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Note 10 - Construction Loans
6 Months Ended
Jun. 30, 2011
Construction Loans

10. Construction Loans


As of June 30, 2011, the Company had three construction loans with total loan commitments aggregating approximately $82.5 million, of which approximately $40.2 million has been funded. These loans are scheduled to mature in 2012 and 2035 and bear interest at rates of LIBOR plus 1.90% (2.09% at June 30, 2011) to 5.80%.  These construction loans are collateralized by the respective projects and associated tenants’ leases.