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Tenant-in-common Property Debt Refinancing
6 Months Ended
Jun. 30, 2013
Tenant In Common Property Refinancing [Abstract]  
Tenant-in-common Property Debt Refinancing
Note 12:Tenant-in-common Property Debt Refinancing
 
NPAMLP owns an undivided interest in the San Jose, California property through its 23.9% ownership of 2525 North First Street Holdings, a Delaware Statutory Trust, and does not control the decisions over the property or the other tenant-in-common (“TIC”) interests. As a result, the combined condensed financial statements reflect only NPAMLP’s percentage of the TIC’s real property, related mortgage, revenues and expenses.  In March 2013, the independent manager of the TIC property successfully refinanced the third party underlying mortgage on the property. NPAMLP treated the debt refinancing as a debt modification for accounting purposes. As a result of the refinancing, NPAMLP received $810 in proceeds, of which $714 was recorded as restricted cash, and assumed an additional $1,542 in wraparound mortgages payable. Also, $257 in  leasing commissions and $475 in  loan fees were deferred  on the combined condensed balance sheet as a result of this transaction. In addition, NPAEP paid $354 of the  loan fees related to the tenant-in-common debt refinancing. This resulted in a reduction of $354 in deferred loan fees and due to NPAEP in NPAMLP’s combined condensed balance sheet.