XML 36 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Investments in Real Estate-Related Assets (Tables)
 6 Months Ended
Jun. 30, 2020
Real Estate [Abstract]  
Information about Properties Relating to Location, Rentable Square Feet, and Annualized Rental Income Error extracting Word content

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

DST Properties(2)

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues

$

580,937

 

 

$

580,938

 

 

$

1,161,874

 

 

$

1,161,875

 

Operating expenses

 

(318,409

)

 

 

(280,885

)

 

 

(636,766

)

 

 

(491,295

)

Other expenses, net

 

(261,171

)

 

 

(261,170

)

 

 

(522,342

)

 

 

(519,471

)

Net income (loss)

$

1,357

 

 

$

38,883

 

 

$

2,766

 

 

$

151,109

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company(1)

$

—

 

 

$

40,971

 

 

$

—

 

 

$

137,147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

CO Property(3)

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues

$

840,711

 

 

$

840,711

 

 

$

1,681,422

 

 

$

1,681,422

 

Operating expenses

 

(363,807

)

 

 

(364,034

)

 

 

(727,527

)

 

 

(727,391

)

Other expenses, net

 

(342,502

)

 

 

(337,967

)

 

 

(684,388

)

 

 

(688,936

)

Net income (loss)

$

134,402

 

 

$

138,710

 

 

$

269,507

 

 

$

265,095

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company(1)

$

—

 

 

$

(11,177

)

 

$

—

 

 

$

(11,177

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

Pennsylvania SPE(4)

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues

$

234,545

 

 

$

231,264

 

 

$

469,091

 

 

$

457,444

 

Operating expenses

 

(105

)

 

 

(267

)

 

 

(225

)

 

 

(267

)

Other expenses, net

 

222

 

 

 

2,268

 

 

 

1,251

 

 

 

2,268

 

Net income (loss)

$

234,662

 

 

$

233,265

 

 

$

470,117

 

 

$

459,445

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company(1)

$

—

 

 

$

117,003

 

 

$

—

 

 

$

253,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

Illinois SPE(5)

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues

$

250,241

 

 

$

246,739

 

 

$

500,483

 

 

$

488,056

 

Operating expenses

 

(105

)

 

 

(272

)

 

 

(225

)

 

 

(272

)

Other expenses, net

 

237

 

 

 

2,447

 

 

 

1,330

 

 

 

2,447

 

Net income (loss)

$

250,373

 

 

$

248,914

 

 

$

501,588

 

 

$

490,231

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company(1)

$

—

 

 

$

176,107

 

 

$

—

 

 

$

321,811

 

Note:

(1) Represents the Company’s allocable share of net income based on the Company’s ownership interest in the underlying investment in real estate-related assets and is included within Income from investments in real-estate related assets on the Company’s unaudited consolidated statements of operations.

(2) Effective May 9, 2019, the Company has consolidated the DST, and has no longer accounted for its investment in the DST under the equity method of accounting. See Note 3 – Investment in Real Estate for additional information.

(3) On April 30, 2019, the Company purchased CFI’s remaining interest in the CO Property SPE in the amount of $190,057. The difference between the purchase price paid by the Company to acquire the remaining interests and the value of the Non-controlling interest in subsidiaries per the Company’s balance sheet has been accounted for in Income from investments in real estate-related assets on the Company’s consolidated statements of operations.

(4) Effective June 5, 2019, the Company has consolidated the Pennsylvania SPE, and has no longer accounted for its investment in the Pennsylvania SPE under the equity method of accounting.

(5) Effective October 29, 2019, the Company has consolidated the Illinois SPE, and has no longer accounted for its investment in the Pennsylvania SPE under the equity method of accounting.