Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 56,854,000 $ 62,949,000
Adjustments to reconcile net income to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 143,605,000 143,202,000
Depreciation and amortization on discontinued operations 441,000 1,279,000
Amortization of stock compensation 2,338,000 2,393,000
Amortization of deferred financing costs and debt discount 1,945,000 1,752,000
Write off of unamortized discount on senior unsecured notes 370,000 0
Equity in earnings of unconsolidated joint venture, net (4,751,000) (1,174,000)
Distributions of cumulative earnings from unconsolidated joint ventures 2,680,000 2,482,000
Realized gains and unrealized losses on disposition of rental property, net (2,390,000)  
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (2,438,000) (4,927,000)
Increase in deferred charges and other assets, net (22,521,000) (31,238,000)
(Increase) decrease in accounts receivable, net (909,000) 3,779,000
Increase in accounts payable, accrued expenses and other liabilities 8,056,000 5,928,000
Decrease in rents received in advance and security deposits (2,472,000) (5,653,000)
Decrease in accrued interest payable (7,733,000) (10,163,000)
Net cash provided by operating activities 173,075,000 170,609,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property additions and improvements (59,105,000) (52,259,000)
Development of rental property (16,301,000) (12,971,000)
Proceeds from the sale of rental property 4,023,000  
Investment in unconsolidated joint ventures (32,477,000) (334,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 1,028,000 1,280,000
Decrease (increase) in restricted cash 906,000 (2,321,000)
Net cash used in investing activities (101,926,000) (66,605,000)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 420,026,000 219,000,000
Repayment of revolving credit facility (408,526,000) (420,000,000)
Proceeds from senior unsecured notes 299,403,000  
Repayment of senior unsecured notes (221,019,000)  
Proceeds from offering of common stock   227,374,000
Repayment of mortgages, loans payable and other obligations (22,424,000) (6,382,000)
Payment of financing costs (2,635,000) (14,000)
Proceeds from stock options exercised 0 3,048,000
Payment of dividends and distributions (134,927,000) (133,027,000)
Net cash used in financing activities (70,102,000) (110,001,000)
Net increase (decrease) in cash and cash equivalents 1,047,000 (5,997,000)
Cash and cash equivalents, beginning of period 20,496,000 21,851,000
Cash and cash equivalents, end of period $ 21,543,000 $ 15,854,000