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Investment in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of information relating to unconsolidated joint ventures
Information relating to these unconsolidated joint ventures is summarized below (in thousands, except ownership percentages):
 
 
 
 
Parkway's
 
December 31,
Joint Venture Entity
 
Location
 
Ownership%
 
2015
 
2014
US Airways Building Tenancy in Common
 
Phoenix, AZ
 
74.58%
 
$
38,472

 
$
39,760

7000 Central Park JV LLC ("7000 Central Park")
 
Atlanta, GA
 
40.00%
 
120

 
15,790

Tryon Place, LLC
 
Charlotte, NC
 
14.80%
 
1,000

 
—

 
 
 
 
 
 
$
39,592

 
$
55,550
Summary of balance sheets and income statements of unconsolidated joint ventures
The following table summarizes the balance sheets of the unconsolidated joint ventures at December 31, 2015 excludes Tryon Place, LLC (in thousands):
 
 
US Airways Building
 
7000 Central Park (1)
Cash
 
$
138

 
$
421

Real estate, net
 
46,087

 
—

Intangible assets, net
 
2,265

 
—

Receivables and other assets
 
3,472

 
41

Total assets
 
$
51,962

 
$
462

 
 
 
 
 
Mortgage debt
 
$
13,105

 
$
—

Other liabilities
 
381

 
85

Partners' equity
 
38,476

 
377

Total liabilities & partners' equity
 
$
51,962

 
$
462

(1) The joint venture sold its only asset on November 6, 2015.

The following table summarizes the income statements of the unconsolidated joint ventures for the year ended December 31, 2015, excludes Tryon Place, LLC (in thousands):
 
 
US Airways Building
 
7000 Central Park (1)
Revenues
 
$
4,504

 
$
6,840

Operating expenses
 
(8
)
 
(3,376
)
Depreciation and amortization
 
(2,089
)
 
(3,911
)
Operating income (loss) before other income and expenses
 
2,407

 
(447
)
Net gains on sale of real estate
 
—

 
30,478

Loss on extinguishment of debt
 
—

 
(172
)
Interest expense
 
(404
)
 
(533
)
Loan cost amortization
 
—

 
(720
)
Net income
 
$
2,003

 
$
28,606


(1) The joint venture sold its only asset on November 6, 2015.
    












The following table summarizes the balance sheets of the unconsolidated joint ventures at December 31, 2014 (in thousands):
 
 
US Airways Building
 
7000 Central Park
Cash
 
$
146

 
$
1,218

Restricted cash
 
—

 
269

Real estate, net
 
47,632

 
48,532

Intangible assets, net
 
5,078

 
4,157

Receivables and other assets
 
824

 
2,099

Total assets
 
$
53,680

 
$
56,275

 
 
 
 
 
Mortgage debt
 
$
13,441

 
$
30,000

Other liabilities
 
370

 
1,561

Partners' equity
 
39,869

 
24,714

Total liabilities & partners' equity
 
$
53,680

 
$
56,275


The following table summarizes the income statements of the unconsolidated joint ventures for the year ended December 31, 2014 (in thousands):
 
 
US Airways Building
 
7000 Central Park
 
Austin Joint Venture 
Revenues
 
$
4,504

 
$
7,430

 
$
86,548

Operating expenses
 
(3
)
 
(3,856
)
 
(36,467
)
Depreciation and amortization
 
(2,089
)
 
(4,352
)
 
(32,877
)
Operating income (loss) before other income and expenses
 
2,412

 
(778
)
 
17,204

Interest expense
 
(413
)
 
(593
)
 
(33,671
)
Loan cost amortization
 
—

 
(176
)
 
565

Other expenses
 
—

 
—

 
(1
)
Net income (loss)
 
$
1,999

 
$
(1,547
)
 
$
(15,903
)