Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues
Real estate revenues	$ 13,986	$ 9,389	$ 53,964	$ 35,326
Interest income	95	147	395	401
Other	622	37	922	771
Total revenues	14,703	9,573	55,281	36,498
Expenses
Real estate expenses	19,152	13,530	60,772	45,224
Impairment charges	112,389	36	126,486	204
General and administrative expenses	5,093	4,796	12,865	12,641
Change in fair value on contingent consideration	(3,366)	0	(4,388)	0
Loss on extinguishment of debt	0	0	211	0
Interest expense	2,437	1,126	7,230	4,288
Total expenses	135,705	19,488	203,176	62,357
Earnings (loss) from unconsolidated entities, net	(341)	(124)	(326)	(331)
Loss before income taxes	(121,343)	(10,039)	(148,221)	(26,190)
Income tax benefit	(350)	375	(350)	375
Net loss	(121,693)	(9,664)	(148,571)	(25,815)
Less: Net loss attributable to non-controlling interests	(132)	(145)	(387)	(417)
Net loss attributable to Avatar	$ (121,561)	$ (9,519)	$ (148,184)	$ (25,398)
Basic and diluted Loss Per Share (in dollars per share)	$ (9.76)	$ (0.84)	$ (11.91)	$ (2.26)