Investments in Unconsolidated Real Estate Funds (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Investment in Unconsolidated Real Estate Funds and Income or Loss from Fund Investments

The following tables summarize our investments in these unconsolidated real estate funds as of the dates thereof and the income or loss recognized for the periods set forth below.

	As of
(Amounts in thousands)	June 30, 2018		December 31, 2017
Our Share of Investments:
Property funds	$	2,352	$	2,429
Alternative investment fund		6,940		4,824
Investments in unconsolidated real estate funds	$	9,292	$	7,253

	For the Three Months Ended						For the Six Months Ended
(Amounts in thousands)	June 30,						June 30,
Our Share of Net Income (Loss):	2018			2017			2018			2017
Net investment income	$	59		$	71		$	125		$	124
Net realized (loss) gain		-			(5	)		-			174
Net unrealized loss		(73	)		(324	)		(205	)		(228	)
Carried interest		-			(2,153	)		-			(2,193	)
Loss from unconsolidated real estate funds	$	(14	)	$	(2,411	)		(80	)	$	(2,123	)

Schedule of Financial Information for Fund Investment

The following tables provide summarized financial information for Fund VII as of the dates and for the periods set forth below.

	As of
(Amounts in thousands)	June 30, 2018		December 31, 2017
Balance Sheets:
Real estate investments	$	31,126	$	32,943
Cash and cash equivalents		1,022		138
Total assets	$	32,148	$	33,081

Other liabilities	$	1,145	$	1,058
Total liabilities		1,145		1,058
Equity		31,003		32,023
Total liabilities and equity	$	32,148	$	33,081

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(Amounts in thousands)	2018			2017			2018			2017
Income Statements:
Investment income	$	5		$	777		$	5		$	962
Investment expenses		76			560			120			1,036
Net investment (loss) income		(71	)		217			(115	)		(74	)
Net realized losses		-			(66	)		-			(66	)
Net unrealized losses		(1,138	)		(4,456	)		(3,017	)		(4,321	)
Loss from real estate fund investments	$	(1,209	)	$	(4,305	)	$	(3,132	)	$	(4,461	)