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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2012
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS During April 2012, the Company acquired 930 Rush Street, a 2,930 square foot single tenant property located in Chicago, IL for $20.7 million. During April 2012, Fund III acquired Lincoln Park Centre, a 62,700 square foot retail property located in Chicago, IL for $31.5 million, including the assumption of debt of $19.8 million. During April 2012, the Company amended an existing $56.5 million construction loan collateralized by a property with a $69.6 million mini-permanent loan. The loan bears interest at LIBOR plus 2.25% and matures on May 1, 2015 with two one-year extension options. Concurrent with this transaction, the Company entered into two interest rate swap agreements with a combined notional value of $69.6 million which fixes LIBOR at 0.70% through May 1, 2015.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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