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Investments in Unconsolidated Entities
3 Months Ended
Mar. 31, 2012
Investments in Unconsolidated Entities [Abstract]  
Investments in Unconsolidated Entities

7. Investments in Unconsolidated Entities

 

     During the year ended December 31, 2010, we entered into a joint venture investment with Forest City Enterprises (NYSE:FCE.A and FCE.B). We acquired a 49% interest in a seven-building life science campus located at University Park in Cambridge, Massachusetts, which is immediately adjacent to the campus of the Massachusetts Institute of Technology. In connection with these transactions, we invested $174,692,000 of cash which was recorded as an investment in unconsolidated entities on the balance sheet. The results of operations for these properties have been included in our consolidated results of operations from the date of acquisition by the joint venture and are reflected in our statement of comprehensive income as income from unconsolidated entities. The aggregate remaining unamortized basis difference of our investment in this joint venture of $4,818,000 at March 31, 2012 is primarily attributable to real estate and related intangible assets and will be amortized over the life of the related properties and included in the reported amount of income from unconsolidated entities. In addition, at March 31, 2012, we had other investments in unconsolidated entities with our ownership ranging from 10% to 50%.