Investments In Unconsolidated Joint Ventures And Entities

6 Months Ended

Jun. 30, 2012

Investments In Unconsolidated Joint Ventures And Entities [Abstract]

Investments In Unconsolidated Joint Ventures and Entities

Note 7 – Investments in Unconsolidated Joint Ventures and Entities

     Our investments in unconsolidated joint ventures and entities are accounted for under the equity method of accounting except for Rialto Distribution, which is accounted for as a cost method investment, and, as of June 30, 2012 and December 31, 2011, included the following (dollars in thousands):

	Interest		June 30, 2012		December 31, 2011
Rialto Distribution	33.3	%	$	-	$	-
Rialto Cinemas	50.0	%		1,688		1,586
205-209 East 57th Street Associates, LLC	25.0	%		33		33
Mt. Gravatt	33.3	%		5,927		6,220
Total investments			$	7,648	$	7,839

     For the three months ended June 30, 2012 and 2011, we recorded our share of equity earnings from our investments in unconsolidated joint ventures and entities as follows (dollars in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
	2012		2011			2012		2011
Rialto Distribution	$	51	$	55		$	112	$	112
Rialto Cinemas		26		(65	)		57		(53	)
205-209 East 57th Street Associates, LLC		-		-			-		33
Mt. Gravatt		322		279			643		541
Total equity earnings	$	399	$	269		$	812	$	633