UNCONSOLIDATED ENTITIES (UNITED DOMINION REALTY, L.P.) Unconsolidated Entities (UNITED DOMINION REALTY, L.P.) (Tables)

6 Months Ended

Jun. 30, 2020

Unconsolidated entities

Combined summary of balance sheets relating to unconsolidated joint ventures and partnerships

Combined summary balance sheets relating to the unconsolidated joint ventures’ and partnerships’ (not just our proportionate share) are presented below as of June 30, 2020 and December 31, 2019 (dollars in thousands):

	June 30,		December 31,
	2020		2019
Total real estate, net	$	1,922,313	$	1,901,081
Cash and cash equivalents		30,656		29,823
Other assets		216,356		172,941
Total assets	$	2,169,325	$	2,103,845
Third party debt, net	$	1,156,834	$	1,148,048
Accounts payable and accrued liabilities		46,057		55,114
Total liabilities		1,202,891		1,203,162
Total equity	$	966,434	$	900,683

Schedule of combined financial information relating to unconsolidated joint ventures and partnerships operations (not just proportionate share)

Combined summary financial information relating to the unconsolidated joint ventures’ and partnerships’ operations (not just our proportionate share) is presented below for the three and six months ended June 30, 2020 and 2019 (dollars in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Total revenues	$	37,312	$	76,926	$	78,626	$	158,458
Property operating expenses		14,468		29,256		29,765		59,568
Real estate depreciation and amortization		16,913		28,054		33,156		57,634
Operating income/(loss)		5,931		19,616		15,705		41,256
Interest expense		(10,149)		(21,606)		(20,496)		(43,530)
Gain/(loss) on sale of property		—		18,357		—		18,357
Net unrealized gain/(loss) on held investments		29,312		—		29,312		—
Other income/(loss)		117		9		109		1,634
Net income/(loss)	$	25,211	$	16,376	$	24,630	$	17,717

United Dominion Realty L.P.

Unconsolidated entities

Combined summary of balance sheets relating to unconsolidated joint ventures and partnerships

Combined summary balance sheets relating to all of the DownREIT Partnership (not just our proportionate share) are presented below as of June 30, 2020 and December 31, 2019 (dollars in thousands):

	June 30,		December 31,
	2020		2019
Total real estate, net	$	1,070,653	$	1,106,703
Cash and cash equivalents		20		20
Note receivable from the General Partner		220,937		222,853
Other assets		8,397		4,829
Total assets	$	1,300,007	$	1,334,405
Secured debt, net	$	425,859	$	427,592
Other liabilities		25,426		28,087
Total liabilities		451,285		455,679
Total capital	$	848,722	$	878,726

Schedule of combined financial information relating to unconsolidated joint ventures and partnerships operations (not just proportionate share)

Combined summary financial information relating to all of the DownREIT Partnership (not just our proportionate share) is presented below for the three and six months ended June 30, 2020 and 2019 (dollars in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Total revenue	$	32,107	$	32,025	$	64,785	$	63,631
Property operating expenses		(12,680)		(12,751)		(25,989)		(25,847)
Real estate depreciation and amortization		(21,112)		(20,510)		(42,098)		(40,804)
Operating income/(loss)		(1,685)		(1,236)		(3,302)		(3,020)
Interest expense		(3,609)		(3,929)		(7,226)		(7,817)
Other income/(loss)		1,941		2,018		3,830		4,006
Net income/(loss)	$	(3,353)	$	(3,147)	$	(6,698)	$	(6,831)