4)	Assets Held for Sale

In January 2011, we made the decision to sell our Remington Village multifamily project in Gillette, Wyoming and plan to use the proceeds to further the development of our oil and gas business. On July 9, 2012, the Company entered into a Letter of Intent ("LOI") to sell Remington Village for $16.0 million. As a result of the anticipated sale amount, at June 30, 2012, the Company recorded a non-cash impairment of $2.0 million to adjust the carrying value of the project to the expected sale value. Ultimately, we could not reach mutually agreeable terms for the sale and the LOI was terminated. We will continue to market the property for sale.

As of June 30, 2012, the accompanying condensed consolidated balance sheets present approximately $16 million in book value of assets held for sale, net of accumulated depreciation, and $10.2 million in liabilities held for sale. Because Remington Village has been classified as an asset held for sale, scheduled depreciation of $448,000 for the first six months of 2012 and $473,000 for the first six months of 2011 was not recorded. Remington is pledged as collateral on a $10.0 million note. At such time as Remington is sold, the debt balance will be retired.

Operations related to Remington Village are shown in discontinued operations on the accompanying condensed consolidated statements of operations.