Investments in Real Estate Entities (Tables)

6 Months Ended

Jun. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

Combined summary of the financial position of the entities accounted for using the equity method

The following is a combined summary of the financial position of the entities accounted for using the equity method discussed above as of the dates presented (dollars in thousands):

	6/30/2016		12/31/2015
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	1,022,056	$	1,392,833
Other assets	156,345		57,044
Total assets	$	1,178,401	$	1,449,877
Liabilities and partners’ capital:
Mortgage notes payable and credit facility	$	722,339	$	947,205
Other liabilities	20,332		20,471
Partners’ capital	435,730		482,201
Total liabilities and partners’ capital	$	1,178,401	$	1,449,877

Combined summary of the operating results of the entities accounted for using the equity method

The following is a combined summary of the operating results of the entities accounted for using the equity method discussed above for the periods presented (dollars in thousands):

	For the three months ended						For the six months ended
	6/30/2016			6/30/2015			6/30/2016			6/30/2015
	(unaudited)						(unaudited)
Rental and other income	$	33,808		$	43,395		$	70,763		$	88,650
Operating and other expenses	(12,967		)	(17,375		)	(27,137		)	(34,712		)
Gain on sale of communities	76,934			—			180,256			32,490
Interest expense, net (1)	(9,938		)	(10,334		)	(29,938		)	(20,811		)
Depreciation expense	(8,707		)	(11,942		)	(17,947		)	(23,845		)
Net income	$	79,130		$	3,744		$	175,997		$	41,772

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(1) Amount for 2016 includes charges for prepayment penalties and write-offs of deferred financing costs of $12,344.