Net Assets in Liquidation

9 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

5.	Net Assets in Liquidation

Net assets in liquidation decreased by $42,112,000 during the nine months ended September 30, 2015. The primary reason for the decrease in net assets was due to liquidating distributions to holders of Common Shares of $45,531,000, a $1,557,000 increase in estimated corporate expenditures resulting primarily from increases in estimated fees payable to the advisor as a result of increases in liquidation values of certain investments and a $918,000 decrease in the value of the Trust’s loan securities resulting from a new appraisal of the collateral underlying the security. These decreases were offset by a $4,723,000 net increase in investments in real estate, a $499,000 net increase in the liquidation value of equity investments and a $400,000 decrease in the liability for non-controlling interests.

The net assets in liquidation at September 30, 2015 would result in liquidating distributions of approximately $15.17 per Common Share. This estimate of liquidating distributions includes projections of costs and expenses to be incurred during the period required to complete the plan of liquidation. There is inherent uncertainty with these projections, and they could change materially based on the timing of sales, the performance of underlying assets and any changes in the underlying assumptions of the projected cash flows.