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Notes Receivable Backed by Real Estate
 6 Months Ended
Jun. 30, 2012
Notes Receivable Backed by Real Estate [Abstract]  
Notes Receivable Backed by Real Estate
5.   Notes Receivable Backed by Real Estate

The activity on the notes receivable backed by real estate for the six months ended June 30, 2012 is as follows (in thousands):

 

                                 
    $188 million
Preferred
Equity Interest		     $55 million
Preferred
Equity Interest		     NAIF II
Secured
Mortgage
Receivable (1)		     Total  

Balance as of December 31, 2011

   $ 188,000     $ 55,970     $ 78,864     $ 322,834  

Elimination upon acquisition of NAIF II

     —         —         (78,864 )      (78,864 ) 

Accrued interest/(interest payments received), net

     1,694       (10 )      —         1,684  
   

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of June 30, 2012

   $ 189,694     $ 55,960     $ —       $ 245,654  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) The balance as of December 31, 2011 represented a loan to NAIF II secured by 12 buildings. In February 2012, we purchased the remaining interest in NAIF II. As a result, we began consolidating this entity and eliminated this note receivable. See Note 2 for more detail on this transaction.