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DRE » Topics » I was under the impression that that land was actually going to be worked. In the next 12 to 18 months, there was the ability to capitalize that carry cost?

This excerpt taken from the DRE 8-K filed May 3, 2006.

I was under the impression that that land was actually going to be worked. In the next 12 to 18 months, there was the ability to capitalize that carry cost?

 

Denny Oklak - Duke Realty Corporation - Chairman and CEO

 

Well, there’s — no. We’re not — as Matt said earlier, we don’t capitalize interest on the undeveloped land until we start a development project. Now — so we are going to start two this quarter, and those will capital – that land will get off the undeveloped [inaudible] books, and we’ll start capitalizing interest on those. But the rest of the undeveloped land, we don’t capitalize on until we start the development.

 

Chris Haley - Wachovia Securities - Analyst

 

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