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| 2006 not only saw strong performances across the office, retail and industrial asset classes but also included major renovation projects and the continued evolution of Harmon Meadow, Hartz Mountain's famed 175-acre mixed-use development in Secaucus, NJ. 168, utility clearing and grading costs incurred to locate transmission and distribution lines and pipelines are assigned to the asset classes of the property to which the costs relate--in general, asset class 49. Al vice president James Beecher said that it was "impossible to overstate the importance of diversification for institutional investors, both across asset classes and between the public and private markets. |
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