Related Party Transactions

3 Months Ended

Mar. 31, 2012

10. RELATED PARTY TRANSACTIONS

See Note 4 regarding investments in our Advised Funds and Note 2 regarding notes receivable from affiliates.

The table below details our income and administrative cost reimbursements from the Advised Funds for the three months ended March 31, 2012 and 2011 (in thousands):


	2012		2011
Real estate fee income⁽¹⁾	$	918	$	559
Asset management fee income⁽²⁾		155		370
Construction management fee income⁽³⁾		58		72
Advisory services income - related party	$	1,131	$	1,001
Reimbursements of administrative costs	$	211	$	196



(1)	We earn real estate fee income by providing property acquisition, leasing and property management services to our Advised Funds. We own 100% of the stock of the companies that serve as the general partner for the funds.
(2)	We earn asset management fees from our Advised Funds for providing accounting related and investor relation services, facilitating the deployment of capital and other services provided in conjunction with operating the funds.
(3)	We earn construction management fees by managing construction and tenant build-out projects on behalf of our Advised Funds.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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+ Details