Investments in Unconsolidated Affiliated Entities (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Equity Method Investments [Line Items]

Summary of Investments in Unconsolidated Entities

Entity	Date of Ownership	Ownership Interest as of March 31, 2013			As of March 31, 2013		As of December 31, 2012
Brownmill LLC ("Brownmill")	Various		48.6	%	$	4,043	$	4,076
LVP Rego Park, LLC ("Rego Park Joint Venture")	April 12, 2011		10.0	%		1,936		1,874
Total investments in unconsolidated affiliated entities					$	5,979	$	5,950

Brownmill, LLC [Member]

Schedule of Equity Method Investments [Line Items]

Unaudited Condensed Income Statements of Affiliated Entities

	For the Three Months Ended March 31,
	2013			2012
Revenue	$	961		$	942
Property operating expenses		389			317
Depreciation and amortization		211			217
Operating income		361			408
Interest expense and other, net		(287	)		(296	)
Net income	$	74		$	112
Company's share of net income	$	36		$	45
Additional depreciation and amortization expense (1)		(69	)		(74	)
Company's loss from investment	$	(33	)	$	(29	)

Note:

(1) Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the Company's investment in Brownmill and the amount of the underlying equity in net assets of Brownmill.

Unaudited Condensed Balance Sheets of Affiliated Entities

	As of			As of
	March 31, 2013			December 31, 2012
Investment property, at cost (net)	$	16,574		$	16,760
Cash and restricted cash		975			947
Other assets		1,634			1,602
Total assets	$	19,183		$	19,309
Mortgage payable	$	21,042		$	21,159
Other liabilities		457			540
Members' deficiency		(2,316	)		(2,390	)
Total liabilities and members' deficiency	$	19,183		$	19,309

LVP Rego Park, LLC [Member]

Schedule of Equity Method Investments [Line Items]

Unaudited Condensed Income Statements of Affiliated Entities

	Three Months Ended March 31, 2013			Three Months Ended March 31, 2012
Operating expenses	$	1		$	3
Operating loss		(1	)		(3	)
Interest income		868			763
Net income	$	867		$	760
Company's share of net income	$	87		$	76

Unaudited Condensed Balance Sheets of Affiliated Entities

	As of		As of
	March 31, 2013		Decemer 31, 2012
Cash and restricted cash	$	90	$	91
Mortgage note receivable, net		19,068		18,443
Other assets		43		45
Total assets	$	19,201	$	18,579
Members' capital	$	19,201	$	18,579
Total liabilities and members' capital	$	19,201	$	18,579