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Investments in Real Estate Entities (Tables)
 12 Months Ended
Dec. 31, 2019
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 and presented on the accompanying Consolidated Balance Sheets as of the dates presented (dollars in thousands):

 
12/31/19
 
12/31/18
Assets:
 

 
 

Real estate, net
$
1,204,470

 
$
1,420,453

Other assets
196,488

 
47,333

Total assets
$
1,400,958

 
$
1,467,786

Liabilities and partners' capital:
 

 
 

Mortgage notes payable, net (1)
$
782,257

 
$
837,311

Other liabilities
157,379

 
15,627

Partners' capital
461,322

 
614,848

Total liabilities and partners' capital
$
1,400,958

 
$
1,467,786


_________________________________
(1)
The Company has not guaranteed the debt, nor does the Company have any obligation to fund this debt should the unconsolidated entity be unable to do so.
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 and presented on the accompanying Consolidated Statements of Comprehensive Income, for the years presented (dollars in thousands):

 
For the year ended
 
12/31/2019 (1)
 
12/31/2018 (2)
 
12/31/17
Rental and other income
$
144,431

 
$
92,533

 
$
102,261

Operating and other expenses
(55,732
)
 
(35,840
)
 
(40,341
)
Gain on sale of communities
21,748

 
54,202

 
136,333

Interest expense, net
(33,896
)
 
(22,500
)
 
(27,122
)
Depreciation expense
(58,387
)
 
(26,706
)
 
(25,914
)
Net income
$
18,164

 
$
61,689

 
$
145,217

 
 
 
 
 
 
Company's share of net income (3)
10,779

 
17,519

 
73,120

Amortization of excess investment and other
(2,127
)
 
(2,249
)
 
(2,376
)
Equity in income from unconsolidated real estate investments
$
8,652

 
$
15,270

 
$
70,744

_________________________________
(1)
Amounts include results from AVA North Point through the date the Company acquired its venture partner's 45.0% equity interest.
(2)
Amounts include results from the NYC Joint Venture from the date the venture was formed.
(3)
Includes the Company's share of gain on sale of communities and income recognized for its promoted interest.