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Investment in Unconsolidated Real Estate (Tables)
 12 Months Ended
Dec. 31, 2016
Schedule of Investments [Abstract]  
Summarized Information of Our Equity Method Investment Properties
The following table presents the combined summarized balance sheet of our unconsolidated joint venture. Amounts provided are attributable to the JV and do not represent our proportionate share, unless otherwise noted (in thousands).
 
December 31,
 
2016
 
2015
Assets
$
72

 
$
24,280

Liabilities
(31
)
 
(1,250
)
Partners’/members’ equity
$
41

 
$
23,030

Carrying value of the Company’s investment in unconsolidated real estate entities (1)
$
—

 
$
4,087

 
(1)
The difference between the carrying value of our investment in unconsolidated real estate entities and our 15% share of the underlying equity in the net assets of the JV are basis differences resulting from the contribution of our JV equity interest as part of our formation transactions that occurred on July 24, 2013. As of December 31, 2016 and 2015, unamortized basis differences were $0.0 million and $0.6 million, respectively.
The following table presents the combined summarized results of operations of our unconsolidated joint venture. These amounts include the results of operations of (i) the properties located at 3001 and 3175 Mission Oaks Boulevard during the period prior to November 17, 2014, and (ii) the final JV property during the period prior to July 6, 2016, when we acquired the remaining 85% ownership interest in the final JV property. Amounts provided are attributable to the JV and do not represent our proportionate share (in thousands).

 
Year Ended December 31,
 
2016
 
2015
 
2014
Revenues
$
1,281

 
$
2,673

 
$
7,018

Expenses
(442
)
 
(1,911
)
 
(6,526
)
Gain on sale of properties
3,458

 
—

 
13,389

Net income
$
4,297

 
$
762

 
$
13,881