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

9 Months Ended

Sep. 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 September 30, 2020 and December 31, 2019 (dollars in thousands):

	September 30,		December 31,
	2020		2019
Total real estate, net	$	1,947,336	$	1,901,081
Cash and cash equivalents		30,924		29,823
Other assets		226,578		172,941
Total assets	$	2,204,838	$	2,103,845
Third party debt, net	$	1,194,684	$	1,148,048
Accounts payable and accrued liabilities		49,352		55,114
Total liabilities		1,244,036		1,203,162
Total equity	$	960,802	$	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 nine months ended September 30, 2020 and 2019 (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Total revenues	$	36,335	$	75,378	$	114,961	$	233,836
Property operating expenses		16,697		27,505		46,462		87,073
Real estate depreciation and amortization		16,929		26,027		50,085		83,661
Operating income/(loss)		2,709		21,846		18,414		63,102
Interest expense		(9,955)		(20,779)		(30,451)		(64,309)
Gain/(loss) on sale of property		—		97,201		—		115,558
Net unrealized gain/(loss) on held investments		(17)		25,669		29,295		27,191
Other income/(loss)		18		82		127		194
Net income/(loss)	$	(7,245)	$	124,019	$	17,385	$	141,736

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 the DownREIT Partnership (not just our proportionate share) are presented below as of September 30, 2020 and December 31, 2019 (dollars in thousands):

	September 30,		December 31,
	2020		2019
Total real estate, net	$	1,053,312	$	1,106,703
Cash and cash equivalents		23		20
Note receivable from the General Partner		308,020		222,853
Other assets		6,728		4,829
Total assets	$	1,368,083	$	1,334,405
Secured debt, net	$	506,539	$	427,592
Other liabilities		27,817		28,087
Total liabilities		534,356		455,679
Total capital	$	833,727	$	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 nine months ended September 30, 2020 and 2019 (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Total revenue	$	33,182	$	32,434	$	97,967	$	96,065
Property operating expenses		(13,345)		(13,087)		(39,334)		(38,934)
Real estate depreciation and amortization		(21,229)		(20,620)		(63,326)		(61,424)
Operating income/(loss)		(1,392)		(1,273)		(4,693)		(4,293)
Interest expense		(4,179)		(4,162)		(11,405)		(11,979)
Other income/(loss)		2,228		2,054		6,057		6,060
Net income/(loss)	$	(3,343)	$	(3,381)	$	(10,041)	$	(10,212)