Investments in Real Estate Entities (Tables)

3 Months Ended

Mar. 31, 2017

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):

	3/31/2017		12/31/2016
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	862,612	$	954,493
Other assets	76,208		49,519
Total assets	$	938,820	$	1,004,012
Liabilities and partners' capital:
Mortgage notes payable, net and credit facility	$	625,256	$	689,573
Other liabilities	15,861		16,537
Partners' capital	297,703		297,902
Total liabilities and partners' capital	$	938,820	$	1,004,012

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
	3/31/2017			3/31/2016
	(unaudited)
Rental and other income	$	28,642		$	36,955
Operating and other expenses	(11,094		)	(14,170		)
Gain on sale of communities	29,447			103,321
Interest expense, net (1)	(6,948		)	(20,001		)
Depreciation expense	(7,327		)	(9,240		)
Net income	$	32,720		$	96,865

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(1) Amount for the three months ended March 31, 2016 includes charges for prepayment penalties and write-offs of deferred financing costs of $10,864.