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Investment in Joint Venture (Tables)
 9 Months Ended
Sep. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Summarized results of operations of investment in the Manhattan Collection joint venture
The summarized results of operations of the Company’s investment in the Manhattan Collection joint venture for the three and nine months ended September 30, 2012 and 2011 are presented below (in thousands):
 
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2012
 
2011
 
2012
 
2011
Revenues
$
43,843

 
$
31,206

 
$
122,273

 
$
31,206

Total expenses
38,262

 
26,497

 
115,862

 
26,497

Net income (loss)
$
5,581

 
$
4,709

 
$
6,411

 
$
4,709

Company’s 49% interest of net income (loss)
2,734

 
2,307

 
3,141

 
2,307

Basis adjustment
(582
)
 
(138
)
 
(1,505
)
 
(138
)
Equity in earnings (loss) in joint venture
$
2,152

 
$
2,169

 
$
1,636

 
$
2,169