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Investment In Cedar/RioCan Joint Venture | 9 Months Ended
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Sep. 30, 2012
Investment In Cedar/RioCan Joint Venture [Abstract] |
Investment In Cedar/RioCan Joint Venture | Note 5. Investment in Cedar/RioCan Joint Venture At September 30, 2012, the Cedar/RioCan joint venture (RioCan – 80%; Cedar – 20%) owned 22 properties (see Note 1 for information relating to the Company’s exit from the joint venture on October 10, 2012). The Company earned fees from the joint venture of approximately $0.9 million and $0.7 million for the three months ended September 30, 2012 and 2011, respectively, and $2.1 million and $1.9 million for the nine months ended September 30, 2012 and 2011, respectively. Such fees are included in other revenues in the accompanying consolidated statements of operations. The following summarizes certain financial information related to the Company’s investment in the Cedar/RioCan unconsolidated joint venture:
Balance Sheets |  | September 30, |  | December 31,
|  | 2012 |  | 2011
Assets: |  |  |  |
Real estate, net |  | $ 519,115,000 |  | $ 532,071,000
Cash and cash equivalents |  | 7,463,000 |  | 12,797,000
Restricted cash |  | 3,254,000 |  | 3,689,000
Rent and other receivables |  | 2,107,000 |  | 2,419,000
Straight-line rents |  | 3,902,000 |  | 2,743,000
Deferred charges, net |  | 11,516,000 |  | 12,682,000
Other assets |  | 6,268,000 |  | 5,549,000
Total assets |  | $ 553,625,000 |  | $ 571,950,000
Liabilities and partners' capital: |  |  |  |
Mortgage loans payable |  | $ 313,592,000 |  | $ 317,293,000
Due to the Company |  | 623,000 |  | 1,203,000
Unamortized intangible lease liabilities |  | 19,637,000 |  | 22,182,000
Other liabilities |  | 10,063,000 |  | 8,248,000
Total liabilities |  | 343,915,000 |  | 348,926,000
Preferred stock |  | 97,000 |  | 97,000
Partners' capital |  | 209,613,000 |  | 222,927,000
Total liabilities and partners' capital |  | $ 553,625,000 |  | $ 571,950,000
The Company's share of partners' capital |  | $ 41,923,000 |  | $ 44,743,000
Statements of Income |  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2012 |  | 2011 |  | 2012 |  | 2011
Revenues |  | $ 15,866,000 |  | $ 15,538,000 |  | $ 47,810,000 |  | $ 46,827,000
Property operating and other expenses |  | (1,262,000) |  | (1,361,000) |  | (4,230,000) |  | (5,327,000)
Management fees |  | (541,000) |  | (501,000) |  | (1,593,000) |  | (1,451,000)
Real estate taxes |  | (1,896,000) |  | (1,826,000) |  | (5,758,000) |  | (5,377,000)
Acquisition transaction costs |  | (964,000) |  | (55,000) |  | (964,000) |  | (913,000)
General and administrative |  | (39,000) |  | (87,000) |  | (174,000) |  | (219,000)
Depreciation and amortization |  | (5,104,000) |  | (5,339,000) |  | (15,274,000) |  | (15,479,000)
Interest and other non-operating expenses, net |  | (4,006,000) |  | (4,835,000) |  | (12,660,000) |  | (13,914,000)
Net income |  | $ 2,054,000 |  | $ 1,534,000 |  | $ 7,157,000 |  | $ 4,147,000
The Company's share of net income |  | $ 411,000 |  | $ 327,000 |  | $ 1,432,000 |  | $ 829,000

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32787-111569 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32847-111569 + Details
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