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Investment in Unconsolidated Joint Ventures
 9 Months Ended
Sep. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
The Company describes its investments in unconsolidated joint ventures in Note 4 of “Notes to Consolidated Financial Statements” in its Annual Report on Form 10-K for the year ended December 31, 2011. The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of September 30, 2012 and December 31, 2011 (in thousands):
 
 
Total Assets
 
Total Debt
 
Total Equity
 
Company’s Investment
 
SUMMARY OF FINANCIAL POSITION:
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
 Palisades West LLC
 
$
120,035

 
$
124,588

 
$
—

 
$
—

 
$
79,025

 
$
81,635

 
$
41,259

 
$
42,616

 
 EP I LLC
 
74,387

 
33,343

 
33,525

 
1

 
32,999

 
29,137

 
28,175

 
24,827

 
 Cousins Watkins LLC
 
54,888

 
56,096

 
28,331

 
28,571

 
25,647

 
26,893

 
16,439

 
16,321

 
 CF Murfreesboro Associates
 
122,685

 
125,668

 
95,586

 
98,922

 
25,125

 
24,810

 
14,509

 
14,421

 
 CP Venture IV Holdings LLC
 
290,149

 
301,352

 
35,572

 
36,031

 
246,690

 
255,881

 
14,092

 
14,694

 
 Charlotte Gateway Village, LLC
 
144,152

 
146,854

 
72,046

 
83,097

 
68,705

 
62,423

 
10,308

 
10,333

 
 Temco Associates, LLC
 
8,404

 
23,653

 
—

 
2,787

 
8,056

 
20,646

 
4,006

 
7,363

 
 MSREF/ Cousins Terminus 200 LLC
 
95,641

 
92,421

 
74,117

 
68,562

 
19,927

 
17,967

 
3,984

 
3,593

 
 CL Realty, L.L.C.
 
7,274

 
44,481

 
—

 
1,056

 
6,927

 
42,932

 
3,464

 
22,413

 
 CP Venture LLC entities
 
100,258

 
102,178

 
—

 
—

 
98,509

 
99,942

 
3,192

 
3,343

 
 Pine Mountain Builders, LLC
 
225

 
429

 
—

 
—

 
41

 
153

 
209

 
632

 
 Ten Peachtree Place Associates
 
790

 
22,523

 
—

 
26,192

 
758

 
(4,145
)
 
116

 
(3,679
)
 *
 TRG Columbus Development Venture, Ltd.
 
2,389

 
2,450

 
—

 
—

 
1,847

 
1,857

 
29

 
31

 
 Terminus 200 LLC
 
789

 
789

 
—

 
—

 
789

 
789

 
—

 
—

 
 Wildwood Associates
 
21,281

 
21,224

 
—

 
—

 
21,185

 
21,221

 
(1,658
)
 *
(1,639
)
 *
 Crawford Long - CPI, LLC
 
33,153

 
32,739

 
46,787

 
47,631

 
(15,729
)
 
(16,137
)
 
(6,698
)
 *
(6,873
)
 *
 
 
$
1,076,500

 
$
1,130,788

 
$
385,964

 
$
392,850

 
$
620,501

 
$
666,004

 
$
131,426

 
$
148,396

 
*Negative balances are included in Deferred Income on the Balance Sheets.
The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the nine months ended September 30, 2012 and 2011 (in thousands):
 
 
Total Revenues
 
Net Income (Loss)
 
Company's Share of Income (Loss)
SUMMARY OF OPERATIONS:
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 Palisades West LLC
 
$
12,566

 
$
12,256

 
$
4,350

 
$
4,371

 
$
2,083

 
$
2,132

 EP I LLC
 
306

 
—

 
(53
)
 
(6
)
 
(39
)
 
(4
)
 Cousins Watkins LLC
 
4,365

 
3,633

 
24

 
47

 
1,810

 
1,799

 CF Murfreesboro Associates
 
9,920

 
9,903

 
316

 
307

 
(46
)
 
(44
)
 CP Venture IV Holdings LLC
 
22,558

 
23,133

 
2,814

 
3,111

 
778

 
811

 Charlotte Gateway Village, LLC
 
24,821

 
24,324

 
7,189

 
6,517

 
882

 
882

 Temco Associates, LLC
 
560

 
405

 
(141
)
 
(782
)
 
(275
)
 
(383
)
 MSREF/ Cousins Terminus 200 LLC
 
9,242

 
3,875

 
(727
)
 
(2,912
)
 
(146
)
 
(584
)
 CL Realty, L.L.C.
 
2,294

 
5,282

 
840

 
2,481

 
105

 
1,007

 CP Venture LLC entities
 
14,535

 
14,259

 
7,280

 
6,132

 
752

 
619

 Pine Mountain Builders, LLC
 
1,260

 
2,926

 
(111
)
 
(156
)
 
(423
)
 
(78
)
 Ten Peachtree Place Associates
 
2,488

 
5,413

 
20,938

 
801

 
7,852

 
413

 TRG Columbus Development Venture, Ltd.
 
9

 
23

 
(10
)
 
(1
)
 
(3
)
 
48

 Wildwood Associates
 
—

 
—

 
(127
)
 
(126
)
 
(63
)
 
(63
)
 Crawford Long - CPI, LLC
 
8,697

 
8,924

 
1,908

 
1,828

 
950

 
913

 
 
$
113,621

 
$
114,356

 
$
44,490

 
$
21,612

 
$
14,217

 
$
7,468


In March 2012, CL Realty, L.L.C. and Temco Associates, LLC sold their interests in 18 residential development projects and related residential land to Forestar Realty Inc., the Company's partner in both ventures. The Company's share of the proceeds from the sale was $23.5 million.
In the second quarter of 2012, the Ten Peachtree Place Associates joint venture sold Ten Peachtree Place, a 260,000 square foot office building in Atlanta, Georgia, for $45.3 million. The Company recognized a gain on this transaction through income from unconsolidated entities of $7.5 million.
In the third quarter of 2012, Dimensional Fund Advisors, the Company's partner in Palisades West LLC, notified the Company that it will exercise its option to purchase the Company's interests in the joint venture. This transaction is expected to close in the fourth quarter of 2012.