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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of depreciation or amortization expense computed using the straight-line method based upon the estimated useful lives

 

 

 

Years

 

Buildings and improvements

 

10 - 45

 

Equipment and fixtures

 

3 - 20

 

Tenant improvements

 

Shorter of useful life or applicable lease term

Schedule of gross asset balances of the in-place value of tenant leases

 

 

 

Gross Asset

 

Accumulated
Amortization

 

Net Carrying
Amount

 

 

 

 

 

 

 

 

 

As of March 31, 2013

 

 

 

 

 

 

 

Tenant leases:

 

 

 

 

 

 

 

In-place value

 

$

881,480

 

$

(381,857

)

$

499,623

 

 

 

 

 

 

 

 

 

As of December 31, 2012

 

 

 

 

 

 

 

Tenant leases:

 

 

 

 

 

 

 

In-place value

 

$

972,495

 

$

(423,492

)

$

549,003

Schedule of amortization/accretion of these intangible assets and liabilities on net (loss) from continuing operations

 

 

 

Three Months Ended March 31,

 

 

 

2013

 

2012

 

Amortization/accretion effect on continuing operations

 

$

(69,566

)

$

(96,473

)

Schedule of future amortization/accretion of intangibles is estimated to decrease results from continuing operations

Year

 

Amount

 

2013 Remaining

 

$

173,993

 

2014

 

192,896

 

2015

 

156,501

 

2016

 

124,057

 

2017

 

94,404

 

Schedule of management fees earned

 

 

Three Months Ended March 31,

 

 

 

2013

 

2012

 

Management fees from affiliates

 

$

15,858

 

$

15,678

 

Management fee expense

 

(5,971

)

(6,123

)

Net management fees from affiliates

 

$

9,887

 

$

9,555