Quarterly report pursuant to Section 13 or 15(d)

Real Estate Joint Ventures (Details)

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Real Estate Joint Ventures (Details) (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Property
Venture
Jun. 30, 2011
Jun. 30, 2012
Venture
Jun. 30, 2011
Dec. 31, 2011
Investments in real estate joint ventures          
Investment Balance $ (6,282,000)   $ (6,282,000)   $ (6,071,000)
Unconsolidated real estate joint ventures
          
Investments in real estate joint ventures          
Number of unconsolidated real estate joint ventures in which the entity has an interest 1   1    
Investment Balance (6,282,000) [1]   (6,282,000) [1]   (6,071,000) [1]
Ownership (as a percent) 20.00%        
Number of buildings operated by the joint venture 16        
Maximum exposure to loss 0 [2]   0 [2]    
Difference between carrying amount of investment and share or the equity in the joint venture 5,200,000   5,200,000   5,200,000
Condensed balance sheets for unconsolidated real estate joint venture          
Properties, net 58,891,000   58,891,000   59,792,000
Other assets 4,242,000   4,242,000   3,529,000
Total assets 63,133,000   63,133,000   63,321,000
Liabilities (primarily debt) 68,581,000   68,581,000   67,710,000
Owners' equity (5,448,000)   (5,448,000)   (4,389,000)
Total liabilities and owners' equity 63,133,000   63,133,000   63,321,000
Condensed statements of operations for unconsolidated real estate joint venture          
Revenues 1,825,000 1,890,000 3,719,000 3,814,000  
Property operating expenses (724,000) (979,000) (1,461,000) (1,965,000)  
Interest expense (1,028,000) (988,000) (2,153,000) (1,999,000)  
Depreciation and amortization expense (594,000) (567,000) (1,164,000) (1,175,000)  
Net loss (521,000) (644,000) (1,059,000) (1,325,000)  
LW Redstone Company, LLC
          
Investments in real estate joint ventures          
Ownership (as a percent) 85.00% [3]        
Investments in consolidated real estate joint ventures          
Total Assets 61,464,000 [3],[4]   61,464,000 [3],[4]    
Pledged Assets 16,141,000 [3],[4]   16,141,000 [3],[4]    
Total Liabilities 11,758,000 [3],[4]   11,758,000 [3],[4]    
M Square Associates, LLC
          
Investments in real estate joint ventures          
Ownership (as a percent) 50.00% [5]        
Number of buildings operated by the joint venture     2    
Investments in consolidated real estate joint ventures          
Total Assets 60,126,000 [4],[5]   60,126,000 [4],[5]    
Pledged Assets 48,029,000 [4],[5]   48,029,000 [4],[5]    
Total Liabilities 43,584,000 [4],[5]   43,584,000 [4],[5]    
Arundel Preserve 5, LLC
          
Investments in real estate joint ventures          
Ownership (as a percent) 50.00% [6]        
Number of buildings operated by the joint venture     1    
Investments in consolidated real estate joint ventures          
Total Assets 34,694,000 [4],[6]   34,694,000 [4],[6]    
Pledged Assets 33,582,000 [4],[6]   33,582,000 [4],[6]    
Total Liabilities 17,716,000 [4],[6]   17,716,000 [4],[6]    
COPT-FD Indian Head, LLC
          
Investments in real estate joint ventures          
Ownership (as a percent) 75.00% [7]        
Investments in consolidated real estate joint ventures          
Total Assets 6,537,000 [4],[7]   6,537,000 [4],[7]    
MOR Forbes 2 LLC
          
Investments in real estate joint ventures          
Ownership (as a percent) 50.00% [8]        
Number of buildings operated by the joint venture     1    
Investments in consolidated real estate joint ventures          
Total Assets 3,787,000 [4],[8]   3,787,000 [4],[8]    
Total Liabilities 50,000 [4],[8]   50,000 [4],[8]    
Consolidated real estate joint ventures
          
Investments in consolidated real estate joint ventures          
Total Assets 166,608,000 [4]   166,608,000 [4]    
Pledged Assets 97,752,000 [4]   97,752,000 [4]    
Total Liabilities $ 73,108,000 [4]   $ 73,108,000 [4]    
[1] The carrying amount of our investment in this joint venture was lower than our share of the equity in the joint venture by $5.2 million at June 30, 2012 and December 31, 2011 due to our deferral of gain on the contribution by us of real estate into the joint venture upon its formation. A difference will continue to exist to the extent the nature of our continuing involvement in the joint venture remains the same.
[2] Derived from the sum of our investment balance and maximum additional unilateral capital contributions or loans required from us. Not reported above are additional amounts that we and our partner are required to fund when needed by this joint venture; these funding requirements are proportional to our respective ownership percentages. Also not reported above are additional unilateral contributions or loans from us, the amounts of which are uncertain, that we would be required to make if certain contingent events occur (see Note 15).
[3] This joint venture’s property is in Huntsville, Alabama.
[4] Excludes amounts eliminated in consolidation.
[5] This joint venture’s properties are in College Park, Maryland (in the Suburban Maryland region).
[6] This joint venture’s property is in Hanover, Maryland (in the Baltimore/Washington Corridor).
[7] This joint venture’s property is in Charles County, Maryland.
[8] This joint venture’s property is in Lanham, Maryland (in the Suburban Maryland region).