Assets and Related Liabilities Held For Sale (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of Long Lived Assets and Liabilities Held-for-sale

Total assets and related liabilities held for disposition are summarized below.

Assets and liabilities held for non-sale disposition in all periods presented represent a portfolio of 48 hotels in the Hospitality segment that has been placed in receivership following the lender's acceleration of the underlying debt that was defaulted in April 2020. Control over the operations and any eventual sale of these hotels has been transferred to the receivers, who are acting for the benefit of the lender. The Company has not been released from its debt obligations, however, the debt is non-recourse to the Company.

	September 30, 2020						December 31, 2019
(In thousands)	Disposition by Sale		Non-Sale Disposition		Total Held for Disposition		Disposition by Sale		Non-Sale Disposition		Total Held for Disposition
Assets
Restricted cash	$	59,802	$	14,029	$	73,831	$	122,663	$	5,782	$	128,445
Real estate, net	3,385,797		751,430		4,137,227		4,421,888		1,019,849		5,441,737
Loans receivable	42,985		—		42,985		—		—		—
Deferred leasing costs and intangible assets, net	29,919		437		30,356		37,399		2,533		39,932
Other assets	74,437		20,722		95,159		97,219		35,752		132,971
Total assets held for disposition	$	3,592,940	$	786,618	$	4,379,558	$	4,679,169	$	1,063,916	$	5,743,085
Liabilities
Debt, net (1)	$	2,932,982	$	780,000	$	3,712,982	$	2,926,449	$	772,485	$	3,698,934
Lease intangibles and other liabilities	153,354		42,138		195,492		141,426		22,161		163,587
Total liabilities related to assets held for disposition	$	3,086,336	$	822,138	$	3,908,474	$	3,067,875	$	794,646	$	3,862,521

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(1)    Represents debt related to assets held for disposition if the debt is expected to be assumed by the acquirer upon sale or the debt is expected to be extinguished through lender's assumption of underlying collateral.

Included in the table above are assets and liabilities held for sale and for non-sale disposition that are related to discontinued operations (Note 16), as follows:

	September 30, 2020				December 31, 2019
(In thousands)	Hotel		Industrial		Hotel		Industrial
Assets
Restricted cash	$	69,033	$	—	$	112,923	$	—
Real estate, net	3,517,983		342,758		4,658,477		342,758
Deferred leasing costs and intangible assets, net	1,851		23,599		6,802		25,371
Other assets	80,198		4,247		111,229		3,917
Total assets held for disposition—discontinued operations	$	3,669,065	$	370,604	$	4,889,431	$	372,046
Liabilities
Debt, net	$	3,479,355	$	233,627	$	3,465,990	$	232,944
Lease intangibles and other liabilities	165,010		2,230		128,155		2,090
Total liabilities related to assets held for disposition—discontinued operations	$	3,644,365	$	235,857	$	3,594,145	$	235,034