Annual report pursuant to Section 13 and 15(d)

Investment In Joint Ventures (Tables)

v2.4.0.6
Investment In Joint Ventures (Tables)
12 Months Ended
Dec. 31, 2011
Investment In Joint Ventures [Abstract]  
Summary Of The Unconsolidated Joint Ventures' Financial Statements

(dollars in thousands)

   Sovran
HHF

Storage
Holdings
LLC
    Sovran
HHF

Storage
Holdings II
LLC
    Iskalo
Office

Holdings,
LLC
 

Balance Sheet Data:

      

Investment in storage facilities, net

   $ 162,668     $ 164,605     $ —     

Investment in office building

     —          —          5,321  

Other assets

     3,936       3,436       580  
  

 

 

   

 

 

   

 

 

 

Total Assets

   $ 166,604     $ 168,041      $ 5,901   
  

 

 

   

 

 

   

 

 

 

Due to the Company

   $ 276     $ 313     $ —     

Mortgages payable

     71,239       88,300       6,752  

Other liabilities

     2,518       1,513       731  
  

 

 

   

 

 

   

 

 

 

Total Liabilities

     74,033       90,126       7,483  

Unaffiliated partners' equity (deficiency)

     74,057       66,228       (1,080 )

Company equity (deficiency)

     18,514       11,687       (502 )
  

 

 

   

 

 

   

 

 

 

Total Liabilities and Partners' Equity (deficiency)

   $ 166,604      $ 168,041      $ 5,901   
  

 

 

   

 

 

   

 

 

 

Income Statement Data:

      

Total revenues

   $ 18,393     $ 8,732     $ 923  

Depreciation and amortization of customer list

     (3,667 )     (2,234 )     (221 )

Other expenses

     (12,995 )     (11,591 )     (869 )
  

 

 

   

 

 

   

 

 

 

Net income (loss)

   $ 1,731      $ (5,093   $ (167
  

 

 

   

 

 

   

 

 

 
Cash Flows Arising From Off Balance Sheet Arrangements
     Year ended December 31,  
(dollars in thousands)    2011     2010     2009  

Statement of Operations

      

Other operating income (management fees and acquisition fee income)

   $ 2,578      $ 1,260      $ 1,243   

General and administrative expenses (corporate office rent)

     688        644        608   

Equity in (losses) income of joint ventures

     (340     241        235   

Distributions from unconsolidated joint ventures

     944        494        686   

Investing activities

      

Investment in joint ventures

     (13,571     —          (331

(Advances to) reimbursement of advances to joint ventures

     (413     (80     163