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INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Tables)
 9 Months Ended
Sep. 30, 2012
INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Tables)  
INVESTMENTS ACCOUNTED

Investments in unconsolidated subsidiaries, jointly owned companies and other investees in which we have a 20% to 50% interest or otherwise exercise significant influence are carried at cost, adjusted for the Company’s proportionate share of their undistributed earnings or losses, via the equity method of accounting.  Investments accounted for via the equity method consists of the following:

 

Investee

 

Percent ownership

 

 

 

 

 

 

2012

 

 

2011

 

 

 

 

TCI Eton Square, L.P. ("Eton Square")

 

 

10.00

%

 

 

10.00

%

 

 

 

 
RESULTS OF OPERATIONS FROM OUR INVESTEES

The following is a summary of the financial position and results of operations from our investees (dollars in thousands):

 

 

 

For the Nine Months Ended September 30,

 

 

 

2012

 

 

2011

 

Real estate, net of accumulated depreciation

 

$

12,586

 

 

$

13,037

 

Other assets

 

 

659

 

 

 

747

 

Notes payable

 

 

(9,363

)

 

 

(9,363

)

Other liabilities

 

 

(3,950

)

 

 

(3,750

)

Shareholders' equity/partners' capital

 

$

68

 

 

$

(671

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

866

 

 

$

1,255

 

Depreciation

 

 

(350

)

 

 

(348

)

Operating expenses

 

 

(636

)

 

 

(672

)

Interest expense

 

 

(314

)

 

 

(449

)

Loss from continuing operations

 

 

(434

)

 

 

(214

)

Income from discontinued operations

 

 

-

 

 

 

-

 

Net loss

 

$

(434

)

 

$

(214

)

 

 

 

 

 

 

 

 

 

Company's proportionate share of loss*

 

$

(43

)

 

$

(21

)