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Investments in Joint Ventures
3 Months Ended
Mar. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Joint Ventures
4. Investments in Joint Ventures
At March 31, 2013, the 2003 Net Lease Joint Venture owned five industrial properties comprising approximately 2.7 million square feet of GLA. The 2003 Net Lease Joint Venture is considered a variable interest entity in accordance with the FASB guidance on the consolidation of variable interest entities. We continue to conclude that we are not the primary beneficiary of this venture. As of March 31, 2013, our investment in the 2003 Net Lease Joint Venture is $1,043. Our maximum exposure to loss is equal to our investment. We continue to hold our 10% equity interest in the 2007 Europe Joint Venture. As of March 31, 2013, the 2007 Europe Joint Venture did not own any properties.
At March 31, 2013 and December 31, 2012, we have receivables from the Joint Ventures in the aggregate amount of $18 and $19, respectively. These receivable amounts are included in Prepaid Expenses and Other Assets, Net. During the three months ended March 31, 2013 and 2012, we recognized fees from our Joint Ventures of $58 and $76, respectively.