Investment in Unconsolidated Joint Venture (Tables)

3 Months Ended

Mar. 31, 2014

The condensed balance sheets as of March 31, 2014 and December 31, 2013 for Worldwide Plaza are as follows:



(In thousands)	March 31, 2014			December 31, 2013
Real estate assets, at cost	$	696,426		$	696,342
Less accumulated depreciation and amortization	(82,635		)	(77,919		)
Total real estate assets, net	613,791			618,423
Other assets	247,705			248,048
Total assets	$	861,496		$	866,471

Debt	$	875,000		$	875,000
Other liabilities	10,294			9,923
Total liabilities	885,294			884,923
Deficit	(23,798		)	(18,452		)
Total liabilities and deficit	$	861,496		$	866,471

Company's basis	$	229,127		$	234,774

The condensed statement of operations for the three months ended March 31, 2014 for Worldwide Plaza is as follows:



	Three Months Ended
(In thousands)	March 31, 2014
Rental income	$	27,655
Other revenue	1,215
Total revenue	28,870
Operating expenses:
Operating expense	11,513
Depreciation and amortization	6,368
Total operating expenses	17,881
Operating income	10,989
Interest expense	(9,882		)
Net income	1,107
Company's preferred distribution	(3,851		)
Joint venture partner distribution	(2,560		)
Net loss to members	$	(5,304	)

Company's preferred distribution	$	3,851
Company's share of net loss from Worldwide Plaza	(2,594		)
Company's income from Worldwide Plaza	$	1,257