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Investments in Unconsolidated Joint Ventures - Schedules of Combined Financial Statements for the Unconsolidated Joint Ventures (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Assets                
Commercial real estate property, net $ 4,202,069   $ 4,202,069     $ 4,134,860    
Cash and restricted cash 199,501 $ 191,979 199,501 $ 191,979   221,823    
Tenant and other receivables, related party receivables, and deferred rents receivable 41,202   41,202     33,270    
Right-of-use assets 875,878   875,878     885,929    
Other assets 507,712   507,712     413,670    
Total assets [1] 9,548,652   9,548,652     9,531,181    
Liabilities and equity                
Mortgages and other loans payable, net 1,644,494   1,644,494     1,491,319    
Lease liability - operating leases 819,439   819,439     827,692    
Other liabilities 423,816   423,816     471,401    
Equity 3,757,761 4,159,833 3,757,761 4,159,833 $ 3,803,648 3,855,925 $ 4,529,174 $ 4,646,922
Total liabilities and equity 9,548,652   9,548,652     9,531,181    
Company's investments in unconsolidated joint ventures 2,895,399   2,895,399     2,983,313    
Investments difference between carrying amount and underlying equity 539,500   539,500          
Combined statements of income for the unconsolidated joint ventures                
Total revenues 222,820 246,036 410,702 491,800        
Operating expenses 46,333 46,957 89,941 99,021        
Real estate taxes 32,058 39,885 63,664 81,268        
Operating lease rent 6,368 6,655 12,773 12,956        
Interest expense, net of interest income 35,803 40,621 66,976 82,274        
Amortization of deferred financing costs 1,677 2,154 3,216 4,175        
Depreciation and amortization 52,247 69,335 100,831 148,117        
Total expenses 219,637 253,329 424,444 528,547        
Gain on early extinguishment of debt 17,777 0 17,777 0        
Net income (loss) 1,959 (379,228) 20,348 (417,585)        
Company's equity in net income (loss) from unconsolidated joint ventures 4,325 (21,932) 115,485 (29,344)        
Joint venture                
Assets                
Commercial real estate property, net 16,514,243   16,514,243     17,561,406    
Cash and restricted cash 672,903   672,903     656,038    
Tenant and other receivables, related party receivables, and deferred rents receivable 619,409   619,409     673,532    
Debt and preferred equity investments, net 225,743   225,743     0    
Right-of-use assets 931,159   931,159     905,934    
Other assets 2,476,351   2,476,351     2,584,765    
Total assets 21,439,808   21,439,808     22,381,675    
Liabilities and equity                
Mortgages and other loans payable, net 13,593,682   13,593,682     14,799,277    
Deferred revenue 1,022,793   1,022,793     1,108,180    
Lease liability - operating leases 1,014,419   1,014,419     990,276    
Other liabilities 430,542   430,542     447,705    
Equity 5,378,372   5,378,372     5,036,237    
Total liabilities and equity 21,439,808   21,439,808     $ 22,381,675    
Company's investments in unconsolidated joint ventures 2,895,399   2,895,399          
Combined statements of income for the unconsolidated joint ventures                
Total revenues 365,007 344,289 730,346 733,741        
Operating expenses 59,733 58,776 125,483 120,744        
Real estate taxes 73,479 66,124 149,111 131,864        
Operating lease rent 8,478 7,258 17,503 14,439        
Interest expense, net of interest income 142,196 129,154 292,050 258,631        
Amortization of deferred financing costs 4,159 7,198 10,231 14,243        
Depreciation and amortization 135,611 117,402 269,789 242,668        
Total expenses 423,656 385,912 864,167 782,589        
Gain on early extinguishment of debt 61,185 0 233,704 0        
Net income (loss) 2,536 (41,623) 99,883 (48,848)        
Company's equity in net income (loss) from unconsolidated joint ventures $ 4,325 $ (21,932) $ 115,485 $ (29,344)        
[1]
(1) The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2. The consolidated balance sheets include the following amounts related to our consolidated VIEs, excluding the Operating Partnership: $104.1 million and $41.2 million of land, $65.2 million and $40.5 million of building and improvements, $— million and $— million of building and leasehold improvements, $— million and $— million of right of use assets, $1.6 million and $5.4 million of accumulated depreciation, $783.2 million and $676.9 million of other assets included in other line items, $204.3 million and $50.0 million of real estate debt, net, $0.9 million and $0.9 million of accrued interest payable, $— million and $— million of lease liabilities, and $328.9 million and $306.5 million of other liabilities included in other line items as of June 30, 2024 and December 31, 2023, respectively.