XML 90 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments in and Advances to Other Real Estate Partnerships (Tables)
 6 Months Ended
Jun. 30, 2013
Investments in and Advances to Other Real Estate Partnerships [Abstract]  
Condensed Combined Balance Sheets
Condensed Combined Balance Sheets
 
June 30,
2013
 
December 31,
2012
ASSETS
 
 
 
Assets:
 
 
 
Net Investment in Real Estate
$
269,077

 
$
264,284

Note Receivable
128,444

 
142,982

Other Assets, Net
33,047

 
34,476

Total Assets
$
430,568

 
$
441,742

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
Liabilities:
 
 
 
Mortgage Loans Payable
$
98,541

 
$
107,287

Other Liabilities, Net
12,577

 
11,570

Partners’ Capital
319,450

 
322,885

Total Liabilities and Partners’ Capital
$
430,568

 
$
441,742

Operating Partnership's Share of Equity
$
318,202

 
$
321,663

Basis Differentials (1)
(128,316
)
 
(143,559
)
Carrying Value of the Operating Partnership's Investments in Other Real Estate Partnerships
$
189,886

 
$
178,104

_________________
(1)    This amount represents the aggregate difference between the Operating Partnership's historical cost basis and the basis reflected at the Other Real Estate Partnerships' level. Basis differentials relate to the elimination of a note receivable and related accrued interest between a Other Real Estate Partnership and wholly owned subsidiaries of the Operating Partnership.
Condensed Combined Statements of Operations
Condensed Combined Statements of Operations
 
Three Months
Ended
June 30,
2013
 
Three Months
Ended
June 30,
2012
 
Six Months
Ended
June 30,
2013
 
Six Months
Ended
June 30,
2012
Total Revenues
$
9,941

 
$
10,258

 
$
19,741

 
$
20,294

Property Expenses
(3,074
)
 
(2,911
)
 
(6,250
)
 
(5,911
)
Impairment of Real Estate
—

 
—

 
—

 
172

Depreciation and Other Amortization
(3,059
)
 
(3,351
)
 
(6,109
)
 
(7,636
)
Interest Income
1,253

 
2,243

 
2,572

 
4,386

Interest Expense
(1,147
)
 
(1,477
)
 
(2,462
)
 
(2,961
)
Amortization of Deferred Financing Costs
(45
)
 
(51
)
 
(97
)
 
(103
)
Loss from Retirement of Debt
(214
)
 
—

 
(214
)
 
—

Income from Continuing Operations
3,655

 
4,711

 
7,181

 
8,241

Discontinued Operations:
 
 
 
 
 
 
 
Income (Loss) Attributable to Discontinued Operations
—

 
64

 
—

 
(197
)
Loss on Sale of Real Estate
—

 
(29
)
 
—

 
(29
)
Income (Loss) from Discontinued Operations
—

 
35

 
—

 
(226
)
Net Income
$
3,655

 
$
4,746

 
$
7,181

 
$
8,015