of exiting a business in Japan, economic weakness in Asia and political unrest in Thailand, partially offset by growth in New Zealand and certain emerging markets.
Reinsurance commissions, fees and other revenue increased 48%, due mainly to the Benfield merger, partially offset by unfavorable foreign currency translation.
Organic revenue is even with 2008, as growth in domestic treaty business and slightly higher pricing was offset by greater client retention, and declines in investment banking and facultative placements.
Operating Income Operating income increased $54 million or 6% from 2008 to $900 million in 2009.
In 2009, operating income margins in this segment were 14.3%, up 60 basis points from 13.7% in 2008.
Contributing to increased operating income and margins were the merger with Benfield, lower E&O costs due to insurance recoveries, a pension curtailment gain of $54 million in 2009 versus a curtailment loss of $6 million in 2008, declines in anti-corruption and compliance initiative costs of $35 million, restructuring savings, and other cost savings initiatives.
These items were partially offset by an increase of $140 million in restructuring costs, $95 million of lower fiduciary investment income, Benfield integration costs and higher amortization of intangible assets obtained in the merger, and unfavorable foreign currency translation.
## Table 0 ##
Our Consulting segment generated 17% of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services, as follows: Consulting Services: 1.
Health and Benefits advises clients about how to structure, fund, and administer employee benefit programs that attract, retain, and motivate employees.
Benefits consulting include health and welfare, executive benefits, workforce strategies and productivity, absence management, benefits administration, data-driven health, compliance, employee commitment, investment advisory and elective benefits services.2.
Retirement specializes in global actuarial services, defined contribution consulting, investment consulting, tax and ERISA consulting, and pension administration.3.
Compensation focuses on compensatory advisory/counsel including: compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness, with special expertise in the financial services and technology industries.4.
Strategic Human Capital delivers advice to complex global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management.
Outsourcing offers employment processing, performance improvement, benefits administration and other employment-related services.
Beginning in late 2008 and continuing throughout 2009, the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace.
The prolonged economic downturn is adversely impacting our clients’ financial condition and the levels of business activities in the industries and geographies where we operate.
While we believe that the majority of our practices are well positioned to manage through this time, these challenges are reducing demand for some of our services and depressing the price of those services, which is having an adverse effect on our new business and results of operations.
## Table 1 ##
(1) Property operating income is a non-GAAP measure that consists of rental income, other property income and mortgage interest income, less rental expenses and real estate taxes.
This measure is used internally to evaluate the performance of property operations and we consider it to be a significant measure.
Property operating income should not be considered an alternative measure of operating results or cash flow from operations as determined in accordance with GAAP.
(2) FFO is a supplemental non-GAAP financial measure of real estate companies’ operating performances.
The National Association of Real Estate Investment Trusts (“NAREIT”) defines FFO as follows: net income, computed in accordance with U. S.  GAAP, plus real estate related depreciation and amortization and excluding extraordinary items and gains on the sale of real estate.
We compute FFO in accordance with the NAREIT definition, and we have historically reported our FFO available for common shareholders in addition to our net income.
We consider FFO available for common shareholders a meaningful, additional measure of operating performance primarily because it excludes the assumption that the value of the real estate assets diminishes predictably over time, as implied by the historical cost convention of GAAP and the recording of depreciation.
We use FFO primarily as one of several means of assessing our operating performance in comparison with other REITs.
Comparison of our presentation of FFO to similarly titled measures for other REITs may not necessarily be meaningful due to possible differences in the application of the NAREIT definition used by such REITs.
Additional information regarding our calculation of FFO is contained in “Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
” The reconciliation of net income to funds from operations available for common shareholders is as follows:
## Table 2 ##
(3) Includes a charge of $0.3 million and $16.4 million in 2010 and 2009, respectively, for adjusting the accrual for litigation regarding a parcel of land located adjacent to Santana Row as well as other costs related to the litigation and appeal process.
The matter is further discussed in Note 9 to the consolidated financial statements.
(4) The SEC has stated that EBITDA is a non-GAAP measure as calculated in the table below.
Adjusted EBITDA is a non-
agreements or 180 days after the respective acquisition dates, the third party intermediary is the legal owner of each property, although we control the activities that most significantly impact each property and retain all of the economic benefits and risks associated with each property.
Each property is held by a third party intermediary in a variable interest entity for which we are the primary beneficiary.
Accordingly, we consolidate these properties and their operations even during the period they are held by a third party intermediary.
Quantitative and qualitative information regarding significant assets and liabilities for VIEs during 2011 and 2010 are included in Note 3.
A summary of the significant properties is as follows:
## Table 3 ##
We determined the joint venture that owns Plaza El Segundo is a variable interest entity for which we are the primary beneficiary.
We are the managing member and own 48.2% of the entity.
We control the significant operating decisions, consequently having the power to direct the activities that most significantly impact economic performance of the VIE, and have the obligation to absorb the majority of the losses and receive the majority of the benefits.
Therefore, the entity is consolidated in our financial statements as of December 30, 2011.
The effective purchase price was $192.7 million which is included in real estate assets.
The entity has a $175.0 million mortgage payable due in August 2017 with a fair value of $185.6 million which is included in mortgages payable at December 31, 2011.
Plaza El Segundo's creditors do not have recourse to our general credit.
Our maximum exposure to loss is our initial net investment of $8.5 million.
Redeemable Noncontrolling Interests We have certain noncontrolling interests that are redeemable for cash upon the occurrence of an event that is not solely in our control and therefore are classified outside of permanent equity.
We adjust the carrying amounts of these noncontrolling interests that are currently redeemable to redemption value at the balance sheet date.
Adjustments to the carrying amount to reflect changes in redemption value are recorded as adjustments to additional paid-in capital in shareholders' equity.
These amounts are classified within the mezzanine section of the consolidated balance sheets.
The following table provides a rollforward of the redeemable noncontrolling interests:

<table><tr><td>Years Ended December 31,</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>Segment revenue</td><td>$1,267</td><td>$1,356</td><td>$1,345</td></tr><tr><td>Segment operating income</td><td>203</td><td>208</td><td>180</td></tr><tr><td>Segment operating income margin</td><td>16.0%</td><td>15.3%</td><td>13.4%</td></tr></table>
<table><tr><td rowspan="3"></td><td colspan="5">As of December 31,</td></tr><tr><td>2011</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td colspan="5">(In thousands, except per share data)</td></tr><tr><td>Balance Sheet Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Real estate, at cost</td><td>$4,434,544</td><td>$3,895,942</td><td>$3,759,234</td><td>$3,673,685</td><td>$3,452,847</td></tr><tr><td>Total assets</td><td>$3,659,908</td><td>$3,159,553</td><td>$3,222,309</td><td>$3,092,776</td><td>$2,989,297</td></tr><tr><td>Mortgages payable and capital lease obligations</td><td>$810,616</td><td>$589,441</td><td>$601,884</td><td>$452,810</td><td>$450,084</td></tr><tr><td>Notes payable</td><td>$295,159</td><td>$97,881</td><td>$261,745</td><td>$336,391</td><td>$210,820</td></tr><tr><td>Senior notes and debentures</td><td>$1,004,635</td><td>$1,079,827</td><td>$930,219</td><td>$956,584</td><td>$977,556</td></tr><tr><td>Preferred shares</td><td>$9,997</td><td>$9,997</td><td>$9,997</td><td>$9,997</td><td>$9,997</td></tr><tr><td>Shareholders’ equity-6</td><td>$1,240,604</td><td>$1,115,768</td><td>$1,151,738</td><td>$1,084,569</td><td>$1,081,550</td></tr><tr><td>Number of common shares outstanding</td><td>63,544</td><td>61,526</td><td>61,242</td><td>58,986</td><td>58,646</td></tr></table>
<table><tr><td></td><td>2011</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td></td><td colspan="5">(In thousands)</td></tr><tr><td>Net income</td><td>$149,612</td><td>$128,237</td><td>$103,872</td><td>$135,153</td><td>$201,127</td></tr><tr><td>Net income attributable to noncontrolling interests</td><td>-5,695</td><td>-5,447</td><td>-5,568</td><td>-5,366</td><td>-5,590</td></tr><tr><td>Gain on sale of real estate</td><td>-15,075</td><td>-1,410</td><td>-1,298</td><td>-12,572</td><td>-94,768</td></tr><tr><td>Gain on deconsolidation of VIE</td><td>-2,026</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Depreciation and amortization of real estate assets</td><td>113,188</td><td>107,187</td><td>103,104</td><td>101,450</td><td>95,565</td></tr><tr><td>Amortization of initial direct costs of leases</td><td>10,432</td><td>9,552</td><td>9,821</td><td>8,771</td><td>8,473</td></tr><tr><td>Depreciation of joint venture real estate assets</td><td>1,771</td><td>1,499</td><td>1,388</td><td>1,331</td><td>1,241</td></tr><tr><td>Funds from operations</td><td>252,207</td><td>239,618</td><td>211,319</td><td>228,767</td><td>206,048</td></tr><tr><td>Dividends on preferred shares</td><td>-541</td><td>-541</td><td>-541</td><td>-541</td><td>-442</td></tr><tr><td>Income attributable to operating partnership units</td><td>981</td><td>980</td><td>974</td><td>950</td><td>1,156</td></tr><tr><td>Income attributable to unvested shares</td><td>-1,071</td><td>-847</td><td>-687</td><td>-779</td><td>-725</td></tr><tr><td>Funds from operations available for common shareholders</td><td>$251,576</td><td>$239,210</td><td>$211,065</td><td>$228,397</td><td>$206,037</td></tr></table>
<table><tr><td>Property</td><td>Dates Held by a Third Party Intermediary</td><td>Date Consolidated</td></tr><tr><td>Courtyard Shops</td><td>September 4, 2008 to March 2, 2009</td><td>September 4, 2008</td></tr><tr><td>Huntington Square</td><td>August 16, 2010 to February 12, 2011</td><td>August 16, 2010</td></tr><tr><td>Tower Shops</td><td>January 19, 2011 to July 12, 2011</td><td>January 19, 2011</td></tr></table>

Question: What will Total assets be like in 2012 if it develops with the same increasing rate as current? (in thousand)
Answer: 4239500.5143