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GAIN ON SETTLEMENT OF DEBT | 12 Months Ended
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Dec. 31, 2011
GAIN ON SETTLEMENT OF DEBT |
GAIN ON SETTLEMENT OF DEBT |
NOTE 11—GAIN ON SETTLEMENT OF DEBT In June 2011, the Company paid off the $8,893,000 principal balance of the mortgage secured by the property previously leased to Robb & Stucky with a payment of $7,634,000. The $1,240,000 gain on settlement of debt is net of a $19,000 write off of the remaining balance of related deferred mortgage costs. The property was tested for impairment in June 2011 and it was determined that no charge was required. No additional indicators of impairment have been identified.

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- Definition This element represents the disclosure of the gain recognized as a result of the settlement of a mortgage payable net of deferred mortgage costs. + References No definition available. + Details
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