XML 36 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
Investment in Joint Venture (Tables)
 6 Months Ended
Jun. 30, 2016
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 three and six months ended June 30, 2016 and 2015 are presented below (in thousands):
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2016
 
2015
 
2016
 
2015
Revenues
$
45,698

 
$
47,538

 
$
76,879

 
$
78,559

Total expenses
43,579

 
42,347

 
86,193

 
83,850

Net income (loss)
$
2,119

 
$
5,191

 
$
(9,314
)

$
(5,291
)
Company’s 49% interest of net income (loss)
1,038

 
2,543

 
(4,564
)
 
(2,593
)
Basis adjustment
49

 
181

 
140

 
280

Special loan interest income elimination
595

 
596

 
1,191

 
1,185

Equity in earnings (loss) in joint venture
$
1,682

 
$
3,320

 
$
(3,233
)
 
$
(1,128
)