Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

The following table summarizes the general terms and Operating Partnership’s equity interests in the Funds and Mervyns II (dollars in millions):



Entity	Formation Date	Operating Partnership Share of Capital	Capital Called as of June 30, 2018		Unfunded Commitment		Equity Interest Held By Operating Partnership ^(a)	Preferred Return	Total Distributions as of June 30, 2018 ^(b)
Fund II and Mervyns II ^(c)	6/2004	28.33%	$	347.1	$	—	28.33%	8%	$	146.6
Fund III	5/2007	24.54%	420.2		29.8		24.54%	6%	551.9
Fund IV	5/2012	23.12%	412.7		117.3		23.12%	6%	136.7
Fund V	8/2016	20.10%	45.8		474.2		20.10%	6%	—

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(a)	Amount represents the current economic ownership at June 30, 2018, which could differ from the stated legal ownership based upon the cumulative preferred returns of the respective fund.


(b)	Represents the total for the Funds, including the Operating Partnership and noncontrolling interests’ shares.


(c)	During April 2018, a distribution of $15.0 million was made to the Fund II investors, including $4.3 million to the Operating Partnership. This amount remains subject to re-contribution to Fund II until April 2021.