Investments in and Advances to Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2023

Schedule Of Equity Method Investments [Line Items]

Summary of Company's Equity Method Joint Ventures Included in Investments in and Advances

Unconsolidated Real Estate Ventures	Partner	Effective Ownership Percentage	Operating Properties
Dividend Trust Portfolio JV LP	Chinese Institutional Investors	20.0%	10
DDRM Joint Venture	Madison International Realty	20.0	2
RVIP IIIB, Deer Park, IL	Prudential	25.75	1

Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments

Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):

	December 31,
	2023			2022
Condensed Combined Balance Sheets
Land	$	180,588		$	212,326
Buildings		558,585			643,334
Fixtures and tenant improvements		58,626			70,636
		797,799			926,296
Less: Accumulated depreciation		(187,557	)		(220,642	)
		610,242			705,654
Construction in progress and land		1,616			1,965
Real estate, net		611,858			707,619
Cash and restricted cash		41,250			44,809
Receivables, net		9,847			11,671
Other assets, net		25,498			36,272
	$	688,453		$	800,371
Mortgage debt	$	464,255		$	535,093
Notes and accrued interest payable to the Company		2,627			2,972
Other liabilities		36,279			41,588
		503,161			579,653
Accumulated equity		185,292			220,718
	$	688,453		$	800,371
Company's share of accumulated equity	$	35,782		$	42,644
Basis differentials		1,099			(707	)
Deferred development fees, net of portion related to the Company's interest		(136	)		(301	)
Amounts payable to the Company		2,627			2,972
Investments in and Advances to Joint Ventures, net	$	39,372		$	44,608

Schedule of Fee and Other Income

Revenues earned by the Company related to all of the Company’s unconsolidated joint ventures are as follows (in millions):

	For the Year Ended December 31,
	2023		2022		2021
Revenue from contracts:
Asset and property management fees	$	5.7	$	7.7	$	10.6
Leasing commissions and development fees		0.4		1.9		2.2
		6.1		9.6		12.8
Other		0.7		1.0		1.7
	$	6.8	$	10.6	$	14.5

Unconsolidated Joint Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	For the Year Ended December 31,
	2023			2022			2021
Condensed Combined Statements of Operations
Revenues from operations	$	92,479		$	132,494		$	195,559
Expenses from operations:
Operating expenses		23,903			35,319			53,391
Impairment charges		—			17,550			—
Depreciation and amortization		32,578			46,518			66,618
Interest expense		25,601			34,055			43,379
Other (income) expense, net		10,467			12,303			12,074
		92,549			145,745			175,462
(Loss) income before gain on disposition of real estate		(70	)		(13,251	)		20,097
Gain on disposition of real estate, net		21,316			120,097			89,935
Net income attributable to unconsolidated joint ventures	$	21,246		$	106,846		$	110,032
Company's share of equity in net income of joint ventures	$	4,581		$	22,262		$	49,417
Basis differential adjustments(A)		1,996			5,630			(2,120	)
Equity in net income of joint ventures	$	6,577		$	27,892		$	47,297

The difference between the Company’s share of net income, as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials.