Investments in Unconsolidated Real Estate Ventures

6 Months Ended

Jun. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Real Estate Ventures

The following is a summary of the composition of our investments in unconsolidated real estate ventures as of June 30, 2017 and December 31, 2016:



	Ownership Interest	Investment Balance
Investments	June 30, 2017	June 30, 2017		December 31, 2016
		(In thousands)
The Warner	55.0%	$	38,823	$	39,417
Other investments	Various	6,653		6,359
Total investments in unconsolidated real estate ventures		$	45,476	$	45,776

The following is a summary of the debt of our unconsolidated real estate ventures as of June 30, 2017 and December 31, 2016:



			Interest Rate	100% Unconsolidated Real Estate Ventures' Debt
Investments	Maturity		June 30, 2017	June 30, 2017			December 31, 2016
				(In thousands)
The Warner	06/01/23		3.65%	$	273,000		$	273,000
1101 17^th Street	01/19/18	⁽¹⁾	2.47%	31,000			31,000
Unconsolidated real estate ventures - mortgages payable				304,000			304,000
Unamortized deferred financing costs, net				(918		)	(1,034		)
Unconsolidated real estate ventures - mortgages payable, net				$	303,082		$	302,966

____________________

⁽¹⁾In January 2017, the 1101 17^th Street mortgage was extended from January 2017 to January 2018.

The following is a summary of the condensed combined financial information for all of our unconsolidated real estate ventures, as of June 30, 2017 and December 31, 2016 and for the three and six months ended June 30, 2017 and 2016:



	June 30, 2017		December 31, 2016
Balance sheet information:	(In thousands)
Total assets	$	606,293	$	598,239
Total liabilities	$	334,092	$	327,862
Noncontrolling interests	$	343	$	343
Total equity	$	271,858	$	270,034



	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Income statement information:	(In thousands)
Total revenue	$	18,318	$	17,379	$	36,557	$	34,702
Net income	$	3,570	$	2,298	$	5,993	$	2,476