Prepaid And Other Assets

9 Months Ended

Sep. 30, 2011

Prepaid And Other Assets [Abstract]

Prepaid And Other Assets

Note 9 – Prepaid and Other Assets

Prepaid and other assets are summarized as follows (dollars in thousands):

	September 30, 2011	December 31, 2010
Prepaid and other current assets
Prepaid expenses	$   1,469	$   1,145
Prepaid taxes	840	1,044
Deposits	405	151
Other	1,154	1,196
Total prepaid and other current assets	$   3,868	$   3,536
Other non-current assets
Other non-cinema and non-rental real estate assets	$   1,134	$   1,134
Long-term deposits	251	294
Deferred financing costs, net	3,622	3,830
Interest rate swap at fair value – non-qualifying hedge	--	446
Other receivable	--	6,750
Tenant inducement asset	1,081	1,327
Straight-line rent asset	2,632	2,627
Mortgage notes receivable	837	--
Other	--	128
Total non-current assets	$   9,557	$ 16,536

Investment in Notes Receivable

Other Receivable

            On June 14, 2011, we received $6.8 million with respect to the principal and interest owed on a note previously received in connection with a settlement agreement.  We believe that further amounts are owed under that note, and we have begun litigation to collect such amounts.

Mortgage Notes Receivable

On February 14, 2011, we purchased for $2.8 million mortgage notes secured by certain properties. These mortgage notes were in default on the date of acquisition and were acquired with the intention of acquiring the underlying properties. In February 2011 and in September 2011, we foreclosed on two of these properties valued at $859,000 and $1.1 million, respectively, which are now classified as a part of properties held for development. We are currently pursuing our remedies for the remaining mortgage note, which at September 30, 2011 remained in default. We anticipate that we will ultimately acquire the remaining property.