Investment in Unconsolidated Joint Venture (Tables)

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

The condensed balance sheets as of December 31, 2015 and 2014 for Worldwide Plaza are as follows:



	December 31,
(In thousands)	2015			2014
Real estate assets, at cost	$	714,642		$	704,143
Less accumulated depreciation and amortization	(117,092		)	(97,181		)
Total real estate assets, net	597,550			606,962
Cash and cash equivalents	9,036			3,784
Other assets	259,894			252,000
Total assets	$	866,480		$	862,746

Debt	$	875,000		$	875,000
Other liabilities	15,515			12,442
Total liabilities	890,515			887,442
Deficit	(24,035		)	(24,696		)
Total liabilities and deficit	$	866,480		$	862,746

Company's basis	$	215,370		$	225,501

Condensed Income Statement

The condensed statements of operations for the years ended December 31, 2015 and 2014, and the period from October 31, 2013 (date of acquisition) to December 31, 2013 for Worldwide Plaza are as follows:



	Year Ended						Period from October 31, 2013 (date of acquisition) to
(In thousands)	December 31, 2015			December 31, 2014			December 31, 2013
Rental income	$	123,362		$	113,498		18,736
Other revenue	4,940			4,932			837
Total revenue	128,302			118,430			19,573
Operating expenses:
Operating expense	47,816			45,911			7,288
Depreciation and amortization	27,677			26,835			4,025
Total operating expenses	75,493			72,746			11,313
Operating income	52,809			45,684			8,260
Interest expense	(40,077		)	(40,077		)	(6,808		)
Net income	12,732			5,607			1,452
Company's preferred return	(15,736		)	(15,617		)	(2,653		)
Net loss to members	$	(3,004	)	$	(10,010	)	$	(1,201	)

Net income (loss) related to Worldwide Plaza includes the Company's pro rata share of Worldwide Plaza net income (loss) to members as well as the Company's preferred return less amortization of the basis difference. The following table presents the components of the income (loss) related to the Company's investment in Worldwide Plaza for the periods presented, which is included in income (loss) from unconsolidated joint venture on the consolidated statements of operations and comprehensive loss.



	Year Ended						Period from October 31, 2013 (date of acquisition) to
(In thousands)	December 31, 2015			December 31, 2014			December 31, 2013
Company's preferred return	$	15,736		$	15,617		$	2,653
Company's share of net loss from Worldwide Plaza	(1,470		)	(4,895		)	(587		)
Amortization of basis difference	(12,327		)	(12,221		)	(2,161		)
Company's income (loss) from Worldwide Plaza	$	1,939		$	(1,499	)	$	(95	)