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TREASURY UNITS | 6 Months Ended
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Jun. 30, 2012
TREASURY UNITS |
TREASURY UNITS |
NOTE 8. TREASURY UNITS Treasury Units at June 30, 2012 are as follows:
Class A |  | 39,062 |
Class B |  | 9,276 |
General Partnership |  | 489 |
|  | 48,827 |
On August 20, 2007, NewReal, Inc., the General Partner authorized an equity repurchase program (“Repurchase Program”). Under the terms of the Repurchase Program, the Partnership may purchase up to 1,500,000 Depositary Receipts from the start of the program in 2007 through March 31, 2015. The Repurchase Program requires the Partnership to repurchase a proportionate number of Class B Units and General Partnership Units in connection with any repurchases of any Depositary Receipts by the Partnership based upon the 80%, 19%, and 1% fixed distribution percentages of the holders of the Class A, Class B and General Partner Units under the Partnership’s Second Amended and Restate Contract of Limited Partnership. Repurchases of Depositary Receipts or Partnership Units pursuant to the Repurchase Program may be made by the Partnership from time to time in its sole discretion in open market transactions or in privately negotiated transactions. From August 20, 2007 through June 30, 2012, the Partnership has repurchased 1,197,013 Depositary Receipts at an average price of $24.62 per receipt (or $738.60 per underlying Class A Unit), 1,740 Class B Units and 92 General Partnership Units, at an average price of $587.01 per Unit, totaling approximately $30,549,000 including brokerage fees paid by the Partnership. During the six months ended June 30, 2012, the Partnership purchased 2,053 Depositary Receipts for a cost of $55,778, 16 Class B Units for a cost of $12,921 and 1 General Partnership Unit for a cost of $680 for a total cost of $69,379. Through August 8, 2012, the Partnership purchased a total of 251 Depositary Receipts. The price was $26.55 per receipt or $793.50 per unit. The total cost was $6,995. The Partnership is required to repurchase approximately 1.99 Class B Units and 0.11 General Partnership units at a cost of $ 1,581 and $83, respectively.

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- Definition The entire disclosure for an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation. + References No definition available. + Details
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