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Investment in Unconsolidated and Consolidated Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2012

Investment in Unconsolidated and Consolidated Joint Ventures [Abstract]

Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures

Unaudited condensed balance sheet information of the Company’s unconsolidated and consolidated joint ventures as of June 30, 2012 and December 31, 2011 and condensed statements of operations for the six months ended June 30, 2012 and June 30, 2011 are as follows:

Statement of Operations

for the six months ending June 30, 2012

(In thousands)


	UNCONSOLIDATED														CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC		Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	59,001		$	53	$	975		$	—		$	60,029		$	135

Net income (loss)	$	1,540		$	46	$	(282	)	$	(47	)	$	1,257		$	(160	)

Partner’s share of net income (loss)	$	616		$	23	$	(141	)	$	(24	)	$	474		$	(50	)

Equity in income (losses)	$	675		$	23	$	(141	)	$	(23	)	$	534		$	(110	)


Balance Sheet Information as of June 30, 2012
Current assets	$	13,704		$	63	$	804		$	456		$	15,027		$	301
Property and equipment, net		44,273			4,365		19,791			89,764			158,193			68,686
Other assets		264			—		307			—			571			—
Long-term debt		(17,725	)		—		(11,000	)		—			(28,725	)		—
Other liabilities		(3,578	)		—		(80	)		(492	)		(4,150	)		(944	)


Net assets	$	36,938		$	4,428	$	9,822		$	89,728		$	140,916		$	69,043

Statement of Operations

for the six months ending June 30, 2011

(In thousands)


	UNCONSOLIDATED															CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC			Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	54,709		$	—		$	228		$	127		$	55,064		$	127

Net income (loss)	$	611		$	(56	)	$	(702	)	$	(32	)	$	(179	)	$	(168	)

Partner’s share of net income (loss)	$	246		$	(28	)	$	(351	)	$	(16	)	$	(149	)	$	(60	)

Equity in income (losses)	$	365		$	(28	)	$	(351	)	$	(16	)	$	(30	)	$	(108	)


Balance Sheet Information as of December 31, 2011
Current assets	$	16,940		$	12		$	116		$	1,020		$	18,088		$	325
Property and equipment, net		44,092			4,255			16,509			85,127			149,983			67,684
Other assets		307			—			37			—			344			—
Long-term debt		(18,076	)		—			(8,625	)		—			(26,701	)		—
Other liabilities		(2,648	)		—			(201	)		(1,122	)		(3,971	)		(1,106	)


Net assets	$	40,615		$	4,267		$	7,836		$	85,025		$	137,743		$	66,903