Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 38,866,000 $ 39,626,000
Adjustments to reconcile net income to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 96,152,000 95,283,000
Depreciation and amortization on discontinued operations   409,000
Amortization of stock compensation 1,594,000 1,444,000
Amortization of deferred financing costs and debt discount 1,168,000 1,376,000
Equity in (earnings) loss of unconsolidated joint venture, net (635,000) 262,000
Realized gains on disposition of rental property   (4,447,000)
Distributions of cumulative earnings from unconsolidated joint ventures 1,471,000 102,000
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (4,066,000) (3,077,000)
Increase in deferred charges and other assets, net (18,468,000) (18,815,000)
Decrease (increase) in accounts receivable, net 3,554,000 (3,534,000)
Increase in accounts payable, accrued expenses and other liabilities 5,749,000 17,434,000
Decrease in rents received in advance and security deposits (2,327,000) (3,906,000)
Increase (decrease) in accrued interest payable 706,000 (1,595,000)
Net cash provided by operating activities 123,764,000 120,562,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to rental property and related intangibles (43,252,000) (30,267,000)
Investment in unconsolidated joint ventures (201,000) (667,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 929,000  
(Increase) decrease in restricted cash (3,077,000) 8,000
Net cash used in investing activities (45,601,000) (30,926,000)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 139,000,000  
Repayment of revolving credit facility (358,000,000)  
Repayment of senior unsecured notes   (150,000,000)
Proceeds from offering of common stock 227,374,000  
Repayment of mortgages, loans payable and other obligations (4,160,000) (3,978,000)
Payment of financing costs (6,000) (2,010,000)
Proceeds from stock options exercised 1,463,000 513,000
Payment of dividends and distributions (87,591,000) (84,230,000)
Net cash used in financing activities (81,920,000) (239,705,000)
Net decrease in cash and cash equivalents (3,757,000) (150,069,000)
Cash and cash equivalents, beginning of period 21,851,000 291,059,000
Cash and cash equivalents, end of period $ 18,094,000 $ 140,990,000