XML 82 R67.htm IDEA: XBRL DOCUMENT v3.4.0.3
Investments in Unconsolidated Joint Ventures (Schedules of Combined Financial Statements for the Unconsolidated Joint Ventures)(Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Assets      
Commercial real estate property, net $ 12,828,941   $ 14,620,896
Other assets 1,055,267   850,939
Liabilities and members' equity      
Mortgages and other loans payable, net 5,585,171   6,881,920
Other liabilities 247,950   168,477
Company's investments in unconsolidated joint ventures 1,146,085   1,203,858
Combined statements of income for the unconsolidated joint ventures      
Operating expenses 79,520 $ 76,777  
Ground rent 8,308 8,188  
Real estate taxes 61,674 55,723  
Interest expense, net of interest income 94,672 75,807  
Amortization of deferred financing costs 7,932 6,615  
Transaction related costs 1,279 1,143  
Depreciation and amortization 179,308 108,337  
Total expenses 456,725 358,054  
Company's equity in net income from unconsolidated joint ventures 10,096 4,030  
Joint venture      
Assets      
Commercial real estate property, net 5,998,692   6,122,468
Debt and preferred equity investments, net 284,014   145,878
Other assets 673,317   715,840
Total assets 6,956,023   6,984,186
Liabilities and members' equity      
Mortgages and other loans payable, net 4,319,655   4,266,548
Other liabilities 523,359   523,160
Members' equity 2,113,009   2,194,478
Total liabilities and members' equity 6,956,023   $ 6,984,186
Combined statements of income for the unconsolidated joint ventures      
Total revenues 162,512 128,916  
Operating expenses 27,254 25,486  
Ground rent 3,211 2,592  
Real estate taxes 24,210 19,376  
Interest expense, net of interest income 49,736 44,007  
Amortization of deferred financing costs 3,236 3,010  
Transaction related costs 0 8  
Depreciation and amortization 37,851 32,984  
Total expenses 145,498 127,463  
Loss on early extinguishment of debt (1,606) (833)  
Net income before gain on sale 15,408 620  
Company's equity in net income from unconsolidated joint ventures 10,096 4,030  
Joint venture      
Investment in Unconsolidated Joint Ventures      
Management fees, base revenue $ 4,500 $ 2,800