Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Summary of real estate commitments

The following summarizes the Company’s real estate commitments at December 31, 2014 (dollars in thousands):

	Number of Properties	Costs Incurred to Date (a)			Expected Costs to Complete (unaudited)			Average Ownership Stake
Wholly-owned — under development	1	$	177,632	(b)	$	40,068		100	%
Wholly-owned — redevelopment	1	83,778		(b)	14,222			100	%
Joint ventures:
Unconsolidated joint ventures	3	225,013			172,155		(c)	Various
Participating loan investments	1	62,707		(d)	29,302		(e)	0	%
Total		$	549,130		$	255,747

Schedule of future minimum lease payments

Future minimum lease payments as of December 31, 2014 are as follows (dollars in thousands):

	Ground Leases (a)		Office Space
2015	$	5,412	$	709
2016	5,412		124
2017	5,412		76
2018	5,412		76
2019	5,412		76
Thereafter	313,735		109
Total	$	340,795	$	1,170

(a) For purposes of our ground lease contracts, the Company uses the minimum lease payment, if stated in the agreement. For ground lease agreements where there is a reset provision based on the communities appraised value or consumer price index but does not include a specified minimum lease payment, the Company uses the current rent over the remainder of the lease term.