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Note 6 - Real Estate and Related Assets: Schedule of real estate assets and related intangible assets and liabilities (Tables)

3 Months Ended

Jun. 30, 2012

Schedule of real estate assets and related intangible assets and liabilities:

Schedule of real estate assets and related intangible assets and liabilities

	Cost	Useful Life	Accumulated Depreciation / Amortization	Net Book Value

Land	$ 1,280,000			$ 1,280,000
Buildings	1,130,292	20	$ 72,258	1,058,034
Improvements	529,387	7	96,685	432,702

Subtotal real estate assets	2,939,679		168,943	2,770,736

Real estate related intangible assets:
Leases in place value	1,624,052	7	296,610	1,327,442
Unamortized tenant improvement allowances	530,444	12	56,518	473,926

Real estate intangible assets	2,154,496		353,128	1,801,368

Total real estate assets	$ 5,094,175		$ 522,071	$ 4,572,104

Below market lease value acquired	$ (769,175)	12	$ (81,954)	$ (687,221)

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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