Related Party Transactions

6 Months Ended

Jun. 30, 2016

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

As of June 30, 2016, and December 31, 2015, AH LLC owned approximately 2.9% and 3.3%, respectively, of our outstanding Class A common shares. On a fully-diluted basis, AH LLC held (including consideration of 635,075 Class B common shares as of June 30, 2016, and December 31, 2015, 45,526,644 and 14,440,670 Class A common units as of June 30, 2016, and December 31, 2015, respectively, zero and 31,085,974 Series C convertible units as of June 30, 2016, and December 31, 2015, respectively, 8,750,000 and 4,375,000 Series D convertible units as of June 30, 2016, and December 31, 2015, respectively, and zero and 4,375,000 Series E convertible units as of June 30, 2016, and December 31, 2015, respectively) an approximate 18.7% and 22.1% interest at June 30, 2016, and December 31, 2015, respectively.

As of June 30, 2016, the Company had a net receivable of $1.2 million due from affiliates primarily related to expense reimbursements due from a joint venture, which was included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. As of December 31, 2015, the Company had a net payable of $4.1 million payable to affiliates related to declared and unpaid distributions on the Series C units, partially offset by expense reimbursements from affiliates, which was included in amounts payable to affiliates within the condensed consolidated balance sheets.

In June 2014, the Company and the Alaska Permanent Fund Corporation ("APFC") formed a joint venture (the "Alaska Joint Venture II"). As of June 30, 2016, and December 31, 2015, we had contributed $40.0 million to the Alaska Joint Venture II and APFC had contributed $160.0 million. During the quarter ended June 30, 2016, the Alaska Joint Venture II paid distributions totaling $6.0 million and $24.0 million to us and APFC, respectively. The Company accounts for its investment in the joint venture under the equity method of accounting as an investment in an unconsolidated subsidiary, which is included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets, as we do not have a majority interest or the ability to control the entity. The Company has a promoted interest in the Alaska Joint Venture II in addition to owning 20% of its equity.