Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2016

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during each of the years ended December 31, 2016, 2015 and 2014 (amounts in thousands).

	Year Ended December 31,
	2016			2015			2014
REVENUES
Rental income	$	355		$	499		$	1,309
Total revenues	355			499			1,309
EXPENSES (1)
Property and maintenance	(46		)	(60		)	(141		)
Real estate taxes and insurance	(461		)	65			267
General and administrative	119			85			89
Total expenses	(388		)	90			215
Discontinued operating income	743			409			1,094
Interest and other income	24			3			317
Other expenses	(280		)	—			—
Income and other tax (expense) benefit	(12		)	(15		)	(8		)
Discontinued operations	475			397			1,403
Net gain on sales of discontinued operations	43			—			179
Discontinued operations, net	$	518		$	397		$	1,582

(1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.

Starwood Portfolio [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Condensed Income Statement [Table Text Block]

As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the years ended December 31, 2016, 2015 and 2014 (amounts in thousands):

	Year Ended December 31,
	2016			2015			2014
REVENUES
Rental income	$	30,785		$	427,433		$	401,134
Total revenues	30,785			427,433			401,134
EXPENSES (1)
Property and maintenance	7,838			78,189			76,579
Real estate taxes and insurance	2,912			48,403			46,416
Property management	2			11			11
General and administrative	23			38			24
Depreciation	—			87,616			104,104
Total expenses	10,775			214,257			227,134
Operating income	20,010			213,176			174,000
Interest and other income	21			1			1
Other expenses	—			(35		)	(1		)
Interest (2):
Expense incurred, net	(380		)	(680		)	(701		)
Amortization of deferred financing costs	(707		)	(559		)	(98		)
Income and other tax (expense) benefit	(1		)	(1		)	(3		)
Net gain on sales of real estate properties	3,161,097			—			—
Income from operations	3,180,040			211,902			173,198
Income from operations attributable to Noncontrolling Interests – Partially Owned Properties	—			—			(14		)
Income from operations attributable to controlling interests – Operating Partnership	3,180,040			211,902			173,184
Income from operations attributable to Noncontrolling Interests – Operating Partnership	(122,152		)	(8,083		)	(6,598		)
Income from operations attributable to controlling interests – Company	$	3,057,888		$	203,819		$	166,586

(1) Includes expenses paid in the current period for properties held for sale.

(2) Includes only interest expense specific to secured mortgage notes payable for properties held for sale which was repaid at or before closing.