XML 71 R44.htm IDEA: XBRL DOCUMENT v2.3.0.15
Investments In Unconsolidated Joint Ventures (Mack-Green-Gale LLC/Gramercy Agreement) (Details) (USD $)
3 Months Ended0 Months Ended3 Months Ended9 Months Ended12 Months Ended0 Months Ended
Mar. 31, 2009
OPLP [Member]
Dec. 31, 2007
OPLP [Member]
Sep. 30, 2010
OPLP [Member]
May 09, 2006
OPLP [Member]
sqft
May 09, 2006
OPLP [Member]
Mack-Green [Member]
Apr. 29, 2009
Gramercy Agreement [Member]
May 09, 2006
Gramercy Agreement [Member]
Sep. 30, 2011
Gramercy Agreement [Member]
Sep. 30, 2010
Gramercy Agreement [Member]
Mar. 31, 2010
Gramercy Agreement [Member]
sqft
Mar. 31, 2009
Gramercy Agreement [Member]
Sep. 30, 2011
Gramercy Agreement [Member]
Sep. 30, 2010
Gramercy Agreement [Member]
Dec. 17, 2010
Gramercy Agreement [Member]
sqft
Dec. 31, 2008
Gramercy Agreement [Member]
May 09, 2006
Mack-Green [Member]
Apr. 29, 2009
Mack-Green [Member]
Percentage of interest in venture  96.00%100.00%96.00%           100.00%
Mortgage loans, carrying amount$ 276,300,000         $ 90,300,000      
Mortgage finance on property obtained             11,000,000   
Number of properties          6      
Mortgage loan maturity dateMay 2016         May 2009      
Area of office property   3,500,000             
Area of office property         121,314   198,376   
Spread over LIBOR     275    275      
Interest rate cap     3.15%           
Venture sale of real estate 83,500,000       13,900,000       
Management, leasing and other services fees       108,000223,000  382,000690,000    
Acquisition cost               125,000,000 
Mortgage loans on real estate bearing weighted average fixed interest rate185,000,000                
Weighted average fixed interest rate6.26%                
Repayments of debt             26,800,000   
Number of owned office properties   25             
Number of properties sold 8       1       
Venture gain (loss) on sale of real estate (22,300,000)               
Impairment charge on property              $ 32,300,000  
Sharing percent of amount realized     50.00%           
Holding and distribution pattern under operating agreement      

The Mack-Green operating agreement generally provided for profits and losses to be allocated as follows:

(i)

99 percent of Mack-Green's share of the profits and losses from 10 specific OPLP Properties allocable to the Company and one percent allocable to SL Green;

(ii)

one percent of Mack-Green's share of the profits and losses from eight specific OPLP Properties and its minor interest in four office properties allocable to the Company and 99 percent allocable to SL Green; and

(iii)

50 percent of all other profits and losses allocable to the Company and 50 percent allocable to SL Green.