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Note 5 - Other Real Estate Investments and Other Assets
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Other Real Estate Investments and Other Assets [Text Block]
5.
Other Real Estate Investments
 
Preferred Equity Capital -
 
The Company previously provided capital to owners and developers of real estate properties through its Preferred Equity Program. The Company’s maximum exposure to losses associated with its preferred equity investments is primarily limited to its net investment
.
As of
March
31,
2017,
the Company’s net investment under the Preferred Equity Program was
$193.1
million relating to
361
properties, including
346
net leased properties.  During the
three
months ended
March
31,
2017,
the Company earned
$3.8
million from its preferred equity investments.  During the
three
months ended
March
31,
2016,
the Company earned
$10.8
million from its preferred equity investments, including
$6.9
million in profit participation, before taxes, earned from a capital transaction. These amounts are included in Equity in income of other real estate investments, net on the Company’s Condensed Consolidated Statements of Income.