Real Estate Activity (Policies)

6 Months Ended

Jun. 30, 2012

Real Estate Activity

Real Estate Held for Development and Sale, Policy [Policy Text Block]

Additionally, the Company classifies real estate assets as held for sale only after the Company has received approval by its internal investment committee, has commenced an active program to sell the assets, does not intend to retain a continuing interest in the property and in the opinion of the Company’s management, it is probable the assets will sell within the next 12 months.

Real Estate, Policy [Policy Text Block]

For cash flow statement purposes, the Company classifies capital expenditures for newly developed for-sale residential communities in investing activities. Likewise, the proceeds from the sales of condominium units and other residential sales are also included in investing activities.