Roberts Realty Investors, Inc. (Roberts Realty) is a self-administered, self-managed equity real estate investment trust (REIT) that owns and operates multifamily properties. As of December 31, 2009, the Company owned and managed four neighborhood retail centers, one office building, and six tracts of undeveloped land, all of which are located in Georgia. The Company has four operating segments: the multifamily segment consists of the Addison Place multifamily community, which was sold on June 24, 2008; the retail/office segment consists of four operating retail centers and one office building; the land segment consists of six tracts of undeveloped land totaling 149.6 acres that are either under development and construction or held for investment, and the corporate segment consists primarily of operating cash and cash equivalents plus miscellaneous other assets. It conducts its business through Roberts Properties Residential, L.P., which it refers to as the operating partnership.