XML 29 R11.htm IDEA: XBRL DOCUMENT

Intangible Assets, Goodwill and Other

12 Months Ended

Dec. 31, 2011

Intangible Assets, Goodwill and Other

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6 — Acquired Lease Intangibles

We identify and record the value of acquired lease intangibles at the property acquisition date. Such intangibles include the value of acquired in-place leases and above and below-market leases. Acquired lease intangibles are amortized over the leases' remaining terms, which for the Richardson Heights property, range from 6 months to 10 years from December 31, 2011. With respect to the Richardson Heights property, we consider all of the in-place leases to be market rate leases.

The amount of total in-place lease intangible asset and the respective accumulated amortization as of December 31, 2011 and 2010 are as follows:

	December 31,
	2011	2010
Acquired lease intangible assets:
In-place leases	$ 3,473,763	$ -
In-place leases – accumulated amortization	(264,732)	-
Acquired lease intangible assets, net	$ 3,209,031	$ -

The estimated aggregate amortization amounts from acquired lease intangibles for each of the next five years are as follows:

Years ending December 31,	In-place lease amortization
2012		$ 1,020,908
2013		666,735
2014		496,137
2015		293,172
2016		209,871
Thereafter		522,208
Total		$ 3,209,031

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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