The Prudential Series Fund
The Prudential Series Fund
The Prudential Series Fund
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THE PRUDENTIAL VARIABLE CONTRACT REAL PROPERTY PARTNERS HIP<br />
CONSOLIDATED S TATEMENTS OF AS S ETS AND LIABILITIES<br />
ASSETS<br />
December 31, 2008 December 31, 2007<br />
REAL ESTATE INVESTMENTS - At estimated fair value:<br />
Real estate and improvements<br />
(cost: 12/31/2008 - $245,808,214; 12/31/2007 -$236,466,116) $221,196,000 $254,394,053<br />
Real estate partnerships and preferred equity investments (cost:<br />
12/31/2008 - $14,324,204; 12/31/2007 - $14,523,934) 11,796,716 14,523,934<br />
Total real estate investments $232,992,716 $268,917,987<br />
CASH AND CASH EQUIVALENTS 27,736,520 18,215,871<br />
OTHER ASSETS, NET 2,936,037 3,033,040<br />
Total assets $263,665,273 $290,166,898<br />
LIABILITIES & PARTNERS ' EQUITY<br />
INVESTMENT LEVEL DEBT (net of unamortized<br />
discount: 12/31/08 $26,480; 12/31/07 $-) $40,047,827 $32,121,712<br />
ACCOUNTS PAYABLE AND ACCRUED EXPENSES 2,924,938 2,184,812<br />
DUE TO AFFILIATES 851,595 901,371<br />
OTHER LIABILITIES 978,342 920,454<br />
MINORITY INTEREST 4,924,263 7,004,790<br />
Total liabilities 49,726,965 43,133,139<br />
COMMITMENTS AND CONTINGENCIES<br />
PARTNERS' EQUITY 213,938,308 247,033,759<br />
Total liabilities and partners' equity $263,665,273 $290,166,898<br />
NUMBER OF SHARES OUTSTANDING AT END OF PERIOD 6,758,960 6,758,960<br />
PER SHARE NET ASSET VALUE AT END OF PERIOD $31.65 $36.55<br />
<strong>The</strong> accompanying notes are an integral part of these consolidated financial statements.<br />
B-1 Real Property