Investments in and Advances to Unconsolidated Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Joint Ventures

As of September 30, 2012, our investments in and advances to unconsolidated joint ventures in the condensed consolidated balance sheets were composed of the following:



				Investment Balance
Joint Venture ⁽¹⁾	Number of Properties	Location	Ownership	September 30, 2012		December 31, 2011
				(In thousands)
Investments in unconsolidated joint ventures:
GRI-EQY I, LLC ⁽²⁾	10	GA, SC, FL	10.0%	$	8,355	$	7,705
G&I Investment South Florida Portfolio, LLC	3	FL	20.0%	3,504		3,215
Madison 2260 Realty LLC	1	NY	8.6%	634		1,066
Madison 1235 Realty LLC	1	NY	20.1%	1,000		1,000
Talega Village Center JV, LLC ⁽³⁾	1	CA	50.5%	3,041		3,620
Vernola Marketplace JV, LLC ⁽³⁾	1	CA	50.5%	7,180		7,433
Parnassus Heights Medical Center	1	CA	50.0%	20,459		13,695
Equity One JV Portfolio, LLC ⁽⁴⁾	3	FL, MA	30.0%	16,773		11,393
Total				60,946		49,127
Advances to unconsolidated joint ventures				503		1,031
				$	61,449	$	50,158

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⁽¹⁾ With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

⁽²⁾ The investment balance as of September 30, 2012 and December 31, 2011 is presented net of deferred gains of $3.3 million for both periods associated with the disposition of assets by us to the joint venture.

⁽³⁾ Our effective interest is 48% when considering the 5% noncontrolling interest held by Vestar Development Company.

⁽⁴⁾ The investment balance as of September 30, 2012 and December 31, 2011 is presented net of a deferred gain of approximately $404,000 for both periods associated with the disposition of assets by us to the joint venture in 2011.