2.2.0.25falsefalse10301 - Disclosure - Investments in Unconsolidated Joint Venturestruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011 USD ($) USD ($) / shares $Duration_1_1_2011_To_3_31_2011http://www.sec.gov/CIK0001067063duration2011-01-01T00:00:002011-03-31T00:00:00Unit1Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit13Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0Unit12Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseInvestments in Unconsolidated Joint Ventures3false0us-gaap_EquityMethodInvestmentsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="display: inline; text-decoration: underline;" class="_mt">INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES</font></font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The debt of the Company's unconsolidated joint ventures generally is non-recourse to the Company, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions and material misrepresentations, and except as otherwise indicated below.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">PLAZA VIII AND IX ASSOCIATES, L.L.C.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Plaza VIII and IX Associates, L.L.C. is a joint venture between the Company and Columbia Development Company, L.L.C. ("Columbia"), which owns land for future development, located on the Hudson River waterfront in Jersey City, New Jersey, adjacent to the Company's Harborside Financial Center office complex.&nbsp;&nbsp;The Company and Columbia each hold a 50 percent interest in the venture.&nbsp;&nbsp;The venture owns undeveloped land currently used as a parking facility.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">SOUTH PIER AT HARBORSIDE &ndash; HOTEL</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company has a joint venture with Hyatt Corporation ("Hyatt") which owns a 350-room hotel on the South Pier at Harborside Financial Center, Jersey City, New Jersey.&nbsp;&nbsp;The Company owns a 50 percent interest in the venture.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The venture has a mortgage loan with a balance as of March 31, 2011 of $66 million collateralized by the hotel property.&nbsp;&nbsp;The loan carries an interest rate of 6.15 percent and matures in November 2016.&nbsp;&nbsp;The venture has a loan with a balance as of March 31, 2011 of $5.9 million with the City of Jersey City, provided by the U.S. Department of Housing and Urban Development.&nbsp;&nbsp;The loan currently bears interest at fixed rates ranging from 6.09 percent to 6.62 percent and matures in August 2020.&nbsp;&nbsp;The Company has posted a $5.9 million letter of credit in support of this loan, half of which is indemnified by Hyatt.&nbsp; The Company received a distribution of $1 million from the venture during the three months ended March 31, 2011.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">RED BANK CORPORATE PLAZA</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company has a joint venture with The PRC Group, which owns Red Bank Corporate Plaza, a 92,878 square foot office building located in Red Bank, New Jersey.&nbsp;&nbsp;The property is fully leased to Hovnanian Enterprises, Inc. through September 30, 2017.&nbsp;&nbsp;The Company holds a 50 percent interest in the venture.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The venture has a loan with a commercial bank collateralized by the office property, which carries a balance as of March 31, 2011 of $20.3 million, bears interest at a rate of the London Interbank Offered Rate ("LIBOR") plus 125 basis points and matures on April 30, 2011.&nbsp;&nbsp;LIBOR was 0.24 percent at March 31, 2011.&nbsp; The venture is discussing with the lender refinancing the loan.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company performs management, leasing and other services for the property owned by the joint venture and recognized $24,000 and $24,000 in fees for such services in the three months ended March 31, 2011 and 2010, respectively.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">MACK-GREEN-GALE LLC/GRAMERCY AGREEMENT</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On May 9, 2006, the Company entered into a joint venture, Mack-Green-Gale LLC and subsidiaries ("Mack-Green"), with SL Green, pursuant to which Mack-Green held an approximate 96 percent interest in and acted as general partner of Gale SLG NJ Operating Partnership, L.P. (the "OPLP").&nbsp;&nbsp;The Company's acquisition cost for its interest in Mack-Green was approximately $125 million, which was funded primarily through borrowing under the Company's revolving credit facility.&nbsp;&nbsp;At the time, the OPLP owned 100 percent of entities ("Property Entities") which owned 25 office properties (the "OPLP Properties") which aggregated 3.5 million square feet (consisting of 17 office properties aggregating 2.3 million square feet located in New Jersey and eight properties aggregating 1.2 million square feet located in Troy, Michigan).&nbsp;&nbsp;In December 2007, the OPLP sold its eight properties located in Troy, Michigan for $83.5 million.&nbsp;&nbsp;The venture recognized a loss of approximately $22.3&nbsp;million from the sale.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">As defined in the Mack-Green operating agreement, the Company shared decision-making equally with SL Green regarding:&nbsp;&nbsp;(i) all major decisions involving the operations of Mack-Green; and (ii) overall general partner responsibilities in operating the OPLP.</font></div> <div style="text-indent: 0pt; display: block;"><br />&nbsp;</div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Mack-Green operating agreement generally provided for profits and losses to be allocated as follows:</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div> <table style="font-family: times new roman; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr valign="top"><td style="width: 18pt;"> <div><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">&nbsp; </font></div></td> <td style="width: 27pt;"> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">(i)</font></div></td> <td> <div align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">99 percent of Mack-Green's share of the profits and losses from 10 specific OPLP Properties allocable to the Company and one percent allocable to SL Green;</font></div></td></tr></table></div> <div> <table style="font-family: times new roman; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr valign="top"><td style="width: 18pt;"> <div><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">&nbsp; </font></div></td> <td style="width: 27pt;"> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">(ii)</font></div></td> <td> <div align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">one percent of Mack-Green's share of the profits and losses from eight specific OPLP Properties and its minor interest in four office properties allocable to the Company and 99 percent allocable to SL Green; and</font></div></td></tr></table></div> <div style="text-indent: 18pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 percent of all other profits and losses allocable to the Company and 50 percent allocable to SL Green.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Substantially all of the OPLP Properties were encumbered by mortgage loans with an aggregate outstanding principal balance of $276.3 million at March 31, 2009.&nbsp;&nbsp;$185.0 million of the mortgage loans bore interest at a weighted average fixed interest rate of 6.26 percent per annum and matured at various times through May 2016.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Six of the OPLP Properties (the "Portfolio Properties") were encumbered by $90.3 million of mortgage loans which bore interest at a floating rate of LIBOR plus 275 basis points per annum and were scheduled to mature in May 2009. The floating rate mortgage loans were provided to the six entities which owned the Portfolio Properties (collectively, the "Portfolio Entities") by Gramercy, which was a related party of SL Green.&nbsp;&nbsp;Based on the venture's anticipated holding period pertaining to the Portfolio Properties, the venture believed that the carrying amounts of these properties may not have been recoverable at December 31, 2008.&nbsp; Accordingly, as the venture determined that its carrying value of these properties exceeded the estimated fair value, it recorded an impairment charge of approximately $32.3 million as of December 31, 2008.&nbsp;</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On April 29, 2009, the Company acquired the remaining interests in Mack-Green from SL Green.&nbsp;&nbsp;As a result, the Company owns 100 percent of Mack-Green.&nbsp;&nbsp;Additionally, on April 29, 2009, the mortgage loans with Gramercy on the Portfolio Properties (the "Gramercy Agreement") were modified to provide for, among other things, interest to accrue at the current rate of LIBOR plus 275 basis points per annum, with the interest pay rate capped at 3.15 percent per annum.&nbsp;&nbsp;Under the Gramercy Agreement, the payment of debt service is subordinate to the payment of operating expenses.&nbsp;&nbsp;Interest at the pay rate is payable only out of funds generated by the Portfolio Properties and only to the extent that the Portfolio Properties' operating expenses have been paid, with any accrued unpaid interest above the pay rate serving to increase the balance of the amounts due at the termination of the agreement.&nbsp;&nbsp;Any excess funds after payment of debt service generally will be escrowed and available for future capital and leasing costs, as well as to cover future cash flow shortfalls, as appropriate.&nbsp;&nbsp;The Gramercy Agreement terminates on May&nbsp;9, 2011.&nbsp;&nbsp;Approximately six months in advance of the end of the term of the Gramercy Agreement, the Portfolio Entities are to provide estimates of each&nbsp;property's fair market value ("FMV").&nbsp;&nbsp;Gramercy has the right to accept or reject the FMV.&nbsp;&nbsp;If Gramercy rejects the FMV, Gramercy must market the property for sale in cooperation with the Portfolio Entities and must approve the ultimate sale.&nbsp;&nbsp;However, Gramercy has no obligation to market a Portfolio Property if the FMV is less than the allocated amount due, including accrued, unpaid interest. If any Portfolio Property is not sold, the Portfolio Entities have agreed to give a deed in lieu of foreclosure, unless the FMV was equal to or greater than the allocated amount due for such Portfolio Property, in which case they can elect to have that Portfolio Property released by paying the FMV.&nbsp;&nbsp;If Gramercy accepts the FMV, the Portfolio Property will be released from the Gramercy Agreement upon payment of the FMV.&nbsp;&nbsp;Under the direction of Gramercy, the Company continues to perform management, leasing, and construction services for the Portfolio Properties at market terms.&nbsp;&nbsp;The Portfolio Entities have a participation interest which provides for sharing 50 percent of any amount realized in excess of the allocated amounts due for each Portfolio Property.&nbsp;&nbsp;On November 5, 2010, the Portfolio Entities that owned the remaining four unconsolidated Portfolio Properties provided estimates of the properties' fair market values to Gramercy, pursuant to the Gramercy Agreement.&nbsp;&nbsp;The parties are in discussion regarding an extension of the time period of the Gramercy Agreement.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">As the Company acquired SL Green's interests in Mack-Green, the Company owns 100 percent of Mack-Green and is consolidating Mack-Green as of the closing date.&nbsp;&nbsp;Mack-Green, in turn, has been and will continue consolidating the OPLP as Mack-Green's approximate 96 percent, general partner ownership interest in the OPLP remained unchanged as of the closing date.&nbsp;&nbsp;Additionally, as of the closing date, the OPLP continues to consolidate its Property Entities not subject to the Gramercy Agreement, as its 100-percent ownership and rights regarding these entities were unchanged in the transaction.&nbsp;&nbsp;The OPLP does not consolidate the Portfolio Entities subject to the Gramercy Agreement, as the Gramercy Agreement is considered a reconsideration event under the provisions of ASC 810, Consolidation, and accordingly, the Portfolio Entities were deemed to be variable interest entities for which the OPLP was not considered the primary beneficiary based on the Gramercy Agreement as described above.&nbsp;&nbsp;As a result of the SLG Transactions, the Company has an unconsolidated joint venture interest in the Portfolio Properties.</font></div> <div style="text-indent: 0pt; display: block;">&nbsp;&nbsp;</div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"> <div> <div style="width: 100%;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 8pt;" class="_mt">&nbsp; </font></div></div></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On March 31, 2010, the venture sold one of its unconsolidated Portfolio Properties subject to the Gramercy Agreement, 1280 Wall Street West, a 121,314 square foot office property, located in Lyndhurst, New Jersey, for approximately $13.9 million, which was primarily used to pay down mortgage loans pursuant to the Gramercy Agreement.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On December 17, 2010, the venture repaid the $26.8 million allocated loan amount of one of the unconsolidated Portfolio Properties which was subject to the Gramercy Agreement, One Grande Commons, a 198,376 square foot office property, located in Bridgewater, New Jersey.&nbsp; Concurrent with the repayment, the venture placed $11 million mortgage financing on the property obtained from a bank.&nbsp;&nbsp;As a result of the repayment of the existing mortgage loan, the venture, which is consolidated by the Company, obtained a controlling interest and is consolidating the office property.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company performs management, leasing, and construction services for properties owned by the unconsolidated joint ventures and recognized $161,000 and $233,000 in income for such services in the three months ended March 31, 2011 and 2010, respectively.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">GE/GALE FUNDING LLC (Princeton Forrestal Village)</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On May 9, 2006, the Company acquired a 10 percent indirect interest in the entity ("GE Gale") which owned Princeton Forrestal Village, a mixed-use, office/retail complex aggregating 527,015 square feet and located in Plainsboro, New Jersey ("Princeton Forrestal Village" or "PFV") for $1.8 million.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On December 16, 2010, GE Gale sold PFV for $55 million, realizing a gain on the sale of $207,000 (of which the Company's share of $41,000 is included in equity in earnings for the year ended December 31, 2010).</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company had performed management, leasing, and other services for PFV prior to its sale and recognized $408,000 in income for such services in the three months ended March 31, 2010.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">GALE KIMBALL, L.L.C.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On June 15,2006, the Company acquired an 8.33 percent indirect interest in 100&nbsp;Kimball Drive LLC ("100 Kimball"), which developed and placed in service a 175,000 square foot office property that is leased to a single tenant, located at 100 Kimball Drive, Parsippany, New Jersey (the "Kimball Property").</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On December 10, 2010, 100 Kimball sold its office property for approximately $60 million, realizing a gain on the sale of $19.8 million (of which the Company's share of $1.6 million is included in equity in earnings for the year ended December 31, 2010).&nbsp;&nbsp;As a result of the sale the Company received a distribution of approximately $5.4 million, of which $2.4 million was paid out pursuant to the Participation Rights (see Note 13: Commitments and Contingencies &ndash; Participation Rights).</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company had performed management, leasing, and other services for the property prior to its sale for which it recognized $70,500 in income for such services in the three months ended March 31, 2010.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">12 VREELAND ASSOCIATES, L.L.C.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On September 8,2006, the Company entered into a joint venture to form M-C Vreeland, LLC ("M-C Vreeland"), for the sole purpose of acquiring 50 percent membership interest in 12 Vreeland Associates, L.L.C., an entity owning an office property located at 12 Vreeland Road, Florham Park, New Jersey.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The operating agreement of M-C Vreeland provides, among other things, for the Participation Rights (see Note 13: Commitments and Contingencies &ndash; Participation Rights).</font></div> <div style="text-indent: 0pt; display: block;">&nbsp;</div> <div style="text-indent: 0pt; display: block;">&nbsp;</div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The office property at 12 Vreeland is a 139,750 square foot office building.&nbsp;&nbsp;The property is subject to a fully-amortizing mortgage loan, which matures on July 1, 2012, and bears interest at 6.9 percent per annum.&nbsp;&nbsp;As of March&nbsp;31, 2011, the outstanding balance on the mortgage note was $2.8 million.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Under the operating agreement of 12 Vreeland Associates, L.L.C., M-C Vreeland has a 50 percent interest, with S/K Florham Park Associates, L.L.C. (the managing member) and its affiliate holding the other 50 percent.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">BOSTON-DOWNTOWN CROSSING</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">In October 2006, the Company entered into a joint venture with affiliates of Vornado Realty LP and JP Morgan Chase Bank to acquire and redevelop the Filenes property located in the Downtown Crossing district of Boston, Massachusetts (the "Filenes Property").&nbsp;&nbsp;The development was to include approximately 1.2 million square feet consisting of office, retail, condominium apartments, hotel and parking garage.&nbsp;&nbsp;The project is subject to governmental approvals.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The venture acquired the Filenes Property on January 29, 2007, for approximately $100 million.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The venture was organized in contemplation of developing and converting the Filene's Property into a condominium consisting of a retail unit, an office unit, a parking unit, a hotel unit and a residential unit.&nbsp;&nbsp;The Company, through subsidiaries, separately holds approximately a 15 percent indirect ownership interest in each of the units.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Distributions will generally be in proportion to its members' respective ownership interests and, depending upon the development unit, promotes will be available to specified partners after the achievement of certain internal rates of return ranging from 10 to 15 percent.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The joint venture has suspended its plans for the development of the Filenes Property.&nbsp;&nbsp;The venture recorded an impairment charge of approximately $69.5 million on its development project in 2008.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">GALE JEFFERSON, L.L.C.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">On August 22, 2007, the Company entered into a joint venture with a Gale Affiliate to form M-C Jefferson, L.L.C. ("M-C Jefferson") for the sole purpose of acquiring an 8.33 percent indirect interest in One Jefferson Road LLC ("One Jefferson"), which developed and placed in service a 100,010 square foot office property at One Jefferson Road, Parsippany, New Jersey, ("the Jefferson Property").&nbsp;&nbsp;The property has been fully leased to a single tenant through August&nbsp;2025.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The operating agreement of M-C Jefferson provides, among other things, for the Participation Rights (see Note 13: Commitments and Contingencies &ndash; Participation Rights).&nbsp;&nbsp;The operating agreements of Gale Jefferson, L.L.C. ("Gale Jefferson"), which is owned 33.33 percent by M-C Jefferson and 66.67 percent by the Hampshire Generational Fund, L.L.C. ("Hampshire") provides, among other things, for the distribution of net cash flow, first, in accordance with its member's respective interests until each member is provided, as a result of such distributions, with an annual 12 percent compound return on the Member's Capital Contributions, as defined in the operating agreement and secondly, 50 percent to each of the Company and Hampshire.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">One Jefferson has a loan in the amount of $21 million at March&nbsp;31, 2011 bearing interest at a rate of LIBOR plus 160 basis points and maturing on October 24, 2011.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The Company performs management, leasing and other services for Gale Jefferson and recognized $39,000 and $37,000 in income (net of $0 and $1.0 million in direct costs) for such services for the three months ended March 31, 2011 and 2010, respectively.</font></div> <div style="text-indent: 0pt; display: block;"><br />&nbsp;</div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">SUMMARIES OF UNCONSOLIDATED JOINT VENTURES</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 64.8pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-size: 10pt;" class="_mt">The following is a summary of the financial position of the unconsolidated joint ventures in which the Company had investment interests as of March&nbsp;31, 2011 and December&nbsp;31, 2010. </font><font style="font-style: italic; display: inline;" class="_mt">(dollars in thousands)</font></font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div> <table style="font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="71%" colspan="11"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="center"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">March 31, 2011</font></div></td></tr> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Red Bank</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Princeton</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Boston-</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">VIII &amp; IX</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Harborside</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Corporate</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gramercy</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Forrestal</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">12</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Downtown</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Combined</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Associates</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">South Pier</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Agreement</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Village</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Kimball</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Vreeland</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Crossing</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Jefferson</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">Assets:</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Rental property, net</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;8,794</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 63,641</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 23,407</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 40,119</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 14,464</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;150,425</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Other assets</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">1,050</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">10,372</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6,922</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5,994</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,079</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">674</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,119</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,512</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">74,771</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total assets</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,844</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 74,013</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 30,329</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,113</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,079</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 15,138</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,119</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,512</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 225,196</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">Liabilities and</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">&nbsp;partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">&nbsp;capital (deficit):</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Mortgages, loans</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;payable and other</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;obligations</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 71,905</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 20,339</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 50,978</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;2,815</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;146,037</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Other liabilities</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">4,635</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">192</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">1,088</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6,445</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;capital (deficit)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">9,314</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(2,527)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">9,798</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(5,953)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,079</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;12,323</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,119</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,512</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;72,714</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total liabilities and</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;capital (deficit)</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,844</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">74,013</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 30,329</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,113</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,079</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 15,138</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,119</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,512</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 225,196</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Company's</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;investment</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;in unconsolidated</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;joint ventures, net</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;4,579</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;4,753</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,873</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 13,021</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 1,013</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;33,239</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr></table></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div> <table style="font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="71%" colspan="11"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="center"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">December 31, 2010</font></div></td></tr> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Red Bank</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Princeton</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Boston-</font></div></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">VIII &amp; IX</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Harborside</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Corporate</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gramercy</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Forrestal</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">12</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Downtown</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Combined</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Associates</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">South Pier</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Agreement</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Village</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Kimball</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Vreeland</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Crossing</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Jefferson</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">Assets:</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Rental property, net</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;8,947</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 64,964</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 23,594</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 40,786</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 14,081</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 152,372</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Other assets</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">906</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">11,681</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6,422</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6,261</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,434</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">734</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,062</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,440</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">75,991</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total assets</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,853</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 76,645</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 30,016</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 47,047</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,434</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 14,815</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,062</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,440</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 228,363</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">Liabilities and</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">&nbsp;partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;" class="_mt">&nbsp;capital (deficit):</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Mortgages, loans</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;payable and other</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;obligations</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 72,168</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 20,424</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 50,978</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;3,161</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 146,731</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Other liabilities</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">4,356</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">89</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">1,719</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7,030</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;capital (deficit)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">9,324</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">121</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">9,503</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(5,650)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">1,097</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;11,654</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,062</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,440</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;74,602</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total liabilities and</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;partners'/members'</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;capital (deficit)</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,853</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 76,645</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 30,016</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 47,047</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;1,434</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 14,815</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 46,062</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 2,440</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 228,363</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Company's</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;investment</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;in unconsolidated</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;joint ventures, net</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;4,584</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;1,161</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;4,598</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;9,860</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 13,022</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;995</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;34,220</font></div></td> <td valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr></table></div> <div style="text-indent: 0pt; display: block;">&nbsp;</div><br /> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">SUMMARIES OF UNCONSOLIDATED JOINT VENTURES</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the three months ended March&nbsp;31, 2011 and 2010.&nbsp;&nbsp;<font style="font-style: italic; display: inline; font-size: 10pt;" class="_mt">(dollars in thousands)</font></font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div> <table style="font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="middle" width="17%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="82%" colspan="11"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="center"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Three Months Ended March 31, 2011</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="middle" width="21%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="6%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td valign="middle" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Red Bank</font></div></td> <td valign="middle" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Princeton</font></div></td> <td valign="middle" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Boston-</font></div></td> <td valign="middle" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="5%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="middle" width="21%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="6%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">VIII &amp; IX</font></div></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Harborside</font></div></td> <td valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Corporate</font></div></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gramercy</font></div></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Forrestal</font></div></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">12</font></div></td> <td valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Downtown</font></div></td> <td valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="5%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Combined</font></div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="middle" width="21%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="6%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Associates</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">South Pier</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Agreement</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Village</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Kimball</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Vreeland</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Crossing</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Jefferson</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="5%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total</font></div></td></tr> <tr><td valign="bottom" width="21%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total revenues</font></div></td> <td valign="bottom" width="6%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 194</font></div></td> <td valign="bottom" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;7,635</font></div></td> <td valign="bottom" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;727</font></div></td> <td valign="top" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;1,809</font></div></td> <td valign="top" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;396</font></div></td> <td valign="top" width="9%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="8%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 66</font></div></td> <td valign="middle" width="5%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 10,827</font></div></td></tr> <tr><td valign="bottom" width="21%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Operating and other</font></div></td> <td valign="bottom" width="6%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(51)</font></div></td> <td valign="bottom" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(5,734)</font></div></td> <td valign="bottom" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(127)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(917)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(18)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (374)</font></div></td> <td valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="5%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(7,221)</font></div></td></tr> <tr><td valign="bottom" width="21%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Depreciation and amortization</font></div></td> <td valign="bottom" width="6%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(153)</font></div></td> <td valign="bottom" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,424)</font></div></td> <td valign="bottom" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(225)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(793)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(316)</font></div></td> <td valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="5%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(2,911)</font></div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="21%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Interest expense</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,125)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(80)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(402)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(36)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="5%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,643)</font></div></td></tr> <tr><td valign="bottom" width="21%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="6%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="5%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="21%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Net income</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="6%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;(10)</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;(648)</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;295</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(303)</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;26</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (374)</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 66</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="5%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;(948)</font></div></td></tr> <tr><td valign="bottom" width="21%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Company's equity in earnings</font></div></td> <td valign="bottom" width="6%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="5%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="21%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;(loss) of unconsolidated</font></div></td> <td valign="bottom" width="6%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="5%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="21%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;joint ventures</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;(5)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;(161)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;147</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;13</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="9%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (112)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="8%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 17</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="5%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;(101)</font></div></td></tr></table></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div> <table style="font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="middle" width="14%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="66%" colspan="11"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="center"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Three Months Ended March 31, 2010</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="middle" width="15%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Red Bank</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Princeton</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Boston-</font></div></td> <td valign="middle" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="middle" width="15%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">VIII &amp; IX</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Harborside</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Corporate</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gramercy</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Forrestal</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">12</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Downtown</font></div></td> <td valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Gale</font></div></td> <td valign="middle" width="7%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Combined</font></div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="middle" width="15%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Associates</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">South Pier</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Plaza</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Agreement</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Village</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Kimball</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Vreeland</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Crossing</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Jefferson</font></div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total</font></div></td></tr> <tr><td valign="bottom" width="15%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total revenues</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 261</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;5,107</font></div></td> <td valign="bottom" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 1,757</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 11,718</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;3,311</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 44</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;594</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="7%" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="middle" width="7%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 22,792</font></div></td></tr> <tr><td valign="bottom" width="15%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Operating and other</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(49)</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(4,453)</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(212)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,699)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,859)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(14)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (191)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;(57)</font></div></td> <td valign="bottom" width="7%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(8,534)</font></div></td></tr> <tr><td valign="bottom" width="15%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Depreciation and amortization</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(153)</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,110)</font></div></td> <td valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(220)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,003)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(842)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(316)</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td valign="bottom" width="7%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(3,644)</font></div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Interest expense</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1,080)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(83)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(673)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(430)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(86)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(2,352)</font></div></td></tr> <tr><td valign="bottom" width="15%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 3px double;" valign="bottom" width="15%" colspan="2" align="left"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Net income</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;59</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (1,536)</font></div></td> <td style="border-bottom: black 3px double;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 1,242</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;8,343</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 44</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;178</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ (191)</font></div></td> <td style="border-bottom: black 3px double;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;(57)</font></div></td> <td style="border-bottom: black 3px double;" valign="middle" width="7%" colspan="2" align="right"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0.7pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;8,262</font></div></td></tr> <tr><td valign="bottom" width="15%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Company's equity in earnings</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td valign="bottom" width="15%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;(loss) of unconsolidated</font></div></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="top" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td> <td valign="bottom" width="7%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp; </font></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="2" align="left"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">&nbsp;&nbsp;joint ventures</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;30</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;(768)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;152</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 16</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;89</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;(57)</font></div></td> <td style="border-bottom: black 2px solid;" valign="top" width="7%" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;(12)</font></div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(522)</font></div></td></tr></table></div> </div>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES The debt of the Company's unconsolidated joint ventures generally isfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringEquity investment disclosure, or group of investments for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20% of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 falsefalseInvestments in Unconsolidated Joint Ventures12Investments in Unconsolidated Joint VenturesUnKnownUnKnownUnKnownUnKnownfalsetrue