Mortgages, Notes and Accrued Interest Receivable

12 Months Ended

Dec. 31, 2011

Mortgages, Notes and Accrued Interest Receivable [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Mortgages, Notes and Accrued Interest Receivable:

Mortgages are secured by real estate, real estate securities or other assets. Structured finance investments are secured by the borrowers’ pledge of their respective membership interests in the entities which own the respective real estate. Mortgages and notes receivable consisted of the following at December 31, (dollars in thousands):

	2011			2010
Mortgages and notes receivable	$	32,751		$	29,750
Accrued interest receivables, net of reserves	730			644
Unamortized discount	(53		)	(63		)
	$	33,428		$	30,331

In connection with the evaluation of the collectibility of its mortgages and notes receivable, during the year ended December 31, 2010, NNN recorded a valuation reserve of $5,625,000 included in Impairment losses and other charges, net of recoveries in the Consolidated Statements of Earnings. During the year ended December 31, 2011, $3,115,000 of this valuation reserve was recovered and included in Impairment losses and other charges, net of recoveries in the Consolidated Statements of Earnings.