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Investments in Unconsolidated Real Estate Funds (Tables)
 9 Months Ended
Sep. 30, 2018
Real Estate Investments [Abstract]  
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)

September 30, 2018

 

 

December 31, 2017

 

Our Share of Investments:

 

 

 

 

 

 

 

Property funds

$

2,059

 

 

$

2,429

 

Alternative investment fund

 

6,948

 

 

 

4,824

 

Investments in unconsolidated real estate funds

$

9,007

 

 

$

7,253

 

 

 

 

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

(Amounts in thousands)

 

September 30,

 

 

September 30,

 

Our Share of Net Income (Loss):

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net investment income

 

$

82

 

 

$

104

 

 

$

207

 

 

$

228

 

Net realized loss

 

 

-

 

 

 

(839

)

 

 

-

 

 

 

(665

)

Net unrealized (loss) gain

 

 

(270

)

 

 

202

 

 

 

(475

)

 

 

(26

)

Carried interest

 

 

-

 

 

 

(3,397

)

 

 

-

 

 

 

(5,590

)

Loss from unconsolidated real estate funds

$

(188

)

 

$

(3,930

)

 

$

(268

)

 

$

(6,053

)

 
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)

 

September 30, 2018

 

 

December 31, 2017

 

Balance Sheets:

 

 

 

 

 

 

 

 

Real estate investments

 

$

28,109

 

 

$

32,943

 

Cash and cash equivalents

 

 

144

 

 

 

138

 

Total assets

 

$

28,253

 

 

$

33,081

 

 

 

 

 

 

 

 

 

 

Other liabilities

 

$

1,171

 

 

$

1,058

 

Total liabilities

 

 

1,171

 

 

 

1,058

 

Equity

 

 

27,082

 

 

 

32,023

 

Total liabilities and equity

 

$

28,253

 

 

$

33,081

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

(Amounts in thousands)

2018

 

 

2017

 

 

2018

 

 

2017

 

Income Statements:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment income

 

$

4

 

 

$

479

 

 

$

9

 

 

$

1,441

 

Investment expenses

 

 

43

 

 

 

120

 

 

 

163

 

 

 

1,156

 

Net investment (loss) income

 

 

(39

)

 

 

359

 

 

 

(154

)

 

 

285

 

Net realized losses

 

 

-

 

 

 

(3,809

)

 

 

-

 

 

 

(3,875

)

Net unrealized losses

 

 

(3,880

)

 

 

(4,871

)

 

 

(6,897

)

 

 

(9,192

)

Loss from real estate

   fund investments

 

$

(3,919

)

 

$

(8,321

)

 

$

(7,051

)

 

$

(12,782

)