Real Estate and Real Estate-Related Investments (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of information pertaining to consolidated investments

As of December 31, 2017, we consolidated seven real estate assets. The following table presents certain information about our consolidated investments as of December 31, 2017:

Property Name	Description	Location	Date Acquired	Ownership Interest
Gardens Medical Pavilion	Medical office building	Palm Beach Gardens, Florida	October 20, 2010	81.8	%
River Club and the Townhomes at River Club	Student housing	Athens, Georgia	April 25, 2011	85	%
Lakes of Margate	Multifamily	Margate, Florida	October 19, 2011	92.5	%
Arbors Harbor Town	Multifamily	Memphis, Tennessee	December 20, 2011	94	%
22 Exchange	Student housing and Retail	Akron, Ohio	April 16, 2013	90	%
Parkside Apartments (“Parkside”)	Multifamily	Sugar Land, Texas	August 8, 2013	90	%
Flats at Fishers Fishers	Multifamily	Fishers, Indiana	November 30, 2017	100	%

Schedule of sales of Real Estate

The following table presents our sale of real estate for the years ended December 31, 2017, 2016, and 2015 (dollars in millions):

		Ownership			Sales Contract		Net Cash		Gain on Sale of
Date of Sale	Property	Interest			Price		Proceeds⁽¹⁾		Real Estate
January 8, 2015	Babcock		85	%	$	5.4	$	5.2	$	2.0
February 21, 2015	AJS		99.7	%	$	14.1	$	13.0	$	3.3	⁽²⁾
September 1, 2015	Holstenplatz		100	%	$	18.4	$	18.0	$	8.6
September 9, 2015	Wimberly		95	%	$	43.5	$	42.9	$	8.9
August 16, 2016	Lakewood Flats		100	%	$	68.8	$	68.5	$	11.5
August 15, 2017	Courtyard Kauai Coconut Beach Hotel		80	%	$	62.0	$	24.0	$	20.9

(1)

A portion of the net cash proceeds was used to pay off the property-associated debt of $2.1 million, $6.5 million, $26.4 million, and $33.5 million for Babcock, AJS, Wimberly, and Lakewood Flats, respectively. The Holstenplatz debt was paid off on April 30, 2015. The property-associated debt of $36.0 million for the Courtyard Kauai Coconut Beach Hotel was assumed by the buyer.

(2)

The 2015 gain on sale for AJS of $3.3 million does not include an additional $0.1 million loss recorded in 2016 related to the final settlement of certain fees associated with our disposal of AJS.

Net income (loss), real estate sold during period

The following table presents net income attributable to the Company for the three years ended December 31, 2017, 2016 and 2015 related to the Courtyard Kauai Coconut Beach Hotel, Lakewood Flats, Babcock, AJS, Holstenplatz and Wimberly (dollars in millions):

	For the Year Ended December 31,
Description	2017		2016		2015
Net income attributable to the Company related to dispositions	$	16.9	$	12.4	$	17.4