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Note 3 - Real Estate Under Development
9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Real Estate Under Development [Text Block]
3.
Real Estate Under
Development
 
During the nine months ended September 30, 2016, the Company acquired from its partner the remaining ownership interest in a property that was held in a joint venture in which the Company has a 55.0% noncontrolling interest for a gross purchase price of $84.2 million. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as a result, no gain on change in control of interest was recognized as there was no fair value adjustment associated with the Company’s previously held equity interest. Based upon the Company’s intent to develop the property, the Company allocated the gross purchase price to Real estate under development on the Company’s Condensed Consolidated Balance Sheets.
 
During the nine months ended September 30, 2016, the Company acquired, in separate transactions, three additional land parcels adjacent to two existing development projects for an aggregate purchase price of $13.8 million.
 
Additionally, during the nine months ended September 30, 2016, one development project located in Lower Merion, PA, aggregating $27.0 million, was completed and reclassified into Operating real estate on the Company’s Condensed Consolidated Balance Sheets.