Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value

The table below aggregates the fair values of these financial assets and liabilities at June 30, 2015 and December 31, 2014, based on their levels in the fair value hierarchy.

	As of June 30, 2015
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Real estate fund investments:
Investments in Property Funds	$	193,081	$	-	$	-	$	193,081
Investments in Alternative Investment Funds		142,464		-		-		142,464
Total real estate fund investments		335,545		-		-		335,545
Marketable securities		21,524		21,524		-		-
Total assets	$	357,069	$	21,524	$	-	$	335,545
Interest rate swap liabilities	$	160,473		-	$	160,473		-
Total liabilities	$	160,473	$	-	$	160,473	$	-

	As of December 31, 2014
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Real estate fund investments:
Investments in Property Funds	$	183,216	$	-	$	-	$	183,216
Investments in Alternative Investment Funds		140,171		-		-		140,171
Total real estate fund investments		323,387		-		-		323,387
Marketable securities		20,159		20,159		-		-
Total assets	$	343,546	$	20,159	$	-	$	323,387
Interest rate swap liabilities	$	194,196		-	$	194,196		-
Total liabilities	$	194,196	$	-	$	194,196	$	-

Summary of Changes in Fair Value of Real Estate Fund Investments in Level 3

The table below summarizes the changes in the fair value of Real Estate Fund Investments that are classified as Level 3, for the three and six months ended June 30, 2015 and 2014.

	The Company				The Predecessor
	Three Months Ended		Six Months Ended		Three Months Ended		Six Months Ended
(Amounts in thousands)	June 30, 2015		June 30, 2015		June 30, 2014		June 30, 2014
Beginning balance	$	324,282	$	323,387	$	2,362,743	$	2,158,889
Purchases		-		22		6,494		164,181
Net unrealized gains		11,263		12,136		33,750		79,917
Ending Balance	$	335,545	$	335,545	$	2,402,987	$	2,402,987

Summary of Carrying Amounts and Fair Value of Financial Instruments

The following is a summary of the carrying amounts and fair value of these financial instruments as of June 30, 2015 and December 31, 2014.

	As of June 30, 2015				As of December 31, 2014
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash equivalents	$	289,917	$	289,917	$	401,215	$	401,215
Total Assets	$	289,917	$	289,917	$	401,215	$	401,215
	As of June 30, 2015				As of December 31, 2014
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Mortgage and notes payable	$	2,853,237	$	2,797,650	$	2,852,287	$	2,796,842
Total Liabilities	$	2,853,237	$	2,797,650	$	2,852,287	$	2,796,842

Property Funds [Member]

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Summary of Significant Unobservable Quantitative Inputs Utilized in Determining Fair Value of Investments

Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the Property Fund investments at June 30, 2015 and December 31, 2014.

	As of June 30, 2015				As of December 31, 2014
Unobservable Quantitative Input	Range		Weighted average (based on fair value of investments)		Range	Weighted average (based on fair value of investments)
Discount rates		7.00%		7.00%	6.50% - 7.25%		6.83%
Terminal capitalization rates	5.00% - 6.00%			5.55%	5.50% - 6.00%		5.72%

Alternative Investment Funds [Member]

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Summary of Significant Unobservable Quantitative Inputs Utilized in Determining Fair Value of Investments

Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the investments in the Alternative Investment Funds at June 30, 2015 and December 31, 2014.

	As of June 30, 2015			As of December 31, 2014
Unobservable Quantitative Input	Range	Weighted average (based on fair value of investments)		Range	Weighted average (based on fair value of investments)
Preferred return	8.49% - 14.00%		11.07%	8.50% - 14.00%		11.07%