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Subsequent Events
9 Months Ended
Sep. 30, 2012
Subsequent Events  
Subsequent Events

16.          Subsequent Events

 

On October 2, 2012, we entered into a construction loan agreement for borrowings of up to $66.0 million for the development of Two BriarLake Plaza in Houston, Texas.  Construction on Two BriarLake Plaza is expected to be completed in 2014 and will consist of a 12-story office building with approximately 318,000 square feet.

 

On October 16, 2012, we sold our interest in Alamo Plaza to an unaffiliated third party.  Our ownership interest in the total contract sales price was approximately $21.8 million and generated approximately $8.8 million in net cash proceeds to us.