Deferred Revenue

6 Months Ended

Jun. 30, 2013

Deferred Revenue Disclosure [Abstract]

Deferred Revenue

Note 8: Deferred Revenue

Under the terms of the respective leases at the Grand Rapids, Michigan and Rockville, Maryland properties, the Anchor Tenant had the option of either refinancing the existing underlying indebtedness or paying it off. In January 2012, the Anchor Tenant elected to satisfy the underlying indebtedness in full on both properties in the approximate amount of $4,121. As a result, NPAMLP reduced the wraparound mortgages payable balance on these properties in the same amount. In accordance with the FASB authoritative guidance, NPAMLP recorded deferred lease revenue that will be amortized on a straight line basis to income over the balance of the respective lease terms. The deferred revenue recognized as revenue with respect to these leases for each of the three and six month periods ended June 30, 2013 and 2012 was $85 and $170, respectively. At June 30, 2013, included in deferred revenue on the combined condensed balance sheet is $3,610 related to these leases. The remaining balance of the deferred revenue represents prepayments of tenant rental income.