LIABILITIES FOR ESTIMATED COSTS IN EXCESS OF ESTIMATED RECEIPTS DURING LIQUIDATION (Tables)

9 Months Ended

Sep. 30, 2020

Liability during Liquidation [Abstract]

Schedule of Revenues and Expenses Expected to be Incurred during Liquidation

Upon transition to the liquidation basis of accounting on February 1, 2020, the Company accrued the following revenues and expenses expected to be incurred during liquidation (in thousands):

	As of February 1, 2020
Rental income	$	77,940
Other operating income	7,650
Operating, maintenance, and management	(31,311)
Real estate taxes and insurance	(11,254)
Asset management fees due to affiliate	(7,883)
General and administrative expenses	(11,810)
Interest expense	(9,000)
Other interest income	3,448
Liquidating transaction costs	(3,500)
Capital expenditures	(146,524)
Liabilities for estimated costs in excess of estimated receipts during liquidation	$	(132,244)

Summary of Changes in Liquidation Accrual of Company

The change in the liabilities for estimated costs in excess of estimated receipts during liquidation as of September 30, 2020 is as follows (in thousands):

	February 1, 2020		Cash Payments (Receipts)		Remeasurement of Assets and Liabilities		September 30, 2020
Assets:
Estimated net inflows from investments in real estate	$	34,025	$	(21,116)	$	8,043	$	20,952
	34,025		(21,116)		8,043		20,952
Liabilities:
Liquidation transaction costs	(3,500)		740		—		(2,760)
Corporate expenditures	(16,245)		7,136		(5,933)		(15,042)
Capital expenditures	(146,524)		36,542		(3,123)		(113,105)
	(166,269)		44,418		(9,056)		(130,907)
Total liabilities for estimated costs in excess of estimated receipts during liquidation	$	(132,244)	$	23,302	$	(1,013)	$	(109,955)