AmREIT Monthly Income & Growth Fund III Ltd
CIK:0001330466|SEC Filings
Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
|||||
| Revenues: | ||||||||
| Income (loss) from non-consolidated entities | $ 977 | $ (115) | $ 764 | $ (341) | ||||
| Expenses: | ||||||||
| General and administrative | 12 | 19 | 53 | 60 | ||||
| General and administrative - related party | 71 | 82 | 237 | 257 | ||||
| Asset management fees - related party | 89 | 88 | 266 | 266 | ||||
| Legal and professional | 59 | 62 | 204 | 191 | ||||
| Total operating expenses | 231 | 251 | 760 | 774 | ||||
| Operating loss | 746 | $ (366) | 4 | $ (1,115) | ||||
| Other income (expense): | ||||||||
| Interest income - related party | 28 | 78 | ||||||
| Interest and other income | $ 4 | $ 2 | $ 8 | |||||
| Interest expense | $ (1) | $ (6) | ||||||
| Federal Income Tax Expense | $ (10) | |||||||
| Total other income (expense), net | $ 32 | $ 1 | 76 | $ (6) | ||||
| Income (loss) from continuing operations | 778 | (365) | 80 | (1,121) | ||||
| Total income (loss) from discontinued operations | $ (23) | $ 14 | $ (1,554) | 2 | ||||
| Gain on sale of real estate acquired for investment | 6,798 | |||||||
| Income (loss) from discontinued operations | $ (23) | $ 14 | $ (1,554) | 6,800 | ||||
| Net income (loss) attributable to partners | 755 | (351) | (1,474) | [1] | 5,679 | [1] | ||
| Other comprehensive income of non-consolidated entity | 7 | 21 | 15 | 19 | ||||
| Net comprehensive income (loss) | $ 762 | $ (330) | $ (1,459) | $ 5,698 | ||||
| Income (loss) from continuing operations per Unit | $ 274.62 | $ (128.84) | $ 28.24 | $ (395.69) | ||||
| Income (loss) from discontinued operations per Unit | (8.12) | 4.94 | (548.54) | 2,400.28 | ||||
| Net income (loss) per Unit | $ 266.5 | $ (123.90) | $ (520.3) | $ 2,004.59 | ||||
| Weighted average Units outstanding | 2,833 | 2,833 | 2,833 | 2,833 | ||||
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Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands |
Sep. 30, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Real estate investments at cost: | ||
| Land | $ 4,760 | |
| Buildings | 9,723 | |
| Tenant improvements | 323 | |
| [us-gaap:RealEstateInvestmentPropertyAtCost] | 14,806 | |
| Less accumulated depreciation and amortization | (2,787) | |
| Real estate investments, net | 12,019 | |
| Investment in non-consolidated entities | $ 12,293 | 14,991 |
| Net real estate investments | 12,293 | 27,010 |
| Cash and cash equivalents | 5,297 | 4,044 |
| Tenant and accounts receivables, net | 15 | 222 |
| Accounts receivable - related party | 3,416 | 262 |
| Notes receivable | 13 | 93 |
| Notes receivable - related party | 1,093 | 312 |
| Deferred costs, net | 208 | |
| Other assets | 420 | |
| TOTAL ASSETS | 22,127 | 32,571 |
| Liabilities: | ||
| Notes payable | 8,980 | |
| Accounts payable and other liabilities | 156 | 649 |
| Accounts payable - related party | 771 | 215 |
| Security deposits | 68 | |
| TOTAL LIABILITIES | 927 | $ 9,912 |
| Partners' capital: | ||
| General partner | ||
| Limited partners, 2,833 Units outstanding at September 30, 2015 and December 31, 2014 | 21,220 | $ 22,694 |
| AOCI of non-consolidated entity | (20) | (35) |
| TOTAL PARTNERS' CAPITAL | 21,200 | 22,659 |
| TOTAL LIABILITIES AND PARTNERS' CAPITAL | $ 22,127 | $ 32,571 |