EXHIBIT 99.1
SELECTED QUARTERLY FINANCIAL INFORMATION
(UNAUDITED)
Selected quarterly information for the years ended December 31, 1994 and 1993 is
as follows (in thousands, except per share amounts):
Quarter Ended
-------------------------------------------------------------
1994 DECEMBER 31 SEPTEMBER 30 JUNE 30 MARCH 31
------------------------------------- ----------- ------------ ------- ---------
Revenues $ 28,738 $ 27,826 $ 26,295 $ 24,972
Net income $ 7,111 $ 7,685 $ 5,821 $ 5,599
Net income per share (1) $ 0.35 $ 0.48 $ 0.36 $ 0.35
Weighted average shares 20,304 16,072 16,046 16,046
Funds From Operations (2) $ 13,992 $ 12,129 $ 11,828 $ 11,410
Funds From Operations per share/unit (2) $ 0.58 $ 0.59 $ 0.58 $ 0.56
Weighted average shares/units outstanding (2) 24,312 20,566 20,478 20,478
1993
-------------------------------------
Revenues $ 26,188 $ 4,301 $ 4,437 $ 4,243
Net income (loss) $ 6,003 $ (383) $ (257) $ (350)
Net income (loss) per share (1) $ 0.37 $ (0.19) $ (0.13) $ ( 0.17)
Weighted average shares 16,046 2,045 2,045 2,045
Funds From Operations (2) $ 11,231 $ 10,433 $ 10,499 $ 10,003
Funds From Operations per share/unit (2) $ 0.55 $ 0.53 $ 0.51 $ 0.49
Weighted average shares/units outstanding (2) 20,478 20,478 20,478 20,478
<FN>
(1) Quarterly net income (loss) per share prior to the fourth quarter of 1993
has been adjusted for the 1 for 4.2 reverse stock split effected prior to
the completion of the 1993 Offering. Net income per share for all quarters
subsequent to the 1993 Offering is based on the weighted average number of
shares outstanding during each quarter.
(2) Funds From Operations is presented without reduction for minority interest
of unitholders. Funds From Operations per share/unit includes the effect
of minority interest partnership units. Funds From Operations and Funds
From Operations per share/unit prior to the fourth quarter of 1993 are
presented on a pro forma basis.
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