Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2013

Summarized Balance Sheets for Unconsolidated Investments

Summarized financial information for the unconsolidated investments on a combined 100% basis is as follows:

	March 31, 2013		December 31, 2012
BALANCE SHEETS:
Investment in real estate	$	12,381	$	12,381
Cash and cash equivalents		18,098		18,523
Other assets		357		130
Total assets	$	30,836	$	31,034
Accounts payable and other liabilities	$	827	$	761
Equity(1)		30,009		30,273
Total liabilities and equity	$	30,836	$	31,034

⁽¹⁾  The majority of the equity in unconsolidated investments relates to ALP Liquidating Trust (“The Trust). In 2008, the Company wrote-off its investment in the Trust as a result of the Trust reserving its assets to satisfy potential claims and obligations in accordance with its publicly reported liquidation basis of accounting. Subsequently, the Trust changed its method of accounting to a going concern basis and reinstated its equity and stated it would report certain expenses as they are incurred. The Company has not recorded any additional equity income as a result of the trust’s change in accounting.

Summarized Statements of Operations for Unconsolidated Investments

	For the Three Months Ended March 31,
	2013			2012
STATEMENTS OF OPERATIONS:
Total expenses	$	332		$	248
Net loss	$	(332	)	$	(248	)