Investment in Unconsolidated Joint Venture (Tables)

6 Months Ended

Jun. 30, 2014

The condensed balance sheets as of June 30, 2014 and December 31, 2013 for Worldwide Plaza are as follows:



(In thousands)	June 30, 2014			December 31, 2013
Real estate assets, at cost	$	697,643		$	696,342
Less accumulated depreciation and amortization	(87,351		)	(77,919		)
Total real estate assets, net	610,292			618,423
Other assets	253,620			248,048
Total assets	$	863,912		$	866,471

Debt	$	875,000		$	875,000
Other liabilities	13,129			9,923
Total liabilities	888,129			884,923
Deficit	(24,217		)	(18,452		)
Total liabilities and deficit	$	863,912		$	866,471

Company's basis	$	228,834		$	234,774

The condensed statement of operations for the three and six months ended June 30, 2014 for Worldwide Plaza is as follows:



	Three Months Ended			Six Months Ended
(In thousands)	June 30, 2014			June 30, 2014
Rental income	$	27,739		$	55,394
Other revenue	1,229			2,444
Total revenue	28,968			57,838
Operating expenses:
Operating expense	10,779			22,292
Depreciation and amortization	6,260			12,628
Total operating expenses	17,039			34,920
Operating income	11,929			22,918
Interest expense	(9,992		)	(19,874		)
Net income	1,937			3,044
Company's preferred distribution	(1,334		)	(7,745		)
Net loss to members	$	603		$	(4,701	)

Company's preferred distribution	$	3,894		$	7,745
Company's share of net loss from Worldwide Plaza	(957		)	(2,299		)
Reallocation of net loss to members	1,252			—
Company's income from Worldwide Plaza	$	4,189		$	5,446