General and Administrative Expenses

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

General and Administrative Expenses

Note 13. General and Administrative Expenses

General and administrative expenses for the nine months ended September 30, 2011 and 2010 consisted of the following (in thousands):

	Nine Months Ended September 30,
General and Administrative Expenses	2011		2010
Personnel costs		$7,162		$7,103
Restructuring awards		2,750		—
Professional services		3,914		4,129
Operating and other costs		1,617		1,761
Subtotal		15,443		12,993
Non-cash personnel costs
Management incentive awards plan - CT Legacy REIT		3,395		—
Employee stock-based compensation		411		107
Subtotal		3,806		107
Expenses of consolidated securitization vehicles		619		1,298
Total		$19,868		$14,398