| Summary Of The Results Of Financial Position |
| |
|
|
|
|
|
|
|
|
|
|
|
June 30, 2011
|
| |
Plaza
|
|
Red Bank
|
|
Princeton
|
|
|
Boston-
|
|
|
|
| |
VIII & IX
|
Harborside
|
Corporate
|
Gramercy
|
Forrestal
|
Gale
|
12
|
Downtown
|
Gale
|
Combined
|
|
| |
Associates
|
South Pier
|
Plaza
|
Agreement
|
Village
|
Kimball
|
Vreeland
|
Crossing
|
Jefferson
|
Total
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental property, net
|
$ 8,641
|
$ 62,179
|
$ 23,214
|
$ 39,732
|
--
|
--
|
$ 14,307
|
--
|
--
|
$ 148,073
|
|
|
Other assets
|
1,253
|
13,428
|
2,621
|
5,983
|
$ 196
|
$ 46
|
497
|
$ 46,111
|
$ 2,588
|
72,723
|
|
|
Total assets
|
$ 9,894
|
$ 75,607
|
$ 25,835
|
$ 45,715
|
$ 196
|
$ 46
|
$ 14,804
|
$ 46,111
|
$ 2,588
|
$ 220,796
|
|
|
Liabilities and
|
|
|
|
|
|
|
|
|
|
|
|
|
partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit):
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgages, loans
|
|
|
|
|
|
|
|
|
|
|
|
|
payable and other
|
|
|
|
|
|
|
|
|
|
|
|
|
obligations
|
--
|
$ 71,639
|
$ 18,520
|
$ 50,978
|
--
|
--
|
$ 2,288
|
--
|
--
|
$ 143,425
|
|
|
Other liabilities
|
$ 529
|
5,044
|
50
|
1,105
|
$ 76
|
--
|
--
|
--
|
--
|
6,804
|
|
|
Partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit)
|
9,365
|
(1,076)
|
7,265
|
(6,368)
|
120
|
$ 46
|
12,516
|
$ 46,111
|
$ 2,588
|
70,567
|
|
|
Total liabilities and
|
|
|
|
|
|
|
|
|
|
|
|
|
partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit)
|
$ 9,894
|
$ 75,607
|
$ 25,835
|
$ 45,715
|
$ 196
|
$ 46
|
$ 14,804
|
$ 46,111
|
$ 2,588
|
$ 220,796
|
|
|
Company's
|
|
|
|
|
|
|
|
|
|
|
|
|
investment
|
|
|
|
|
|
|
|
|
|
|
|
|
in unconsolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
joint ventures, net
|
$ 4,605
|
$ 568
|
$ 3,495
|
--
|
--
|
--
|
$ 9,969
|
$ 12,998
|
$ 1,038
|
$ 32,673
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
December 31, 2010
|
| |
Plaza
|
|
Red Bank
|
|
Princeton
|
|
|
Boston-
|
|
|
|
| |
VIII & IX
|
Harborside
|
Corporate
|
Gramercy
|
Forrestal
|
Gale
|
12
|
Downtown
|
Gale
|
Combined
|
|
| |
Associates
|
South Pier
|
Plaza
|
Agreement
|
Village
|
Kimball
|
Vreeland
|
Crossing
|
Jefferson
|
Total
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental property, net
|
$ 8,947
|
$ 64,964
|
$ 23,594
|
$ 40,786
|
--
|
--
|
$ 14,081
|
--
|
--
|
$ 152,372
|
|
|
Other assets
|
906
|
11,681
|
6,422
|
6,261
|
$ 1,435
|
$ 51
|
734
|
$ 46,062
|
$ 2,440
|
75,992
|
|
|
Total assets
|
$ 9,853
|
$ 76,645
|
$ 30,016
|
$ 47,047
|
$ 1,435
|
$ 51
|
$ 14,815
|
$ 46,062
|
$ 2,440
|
$ 228,364
|
|
|
Liabilities and
|
|
|
|
|
|
|
|
|
|
|
|
|
partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit):
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgages, loans
|
|
|
|
|
|
|
|
|
|
|
|
|
payable and other
|
|
|
|
|
|
|
|
|
|
|
|
|
obligations
|
--
|
$ 72,168
|
$ 20,424
|
$ 50,978
|
--
|
--
|
$ 3,161
|
--
|
--
|
$ 146,731
|
|
|
Other liabilities
|
$ 529
|
4,356
|
89
|
1,719
|
$ 612
|
--
|
--
|
--
|
--
|
7,305
|
|
|
Partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit)
|
9,324
|
121
|
9,503
|
(5,650)
|
823
|
$ 51
|
11,654
|
$ 46,062
|
$ 2,440
|
74,328
|
|
|
Total liabilities and
|
|
|
|
|
|
|
|
|
|
|
|
|
partners'/members'
|
|
|
|
|
|
|
|
|
|
|
|
|
capital (deficit)
|
$ 9,853
|
$ 76,645
|
$ 30,016
|
$ 47,047
|
$ 1,435
|
$ 51
|
$ 14,815
|
$ 46,062
|
$ 2,440
|
$ 228,364
|
|
|
Company's
|
|
|
|
|
|
|
|
|
|
|
|
|
investment
|
|
|
|
|
|
|
|
|
|
|
|
|
in unconsolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
joint ventures, net
|
$ 4,584
|
$ 1,161
|
$ 4,598
|
--
|
--
|
--
|
$ 9,860
|
$ 13,022
|
$ 995
|
$ 34,220
|
|
| Summary Of The Results Of Operations |
SUMMARIES OF UNCONSOLIDATED JOINT VENTURES
The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the three months ended June 30, 2011 and 2010. (dollars in thousands)
| |
Three Months Ended June 30, 2011
|
|
| |
Plaza
|
|
Red Bank
|
|
Princeton
|
|
|
Boston-
|
|
|
| |
VIII & IX
|
Harborside
|
Corporate
|
Gramercy
|
Forrestal
|
Gale
|
12
|
Downtown
|
Gale
|
Combined
|
| |
Associates
|
South Pier
|
Plaza
|
Agreement
|
Village
|
Kimball
|
Vreeland
|
Crossing
|
Jefferson
|
Total
|
|
Total revenues
|
$ 255
|
$ 10,815
|
$ 865
|
$ 1,525
|
--
|
--
|
$ 594
|
--
|
$ 76
|
$ 14,130
|
|
Operating and other
|
(51)
|
(6,830)
|
(243)
|
(975)
|
--
|
--
|
(34)
|
$ (377)
|
--
|
(8,510)
|
|
Depreciation and amortization
|
(153)
|
(1,415)
|
(226)
|
(539)
|
--
|
--
|
(315)
|
--
|
--
|
(2,648)
|
|
Interest expense
|
--
|
(1,120)
|
(129)
|
(381)
|
--
|
--
|
(52)
|
--
|
--
|
(1,682)
|
| |
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$ 51
|
$ 1,450
|
$ 267
|
$ (370)
|
--
|
--
|
$ 193
|
$ (377)
|
$ 76
|
$ 1,290
|
|
Company's equity in earnings
|
|
|
|
|
|
|
|
|
|
|
|
(loss) of unconsolidated
|
|
|
|
|
|
|
|
|
|
|
|
joint ventures
|
$ 25
|
$ 568
|
$ 134
|
--
|
--
|
--
|
$ 96
|
$ (113)
|
$ 26
|
$ 736
|
| |
Three Months Ended June 30, 2010
|
|
| |
Plaza
|
|
Red Bank
|
|
Princeton
|
|
|
Boston-
|
|
|
| |
VIII & IX
|
Harborside
|
Corporate
|
Gramercy
|
Forrestal
|
Gale
|
12
|
Downtown
|
Gale
|
Combined
|
| |
Associates
|
South Pier
|
Plaza
|
Agreement
|
Village
|
Kimball
|
Vreeland
|
Crossing
|
Jefferson
|
Total
|
|
Total revenues
|
$ 191
|
$ 9,277
|
$ 823
|
$ 2,790
|
$ 3,117
|
$ 78
|
$ 396
|
--
|
--
|
$ 16,672
|
|
Operating and other
|
(47)
|
(6,423)
|
(219)
|
(1,290)
|
(1,702)
|
--
|
(76)
|
$ (318)
|
$ (95)
|
(10,170)
|
|
Depreciation and amortization
|
(153)
|
(1,325)
|
(231)
|
(949)
|
(877)
|
--
|
(315)
|
--
|
--
|
(3,850)
|
|
Interest expense
|
--
|
(1,106)
|
(86)
|
(608)
|
(422)
|
--
|
(53)
|
--
|
--
|
(2,275)
|
| |
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$ (9)
|
$ 423
|
$ 287
|
$ (57)
|
$ 116
|
$ 78
|
$ (48)
|
$ (318)
|
$ (95)
|
$ 377
|
|
Company's equity in earnings
|
|
|
|
|
|
|
|
|
|
|
|
(loss) of unconsolidated
|
|
|
|
|
|
|
|
|
|
|
|
joint ventures
|
$ (5)
|
$ 140
|
$ 231
|
--
|
$ 19
|
$ 26
|
$ (24)
|
$ (96)
|
$ (31)
|
$ 260
|
|