Investments in Real Estate Entities (Tables)

3 Months Ended

Mar. 31, 2020

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):

	3/31/2020		12/31/2019
	(unaudited)
Assets:
Real estate, net	$	1,205,970	$	1,204,470
Other assets	199,312		196,488
Total assets	$	1,405,282	$	1,400,958
Liabilities and partners' capital:
Mortgage notes payable, net (1)	$	781,234	$	782,257
Other liabilities	158,988		157,379
Partners' capital	465,060		461,322
Total liabilities and partners' capital	$	1,405,282	$	1,400,958

 

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(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 discussed above for the periods presented (dollars in thousands):

	For the three months ended
	3/31/2020			3/31/2019
	(unaudited)
Rental and other income	$	33,072		$	35,255
Operating and other expenses	(12,181		)	(14,204		)
Interest expense, net	(8,056		)	(8,554		)
Depreciation expense	(8,689		)	(21,696		)
Net income (loss)	$	4,146		$	(9,199	)
Company's share of net income (loss)	$	1,705		$	(528	)
Amortization of excess investment and other	(530		)	(532		)
Equity in income (loss) from unconsolidated real estate investments	$	1,175		$	(1,060	)