Table of Contents

 

				September 30, 2004				December 31, 2003
ASSETS
Investments in real estate:
	Land			$	212,091			$	164,524
	Acquired ground lease				30,425				30,425
	Buildings and improvements				1,571,686				1,346,923
	Land held for development and disposition				105,341				5,761
	Tenant improvements				157,849				130,629
	Furniture, fixtures and equipment				9,695				5,639
					2,087,087				1,683,901
	Less: accumulated depreciation and amortization				(177,426	)			(130,452	)
					1,909,661				1,553,449
Investment in real estate held for sale					78,584				-
					1,988,245				1,553,449
Cash and cash equivalents					103,690				43,735
Restricted cash					41,787				39,164
Rents and other receivables					9,306				7,887
Deferred rents					20,120				14,129
Due from affiliates					3,810				2,607
Deferred leasing costs and value of in-place leases, net					114,138				74,908
Deferred loan costs, net					14,667				23,659
Acquired above market leases					36,259				43,182
Other assets					8,887				3,198
	Total assets			$	2,340,909			$	1,805,918
LIABILITIES, MINORITY INTERESTS AND STOCKHOLDERS' EQUITY
Mortgage loans				$	1,284,250			$	1,161,250
Other secured loans					231,000				50,000
Accounts payable and other liabilities					81,715				58,216
Dividends and distributions payable					24,692				21,458
Capital leases payable					5,700				6,537
Acquired lease obligations					83,109				76,455
Obligations associated with real estate investment held for sale					946				-
	Total liabilities				1,711,412				1,373,916
Minority interests					77,227				88,578
Stockholders' equity:
	Preferred stock, $0.01 par value, 50,000,000 shares authorized:
	7.625% Series A Cumulative Redeemable Preferred Stock, $25.00
		liquidation preference, 10,000,000 shares issued and outstanding
		at September 30, 2004			100				-
	Common Stock, $0.01 par value, 100,000,000 shares authorized,
		43,102,125 and 42,645,711 shares issued and outstanding at