Investments in Unconsolidated Entities and International Investments (Tables)

3 Months Ended

Mar. 31, 2022

Investments in Unconsolidated Entities and International Investments

Summary of equity method investments and share of income from such investments, balance sheet

	March 31,		December 31,
	2022		2021
Assets:
Investment properties, at cost	$	19,533,151	$	19,724,242
Less - accumulated depreciation		8,255,410		8,330,891
		11,277,741		11,393,351
Cash and cash equivalents		1,392,710		1,481,287
Tenant receivables and accrued revenue, net		517,657		591,369
Right-of-use assets, net		161,471		154,561
Deferred costs and other assets		369,541		394,691
Total assets	$	13,719,120	$	14,015,259
Liabilities and Partners’ Deficit:
Mortgages	$	15,075,434	$	15,223,710
Accounts payable, accrued expenses, intangibles, and deferred revenue		823,553		995,392
Lease liabilities		149,194		158,372
Other liabilities		414,084		383,018
Total liabilities		16,462,265		16,760,492
Preferred units		67,450		67,450
Partners’ deficit		(2,810,595)		(2,812,683)
Total liabilities and partners’ deficit	$	13,719,120	$	14,015,259
Our Share of:
Partners’ deficit	$	(1,260,901)	$	(1,207,396)
Add: Excess Investment		1,267,144		1,283,645
Our net Investment in unconsolidated entities, at equity	$	6,243	$	76,249

Summary of equity method investments and share of income from such investments, statements of operations

	For the Three Months Ended
	March 31,
	2022		2021
REVENUE:
Lease income	$	717,768	$	652,754
Other income		112,585		72,599
Total revenue		830,353		725,353
OPERATING EXPENSES:
Property operating		149,515		133,037
Depreciation and amortization		170,562		171,154
Real estate taxes		65,324		68,897
Repairs and maintenance		21,481		19,046
Advertising and promotion		19,318		19,444
Other		48,843		31,988
Total operating expenses		475,043		443,566
Operating Income Before Other Items		355,310		281,787
Interest expense		(144,448)		(146,196)
Net Income	$	210,862	$	135,591
Third-Party Investors’ Share of Net Income	$	104,657	$	68,141
Our Share of Net Income		106,205		67,450
Amortization of Excess Investment		(15,139)		(19,327)
Income from Unconsolidated Entities	$	91,066	$	48,123