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Cogdell Spencer Inc. Reports Third Quarter 2008 Financial Results
Date:11/6/2008

September 30, December 31,

2008 2007

Assets

Real estate properties:

Operating real estate properties $529,495 $486,279

Less: Accumulated depreciation (63,154) (44,596)

Total operating real estate

properties, net 466,341 441,683

Construction in progress 10,672 13,380

Total real estate properties, net 477,013 455,063

Cash and cash equivalents 10,637 3,555

Restricted cash 18,388 1,803

Tenant and accounts receivable, net 42,924 2,249

Goodwill and intangible assets, net 308,423 31,589

Other assets 27,689 11,978

Total assets $885,074 $506,237

Liabilities and stockholders' equity

Mortgage notes payable $234,497 $237,504

Revolving credit facility 90,000 79,200

Term loan 100,000 -

Accounts payable 23,185 5,817

Billings in excess of costs and estimated

earnings on uncompleted contracts 27,616 -

Deferred income taxes 40,302 217

Payable to Erdman shareholders 24,003 -

Other liabilities 47,751 21,243

Total liabilities 587,354 343,981

Minority interests 96,090 47,221

Stockholders' eq
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SOURCE Cogdell Spencer Inc.
Copyright©2008 PR Newswire.
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