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Investments in Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2012
Condensed Combined Balance Sheets | The combined summarized financial information of the investments in Joint Ventures is as follows:
|  | December 31, 2012 |  |  | December 31, 2011 |
Condensed Combined Balance Sheets: |  |  |  |  |  |  |  |
Gross Investment in Real Estate |  | $ | 115,488 |  |  | $ | 155,555 |
Less: Accumulated Depreciation |  |  | (38,535 | ) |  |  | (41,342 | )
Net Investment in Real Estate |  |  | 76,953 |  |  |  | 114,213 |
Other Assets |  |  | 17,327 |  |  |  | 23,364 |
Total Assets |  | $ | 94,280 |  |  | $ | 137,577 |
Indebtedness |  | $ | 81,764 |  |  | $ | 112,261 |
Other Liabilities |  |  | 4,817 |  |  |  | 5,779 |
Equity |  |  | 7,699 |  |  |  | 19,537 |
Total Liabilities and Equity |  | $ | 94,280 |  |  | $ | 137,577 |
Company’s Share of Equity |  | $ | 1,252 |  |  | $ | 3,029 |
Basis Differentials(1) |  |  | (448 | ) |  |  | (1,564 | )
Carrying Value of the Company’s Investments in Joint Ventures |  | $ | 804 |  |  | $ | 1,465 |
(1) | This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level. Basis differentials are primarily comprised of impairments we recorded to reduce certain of our investments in the 2003 Net Lease Joint Venture to fair value and certain deferred fees which are not reflected at the joint venture level.
Condensed Combined Statements of Operations |
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Condensed Combined Statements of Operations: |  |  |  |  |  |  |  |  |  |  |  |
Total Revenues |  | $ | 12,385 |  |  | $ | 12,442 |  |  | $ | 51,552 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating and Other |  |  | 2,188 |  |  |  | 2,350 |  |  |  | 23,111 |
Impairment of Real Estate |  |  | — |  |  |  | — |  |  |  | 3,268 |
Depreciation and Other Amortization |  |  | 5,632 |  |  |  | 5,673 |  |  |  | 25,480 |
Interest Expense |  |  | 6,087 |  |  |  | 6,311 |  |  |  | 27,263 |
Total Expenses |  |  | 13,907 |  |  |  | 14,334 |  |  |  | 79,122 |
Discontinued Operations: |  |  |  |  |  |  |  |  |  |  |  |
(Loss) Income Attributable to Discontinued Operations |  |  | (207 | ) |  |  | 11 |  |  |  | (309 | )
Gain on Sale of Real Estate |  |  | 4,974 |  |  |  | 3,137 |  |  |  | 2,761 |
Income from Discontinued Operations |  |  | 4,767 |  |  |  | 3,148 |  |  |  | 2,452 |
Gain on Sale of Real Estate |  |  | — |  |  |  | — |  |  |  | 808 |
Net Income (Loss) |  | $ | 3,245 |  |  | $ | 1,256 |  |  | $ | (24,310 | )
Equity in Income of Joint Ventures |  | $ | 1,559 |  |  | $ | 980 |  |  | $ | 675 |

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