INVESTMENTS IN NON-CONSOLIDATED ENTITIES (Tables)

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Summary of investment balances

Our investment balances as reported on our Consolidated Balance Sheets are as follows (in thousands):

Investment	Ownership			2014		2013
PTC/BSQ		20	%	$	7,444	$	7,960
Casa Linda		50	%		2,875		3,104
Woodlake Pointe		30	%		2,303		3,014
5433 Westheimer		57.5	%		2,369		2,726
Woodlake Square		3	%		-		21
Total				$	14,991	$	16,825

Schedule of combined condensed financial information for non-consolidated entities

We report our investments in these entities using the equity method of accounting due to our ability to exercise significant influence over them. Combined condensed financial information for our non-consolidated entities (at 100%) is summarized as of December 31, 2014 and 2013, and for the years ended December 31, 2014, 2013 and 2012 as follows:

	As of December 31,
Combined balance sheets (in thousands)	2014		2013
Assets
Property, net	$	145,653	$	148,774
Cash		5,605		4,806
Other assets		9,806		10,726
Total assets	$	161,064	$	164,306
Liabilities and partners’ capital
Notes payable	$	102,524	$	100,286
Other liabilities		9,102		8,441
Partners’ capital		49,438		55,579
Total liabilities and partners’ capital	$	161,064	$	164,306
MIG III share of net assets	$	14,991	$	16,825

	For the year ended December 31,
Combined statements of operations (in thousands)	2014			2013			2012
Revenues
Total revenues	$	17,023		$	15,996		$	15,270
Expenses
Depreciation and amortization		6,383			6,004			5,788
Interest		3,847			4,241			4,250
Other		9,200			4,891			7,475
Total expenses	$	19,430		$	15,136		$	17,513
Net income (loss)	$	(2,407	)	$	860		$	(2,243	)
MIG III share of net income (loss)	$	(1,094	)	$	(295	)	$	(1,325	)