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Subsequent Events
6 Months Ended
Jun. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

From July 1, 2012 to August 3, 2012, we sold two industrial properties for approximately $4,680. There were no industrial properties acquired during this period.

On July 3, 2012, the Operating Partnership entered into a loan commitment with a life insurance company lender for mortgage loans, aggregating to $97,561. The closings of the mortgage loans are subject to lender due diligence and documentation and there can be no assurance that the mortgage loans will close or, if closed, will generate the anticipated proceeds. The mortgage loans are expected to be cross-collateralized by 30 industrial properties, have a term of 10 years and bear interest at 4.03%.

On July 3, 2012, the Other Real Estate Partnerships entered into a loan commitment with a major life insurance company lender for a mortgage loan of $3,038. The closing of the mortgage loan is subject to lender due diligence and documentation and there can be no assurance that the mortgage loan will close or, if closed, will generate the anticipated proceeds. The mortgage loan is expected to be collateralized by one industrial property, have a term of 10 years and bear interest at 4.03%.

In 2009, we originated a mortgage loan receivable with a purchaser of one of our industrial properties. Subsequent to June 30, 2012, we were notified that the sole tenant in the industrial property that serves as collateral for the mortgage loan receivable filed for Chapter 7 bankruptcy. As of the date of this filing, the mortgagor is current on its loan payments. As of June 30, 2012, the mortgage loan receivable had an outstanding principal balance of $7,725, offset by an unamortized discount of $287, resulting in a carrying value of $7,438.