Investments In Unconsolidated Joint Ventures And Entities

9 Months Ended

Sep. 30, 2012

Investments In Unconsolidated Joint Ventures And Entities [Abstract]

Investments In Unconsolidated Joint Ventures and Entities

Note 7 – Investments in Unconsolidated Joint Ventures and Entities

Our investments in unconsolidated joint ventures and entities are accounted for under the equity method of accounting except for Rialto Distribution, which is accounted for as a cost method investment, and, as of September 30, 2012 and December 31, 2011, included the following (dollars in thousands):



	Interest		September 30, 2012		December 31, 2011
Rialto Distribution	33.3%	$	--	$	--
Rialto Cinemas	50.0%		1,564		1,586
205-209 East 57^th Street Associates, LLC	25.0%		33		33
Mt. Gravatt	33.3%		6,035		6,220
Total investments		$	7,632	$	7,839

For the three and nine months ended September 30, 2012 and 2011, we recorded our share of equity earnings from our investments in unconsolidated joint ventures and entities as follows (dollars in thousands):



		Three Months Ended September 30,				Nine Months Ended September 30,
		2012		2011		2012		2011
Rialto Distribution	$	24	$	234	$	137	$	346
Rialto Cinemas		27		(35)		84		(87)
205-209 East 57^th Street Associates, LLC		--		--		--		33
Mt. Gravatt		226		255		869		795
Total equity earnings	$	277	$	454	$	1,090	$	1,087

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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