XML 61 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Real Estate Assets - Purchase Price Allocation (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Business Acquisition          
Tenant Improvements $ 175,400,000   $ 175,400,000   $ 167,275,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets 24,000   24,000    
Net assets acquired   $ 90,664,000   $ 90,664,000  
Satisfaction of loan receivables       46,397,000  
Total consideration       90,664,000  
Revenues 126,697,000 120,203,000 381,076,000 345,561,000  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 26,746,000 26,086,000 (102,321,000) 75,093,000  
Business Acquisition, Transaction Costs   1,016,000   1,016,000  
Business Combination, Acquisition Related Costs Paid To Related Party       936,000  
Multifamily Acquisitions [Member]          
Business Acquisition          
Land 12,945,000   12,945,000    
Buildings and improvements 100,113,000   100,113,000    
Furniture, fixtures and equipment 26,284,000   26,284,000    
Lease intangibles     5,968,000    
Accrued taxes (437,000)   (437,000)    
Security deposits, prepaid rents, and other liabilities (384,000)   (384,000)    
Cash paid     45,037,000    
Total consideration     144,513,000    
Revenues 2,883,000   5,258,000    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (1,832,000)   (4,018,000)    
capitalized acquisition costs asset acquisition     $ 4,085,000    
Finite-Lived Intangible Assets, Remaining Amortization Period     11 years 6 months    
business combination debt financing     $ 99,476,000    
Business Acquisition, Transaction Costs 0   0    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets 144,513,000   144,513,000    
Q2 2018 NMP acquisitions [Domain]          
Business Acquisition          
Land 9,328,000 57,916,000 9,328,000 57,916,000  
Buildings and improvements 12,264,000 101,873,000 12,264,000 101,873,000  
Tenant Improvements 2,099,000 8,230,000 2,099,000 8,230,000  
Finite-Lived Intangible Asset, Acquired-in-Place Leases 3,043,000 16,080,000 3,043,000 16,080,000  
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross 107,000 2,759,000 107,000 2,759,000  
Other Finite-Lived Intangible Assets, Gross 1,237,000 5,768,000 1,237,000 5,768,000  
Off-market Lease, Unfavorable (359,000) (10,537,000) (359,000) (10,537,000)  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets 61,000 98,000 61,000 98,000  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities (249,000) (748,000) (249,000) (748,000)  
Cash paid     7,891,000 115,913,000  
Total consideration     27,531,000 181,439,000  
Revenues 678,000 3,976,000 1,723,000 13,094,000  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 5,000 (997,000) 59,000 (2,126,000)  
capitalized acquisition costs asset acquisition     $ 470,000 $ 4,022,000  
Finite-Lived Intangible Assets, Remaining Amortization Period     10 years 2 months 12 days 8 years  
business combination debt financing     $ 19,640,000 $ 65,526,000  
Business Acquisition, Transaction Costs 249,000 1,799,000 249,000 1,799,000  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets 27,531,000 181,439,000 27,531,000 181,439,000  
westridge [Member]          
Business Acquisition          
Land   7,289,000   7,289,000  
Buildings and improvements   68,163,000   68,163,000  
Furniture, fixtures and equipment   16,966,000   16,966,000  
Lease intangibles       983,000  
Accrued taxes   (158,000)   (158,000)  
Security deposits, prepaid rents, and other liabilities   $ (2,579,000)   (2,579,000)  
Cash paid       2,717,000  
Mortgage debt, net       $ 41,550,000  
Revenues 2,042,000   5,980,000    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 36,000   $ 307,000    
Finite-Lived Intangible Assets, Remaining Amortization Period       0 years