This excerpt taken from the DRE 8-K filed Jan 30, 2006.
Okay. And the project that you mentioned on your existing piece of land, is that the reason for the larger land sale gain number in the fourth quarter?
No, actually, because when we sell a piece of land on a construction contract, we take the land gain in over the term of the contract on a percentage of completion basis. The reason for the land sale gains in the fourth quarter, were always pushing, pushing our people to move excess land. We own a lot of land, as you know, and we put it in to use through development, through third party construction, and just selling it, for profit, and we have always done all three of those things. When you look at 2005, we actually employed about $130 million of land during the year. And of that, $55 million was sales of land that we had. So we had some good land sales in the fourth quarter. There was a couple of them that Id point out, one was we had some land in Atlanta up in the northern suburbs of Georgia 400, we still have quite a bit of land there, but we had one parcel adjacent to the Lucent building that we acquired a couple of years ago, and a residential developer came in, and wanted to buy it