XML 48 R21.htm IDEA: XBRL DOCUMENT v3.22.1
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

​