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Investment in Joint Venture (Tables)
 12 Months Ended
Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Summarized results of operations of investment in the Manhattan Collection joint venture
The summarized results of operations of the Company’s investment in the Manhattan Collection joint venture for the years ended December 31, 2014, 2013 and 2012 are presented below (in thousands):
 
For the year ended December 31,
 
2014
 
2013
 
2012
Revenues
$
185,609

 
$
172,968

 
$
174,718

Total expenses
169,683

 
161,145

 
158,394

Net income (loss)
$
15,926


$
11,823

 
$
16,324

Company’s 49% interest of net income (loss)
7,804

 
5,793

 
7,999

Basis adjustment
(128
)
 
(559
)
 
(2,062
)
Special loan interest income elimination
2,389

 
2,389

 
33

Equity in earnings (loss) in joint venture
$
10,065

 
$
7,623

 
$
5,970