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Investment in Unconsolidated Affiliates (LP) | 9 Months Ended
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Sep. 30, 2011
Investments In and Advances To Affiliates [Abstract] |
Investment In and Advances To Affiliates (LP) | 4. Investment in and Advances to Unconsolidated Affiliates We have equity interests of 50.0% or less in various joint ventures with unrelated third parties and a debt interest in one of those joint ventures, as described below. The following table sets forth the combined, summarized income statements for our unconsolidated joint ventures:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
Income Statements: |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 24,618 |  | $ | 25,508 |  | $ | 72,576 |  | $ | 90,774 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Rental property and other expenses |  |  | 10,239 |  |  | 12,096 |  |  | 31,765 |  |  | 43,751 |
Depreciation and amortization |  |  | 6,437 |  |  | 6,364 |  |  | 18,736 |  |  | 23,005 |
Interest expense |  |  | 5,802 |  |  | 5,907 |  |  | 17,310 |  |  | 21,311 |
Total expenses |  |  | 22,478 |  |  | 24,367 |  |  | 67,811 |  |  | 88,067 |
Net income |  | $ | 2,140 |  | $ | 1,141 |  | $ | 4,765 |  | $ | 2,707 |
Our share of: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of real estate assets |  | $ | 2,028 |  | $ | 2,076 |  | $ | 6,078 |  | $ | 8,077 |
Interest expense |  | $ | 1,944 |  | $ | 2,166 |  | $ | 6,093 |  | $ | 8,294 |
Net income |  | $ | 448 |  | $ | 454 |  | $ | 2,142 |  | $ | 989 |
Our share of net income |  | $ | 448 |  | $ | 454 |  | $ | 2,142 |  | $ | 989 |
Purchase accounting and management, leasing and other fees adjustments |  |  | 665 |  |  | 579 |  |  | 1,803 |  |  | 1,716 |
Equity in earnings of unconsolidated affiliates |  | $ | 1,113 |  | $ | 1,033 |  | $ | 3,945 |  | $ | 2,705 |
In the third quarter of 2011, our joint venture partner exercised its option to acquire our 10.0% equity interest in the HIW Development B, LLC joint venture, which recently completed construction of a build-to-suit office property in Charlotte, NC. As a result, we received gross proceeds of $4.8 million and recorded a gain on disposition of investment in unconsolidated affiliate related to this merchant build project of $2.3 million in the third quarter of 2011.

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