
(2,770) |
(3,558) |
| Total stockholders' equity |
1,423,906 |
1,471,713 |
| Total liabilities and stockholders' equity |
$ 3,354,738 |
$ 3,430,322 |