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Investment in Unconsolidated Ventures (Tables)
 6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Real Estate Ventures
The following is a summary of the financial position of the Real Estate Ventures as of June 30, 2015 and December 31, 2014 (in thousands):
 
June 30,
2015
 
December 31,
2014
Net property
$
1,295,947

 
$
1,281,282

Other assets
165,693

 
195,121

Other liabilities
59,472

 
68,481

Debt
927,032

 
965,077

Equity
475,136

 
442,845

 
 
 
 
Company’s share of equity (Company’s basis) (a) (b)
$
201,034

 
$
225,004


(a)
This amount includes the effect of the basis difference between the Company's historical cost basis and the basis recorded at the Real Estate Venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing Real Estate Ventures and upon the transfer of assets that were previously owned by the Company into a Real Estate Venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the Real Estate Venture level.
(b)
Does not include the negative investment balance of one real estate venture totaling $1.2 million as of June 30, 2015 and December 31, 2014, respectively, which is included in other liabilities.
Summary of results of operations of unconsolidated Real Estate Venture
The following is a summary of results of operations of the Real Estate Ventures in which the Company had interests during these periods (in thousands):
 
Three-month periods ended June 30,
 
Six-month periods ended June 30,
 
2015
 
2014
 
2015
 
2014
Revenue
$
43,239

 
$
35,074

 
$
89,348

 
$
69,459

Operating expenses
(19,132
)
 
(14,842
)
 
(37,665
)
 
(28,824
)
Interest expense, net
(10,136
)
 
(8,889
)
 
(19,982
)
 
(16,989
)
Depreciation and amortization
(17,412
)
 
(13,273
)
 
(36,536
)
 
(26,871
)
Net loss
$
(3,441
)
 
$
(1,930
)
 
$
(4,835
)
 
$
(3,225
)
 
 
 
 
 
 
 
 
Company’s share of loss (Company’s basis)
$
(873
)
 
$
(489
)
 
$
(742
)
 
$
(247
)