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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income (loss)$ 14,617$ (1,743)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:  
Depreciation2,4232,997
Amortization of loan costs4962
Gain from sale of discontinued operations(17,884)0
Loss on early extinguishment of debt2,3830
Casualty gain(342)0
Change in accounts:  
Receivables and deposits206(47)
Other assets4(35)
Accounts payable(198)47
Tenant security deposit liabilities(99)42
Accrued property taxes(210)(133)
Other liabilities(47)(149)
Due to affiliates10845
Net cash provided by operating activities1,0101,086
Cash flows used in investing activities:  
Net deposits to restricted escrow(28)0
Property improvements and replacements(1,739)(1,137)
Proceeds from sale of discontinued operations22,4820
Insurance proceeds received3520
Net cash provided by (used in) investing activities21,067(1,137)
Cash flows from financing activities:  
Repayment of mortgage notes payable(27,609)0
Proceeds from mortgage note payable12,8690
Payments on mortgage notes payable(518)(548)
Advances from affiliate3,669856
Repayment of advances from affiliate(1,667)(211)
Prepayment penalty paid(873)0
Loan costs paid(148)0
Distribution to partners(7,400)0
Net cash provided by (used in) financing activities(21,406)97
Net increase in cash and cash equivalents67146
Cash and cash equivalents at beginning of period489269
Cash and cash equivalents at end of period1,160315
Supplemental disclosure of cash flow information:  
Cash paid for interest3,0593,081
Supplemental disclosure of non-cash activities:  
Property improvements and replacements included in accounts payable332567
Prepayment penalty paid by purchaser1,3230
Distribution payable to partners$ 271$ 0