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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 9 Months Ended
Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]  
Schedule of Investments in Unconsolidated Joint Ventures
As of September 30, 2020 and December 31, 2019, the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands):
Number of Properties as of September 30, 2020Investment Balance at
Joint VentureLocationOwnership %September 30, 2020December 31, 2019
NIP Joint Venture———$— $1,225 
110 William Joint Venture1New York, New York60.0%— — 
353 Sacramento Joint Venture1San Francisco, California55.0%43,790 42,214 
Battery Point Series A-3 Preferred UnitsN/AN/AN/A— 13,991 
Pacific Oak Opportunity Zone Fund I3VariousN/A20,891 20,846 
PORT II OP LP7Southaven, MississippiN/A5,005 — 
$69,686 $78,276 
110 William Joint Venture  
Schedule of Equity Method Investments [Line Items]  
Schedule of Investments in Unconsolidated Joint Ventures
Summarized financial information for the 110 William Joint Venture follows (in thousands):
September 30, 2020December 31, 2019
Assets:
       Real estate assets, net of accumulated depreciation and amortization$247,304 $242,430 
       Other assets43,178 35,747 
       Total assets$290,482 $278,177 
Liabilities and equity:
       Notes payable, net$312,664 $292,221 
       Other liabilities8,257 10,664 
       Partners’ deficit(30,439)(24,708)
Total liabilities and equity$290,482 $278,177 

Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Revenues$10,005 $9,274 $26,604 $26,975 
Expenses:
       Operating, maintenance, and management2,096 2,367 5,994 6,818 
       Real estate taxes and insurance1,935 1,818 5,580 5,248 
       Depreciation and amortization3,139 2,946 8,721 8,449 
       Interest expense4,125 4,084 12,093 12,816 
Total expenses11,295 11,215 32,388 33,331 
Total other income12 34 50 105 
Net loss$(1,278)$(1,907)$(5,734)$(6,251)
Company’s share of net loss (1)
$(767)$(1,144)$(3,440)$(3,751)
_____________________
(1) During the three and nine months ended September 30, 2019, the Company recorded $0 and $0.3 million of net losses in equity in income of unconsolidated entities and suspended the recording of the Company’s remaining share of net losses. During the three and nine months ended September 30, 2020, the Company did not record equity in income of unconsolidated entities.
353 Sacramento Joint Venture  
Schedule of Equity Method Investments [Line Items]  
Schedule of Investments in Unconsolidated Joint Ventures
Summarized financial information for the 353 Sacramento Joint Venture follows (in thousands):
September 30, 2020December 31, 2019
Assets:
       Real estate assets, net of accumulated depreciation and amortization$183,176 $180,592 
       Other assets18,434 21,822 
       Total assets$201,610 $202,414 
Liabilities and equity:
       Notes payable, net$115,500 $115,280 
       Other liabilities7,507 11,193 
       Partners’ capital78,603 75,941 
Total liabilities and equity$201,610 $202,414 

Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Revenues$5,520 $3,933 $15,771 $12,278 
Expenses:
       Operating, maintenance, and management932 923 2,450 2,693 
       Real estate taxes and insurance755 700 2,235 2,095 
       Depreciation and amortization1,894 1,718 5,135 4,849 
       Interest expense948 1,420 3,290 4,286 
Total expenses4,529 4,761 13,110 13,923 
Net income (loss)$991 $(828)$2,661 $(1,645)
Company’s equity in income (loss) of unconsolidated joint venture$583 $(419)$1,576 $(798)