XML 82 R67.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments in Unconsolidated Joint Ventures - Schedules of Combined Financial Statements for the Unconsolidated Joint Ventures (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Assets          
Commercial real estate property, net $ 6,524,929   $ 6,524,929   $ 7,906,006
Cash and cash equivalents 160,248 $ 241,489 160,248 $ 241,489 127,888
Tenant and other receivables, related party receivables, and deferred rents receivable, net of allowance 44,614   44,614   57,644
Other assets 301,130   301,130   310,688
Liabilities and equity          
Mortgages and other loans payable, net 2,316,688   2,316,688   2,837,282
Deferred revenue/gain 110,283   110,283   208,119
Other liabilities 97,565   97,565   188,005
Company's investments in unconsolidated joint ventures 3,070,825   3,070,825   2,362,989
Combined statements of income for the unconsolidated joint ventures          
Operating expenses 56,852 75,927 172,871 221,285  
Ground rent 9,507 8,307 26,661 24,923  
Real estate taxes 48,805 64,160 139,788 186,173  
Interest expense, net of interest income 55,168 65,634 156,695 196,112  
Amortization of deferred financing costs 2,630 4,008 9,713 12,201  
Transaction related costs 163 186 673 365  
Depreciation and amortization 70,747 91,728 208,049 318,916  
Total expenses 265,553 333,913 782,138 1,032,337  
Loss on early extinguishment of debt (2,194) 0 (2,194) 0  
Company's equity in net income from unconsolidated joint ventures (1) 971 4,078 9,709 14,104  
Joint venture          
Investment in Unconsolidated Joint Ventures          
Management fees, base revenue 2,400 1,500 9,300 19,400  
Assets          
Commercial real estate property, net 14,091,365   14,091,365   12,822,133
Cash and cash equivalents 350,802   350,802   494,909
Tenant and other receivables, related party receivables, and deferred rents receivable, net of allowance 287,509   287,509   349,944
Debt and preferred equity investments, net 189,427   189,427   202,539
Other assets 2,235,237   2,235,237   1,407,806
Total assets 17,154,340   17,154,340   15,277,331
Liabilities and equity          
Mortgages and other loans payable, net 9,164,061   9,164,061   9,412,101
Deferred revenue/gain 1,851,079   1,851,079   985,648
Other liabilities 474,169   474,169   411,053
Equity 5,665,031   5,665,031   4,468,529
Total liabilities and equity 17,154,340   17,154,340   15,277,331
Company's investments in unconsolidated joint ventures 3,070,825   3,070,825   $ 2,362,989
Combined statements of income for the unconsolidated joint ventures          
Total revenues 304,869 216,100 940,005 643,210  
Operating expenses 56,304 38,055 166,433 115,996  
Ground rent 4,397 4,182 13,247 12,612  
Real estate taxes 56,747 37,282 169,612 107,391  
Interest expense, net of interest income 88,328 61,066 269,717 176,096  
Amortization of deferred financing costs 4,446 4,030 16,912 17,994  
Transaction related costs 0 0 0 146  
Depreciation and amortization 101,538 61,447 318,113 198,556  
Total expenses 311,760 206,062 954,034 628,791  
Loss on early extinguishment of debt 0 (7,638) 0 (7,638)  
Net (loss) income before gain on sale (1) (6,891) 2,400 (14,029) 6,781  
Company's equity in net income from unconsolidated joint ventures (1) $ 971 $ 4,078 $ 9,709 $ 14,104