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Investments in Unconsolidated Joint Ventures
 12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Joint Ventures
Investments in Unconsolidated Joint Ventures

At December 31, 2015, we were partners with third parties in three joint ventures, holding two office properties, comprised of four buildings and 0.8 million rentable square feet, and a sports club associated with our City Square property in Phoenix, Arizona. Our ownership interest percentage in each of these joint ventures is 5.0%.

No impairment charges were recorded in our investments in unconsolidated joint ventures for the year ended December 31, 2015. For the year ended December 31, 2014, we recorded non-cash impairment charges of $0.9 million to write-off our investment in the POP San Diego joint venture due to uncertainty surrounding the recoverability of our investment in the joint venture. The charge is included in “Equity in net (loss) earnings of unconsolidated joint ventures” on the consolidated statement of operations.

We account for our investments in joint ventures under the equity method of accounting.

The following tables summarize financial information for our unconsolidated joint ventures (in thousands):
 
For the year ended December 31,
 
2015
 
2014
Revenues:
 
 
 
Rental
$
11,915

 
$
14,383

Other
2,997

 
3,035

Total revenues
14,912

 
17,418

Expenses:
 

 
 

Rental operating
10,701

 
11,620

Depreciation and amortization
4,242

 
4,602

Interest
3,946

 
5,657

Other
10

 
—

Total expenses
18,899

 
21,879

Loss before gain (loss) on sale of properties and gain on extinguishment of debt
(3,987
)
 
(4,461
)
Gain (loss) on sale of properties
13,764

 
(3,340
)
Gain on extinguishment of debt
—

 
3,320

Net income (loss)
$
9,777

 
$
(4,481
)
 
 

 
 

Equity in net earnings (loss) of unconsolidated joint ventures
$
497

 
$
(1,147
)
 
 
December 31,
2015
 
December 31,
2014
Investment in real estate, net
$
56,321

 
$
77,655

Other assets
9,938

 
18,021

Total assets
$
66,259

 
$
95,676

 
 
 
 
Mortgage and other loans
$
45,575

 
$
66,152

Other liabilities
2,416

 
3,738

Total liabilities
$
47,991

 
$
69,890

 
 
 
 
Investment in unconsolidated joint ventures
$
913

 
$
1,281