The
Company is reiterating its 2008 initial FFO outlook of $4.00 to $4.20
per diluted share. The reconciliation of forecasted earnings per
diluted share (“EPS”) to forecasted FFO per diluted share is as follows:
Outlook for 2008
Range
Fully diluted EPS
($0.40 - $0.25)
Plus: Real estate depreciation
and amortization
$5.35 - $5.42
Plus: Depreciation on
unconsolidated joint ventures
$0.05 - $0.05
Less: Minority interest
depreciation and amortization
($1.00 - $1.02)
FFO per diluted share
$4.00 - $4.20
(1) The assumptions
used in the
initial FFO outlook
were discussed in
the November 26,
2007 earnings
outlook press
release. The above
outlook reflects
Fund I acquisitions
completed during the
first quarter 2008
and does not include
any additional
acquisitions,
dispositions, joint
venture or fund-type
investments.