Annual report pursuant to Section 13 and 15(d)

ORGANIZATION (Details Narrative)

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ORGANIZATION (Details Narrative)
Dec. 31, 2012
Dec. 31, 2011
Organization Details Narrative    
REIT Distribution Threshold for Nontaxation 90.00%  
Shares held by Fortress and affiliates in Newcastle 4,900,000  
Options held by Fortress and affiliates in Newcastle 9,685,338 5,998,947