Related Parties

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Related Parties

Related Parties

Through our management activities and transactions with our real estate joint ventures and partnerships, we had net accounts receivable of $1.7 million and $2.2 million outstanding as of September 30, 2012 and December 31, 2011, respectively. We also had accounts payable and accrued expenses of $6.3 million and $8.2 million outstanding as of September 30, 2012 and December 31, 2011, respectively. For both the three months ended September 30, 2012 and 2011, we recorded joint venture fee income of $1.5 million. For the nine months ended September 30, 2012 and 2011, we recorded joint venture fee income of $4.8 million and $4.6 million, respectively.

In February 2012, we sold our 47.8% unconsolidated joint venture interest in a Colorado development project to our partner with gross sales proceeds totaling $29.1 million, which includes the assumption of our share of debt, generating a gain of $3.5 million.