FAD and Dividend Coverage

  • FAD of $10.2 million for 1Q08 compared to $11.5 million for 1Q07

  • Dividends paid on common stock of $9.8 million for the quarter ended March 31, 2008

  • $937,000 for non-revenue producing capital improvements in 1Q08 ($0.07 PSF in portfolio) compared to $918,000 in 1Q07 ($0.07 PSF in portfolio)

  • $2.34 million for tenant improvements in 1Q08

  • $1.21 million for leasing commissions in 1Q08