Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Feb. 20, 2015 | Jun. 30, 2014 |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | ISTAR FINANCIAL INC | ||
Entity Central Index Key | 1095651 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 85,374,846 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $1.20 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Real estate, at cost | $3,145,563 | $3,220,634 | ||
Less: accumulated depreciation | -468,849 | -424,453 | ||
Real estate, net | 2,676,714 | 2,796,181 | ||
Real estate available and held for sale | 285,982 | 360,517 | ||
Total real estate | 2,962,696 | 3,156,698 | ||
Loans receivable and other lending investments, net | 1,377,843 | [1] | 1,370,109 | [1] |
Other investments | 354,119 | 207,209 | ||
Cash and cash equivalents | 472,061 | 513,568 | ||
Restricted cash | 19,283 | 48,769 | ||
Accrued interest and operating lease income receivable, net | 16,367 | 14,941 | ||
Deferred operating lease income receivable | 98,262 | 92,737 | ||
Deferred expenses and other assets, net | 162,502 | 237,980 | ||
Total assets | 5,463,133 | 5,642,011 | ||
Liabilities: | ||||
Accounts payable, accrued expenses and other liabilities | 180,902 | 170,831 | ||
Debt obligations, net | 4,022,684 | 4,158,125 | ||
Total liabilities | 4,203,586 | 4,328,956 | ||
Commitments and contingencies | 0 | 0 | ||
Redeemable noncontrolling interests | 11,199 | 11,590 | ||
iStar Financial Inc. shareholders' equity: | ||||
High Performance Units | 9,800 | 9,800 | ||
Common Stock, $0.001 par value, 200,000 shares authorized, 145,807 issued and 85,191 outstanding at December 31, 2014 and 144,334 issued and 83,717 outstanding at December 31, 2013 | 146 | 144 | ||
Additional paid-in capital | 4,007,514 | 4,022,138 | ||
Retained earnings (deficit) | -2,556,469 | -2,521,618 | ||
Accumulated other comprehensive income (loss) (see Note 11) | -971 | -4,276 | ||
Treasury stock, at cost, $0.001 par value, 60,617 shares at December 31, 2014 and December 31, 2013 | -262,954 | -262,954 | ||
Total iStar Financial Inc. shareholders' equity | 1,197,092 | 1,243,260 | ||
Noncontrolling interests | 51,256 | 58,205 | ||
Total equity | 1,248,348 | 1,301,465 | ||
Total liabilities and equity | 5,463,133 | 5,642,011 | ||
Series D, E, F, G and I Preferred Stock | ||||
iStar Financial Inc. shareholders' equity: | ||||
Preferred Stock | 22 | 22 | ||
Series J convertible perpetual preferred stock | ||||
iStar Financial Inc. shareholders' equity: | ||||
Preferred Stock | $4 | $4 | ||
[1] | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Common Stock, par value (in dollars per share) | $0.00 | $0.00 | ||
Common Stock, shares authorized | 200,000,000 | 200,000,000 | ||
Common Stock, shares issued | 145,807,000 | 144,334,000 | ||
Common Stock, shares outstanding | 85,191,000 | 83,717,000 | ||
Treasury stock, par value (in dollars per share) | $0.00 | $0.00 | ||
Treasury stock, shares | 60,617,000 | 60,617,000 | ||
Series D, E, F, G and I Preferred Stock | ||||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | $25 | [1],[2] |
Series J convertible perpetual preferred stock | ||||
Liquidation Preference (in dollars per share) | $50 | [1],[2] | $50 | [1],[2] |
[1] | The Company declared and paid dividends of $8.0 million, $11.0 million, $7.8 million, $6.1 million and $9.4 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the years ended December 31, 2014 and 2013. The Company declared and paid dividends of $9.0 million and $6.7 million on its Series J Convertible Perpetual Preferred Stock during the years ended December 31, 2014 and 2013, respectively. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding. | |||
[2] | Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date. |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Revenues: | ||||||
Operating lease income | $243,100 | $234,567 | $216,291 | |||
Interest income | 122,704 | 108,015 | 133,410 | |||
Other income | 81,033 | 48,208 | 47,838 | |||
Land sales revenue | 15,191 | 0 | 0 | |||
Total revenues | 462,028 | 390,790 | 397,539 | |||
Costs and expenses: | ||||||
Interest expense | 224,483 | 266,225 | 355,097 | |||
Real estate expense | 163,389 | 157,441 | 151,458 | |||
Land cost of sales | 12,840 | 0 | 0 | |||
Depreciation and amortization | 73,571 | 71,266 | 68,770 | |||
General and administrative | 88,806 | 92,114 | 80,856 | |||
Provision for (recovery of) loan losses | -1,714 | [1] | 5,489 | [1] | 81,740 | [1] |
Impairment of assets | 34,634 | 12,589 | 13,778 | |||
Other expense | 5,821 | 8,050 | 17,266 | |||
Total costs and expenses | 601,830 | 613,174 | 768,965 | |||
Income (loss) before earnings from equity method investments and other items | -139,802 | -222,384 | -371,426 | |||
Loss on early extinguishment of debt, net | -25,369 | -33,190 | -37,816 | |||
Earnings from equity method investments | 94,905 | 41,520 | 103,009 | |||
Loss on transfer of interest to unconsolidated subsidiary | 0 | -7,373 | 0 | |||
Income (loss) from continuing operations before income taxes | -70,266 | -221,427 | -306,233 | |||
Income tax (expense) benefit | -3,912 | 659 | -8,445 | |||
Income (loss) from continuing operations | -74,178 | [2] | -220,768 | [2] | -314,678 | [2] |
Income (loss) from discontinued operations | 0 | 644 | -17,481 | |||
Gain from discontinued operations | 0 | 22,233 | 27,257 | |||
Income from sales of real estate | 89,943 | 86,658 | 63,472 | |||
Net income (loss) | 15,765 | -111,233 | -241,430 | |||
Net (income) loss attributable to noncontrolling interests | 704 | -718 | 1,500 | |||
Net income (loss) attributable to iStar Financial Inc. | 16,469 | -111,951 | -239,930 | |||
Preferred dividends | -51,320 | -49,020 | -42,320 | |||
Net (income) loss allocable to HPU holders and Participating Security holders | 1,129 | [3],[4] | 5,202 | [3],[4] | 9,253 | [3],[4] |
Net income (loss) allocable to common shareholders | ($33,722) | ($155,769) | ($272,997) | |||
Per common share data: | ||||||
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) | ($0.40) | [2] | ($2.09) | [2] | ($3.37) | [2] |
Net income (loss) attributable to iStar Financial Inc.—Basic and diluted (in dollars per share) | ($0.40) | [2] | ($1.83) | [2] | ($3.26) | [2] |
Weighted average number of common shares—Basic and diluted | 85,031 | [2] | 84,990 | [2] | 83,742 | [2] |
Per HPU share data: | ||||||
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) | ($75.27) | [2],[3] | ($396.07) | [2],[3] | ($638.27) | [2],[3] |
Net income (loss) attributable to iStar Financial Inc.—Basic and diluted (in dollars per share) | ($75.27) | [2],[3] | ($346.80) | [2],[3] | ($616.87) | [2],[3] |
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | [2],[3] | 15 | [2],[3] | 15 | [2],[3] |
[1] | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. | |||||
[2] | Income (loss) from continuing operations attributable to iStar Financial Inc. was $(73.5) million, $(221.5) million and $(313.2) million for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 13 for details on the calculation of earnings per share. | |||||
[3] | HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program. | |||||
[4] | Participating Security holders are non-employee directors who hold common stock equivalents granted under the Company's Long Term Incentive Plans that are eligible to participate in dividends (see Note 12 and Note 13). |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||
Income (loss) from continuing operations attributable to iStar Financial Inc. | ($73.50) | ($221.50) | ($313.20) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Statement of Comprehensive Income [Abstract] | ||||||
Net income (loss) | $15,765 | ($111,233) | ($241,430) | |||
Other comprehensive income (loss): | ||||||
Reclassification of (gains)/losses on available-for-sale securities into earnings upon realization | -90 | [1] | -859 | [1] | 0 | [1] |
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization | 4,116 | [2] | 310 | [2] | -44 | [2] |
Realization of (gains)/losses on cumulative translation adjustment into earnings upon realization | 968 | [3] | -1,310 | [3] | 0 | [3] |
Unrealized gains/(losses) on available-for-sale securities | 3,367 | -302 | 278 | |||
Unrealized gains/(losses) on cash flow hedges | -5,187 | -255 | -1,335 | |||
Unrealized gains/(losses) on cumulative translation adjustment | 131 | -675 | 244 | |||
Other comprehensive income (loss) | 3,305 | -3,091 | -857 | |||
Comprehensive income (loss) | 19,070 | -114,324 | -242,287 | |||
Comprehensive (income) loss attributable to noncontrolling interests | 710 | -718 | 1,500 | |||
Comprehensive income (loss) attributable to iStar Financial Inc. | $19,780 | ($115,042) | ($240,787) | |||
[1] | For the years ended December 31, 2014 and 2013, $90 and $266, respectively, are included in "Other income" on the Company's Consolidated Statements of Operations. For the year ended December 31, 2013, $593 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. | |||||
[2] | For the year ended December 31, 2014, $3,634 is included in "Other expense" on the Company's Consolidated Statements of Operations (see Note 10) and $420 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. Included in "Interest expense" on the Company's Consolidated Statements of Operations are $62, $310 and $(44) for years ended December 31, 2014, 2013 and 2012, respectively. | |||||
[3] | Included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Reclassification of (gains)/losses on available-for-sale securities into earnings upon realization | ($90,000) | [1] | ($859,000) | [1] | $0 | [1] |
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization | 4,116,000 | [2] | 310,000 | [2] | -44,000 | [2] |
Earnings from Equity Method Investments | ||||||
Reclassification of (gains)/losses on available-for-sale securities into earnings upon realization | -593,000 | |||||
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization | 420,000 | |||||
Other Income | ||||||
Reclassification of (gains)/losses on available-for-sale securities into earnings upon realization | -90,000 | -266,000 | ||||
Other Expense | ||||||
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization | 3,634,000 | |||||
Interest Expense | ||||||
Reclassification of (gains)/losses on cash flow hedges into earnings upon realization | $62,000 | $310,000 | ($44,000) | |||
[1] | For the years ended December 31, 2014 and 2013, $90 and $266, respectively, are included in "Other income" on the Company's Consolidated Statements of Operations. For the year ended December 31, 2013, $593 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. | |||||
[2] | For the year ended December 31, 2014, $3,634 is included in "Other expense" on the Company's Consolidated Statements of Operations (see Note 10) and $420 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. Included in "Interest expense" on the Company's Consolidated Statements of Operations are $62, $310 and $(44) for years ended December 31, 2014, 2013 and 2012, respectively. |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Total | Preferred Stock | Series J Preferred Stock | HPU's | Common Stock at Par | Additional Paid-In Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Treasury Stock at Cost | Noncontrolling Interests | |||
In Thousands, unless otherwise specified | |||||||||||||
Balance at Dec. 31, 2011 | $1,573,604 | $22 | [1] | $9,800 | $140 | $3,834,460 | ($2,078,397) | ($328) | ($237,341) | $45,248 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Dividends declared—preferred | -42,320 | -42,320 | |||||||||||
Repurchase of stock | -4,628 | -4,628 | |||||||||||
Issuance of stock/restricted stock unit amortization, net | 2,708 | 3 | 2,705 | ||||||||||
Net income (loss) for the period | [2] | -240,618 | -239,930 | -688 | |||||||||
Change in accumulated other comprehensive income (loss) | -857 | -857 | |||||||||||
Repurchase of convertible notes | -2,728 | -2,728 | |||||||||||
Additional paid in capital attributable to redeemable noncontrolling interest | -1,657 | -1,657 | |||||||||||
Contributions from noncontrolling interests | [3] | 32,654 | 32,654 | ||||||||||
Distributions to noncontrolling interests | -3,004 | -3,004 | |||||||||||
Balance at Dec. 31, 2012 | 1,313,154 | 22 | [1] | 9,800 | 143 | 3,832,780 | -2,360,647 | -1,185 | -241,969 | 74,210 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Issuance of Preferred Stock | 193,510 | 4 | [1] | 193,506 | |||||||||
Dividends declared—preferred | -49,020 | -49,020 | |||||||||||
Repurchase of stock | -20,985 | -20,985 | |||||||||||
Issuance of stock/restricted stock unit amortization, net | -1,375 | 1 | -1,376 | ||||||||||
Net income (loss) for the period | [2] | -108,114 | -111,951 | 3,837 | |||||||||
Change in accumulated other comprehensive income (loss) | -3,091 | -3,091 | |||||||||||
Additional paid in capital attributable to redeemable noncontrolling interest | [4] | -2,772 | -2,772 | ||||||||||
Contributions from noncontrolling interests | [5] | 10,264 | 10,264 | ||||||||||
Distributions to noncontrolling interests | [4] | -30,106 | -30,106 | ||||||||||
Balance at Dec. 31, 2013 | 1,301,465 | 22 | [1] | 4 | [1] | 9,800 | 144 | 4,022,138 | -2,521,618 | -4,276 | -262,954 | 58,205 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Dividends declared—preferred | -51,320 | -51,320 | |||||||||||
Issuance of stock/restricted stock unit amortization, net | -13,089 | 2 | -13,091 | ||||||||||
Net income (loss) for the period | [2] | 17,690 | 16,469 | 1,221 | |||||||||
Change in accumulated other comprehensive income (loss) | 3,305 | 3,305 | |||||||||||
Additional paid in capital attributable to redeemable noncontrolling interest | -1,533 | -1,533 | |||||||||||
Contributions from noncontrolling interests | 565 | 565 | |||||||||||
Distributions to noncontrolling interests | -4,820 | -4,820 | |||||||||||
Change in noncontrolling interests | [6] | -3,915 | -3,915 | ||||||||||
Balance at Dec. 31, 2014 | $1,248,348 | $22 | [1] | $4 | [1] | $9,800 | $146 | $4,007,514 | ($2,556,469) | ($971) | ($262,954) | $51,256 | |
[1] | See Note 11 for details on the Company's Cumulative Redeemable Preferred Stock. | ||||||||||||
[2] | For the years ended December 31, 2014, 2013 and 2012 net (loss) income shown above excludes $(1,925), $(3,119) and $(812) of net loss attributable to redeemable noncontrolling interests. | ||||||||||||
[3] | Includes $27.3 million of land assets contributed by a noncontrolling partner. | ||||||||||||
[4] | Includes an $8.8 million payment to redeem a noncontrolling member's interest (see Note 4). | ||||||||||||
[5] | Includes $9.4 million of operating property assets contributed by a noncontrolling partner. | ||||||||||||
[6] | During the year ended December 31, 2014, the Company sold its 72% interest in a previously consolidated entity to one of its unconsolidated ventures (see Note 4 and Note 6). |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Net loss attributable to redeemable noncontrolling interest | ($1,925,000) | ($3,119,000) | ($812,000) |
Payments for repurchase of redeemable noncontrolling interest | 8,800,000 | ||
Strategic Venture, Commercial Operating Properties | |||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | 9,400,000 | ||
Corporate Joint Venture [Member] | |||
Fair Value of assets acquired | $27,300,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Cash flows from operating activities: | ||||||
Net income (loss) | $15,765 | ($111,233) | ($241,430) | |||
Adjustments to reconcile net income (loss) to cash flows from operating activities: | ||||||
Provision for (recovery of) loan losses | -1,714 | [1] | 5,489 | [1] | 81,740 | [1] |
Impairment of assets | 34,634 | 14,507 | 38,077 | |||
Loss on transfer of interest to unconsolidated subsidiary | 0 | 7,373 | 0 | |||
Depreciation and amortization | 73,571 | 71,530 | 70,786 | |||
Payments for withholding taxes upon vesting of stock-based compensation | -21,250 | -14,098 | -12,589 | |||
Non-cash expense for stock-based compensation | 13,314 | 19,261 | 15,293 | |||
Amortization of discounts/premiums and deferred financing costs on debt | 16,891 | 20,915 | 31,981 | |||
Amortization of discounts/premiums and deferred interest on loans | -59,747 | -37,383 | -40,912 | |||
(Gain) loss from sales of loans | -19,067 | 596 | -6,367 | |||
Earnings from equity method investments | -94,905 | -41,520 | -103,009 | |||
Distributions from operations of equity method investments | 80,116 | 17,252 | 105,586 | |||
Deferred operating lease income | -8,492 | -12,077 | -11,812 | |||
Income from sales of real estate | -92,294 | -86,658 | -63,472 | |||
Gain from discontinued operations | 0 | -22,233 | -27,257 | |||
Loss on early extinguishment of debt, net | 25,369 | 19,655 | 22,405 | |||
Repayments and repurchases of debt—debt discount and prepayment penalty | -14,888 | -24,001 | -74,712 | |||
Other operating activities, net | 31,935 | 6,917 | 9,427 | |||
Changes in assets and liabilities: | ||||||
Changes in accrued interest and operating lease income receivable, net | -1,426 | 2,310 | 1,337 | |||
Changes in deferred expenses and other assets, net | 4,601 | -23,012 | 1,271 | |||
Changes in accounts payable, accrued expenses and other liabilities | 7,245 | 5,945 | 11,725 | |||
Cash flows from operating activities | -10,342 | -180,465 | -191,932 | |||
Cash flows from investing activities: | ||||||
Investment originations and fundings | -622,428 | -257,600 | -47,603 | |||
Capital expenditures on real estate assets | -142,787 | -109,403 | -83,070 | |||
Acquisitions of real estate assets | -4,666 | [2] | -102,364 | [3],[4] | -9,750 | [5] |
Repayments of and principal collections on loans | 512,528 | 613,615 | 728,657 | |||
Net proceeds from sales of loans | 65,438 | 81,614 | 56,998 | |||
Net proceeds from sales of real estate | 419,527 | 437,817 | 562,705 | |||
Net proceeds from sale of other investments | 0 | 220,281 | 0 | |||
Distributions from other investments | 61,031 | 36,918 | 78,238 | |||
Contributions to other investments | -159,424 | -12,784 | -10,640 | |||
Changes in restricted cash held in connection with investing activities | 29,283 | -19,388 | -5,127 | |||
Other investing activities, net | 1,291 | 4,741 | -3,361 | |||
Cash flows from investing activities | 159,793 | 893,447 | 1,267,047 | |||
Cash flows from financing activities: | ||||||
Borrowings from debt obligations | 1,349,822 | 1,444,565 | 3,498,794 | |||
Repayments of debt obligations | -1,471,174 | -1,984,102 | -4,608,133 | |||
Preferred dividends paid | -51,320 | -49,020 | -42,320 | |||
Proceeds from issuance of preferred stock | 0 | 193,510 | 0 | |||
Payments for deferred financing costs | -19,595 | -17,539 | -21,662 | |||
Other financing activities, net | 1,309 | -43,172 | -2,276 | |||
Cash flows from financing activities | -190,958 | -455,758 | -1,175,597 | |||
Changes in cash and cash equivalents | -41,507 | 257,224 | -100,482 | |||
Cash and cash equivalents at beginning of period | 513,568 | 256,344 | 356,826 | |||
Cash and cash equivalents at end of period | 472,061 | 513,568 | 256,344 | |||
Cash paid during the period for interest, net of amount capitalized | $194,605 | $237,457 | $329,546 | |||
[1] | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. | |||||
[2] | During the year ended December 31, 2014, the Company purchased two condominium units for $3.0 million and one land parcel for $1.7 million. | |||||
[3] | During the year ended December 31, 2013, the Company paid $8.8 million to redeem a noncontrolling member's interest. | |||||
[4] | During the year ended December 31, 2013, the Company acquired a net lease asset for a purchase price of $93.6 million, including intangible assets of $36.1 million, intangible liabilities of $11.9 million and acquisition-related costs of $0.2 million, which was leased back to the seller. The Company concluded that the transaction was a real estate asset acquisition and capitalized the acquisition-related costs. The intangible assets were included in "Deferred expenses and other assets, net" and the intangible liabilities were included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The lease was classified as an operating lease. During the year ended December 31, 2014, the net lease asset was sold to its Net Lease Venture for net proceeds of $93.7 million, which approximated carrying value. | |||||
[5] | During the year ended December 31, 2012, the Company acquired approximately 900 parking spaces adjacent to an owned property for $9.8 million. |
Business_and_Organization
Business and Organization | 12 Months Ended |
Dec. 31, 2014 | |
Business and Organization [Abstract] | |
Business and Organization | Business and Organization |
Business—iStar Financial Inc., or the "Company," is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust, or "REIT," has invested more than $35 billion over the past two decades. The Company's primary business segments are real estate finance, net lease, operating properties and land (see Note 15). | |
Organization—The Company began its business in 1993 through the management of private investment funds and became publicly traded in 1998. Since that time, the Company has grown through the origination of new investments, as well as through corporate acquisitions. |
Basis_of_Presentation_and_Prin
Basis of Presentation and Principles of Consolidation | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation | ||||||||||||
Basis of Presentation—The accompanying audited Consolidated Financial Statements have been prepared in conformity with generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Certain prior year amounts have been reclassified in the Company's Consolidated Financial Statements and the related notes to conform to the current period presentation. | |||||||||||||
During the year ended December 31, 2014, the Company determined that its classification of proceeds received from land sales for the quarterly periods ended March 31, June 30 and September 30, 2014 was incorrectly classified as a component of cash flows from operating activities rather than cash flows from investing activities. The Company evaluated the impact on the previously issued statements of cash flows for the aforementioned periods and concluded that it was not material. However, in order to correctly present such cash flows, the Company will revise the amounts as those financial statements are presented in future filings. The impact of the correction is as follows: | |||||||||||||
As Previously Reported | Change | As Revised | |||||||||||
Cash flows from operating activities: | |||||||||||||
Three months ended March 31, 2014 | $ | (60,678 | ) | $ | (4,143 | ) | $ | (64,821 | ) | ||||
Six months ended June 30, 2014 | (83,477 | ) | (8,630 | ) | (92,107 | ) | |||||||
Nine months ended September 30, 2014 | 1,570 | (11,920 | ) | (10,350 | ) | ||||||||
Cash flows from investing activities: | |||||||||||||
Three months ended March 31, 2014 | $ | 31,318 | $ | 4,143 | $ | 35,461 | |||||||
Six months ended June 30, 2014 | 58,691 | 8,630 | 67,321 | ||||||||||
Nine months ended September 30, 2014 | 295,785 | 11,920 | 307,705 | ||||||||||
Principles of Consolidation—The Consolidated Financial Statements include the financial statements of the Company, its wholly owned subsidiaries, controlled partnerships and variable interest entities ("VIEs") for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. The Company's involvement with VIEs affects its financial performance and cash flows primarily through amounts recorded in "Operating lease income," "Earnings from equity method investments," "Real estate expense" and "Interest expense" in the Company's Consolidated Statements of Operations. The Company has not provided financial support to those VIEs that it was not previously contractually required to provide. | |||||||||||||
Consolidated VIEs—As of December 31, 2014, the Company consolidated 4 VIEs for which it is considered the primary beneficiary. At December 31, 2014, the total assets of these consolidated VIEs were $156.3 million and total liabilities were $10.3 million. The classifications of these assets are primarily within "Real estate, net" and "Other investments" on the Company's Consolidated Balance Sheets. The classifications of liabilities are primarily within "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The liabilities of these VIEs are non-recourse to the Company and can only be satisfied from each VIE's respective assets. The Company's total unfunded commitments related to consolidated VIEs was $38.8 million as of December 31, 2014. | |||||||||||||
Unconsolidated VIEs—As of December 31, 2014, 26 of the Company's investments were in VIEs where it is not the primary beneficiary and accordingly the VIEs have not been consolidated in the Company's Consolidated Financial Statements. As of December 31, 2014, the Company's maximum exposure to loss from these investments does not exceed the sum of the $177.3 million carrying value of the investments, which are classified in "Other investments" on the Company's Consolidated Balance Sheets, and $20.5 million of related unfunded commitments. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies | |||||||||||
Real estate—Real estate assets are recorded at cost less accumulated depreciation and amortization, as follows: | ||||||||||||
Capitalization and depreciation—Certain improvements and replacements are capitalized when they extend the useful life of the asset. For real estate projects, the Company begins to capitalize qualified development and construction costs, including interest, real estate taxes, compensation and certain other carrying costs incurred which are specifically identifiable to a development project once activities necessary to get the asset ready for its intended use have commenced. If specific allocation of costs is not practicable, the Company will allocate costs based on relative fair value prior to construction or relative sales value, relative size or other value methods as appropriate during construction. The Company ceases capitalization on the portions substantially completed and ready for their intended use. Repairs and maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method of cost recovery over the estimated useful life, which is generally 40 years for facilities, five years for furniture and equipment, the shorter of the remaining lease term or expected life for tenant improvements and the remaining useful life of the facility for facility improvements. | ||||||||||||
Purchase price allocation—Upon acquisition of real estate, the Company determines whether the transaction is a business combination, which is accounted for under the acquisition method, or an acquisition of assets. For both types of transactions, the Company recognizes and measures identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree based on their relative fair values. For business combinations, the Company recognizes and measures goodwill or gain from a bargain purchase, if applicable, and expenses acquisition-related costs in the periods in which the costs are incurred and the services are received. For acquisitions of assets, acquisition-related costs are capitalized and recorded in "Real estate, net" on the Company's Consolidated Balance Sheets. | ||||||||||||
The Company accounts for its acquisition of properties by recording the purchase price of tangible and intangible assets and liabilities acquired based on their estimated fair values. The value of the tangible assets, consisting of land, buildings, building improvements and tenant improvements is determined as if these assets are vacant. Intangible assets may include the value of above-market leases, in-place leases and the value of customer relationships, which are each recorded at their estimated fair values and included in “Deferred expenses and other assets, net” on the Company's Consolidated Balance Sheets. Intangible liabilities may include the value of below-market leases, which are recorded at their estimated fair values and included in “Accounts payable, accrued expenses and other liabilities” on the Company's Consolidated Balance Sheets. In-place leases and customer relationships are amortized over the remaining non-cancelable term and the amortization expense is included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations. The capitalized above-market (or below-market) lease value is amortized as a reduction of (or, increase to) operating lease income over the remaining non-cancelable term of each lease plus any renewal periods with fixed rental terms that are considered to be below-market. The Company also engages in sale/leaseback transactions and typically executes leases with the occupant simultaneously with the purchase of the net lease asset. | ||||||||||||
Impairments—The Company reviews long-lived assets to be held and used, for impairment in value whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The value of a long-lived asset held for use is impaired only if management's estimate of the aggregate future cash flows (undiscounted and without interest charges) to be generated by the asset (taking into account the anticipated holding period of the asset) is less than the carrying value. Such estimate of cash flows considers factors such as expected future operating income trends, as well as the effects of demand, competition and other economic factors. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount of the property over the estimated fair value of the asset and reflected as an adjustment to the basis of the asset. Impairments of real estate assets that are not held for sale are recorded in "Impairment of assets" on the Company's Consolidated Statements of Operations. Impairments of real estate assets that are disposed of or classified as held for sale after December 31, 2013 and which do not represent a strategic shift that has (or will have) a major effect on the Company's operations and financial results are also recorded in "Impairments of assets" on the Company's Consolidated Statements of Operations. | ||||||||||||
Real estate available and held for sale—The Company reports real estate assets to be sold at the lower of their carrying amount or estimated fair value less costs to sell and classifies them as “Real estate available and held for sale” on the Company's Consolidated Balance Sheets. If the estimated fair value less costs to sell is less than the carrying value, the difference will be recorded as an impairment charge. Impairment for real estate assets sold or classified as held for sale on or before December 31, 2013 are included in "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations. Impairment for real estate assets disposed of or classified as held for sale after December 31, 2013 are included in "Impairment of assets" on the Company's Consolidated Statements of Operations. Once a real estate asset is classified as held for sale and represents a strategic shift, depreciation expense is no longer recorded and historical operating results, including impairments, are reclassified to "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations. | ||||||||||||
If circumstances arise that were previously considered unlikely and, as a result the Company decides not to sell a property previously classified as held for sale, the property is reclassified as held and used and included in "Real estate, net" on the Company's Consolidated Balance Sheets. The Company measures and records a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used, or (ii) the estimated fair value at the date of the subsequent decision not to sell. | ||||||||||||
The Company reports residential property units to be disposed of at the lower of their carrying amount or estimated fair value less costs to sell and classifies them as “Real estate available and held for sale” on the Company's Consolidated Balance Sheets. If the estimated fair value less costs to sell is less than the carrying value, the difference will be recorded as an impairment charge and included in “Impairment of assets” on the Company's Consolidated Statements of Operations. The net carrying costs for residential property units are recorded in “Real estate expense” on the Company's Consolidated Statements of Operations. | ||||||||||||
Dispositions—Revenue from sales of land and gains or losses on the sale of other real estate assets, including residential property, are recognized in accordance with Accounting Standards Codification ("ASC") 360-20, Real Estate Sales. Sales of land and the associated gains on sales for residential property are recognized for full profit recognition upon closing of the sale transactions, when the profit is determinable, the earnings process is virtually complete, the parties are bound by the terms of the contract, all consideration has been exchanged, any permanent financing for which the seller is responsible has been arranged and all conditions for closing have been performed. The Company primarily uses specific identification and the relative sales value method to allocate costs. Revenues from sales of land are included in "Land sales revenue" and costs of land sales are included in "Land cost of sales" on the Company’s Consolidated Statements of Operations. Gains on sales of net lease assets or commercial operating properties disposed of or classified as held for sale on or before December 31, 2013 are recorded in “Gains from discontinued operations” on the Company's Consolidated Statements of Operations. Gain on sales of net lease assets or commercial operating properties disposed of or classified as held for sale after December 31, 2013 and profits on sales of residential property within the operating property segment are included in "Income from sales of real estate" on the Company's Consolidated Statements of Operations. | ||||||||||||
Loans receivable and other lending investments, net—Loans receivable and other lending investments, net includes the following investments: senior mortgages, subordinate mortgages, corporate/partnership loans, preferred equity investments and debt securities. Management considers nearly all of its loans to be held-for-investment, although certain investments may be classified as held-for-sale or available-for-sale. | ||||||||||||
Loans receivable classified as held-for-investment and debt securities classified as held-to-maturity are reported at their outstanding unpaid principal balance, and include unamortized acquisition premiums or discounts and unamortized deferred loan costs or fees. These loans and debt securities also include accrued and paid-in-kind interest and accrued exit fees that the Company determines are probable of being collected. Debt securities classified as available-for-sale are reported at fair value with unrealized gains and losses included in "Accumulated other comprehensive income (loss)" on the Company's Consolidated Balance Sheets. | ||||||||||||
Loans receivable and other lending investments designated for sale are classified as held-for-sale and are carried at lower of amortized historical cost or estimated fair value. The amount by which carrying value exceeds fair value is recorded as a valuation allowance. Subsequent changes in the valuation allowance are included in the determination of net income (loss) in the period in which the change occurs. | ||||||||||||
For held-to-maturity and available-for-sale debt securities held in "Loans receivable and other lending investments, net," management evaluates whether the asset is other-than-temporarily impaired when the fair market value is below carrying value. The Company considers debt securities other-than-temporarily impaired if (1) the Company has the intent to sell the security, (2) it is more likely than not that it will be required to sell the security before recovery, or (3) it does not expect to recover the entire amortized cost basis of the security. If it is determined that an other-than-temporary impairment exists, the portion related to credit losses, where the Company does not expect to recover its entire amortized cost basis, will be recognized as an "Impairment of assets" on the Company's Consolidated Statements of Operations. If the Company does not intend to sell the security and it is more likely than not that the entity will not be required to sell the security, but the security has suffered a credit loss, the impairment charge will be separated. The credit loss component of the impairment will be recorded as an "Impairment of assets" on the Company's Consolidated Statements of Operations, and the remainder will be recorded in "Accumulated other comprehensive income (loss)" on the Company's Consolidated Balance Sheets. | ||||||||||||
The Company acquires properties through foreclosure or by deed-in-lieu of foreclosure in full or partial satisfaction of non-performing loans. Based on the Company's strategic plan to realize the maximum value from the collateral received, property is classified as "Real estate, net" or "Real estate available and held for sale" at its estimated fair value when title to the property is obtained. Any excess of the carrying value of the loan over the estimated fair value of the property (less costs to sell for assets held for sale) is charged-off against the reserve for loan losses as of the date of foreclosure. | ||||||||||||
Equity and cost method investments—Equity interests are accounted for pursuant to the equity method of accounting if the Company can significantly influence the operating and financial policies of an investee. This is generally presumed to exist when ownership interest is between 20% and 50% of a corporation, or greater than 5% of a limited partnership or certain limited liability companies. The Company's periodic share of earnings and losses in equity method investees is included in "Earnings from equity method investments" on the Consolidated Statements of Operations. When the Company's ownership position is too small to provide such influence, the cost method is used to account for the equity interest. Equity and cost method investments are included in "Other investments" on the Company's Consolidated Balance Sheets. | ||||||||||||
To the extent that the Company contributes assets to an unconsolidated subsidiary, the Company’s investment in the subsidiary is recorded at the Company’s cost basis in the assets that were contributed to the unconsolidated subsidiary. To the extent that the Company’s cost basis is different from the basis reflected at the subsidiary level, when required, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in net income (loss) of the unconsolidated subsidiary, as appropriate. The Company recognizes gains on the contribution of real estate to unconsolidated subsidiaries, relating solely to the outside partner’s interest, to the extent the economic substance of the transaction is a sale. The Company recognizes a loss when it contributes property to an unconsolidated subsidiary and receives a disproportionately small interest in the subsidiary based on a comparison of the carrying amount of the property with the cash and other consideration contributed by the other investors. | ||||||||||||
The Company periodically reviews equity method investments for impairment in value whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. The Company will record an impairment charge to the extent that the estimated fair value of an investment is less than its carrying value and the Company determines the impairment is other-than-temporary. Impairment charges are recorded in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. | ||||||||||||
Cash and cash equivalents—Cash and cash equivalents include cash held in banks or invested in money market funds with original maturity terms of less than 90 days. | ||||||||||||
Restricted cash—Restricted cash represents amounts required to be maintained under certain of the Company's debt obligations, loans, leasing, land development, sale and derivative transactions. | ||||||||||||
Variable interest entities—The Company evaluated its investments and other contractual arrangements to determine if they constitute variable interests in a VIE. A VIE is an entity where a controlling financial interest is achieved through means other than voting rights. A VIE is consolidated by the primary beneficiary, which is the party that has the power to direct matters that most significantly impact the activities of the VIE and has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. This overall consolidation assessment includes a review of, among other factors, which interests create or absorb variability, contractual terms, the key decision making powers, their impact on the VIE's economic performance, and related party relationships. Where qualitative assessment is not conclusive, the Company performs a quantitative analysis. The Company reassesses its evaluation of the primary beneficiary of a VIE on an ongoing basis and assesses its evaluation of an entity as a VIE upon certain reconsideration events. | ||||||||||||
The Company has investments in certain funds that meet the deferral criteria in Accounting Standards Update ("ASU") 2010-10 and will continue to assess consolidation of these entities under the overall guidance on the consolidation of VIEs in ASC 810-10. The consolidation evaluation is similar to the process noted above, except that the primary beneficiary is the party that will receive a majority of the VIE's anticipated losses, a majority of the VIE's expected residual returns, or both. In addition, for entities that meet the deferral criteria, the Company reassesses its initial evaluation of the primary beneficiary and whether an entity is a VIE upon the occurrence of certain reconsideration events. | ||||||||||||
Deferred expenses—Deferred expenses include leasing costs and financing fees. Leasing costs include brokerage, legal and other costs which are amortized over the life of the respective leases. External fees and costs incurred to obtain long-term financing have been deferred and are amortized over the term of the respective borrowing using the effective interest method. Amortization of leasing costs is included in "Depreciation and amortization" and amortization of deferred financing fees is included in "Interest expense" on the Company's Consolidated Statements of Operations. | ||||||||||||
Identified intangible assets and liabilities—Upon the acquisition of a business, the Company records intangible assets or liabilities acquired at their estimated fair values and determines whether such intangible assets or liabilities have finite or indefinite lives. As of December 31, 2014, all such intangible assets and liabilities acquired by the Company have finite lives. Intangible assets are included in "Deferred expenses and other assets, net" and intangible liabilities are included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The Company amortizes finite lived intangible assets and liabilities based on the period over which the assets are expected to contribute directly or indirectly to the future cash flows of the business acquired. The Company reviews finite lived intangible assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. If the Company determines the carrying value of an intangible asset is not recoverable it will record an impairment charge to the extent its carrying value exceeds its estimated fair value. Impairments of intangible assets are recorded in "Impairment of assets" on the Company's Consolidated Statements of Operations. | ||||||||||||
Revenue recognition—The Company's revenue recognition policies are as follows: | ||||||||||||
Operating lease income: The Company's leases have all been determined to be operating leases based on an analysis performed in accordance with ASC 840. Operating lease income is recognized on the straight-line method of accounting, generally from the later of the date the lessee takes possession of the space and it is ready for its intended use or the date of acquisition of the facility subject to existing leases. Accordingly, contractual lease payment increases are recognized evenly over the term of the lease. The periodic difference between lease revenue recognized under this method and contractual lease payment terms is recorded as "Deferred operating lease income receivable," on the Company's Consolidated Balance Sheets. | ||||||||||||
The Company also recognizes revenue from certain tenant leases for reimbursements of all or a portion of operating expenses, including common area costs, insurance, utilities and real estate taxes of the respective property. This revenue is accrued in the same periods as the expense is incurred and is recorded as “Operating lease income” on the Company's Consolidated Statements of Operations. Revenue is also recorded from certain tenant leases that is contingent upon tenant sales exceeding defined thresholds. These rents are recognized only after the defined threshold has been met for the period. | ||||||||||||
Management estimates losses within its operating lease income receivable and deferred operating lease income receivable balances as of the balance sheet date and incorporates an asset-specific component, as well as a general, formula-based reserve based on management's evaluation of the credit risks associated with these receivables. As of December 31, 2014 and 2013, the allowance for doubtful accounts related to real estate tenant receivables was $1.3 million and $3.4 million, respectively, and the allowance for doubtful accounts related to deferred operating lease income was $2.4 million and $2.4 million, respectively. | ||||||||||||
Interest Income: Interest income on loans receivable is recognized on an accrual basis using the interest method. | ||||||||||||
On occasion, the Company may acquire loans at premiums or discounts. These discounts and premiums in addition to any deferred costs or fees, are typically amortized over the contractual term of the loan using the interest method. Exit fees are also recognized over the lives of the related loans as a yield adjustment, if management believes it is probable that such amounts will be received. If loans with premiums, discounts, loan origination or exit fees are prepaid, the Company immediately recognizes the unamortized portion, which is included in "Other income" or "Other expense" on the Company's Consolidated Statements of Operations. | ||||||||||||
The Company considers a loan to be non-performing and places loans on non-accrual status at such time as: (1) the loan becomes 90 days delinquent; (2) the loan has a maturity default; or (3) management determines it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan. While on non-accrual status, based on the Company's judgment as to collectability of principal, loans are either accounted for on a cash basis, where interest income is recognized only upon actual receipt of cash, or on a cost-recovery basis, where all cash receipts reduce a loan's carrying value. Non-accrual loans are returned to accrual status when a loan has become contractually current and management believes all amounts contractually owed will be received. | ||||||||||||
Certain of the Company's loans contractually provide for accrual of interest at specified rates that differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest and outstanding principal are ultimately collectible, based on the underlying collateral and operations of the borrower. | ||||||||||||
Prepayment penalties or yield maintenance payments from borrowers are recognized as additional income when received. Certain of the Company's loan investments provide for additional interest based on the borrower's operating cash flow or appreciation of the underlying collateral. Such amounts are considered contingent interest and are reflected as interest income only upon receipt of cash. | ||||||||||||
Other income: Other income includes revenues from hotel operations, which are recognized when rooms are occupied and the related services are provided. Revenues include room sales, food and beverage sales, parking, telephone, spa services and gift shop sales. Other income also includes gains from sales of loans, lease termination fees and other ancillary income. | ||||||||||||
Reserve for loan losses—The reserve for loan losses reflects management's estimate of loan losses inherent in the loan portfolio as of the balance sheet date. If the Company determines that the collateral value is less than the carrying value of a collateral-dependent loan, the Company will record a reserve. The reserve is increased (decreased) through "Provision for (recovery of) loan losses" on the Company's Consolidated Statements of Operations and is decreased by charge-offs. During delinquency and the foreclosure process, there are typically numerous points of negotiation with the borrower as the Company works toward a settlement or other alternative resolution, which can impact the potential for loan repayment or receipt of collateral. The Company's policy is to charge off a loan when it determines, based on a variety of factors, that all commercially reasonable means of recovering the loan balance have been exhausted. This may occur at different times, including when the Company receives cash or other assets in a pre-foreclosure sale or takes control of the underlying collateral in full satisfaction of the loan upon foreclosure or deed-in-lieu, or when the Company has otherwise ceased significant collection efforts. The Company considers circumstances such as the foregoing to be indicators that the final steps in the loan collection process have occurred and that a loan is uncollectible. At this point, a loss is confirmed and the loan and related reserve will be charged off. The Company has one portfolio segment, represented by commercial real estate lending, whereby it utilizes a uniform process for determining its reserve for loan losses. The reserve for loan losses includes a general, formula-based component and an asset-specific component. | ||||||||||||
The general reserve component covers performing loans and reserves for loan losses are recorded when (i) available information as of each balance sheet date indicates that it is probable a loss has occurred in the portfolio and (ii) the amount of the loss can be reasonably estimated. The formula-based general reserve is derived from estimated principal default probabilities and loss severities applied to groups of loans based upon risk ratings assigned to loans with similar risk characteristics during the Company's quarterly loan portfolio assessment. During this assessment, the Company performs a comprehensive analysis of its loan portfolio and assigns risk ratings to loans that incorporate management's current judgments about their credit quality based on all known and relevant internal and external factors that may affect collectability. The Company considers, among other things, payment status, lien position, borrower financial resources and investment in collateral, collateral type, project economics and geographical location as well as national and regional economic factors. This methodology results in loans being segmented by risk classification into risk rating categories that are associated with estimated probabilities of default and principal loss. Ratings range from "1" to "5" with "1" representing the lowest risk of loss and "5" representing the highest risk of loss. The Company estimates loss rates based on historical realized losses experienced within its portfolio and takes into account current economic conditions affecting the commercial real estate market when establishing appropriate time frames to evaluate loss experience. | ||||||||||||
The asset-specific reserve component relates to reserves for losses on impaired loans. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. This assessment is made on a loan-by-loan basis each quarter based on such factors as payment status, lien position, borrower financial resources and investment in collateral, collateral type, project economics and geographical location as well as national and regional economic factors. A reserve is established for an impaired loan when the present value of payments expected to be received, observable market prices, or the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) is lower than the carrying value of that loan. | ||||||||||||
Substantially all of the Company's impaired loans are collateral dependent and impairment is measured using the estimated fair value of collateral, less costs to sell. The Company generally uses the income approach through internally developed valuation models to estimate the fair value of the collateral for such loans. In more limited cases, the Company obtains external "as is" appraisals for loan collateral, generally when third party participations exist. Valuations are performed or obtained at the time a loan is determined to be impaired and designated non-performing, and they are updated if circumstances indicate that a significant change in value has occurred. In limited cases, appraised values may be discounted when real estate markets rapidly deteriorate. | ||||||||||||
A loan is also considered impaired if its terms are modified in a troubled debt restructuring ("TDR"). A TDR occurs when the Company has granted a concession and the debtor is experiencing financial difficulties. Impairments on TDR loans are generally measured based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. | ||||||||||||
Loss on debt extinguishments—The Company recognizes the difference between the reacquisition price of debt and the net carrying amount of extinguished debt currently in earnings. Such amounts may include prepayment penalties or the write-off of unamortized debt issuance costs, and are recorded in “Loss on early extinguishment of debt, net” on the Company's Consolidated Statements of Operations. | ||||||||||||
Derivative instruments and hedging activity—The Company's use of derivative financial instruments is primarily limited to the utilization of interest rate swaps, interest rate caps or other instruments to manage interest rate risk exposure and foreign exchange contracts to manage our risk to changes in foreign currencies. | ||||||||||||
The Company recognizes derivatives as either assets or liabilities on the Company's Consolidated Balance Sheets at fair value. If certain conditions are met, a derivative may be specifically designated as a hedge of the exposure to changes in the fair value of a recognized asset or liability, a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. | ||||||||||||
For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of Accumulated Other Comprehensive Income into earnings when the hedged net investment is either sold or substantially liquidated. | ||||||||||||
Derivatives that are not designated hedges are considered economic hedges, with changes in fair value reported in current earnings in "Other expense" on the Company's Consolidated Statements of Operations. The Company does not enter into derivatives for trading purposes. | ||||||||||||
Stock-based compensation—Compensation cost for stock-based awards is measured on the grant date and adjusted over the period of the employees' services to reflect (i) actual forfeitures and (ii) the outcome of awards with performance or service conditions through the requisite service period. The Company recognizes compensation cost for performance-based awards if and when the Company concludes that it is probable that the performance condition will be achieved. Compensation cost for market condition-based awards is determined using a Monte Carlo model to simulate a range of possible future stock prices for the Company's Common Stock, which is reflected in the grant date fair value. All compensation cost for market-condition based awards in which the service conditions are met is recognized regardless of whether the market condition is satisfied. Compensation costs are recognized ratably over the applicable vesting/service period and recorded in "General and administrative" on the Company's Consolidated Statements of Operations. | ||||||||||||
Income taxes—The Company has elected to be qualified and taxed as a REIT under section 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is subject to federal income taxation at corporate rates on its REIT taxable income, however, the Company is allowed a deduction for the amount of dividends paid to its shareholders, thereby subjecting the distributed net income of the Company to taxation at the shareholder level only. While it must distribute at least 90% of its taxable income in order to maintain its REIT status, the Company typically distributes all of its taxable income, if any, in order to minimize any tax on undistributed taxable income. In addition, the Company is allowed several other deductions in computing its REIT taxable income, including non-cash items such as depreciation expense and certain specific reserve amounts that the Company deems to be uncollectable. These deductions allow the Company to reduce its dividend payout requirement under federal tax laws. In addition, the Company has made foreclosure elections for certain properties acquired through foreclosure which allows the Company to operate these properties within the REIT but subjects them to certain tax obligations. The carrying value of assets with foreclosure elections as of December 31, 2014 is $909.3 million. The Company intends to operate in a manner consistent with, and its election to be treated as, a REIT for tax purposes. As of December 31, 2013, the Company had $759.8 million of net operating loss carryforwards at the corporate REIT level, which can generally be used to offset both ordinary and capital taxable income in future years and will expire through 2033 if unused. The amount of net operating loss carryforwards as of December 31, 2014 will be subject to finalization of the Company's 2014 tax return. During the year ended December 31, 2014, the Company did not have REIT taxable income. The Company recognizes interest expense and penalties related to uncertain tax positions, if any, as "Income tax (expense) benefit" on the Company's Consolidated Statements of Operations. | ||||||||||||
The Company can participate in certain activities from which it would be otherwise precluded in order to maintain its qualification as a REIT, as long as these activities are conducted in entities which elect to be treated as taxable subsidiaries under the Code, subject to certain limitations. As such, the Company, through its taxable REIT subsidiaries ("TRSs"), is engaged in various real estate related opportunities, primarily related to managing activities related to certain foreclosed assets, as well as managing various investments in equity affiliates. As of December 31, 2014, $541.7 million of the Company's assets were owned by TRS entities. The Company's TRS entities are not consolidated for federal income tax purposes and are taxed as corporations. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in TRS entities. | ||||||||||||
The following represents the Company's TRS income tax expense ($ in thousands): | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current tax (expense) benefit | $ | (3,912 | ) | $ | 659 | $ | (8,445 | ) | ||||
Deferred tax (expense) benefit | — | — | — | |||||||||
Total income tax (expense) benefit | $ | (3,912 | ) | $ | 659 | $ | (8,445 | ) | ||||
During the year ended December 31, 2014, the Company's TRS entities generated taxable income of $19.3 million, which was partially offset by the utilization of net operating loss carryforwards, resulting in a current tax expense of $3.9 million. During the year ended December 31, 2013, the Company's TRS entities generated taxable loss of $1.8 million, which was partially offset by the utilization of net operating loss carryforwards, resulting in current tax benefit of $0.7 million. During the year ended December 31, 2012, the Company's TRS entities generated taxable income of $42.2 million, which was partially offset by the utilization of net operating loss carryforwards, resulting in a current tax expense of $8.4 million. | ||||||||||||
Total cash paid for taxes for the years ended December 31, 2014, 2013 and 2012 was $1.3 million, $9.2 million and $5.5 million, respectively. | ||||||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as operating loss and tax credit carryforwards. The Company evaluates the realizability of its deferred tax assets and recognizes a valuation allowance if, based on the available evidence, both positive and negative, it is more likely than not that some portion or all of its deferred tax assets will not be realized. When evaluating the realizability of its deferred tax assets, the Company considers, among other matters, estimates of expected future taxable income, nature of current and cumulative losses, existing and projected book/tax differences, tax planning strategies available, and the general and industry specific economic outlook. This realizability analysis is inherently subjective, as it requires the Company to forecast its business and general economic environment in future periods. Based on an assessment of all factors, including historical losses and continued volatility of the activities within the TRS entities, it was determined that full valuation allowances were required on the net deferred tax assets as of December 31, 2014 and 2013, respectively. Changes in estimates of deferred tax asset realizability, if any, are included in "Income tax (expense) benefit" on the Consolidated Statements of Operations. | ||||||||||||
Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands): | ||||||||||||
As of December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets(1) | $ | 54,318 | $ | 55,962 | ||||||||
Valuation allowance | (54,318 | ) | (55,962 | ) | ||||||||
Net deferred tax assets (liabilities) | $ | — | $ | — | ||||||||
Explanatory Note: | ||||||||||||
_______________________________________________________________________________ | ||||||||||||
-1 | Deferred tax assets as of December 31, 2014 include timing differences related primarily to real estate basis of $39.3 million, investment basis of $5.9 million and net operating loss carryforwards of $4.1 million. Deferred tax assets as of December 31, 2013, include timing differences related to real estate basis of $33.0 million, investment basis of $8.1 million, and net operating loss carryforwards of $14.9 million. | |||||||||||
Earnings per share—The Company uses the two-class method in calculating EPS when it issues securities other than common stock that contractually entitle the holder to participate in dividends and earnings of the Company when, and if, the Company declares dividends on its common stock. Vested HPU shares are entitled to dividends of the Company when dividends are declared. Basic earnings per share ("Basic EPS") for the Company's Common Stock and HPU shares are computed by dividing net income allocable to common shareholders and HPU holders by the weighted average number of shares of Common Stock and HPU shares outstanding for the period, respectively. Diluted earnings per share ("Diluted EPS") is calculated similarly, however, it reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower earnings per share amount. | ||||||||||||
Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are deemed a "Participating Security" and are included in the computation of earnings per share pursuant to the two-class method. The Company's common stock equivalents granted under its Long-Term Incentive Plans that are eligible to participate in dividends are considered Participating Securities and have been included in the two-class method when calculating EPS. | ||||||||||||
New accounting pronouncements—In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"). This guidance requires disposals of a component of an entity or group of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results to be reported as discontinued operations. Assets and liabilities of a disposal group that includes a discontinued operation must be presented separately in asset and liability sections, respectively, of the Company's Consolidated Balance Sheets for each comparative period. Expanded disclosures about the assets, liabilities, revenues and expenses of discontinued operations are also required. For individually significant disposals that do not qualify as discontinued operations, disclosure of pre-tax income is required. ASU 2014-08 is effective for interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted for disposals (or classifications as held for sale) that have not been reported in previously-issued financial statements. The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013. | ||||||||||||
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") which supersedes existing industry-specific guidance, including ASC 360-20, Real Estate Sales. The new standard is principles-based and requires more estimates and judgment than current guidance. Certain contracts with customers, including lease contracts and financial instruments and other contractual rights, are not within the scope of the new guidance. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. Management is evaluating the impact of the guidance on the Company's Consolidated Financial Statements. | ||||||||||||
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12") which requires a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition in accordance with Topic 718, Compensation—Stock Compensation. ASU 2014-12 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | ||||||||||||
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ("ASU 2014-15") which requires management to evaluate whether there is substantial doubt that the Company is able to continue operating as a going concern within one year after the date the financial statements are issued or available to be issued. If there is substantial doubt, additional disclosure is required, including the principal condition or event that raised the substantial doubt, the Company's evaluation of the condition or event in relation to its ability to meet its obligations and the Company's plan to alleviate (or, which is intended to alleviate) the substantial doubt. ASU 2014-15 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | ||||||||||||
In November 2014, the FASB issued ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16") which eliminates the diversity in practice for the accounting for hybrid financial instruments issued in the form of a share. ASU 2014-16 requires management to consider all terms and features, whether stated or implied, of a hybrid instrument when determining whether the nature of the instrument is more akin to a debt instrument or an equity instrument. Embedded derivative features, which are accounted for separately from host contracts, should also be considered in the analysis of the hybrid instrument. ASU 2014-16 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | ||||||||||||
In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis ("ASU 2015-02") which updates the consolidation model for limited partnerships and similar legal entities. ASU 2015-02 includes the evaluation of fees paid to a decision maker as a variable interest and amends the effect of fee arrangements and related parties on the primary beneficiary determination. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is evaluating the impact of the guidance on the Company's Consolidated Financial Statements. |
Real_Estate
Real Estate | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Real Estate [Abstract] | ||||||||||||||||
Real Estate | Real Estate | |||||||||||||||
The Company's real estate assets were comprised of the following ($ in thousands): | ||||||||||||||||
Net Lease | Operating | Land | Total | |||||||||||||
Properties | ||||||||||||||||
As of December 31, 2014 | ||||||||||||||||
Land and land improvements | $ | 311,890 | $ | 146,417 | $ | 868,650 | $ | 1,326,957 | ||||||||
Buildings and improvements | 1,240,593 | 578,013 | — | 1,818,606 | ||||||||||||
Less: accumulated depreciation and amortization | (364,323 | ) | (96,159 | ) | (8,367 | ) | (468,849 | ) | ||||||||
Real estate, net | 1,188,160 | 628,271 | 860,283 | 2,676,714 | ||||||||||||
Real estate available and held for sale | 4,521 | 162,782 | 118,679 | 285,982 | ||||||||||||
Total real estate | $ | 1,192,681 | $ | 791,053 | $ | 978,962 | $ | 2,962,696 | ||||||||
As of December 31, 2013 | ||||||||||||||||
Land and land improvements | $ | 350,817 | $ | 132,934 | $ | 803,238 | $ | 1,286,989 | ||||||||
Buildings and improvements | 1,346,071 | 587,574 | — | 1,933,645 | ||||||||||||
Less: accumulated depreciation and amortization | (338,640 | ) | (82,420 | ) | (3,393 | ) | (424,453 | ) | ||||||||
Real estate, net | 1,358,248 | 638,088 | 799,845 | 2,796,181 | ||||||||||||
Real estate available and held for sale | — | 228,328 | 132,189 | 360,517 | ||||||||||||
Total real estate | $ | 1,358,248 | $ | 866,416 | $ | 932,034 | $ | 3,156,698 | ||||||||
Real Estate Available and Held for Sale—As of December 31, 2014 and 2013 the Company had $155.8 million and $221.0 million, respectively, of residential properties available for sale in its operating properties portfolio. | ||||||||||||||||
During the year ended December 31, 2014, the Company reclassified land with a carrying value of $6.5 million from held for sale to held for investment due to a change in the Company's strategy and its plan to re-entitle the property. The asset is included in "Real estate, net" on the Company's Consolidated Balance Sheets. There were no operations to reclassify on the Company's Consolidated Statements of Operations as a result of this change. During the same period, the Company reclassified units with a carrying value of $56.7 million to held for sale due to the conversion of hotel rooms to residential units to be sold. The Company also reclassified net lease assets with a carrying value of $4.0 million to held for sale due to executed contracts with third parties. | ||||||||||||||||
During the year ended December 31, 2013, the Company reclassified two land properties with a carrying value of $49.7 million from held for sale to held for investment due to changes in the Company's business plan for the properties. These assets are included in "Real estate, net" on the Company's Consolidated Balance Sheets. There were no operations to reclassify on the Company's Consolidated Statement of Operations as a result of this change. During the same period, the Company reclassified three land assets with a carrying value of $31.8 million and a net lease asset with a carrying value of $9.8 million to held for sale due to executed contracts with third parties. The net lease asset was disposed of for a gain of $3.6 million during the year ended December 31, 2013. The gain was recorded in "Gain from discontinued operations" on the Company's Consolidated Statements of Operations. The results of operations for the net lease assets that were reclassified are included in "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations for all periods presented (see table in "Discontinued Operations" below). The three land properties were sold during the year ended December 31, 2013 for a gain of $0.6 million. These gains were recorded in "Income from sales of real estate" on the Company's Consolidated Statements of Operations. | ||||||||||||||||
Acquisitions—The following acquisitions of real estate were reflected in the Company's Consolidated Statements of Cash Flows for the years ended December 31, 2014, 2013 and 2012 ($ in thousands): | ||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2014(1) | 2013(2)(3) | 2012(4) | ||||||||||||||
Acquisitions of real estate assets | $ | 4,666 | $ | 102,364 | $ | 9,750 | ||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | During the year ended December 31, 2014, the Company purchased two condominium units for $3.0 million and one land parcel for $1.7 million. | |||||||||||||||
-2 | During the year ended December 31, 2013, the Company acquired a net lease asset for a purchase price of $93.6 million, including intangible assets of $36.1 million, intangible liabilities of $11.9 million and acquisition-related costs of $0.2 million, which was leased back to the seller. The Company concluded that the transaction was a real estate asset acquisition and capitalized the acquisition-related costs. The intangible assets were included in "Deferred expenses and other assets, net" and the intangible liabilities were included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The lease was classified as an operating lease. During the year ended December 31, 2014, the net lease asset was sold to its Net Lease Venture for net proceeds of $93.7 million, which approximated carrying value. | |||||||||||||||
-3 | During the year ended December 31, 2013, the Company paid $8.8 million to redeem a noncontrolling member's interest. | |||||||||||||||
-4 | During the year ended December 31, 2012, the Company acquired approximately 900 parking spaces adjacent to an owned property for $9.8 million. | |||||||||||||||
During the year ended December 31, 2014, the Company acquired, via deed-in-lieu, title to three commercial operating properties and a land asset, which had a total fair value of $77.9 million and previously served as collateral for loans receivable held by the Company. No gain or loss was recorded in connection with these transactions. The following unaudited table summarizes the Company's pro forma revenues and net income for the years ended December 31, 2014 and 2013, as if the acquisition of these properties acquired during the year ended December 31, 2014 was completed on January 1, 2013 ($ in thousands): | ||||||||||||||||
For the Years Ended | ||||||||||||||||
December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Pro forma total revenues | $ | 466,327 | $ | 399,885 | ||||||||||||
Pro forma net income (loss) | (245 | ) | (112,355 | ) | ||||||||||||
From the date of acquisition in May 2014 through December 31, 2014, $8.3 million in total revenues and $2.9 million in net loss associated with the properties were included in the Company’s Consolidated Statements of Operations. The pro forma revenues and net income are presented for informational purposes only and may not be indicative of what the actual results of operations of the Company would have been assuming the transaction occurred on January 1, 2013, nor do they purport to represent the Company’s results of operations for future periods. | ||||||||||||||||
During the year ended December 31, 2013, the Company acquired, via foreclosure, title to a residential operating property and two land properties, each of which previously served as collateral for loans receivable held by the Company. The total fair value of the land properties was $15.6 million. The Company contributed the residential operating property, which had a fair value of $25.5 million, to an entity of which it owns 63%. Based on the control provisions in the partnership agreement, the Company consolidates the entity and reflects its partner's 37% share of equity in "Noncontrolling interests" on the Company's Consolidated Balance Sheets. The acquisition was accounted for at fair value. No gain or loss was recorded in connection with this transaction. | ||||||||||||||||
Dispositions—During the years ended December 31, 2014, 2013 and 2012, the Company sold residential condominiums for total net proceeds of $236.2 million, $269.7 million and $319.3 million, respectively, and recorded income from sales of real estate totaling $79.1 million, $82.6 million and $63.5 million, respectively. During the year ended December 31, 2014, the Company sold residential lots from three of our master planned community properties for proceeds of $15.2 million which had associated cost of sales of $12.8 million. During the same period, the Company also sold properties with a carrying value of $6.8 million for proceeds that approximated carrying value. | ||||||||||||||||
During the year ended December 31, 2014, the Company sold net lease assets with a carrying value of $8.0 million resulting in a net gain of $5.7 million. The Company also sold a commercial operating property with a carrying value of $29.4 million resulting in a gain of $4.6 million. These gains were recorded as "Income from sales of real estate" in the Company's Consolidated Statements of Operations. Additionally, during the same period, the Company sold a net lease asset for net proceeds of $7.8 million. The Company recorded an impairment loss of $3.0 million in connection with the sale. | ||||||||||||||||
During the year ended December 31, 2014, the Company sold its 72% interest in a previously consolidated entity, which owned a net lease asset subject to a non-recourse mortgage of $26.0 million at the time of sale, to its Net Lease Venture for net proceeds of $10.1 million that approximated carrying value. During the same period, the Company contributed land with a carrying value of $9.5 million to a newly formed unconsolidated entity. See Note 6. | ||||||||||||||||
During the year ended December 31, 2013, the Company sold land for net proceeds of $21.4 million to a newly formed unconsolidated entity in which the Company also received a preferred partnership interest and a 47.5% equity interest. The Company recognized a gain of $3.4 million, reflecting the proportionate share of the sold interest, which was recorded as "Income from sales of real estate" in the Company's Consolidated Statements of Operations. The Company also sold land with a carrying value of $18.9 million for proceeds that approximated carrying value. | ||||||||||||||||
During the year ended December 31, 2013, the Company contributed land with carrying value of $24.1 million to a newly formed unconsolidated entity in which the Company received an equity interest of 75.6%. As a result of the transfer, the Company recognized a $7.4 million loss, which was recorded as "Loss on transfer of interest to unconsolidated subsidiary" on the Company's Consolidated Statements of Operations. In addition, during the year ended December 31, 2013, the Company contributed land with a carrying value of $2.8 million to a newly formed unconsolidated entity in which the Company also received a 50.0% equity interest. No gain or loss was recorded in conjunction with the transaction. | ||||||||||||||||
Additionally, during the year ended December 31, 2013, the Company sold five net lease assets with a carrying value of $18.7 million resulting in a net gain of $2.2 million. During the same period, the Company sold six commercial operating properties with a carrying value of $72.6 million resulting in a net gain of $18.6 million. These gains were recorded as "Gain from discontinued operations" in the Company's Consolidated Statements of Operations. The Company also sold other land assets with a carrying value of $14.8 million resulting in a gain of $0.6 million. During the year ended December 31, 2013, the Company transferred title of net lease assets with a carrying value of $8.7 million to its tenant for consideration that approximated our carrying value. | ||||||||||||||||
Discontinued Operations—The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013. During the year ended December 31, 2014, there were no disposals or assets classified as held for sale which were individually significant or represented a strategic shift that has (or will have) a major effect on the Company's operations and financial results. | ||||||||||||||||
The following table summarizes income (loss) from discontinued operations for the years ended December 31, 2013 and 2012 ($ in thousands): | ||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Revenues | $ | 5,545 | $ | 14,132 | ||||||||||||
Total expenses | (3,138 | ) | (9,037 | ) | ||||||||||||
Impairment of assets | (1,763 | ) | (22,576 | ) | ||||||||||||
Income (loss) from discontinued operations | $ | 644 | $ | (17,481 | ) | |||||||||||
Impairments—During the year ended December 31, 2014, the Company recorded impairments on real estate assets totaling $34.6 million, of which $15.6 million resulted from changes in business strategies for a residential property and a land asset, $15.4 million resulted from continued unfavorable local market conditions for two real estate properties and $3.6 million resulted from the sale of net lease assets. During the years ended December 31, 2013 and 2012, the Company recorded impairments on real estate assets totaling $14.4 million and $35.4 million, respectively, resulting from changes in local market conditions and business strategy for certain assets. Of these amounts, $1.8 million and $22.6 million for the years ended December 31, 2013 and 2012, respectively, have been recorded in "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations due to the assets being sold or classified as held for sale as of December 31, 2013 (see above). | ||||||||||||||||
Tenant Reimbursements—The Company receives reimbursements from tenants for certain facility operating expenses including common area costs, insurance, utilities and real estate taxes. Tenant expense reimbursements were $30.0 million, $31.8 million and $30.9 million for the years ended December 31, 2014, 2013 and 2012, respectively. These amounts are included in "Operating lease income" on the Company's Consolidated Statements of Operations. | ||||||||||||||||
Future Minimum Operating Lease Payments—Future minimum operating lease payments under non-cancelable leases, excluding customer reimbursements of expenses, in effect at December 31, 2014, are as follows ($ in thousands): | ||||||||||||||||
Year | Net Lease Assets | Operating Properties | ||||||||||||||
2015 | $ | 126,316 | $ | 52,823 | ||||||||||||
2016 | 125,653 | 51,437 | ||||||||||||||
2017 | 120,918 | 49,592 | ||||||||||||||
2018 | 118,384 | 44,288 | ||||||||||||||
2019 | 116,348 | 38,707 | ||||||||||||||
Loans_Receivable_and_Other_Len
Loans Receivable and Other Lending Investments, net | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||
Loans Receivable and Other Lending Investments, net | Loans Receivable and Other Lending Investments, net | |||||||||||||||||||||||
The following is a summary of the Company's loans receivable and other lending investments by class ($ in thousands): | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
Type of Investment | 2014 | 2013 | ||||||||||||||||||||||
Senior mortgages | $ | 737,535 | $ | 1,071,662 | ||||||||||||||||||||
Subordinate mortgages | 53,331 | 60,679 | ||||||||||||||||||||||
Corporate/Partnership loans | 497,796 | 473,045 | ||||||||||||||||||||||
Total gross carrying value of loans | 1,288,662 | 1,605,386 | ||||||||||||||||||||||
Reserves for loan losses | (98,490 | ) | (377,204 | ) | ||||||||||||||||||||
Total loans receivable, net | 1,190,172 | 1,228,182 | ||||||||||||||||||||||
Other lending investments—securities | 187,671 | 141,927 | ||||||||||||||||||||||
Total loans receivable and other lending investments, net(1) | $ | 1,377,843 | $ | 1,370,109 | ||||||||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. | |||||||||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the Company sold loans with total carrying values of $30.8 million, $95.1 million and $53.9 million, respectively, which resulted in a realized gain of $19.1 million, a net realized loss of $0.6 million and a net gain of $6.4 million, respectively. Gains and losses on sales of loans are included in "Other income" on the Company's Consolidated Statements of Operations. | ||||||||||||||||||||||||
Reserve for Loan Losses—Changes in the Company's reserve for loan losses were as follows ($ in thousands): | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Reserve for loan losses at beginning of period | $ | 377,204 | $ | 524,499 | $ | 646,624 | ||||||||||||||||||
Provision for (recovery of) loan losses(1) | (1,714 | ) | 5,489 | 81,740 | ||||||||||||||||||||
Charge-offs | (277,000 | ) | (152,784 | ) | (203,865 | ) | ||||||||||||||||||
Reserve for loan losses at end of period | $ | 98,490 | $ | 377,204 | $ | 524,499 | ||||||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. | |||||||||||||||||||||||
The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands): | ||||||||||||||||||||||||
Individually | Collectively | Loans Acquired | Total | |||||||||||||||||||||
Evaluated for | Evaluated for | with Deteriorated | ||||||||||||||||||||||
Impairment(1) | Impairment(2) | Credit Quality(3) | ||||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Loans | $ | 139,672 | $ | 1,156,031 | $ | — | $ | 1,295,703 | ||||||||||||||||
Less: Reserve for loan losses | (64,990 | ) | (33,500 | ) | — | (98,490 | ) | |||||||||||||||||
Total | $ | 74,682 | $ | 1,122,531 | $ | — | $ | 1,197,213 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Loans | $ | 752,425 | $ | 849,613 | $ | 9,889 | $ | 1,611,927 | ||||||||||||||||
Less: Reserve for loan losses | (348,004 | ) | (29,200 | ) | — | (377,204 | ) | |||||||||||||||||
Total | $ | 404,421 | $ | 820,413 | $ | 9,889 | $ | 1,234,723 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of December 31, 2014 and 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income. | |||||||||||||||||||||||
-2 | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $10.6 million and $4.6 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
-3 | The carrying value of the loan includes unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million as of December 31, 2013. The loan had a cumulative principal balance of $10.2 million as of December 31, 2013. The loan was repaid during the year ended December 31, 2014. | |||||||||||||||||||||||
Credit Characteristics—As part of the Company's process for monitoring the credit quality of its loans, it performs a quarterly loan portfolio assessment and assigns risk ratings to each of its performing loans. Risk ratings are based on judgments which are inherently uncertain and there can be no assurance that actual performance will be similar to current expectation. | ||||||||||||||||||||||||
The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands): | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Performing | Weighted | Performing | Weighted | |||||||||||||||||||||
Loans | Average | Loans | Average | |||||||||||||||||||||
Risk Ratings | Risk Ratings | |||||||||||||||||||||||
Senior mortgages | $ | 611,009 | 2.73 | $ | 591,145 | 2.5 | ||||||||||||||||||
Subordinate mortgages | 53,836 | 2.87 | 61,364 | 3.37 | ||||||||||||||||||||
Corporate/Partnership loans | 501,620 | 3.88 | 438,831 | 3.88 | ||||||||||||||||||||
Total | $ | 1,166,465 | 3.23 | $ | 1,091,340 | 3.11 | ||||||||||||||||||
As of December 31, 2014, the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands): | ||||||||||||||||||||||||
Current | Less Than | Greater | Total | Total | ||||||||||||||||||||
and Equal | Than | Past Due | ||||||||||||||||||||||
to 90 Days | 90 Days(1) | |||||||||||||||||||||||
Senior mortgages | $ | 644,190 | $ | — | $ | 96,057 | $ | 96,057 | $ | 740,247 | ||||||||||||||
Subordinate mortgages | 53,836 | — | — | — | 53,836 | |||||||||||||||||||
Corporate/Partnership loans | 501,620 | — | — | — | 501,620 | |||||||||||||||||||
Total | $ | 1,199,646 | $ | — | $ | 96,057 | $ | 96,057 | $ | 1,295,703 | ||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | As of December 31, 2014, the Company had three loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 5.0 to 6.0 years outstanding. | |||||||||||||||||||||||
Impaired Loans—The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands)(1): | ||||||||||||||||||||||||
As of December 31, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | |||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | |||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | $ | — | $ | — | $ | — | $ | 3,012 | $ | 2,992 | $ | — | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | 130,645 | 129,744 | (64,440 | ) | 650,337 | 645,463 | (304,544 | ) | ||||||||||||||||
Corporate/Partnership loans | 9,027 | 9,057 | (550 | ) | 99,076 | 99,067 | (43,460 | ) | ||||||||||||||||
Subtotal | 139,672 | 138,801 | (64,990 | ) | 749,413 | 744,530 | (348,004 | ) | ||||||||||||||||
Total: | ||||||||||||||||||||||||
Senior mortgages | 130,645 | 129,744 | (64,440 | ) | 653,349 | 648,455 | (304,544 | ) | ||||||||||||||||
Corporate/Partnership loans | 9,027 | 9,057 | (550 | ) | 99,076 | 99,067 | (43,460 | ) | ||||||||||||||||
Total | $ | 139,672 | $ | 138,801 | $ | (64,990 | ) | $ | 752,425 | $ | 747,522 | $ | (348,004 | ) | ||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of December 31, 2014 and 2013, certain loans modified through troubled debt restructurings with a recorded investment of $10.4 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status. | |||||||||||||||||||||||
The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands): | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | |||||||||||||||||||
Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | $ | 35,659 | $ | 1,922 | $ | 31,409 | $ | 9,269 | $ | 162,093 | $ | 2,765 | ||||||||||||
Corporate/Partnership loans | — | — | 8,062 | 6,050 | 10,110 | 160 | ||||||||||||||||||
Subtotal | 35,659 | 1,922 | 39,471 | 15,319 | 172,203 | 2,925 | ||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | 334,351 | 158 | 794,247 | 1,976 | 1,064,045 | 3,865 | ||||||||||||||||||
Subordinate mortgages | — | — | 32,382 | — | 52,208 | — | ||||||||||||||||||
Corporate/Partnership loans | 52,963 | 181 | 77,661 | 323 | 62,248 | 312 | ||||||||||||||||||
Subtotal | 387,314 | 339 | 904,290 | 2,299 | 1,178,501 | 4,177 | ||||||||||||||||||
Total: | ||||||||||||||||||||||||
Senior mortgages | 370,010 | 2,080 | 825,656 | 11,245 | 1,226,138 | 6,630 | ||||||||||||||||||
Subordinate mortgages | — | — | 32,382 | — | 52,208 | — | ||||||||||||||||||
Corporate/Partnership loans | 52,963 | 181 | 85,723 | 6,373 | 72,358 | 472 | ||||||||||||||||||
Total | $ | 422,973 | $ | 2,261 | $ | 943,761 | $ | 17,618 | $ | 1,350,704 | $ | 7,102 | ||||||||||||
There was no interest income related to the resolution of non-performing loans recorded during the years ended December 31, 2014 and 2012. During the year ended December 31, 2013, the Company recorded interest income of $13.3 million related to the resolution of non-performing loans. Interest income was not previously recorded while the loans were on non-accrual status. | ||||||||||||||||||||||||
Troubled Debt Restructurings—During the years ended December 31, 2014 and 2013, the Company modified loans that were determined to be troubled debt restructurings. The recorded investment in these loans was impacted by the modifications as follows, presented by class ($ in thousands): | ||||||||||||||||||||||||
For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | |||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Number | Pre-Modification | Post-Modification | |||||||||||||||||||
of Loans | Outstanding | Outstanding | of Loans | Outstanding | Outstanding | |||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||
Senior mortgages | 1 | $ | 7,040 | $ | 7,040 | 6 | $ | 179,030 | $ | 154,278 | ||||||||||||||
During the year ended December 31, 2014, the Company restructured one non-performing loan with a recorded investment of $7.0 million to grant a maturity extension of one year and included conditional extension options. | ||||||||||||||||||||||||
During the year ended December 31, 2013, the Company restructured six loans that were considered troubled debt restructurings. The Company restructured two performing loans with a combined recorded investment of $4.6 million to grant maturity extensions of one year each. Non-performing loans with a combined investment of $174.5 million were also modified during the year ended December 31, 2013. Included in this balance were two loans with a combined recorded investment of $98.3 million in which the Company received $15.4 million of paydowns and accepted discounted payoff options on these loans. At the time of the restructuring, the Company reclassified the loans from non-performing to performing status as the Company believed the borrowers would perform under the modified terms of the agreements. The loans were repaid in January 2014 and July 2014 at the discounted payoff amount. | ||||||||||||||||||||||||
Generally when granting concessions, the Company will seek to protect its position by requiring incremental pay downs, additional collateral or guarantees and in some cases lookback features or equity kickers to offset concessions granted should conditions impacting the loan improve. The Company's determination of credit losses is impacted by troubled debt restructurings whereby loans that have gone through troubled debt restructurings are considered impaired, assessed for specific reserves, and are not included in the Company's assessment of general loan loss reserves. Loans previously restructured under troubled debt restructurings that subsequently default are reassessed to incorporate the Company's current assumptions on expected cash flows and additional provision expense is recorded to the extent necessary. As of December 31, 2014, there were no unfunded commitments associated with modified loans considered troubled debt restructurings. | ||||||||||||||||||||||||
Securities—Other lending investments—securities includes the following ($ in thousands): | ||||||||||||||||||||||||
Face Value | Amortized Cost Basis | Net Unrealized Gain (Loss) | Estimated Fair Value | Net Carrying Value | ||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||||||||||
Municipal debt securities | $ | 1,020 | $ | 1,020 | $ | 147 | $ | 1,167 | $ | 1,167 | ||||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||||||
Corporate debt securities | 176,254 | 186,504 | — | 190,199 | 186,504 | |||||||||||||||||||
Total | $ | 177,274 | $ | 187,524 | $ | 147 | $ | 191,366 | $ | 187,671 | ||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||||||||||
Municipal debt securities | $ | 1,055 | $ | 1,055 | $ | (18 | ) | $ | 1,037 | $ | 1,037 | |||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||||||
Corporate debt securities | 139,842 | 140,890 | — | 140,890 | 140,890 | |||||||||||||||||||
Total | $ | 140,897 | $ | 141,945 | $ | (18 | ) | $ | 141,927 | $ | 141,927 | |||||||||||||
As of December 31, 2014, the contractual maturities of the Company's securities were as follows ($ in thousands): | ||||||||||||||||||||||||
Held-to-Maturity Securities | Available-for-Sale Securities | |||||||||||||||||||||||
Amortized Cost Basis | Estimated Fair Value | Amortized Cost Basis | Estimated Fair Value | |||||||||||||||||||||
Maturities | ||||||||||||||||||||||||
Within one year | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
After one year through 5 years | 186,504 | 190,199 | — | — | ||||||||||||||||||||
After 5 years through 10 years | — | — | — | — | ||||||||||||||||||||
After 10 years | — | — | 1,020 | 1,167 | ||||||||||||||||||||
Total | $ | 186,504 | $ | 190,199 | $ | 1,020 | $ | 1,167 | ||||||||||||||||
Other_Investments
Other Investments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Investments, All Other Investments [Abstract] | ||||||||||||||||||||
Other Investments | Other Investments | |||||||||||||||||||
The Company's other investments and its proportionate share of results from equity method investments were as follows ($ in thousands): | ||||||||||||||||||||
Carrying Value | Equity in Earnings | |||||||||||||||||||
As of December 31, | For the Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2012 | ||||||||||||||||
Real estate equity investments | $ | 244,886 | $ | 62,205 | $ | 53,428 | $ | 2,753 | $ | 21,636 | ||||||||||
Madison Funds | 45,971 | 67,782 | 3,092 | 14,796 | 10,246 | |||||||||||||||
Other equity method investments(1)(2) | 30,415 | 45,954 | 35,172 | 3,332 | 4,614 | |||||||||||||||
Oak Hill Funds | 17,658 | 21,366 | 3,213 | 4,174 | 5,844 | |||||||||||||||
LNR | — | — | — | 16,465 | 60,669 | |||||||||||||||
Total equity method investments | 338,930 | 197,307 | $ | 94,905 | $ | 41,520 | $ | 103,009 | ||||||||||||
Other | 15,189 | 9,902 | ||||||||||||||||||
Total other investments | $ | 354,119 | $ | 207,209 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | During the year ended December 31, 2014, the Company recognized $23.4 million of earnings from equity method investments resulting from asset sales and a legal settlement by one of its equity method investees. | |||||||||||||||||||
-2 | In conjunction with the sale of the Company's interests in Oak Hill Advisors, L.P. in 2011, the Company retained interests in its share of carried interest related to various funds. During the year ended December 31, 2014, the Company recognized $9.0 million of carried interest income. | |||||||||||||||||||
Real Estate Equity Investments—During the year ended December 31, 2014, the Company partnered with a sovereign wealth fund to form a new unconsolidated entity in which the Company has a noncontrolling equity interest of approximately 51.9%. This entity is not a VIE and the Company does not have controlling interest due to substantive participating rights of its partner. The partners plan to contribute up to an aggregate $500 million of equity to acquire and develop net lease assets over time. The Company is responsible for sourcing new opportunities and managing the venture and its assets in exchange for a promote and management fee. Several of the Company's senior executives whose time is substantially devoted to the net lease venture own a total of 0.6% equity ownership in the venture via co-investment. These executives are also entitled to an amount equal to 50% of any promote payment received based on the 47.5% partner's interest. During the year ended December 31, 2014, the Company sold a net lease asset for net proceeds of $93.7 million, which approximated carrying value, to the venture. The Company also sold its 72% interest in a previously consolidated entity, which owned a net lease asset subject to a non-recourse mortgage of $26.0 million at the time of sale, to the venture for net proceeds of $10.1 million, which approximated carrying value. During the same period, the venture purchased a portfolio of 58 net lease assets for a purchase price of $200.0 million from a third party. As of December 31, 2014, the venture's carrying value of total assets was $348.1 million and the Company had a recorded equity interest in the venture of $125.4 million. | ||||||||||||||||||||
During the year ended December 31, 2014, an unconsolidated entity for which the Company held a 50.0% noncontrolling equity interest sold all of its properties. As a result of the transaction, the Company received net proceeds of $48.1 million and recognized a gain of $33.3 million, which is included in "Earnings from equity method investments" in its Consolidated Statements of Operations. As of December 31, 2014 and 2013, the Company had an equity interest in the entity of $0.2 million and $16.4 million, respectively. | ||||||||||||||||||||
During the year ended December 31, 2014, the Company contributed land to a newly formed unconsolidated entity in which the Company received an initial equity interest of 85.7%. This entity is a VIE and the Company does not have controlling interest due to shared power of the entity with its partner. As of December 31, 2014, the Company had a recorded equity interest of $9.4 million. Additionally, the Company committed to provide $45.7 million of mezzanine financing to the entity. As of December 31, 2014, the loan balance was $14.6 million and is included in "Loans receivable and other lending investments, net" on the Company's Consolidated Balance Sheets. | ||||||||||||||||||||
During the year ended December 31, 2014, the Company and a consortium of co-lenders formed a new unconsolidated entity, in which the Company received an initial 15.7% equity interest, which acquired, via foreclosure sale, title to a land asset which previously served as collateral for a loan receivable held by the consortium. This entity is not a VIE and the Company does not have controlling interest in the entity as the Company's voting rights is based on its ownership percentage in the entity. As a result of the transaction, the Company recorded an additional provision of $2.8 million in "Provision for (recovery of) loan losses" in its Consolidated Statements of Operations. As of December 31, 2014, the Company had a recorded equity interest of $23.5 million. | ||||||||||||||||||||
During the year ended December 31, 2013, the Company sold land for net proceeds of $21.4 million to a newly formed unconsolidated entity in which the Company had a preferred partnership interest and a 47.5% equity interest. This entity is a VIE and the Company does not have controlling interest due to shared power of the entity with its partner. The Company's proportionate share of the assets retained on a carryover basis on the date of sale was $10.6 million. The Company held a preferred partnership interest of $6.6 million, which was repaid and no longer outstanding at December 31, 2013. During 2014, the Company acquired an additional preferred partnership interest in the entity of $10.0 million and recognized $14.7 million of income related to sales activity, which is included in "Earnings from equity method investments" in its Consolidated Statements of Operations. As of December 31, 2014 and 2013, the Company had a recorded equity interest of $30.7 million and $5.5 million, respectively. | ||||||||||||||||||||
During the year ended December 31, 2013, the Company contributed land to a newly formed unconsolidated entity in which the Company received an equity interest of 75.6%. As of December 31, 2014 and 2013, the Company had a recorded equity interest of $21.1 million and $18.0 million, respectively. In addition, during the year ended December 31, 2013, the Company contributed land to a newly formed unconsolidated entity in which the Company also received a 50.0% equity interest. As of December 31, 2014 and 2013, the Company had a recorded equity interest of $7.8 million and $3.5 million, respectively. These entities are VIEs and the Company does not have controlling interests due to shared power of the entities with its partners. | ||||||||||||||||||||
As of December 31, 2014, the Company's other real estate equity investments included equity interests in real estate ventures ranging from 31% to 70%, comprised of investments of $13.2 million in operating properties and $13.8 million in land assets. As of December 31, 2013, the Company's real estate equity investments included $16.0 million in operating properties and $2.7 million in land assets. | ||||||||||||||||||||
Madison Funds—As of December 31, 2014, the Company owned a 29.5% interest in Madison International Real Estate Fund II, LP, a 32.9% interest in Madison International Real Estate Liquidity Fund III, LP ("MIRELF III"), a 32.9% interest in Madison International Real Estate Liquidity Fund III AIV, LP ("MIRELF III AIV") and a 29.5% interest in Madison GP1 Investors, LP (collectively, the "Madison Funds"). The Madison Funds invest in ownership positions of entities that own real estate assets. The Company determined that these entities are VIEs and that the Company is not the primary beneficiary. | ||||||||||||||||||||
Oak Hill Funds—As of December 31, 2014, the Company owned a 5.9% interest in OHA Strategic Credit Master Fund, L.P. ("OHASCF"). OHASCF was formed to acquire and manage a diverse portfolio of assets, investing in distressed, stressed and undervalued loans, bonds, equities and other investments. The Company determined that this entity is a VIE and that the Company is not the primary beneficiary. | ||||||||||||||||||||
LNR—In July 2010, the Company acquired an ownership interest of approximately 24% in LNR Property Corporation ("LNR"). LNR is a servicer and special servicer of commercial mortgage loans and CMBS and a diversified real estate investment, finance and management company. In the transaction, the Company and a group of investors, including other creditors of LNR, acquired 100% of the common stock of LNR in exchange for cash and the extinguishment of existing senior notes of LNR's parent holding company (the "Holdco Notes"). The Company contributed $100.0 million aggregate principal amount of Holdco Notes and $100.0 million in cash in exchange for an equity interest of $120.0 million. | ||||||||||||||||||||
Beginning in September 2012, the Company and other owners of LNR entered into negotiations with potential purchasers of LNR. After an extensive due diligence and negotiation process, the LNR owners entered into a definitive contract to sell LNR in January 2013 at a fixed sale price which, from the Company's perspective, reflected in part the Company's then-current expectations about the future results of LNR and potential volatility in its business. The definitive sale contract provided that LNR would not make cash distributions to its owners during the fourth quarter of 2012 through the closing of the sale. Notwithstanding the fixed terms of the contract, our investment balance in LNR increased due to equity in earnings recorded which resulted in our recognition of other than temporary impairment on our investment during the year ended December 31, 2013. In April 2013, the Company completed the sale of its 24% equity interest in LNR and received $220.3 million in net proceeds. Approximately $25.2 million of net proceeds, which were placed in escrow for potential indemnification obligations, were released to the Company in April 2014. | ||||||||||||||||||||
The following table represents investee level summarized financial information for LNR ($ in thousands)(1): | ||||||||||||||||||||
For the Period from October 1, 2012 to April 19, 2013 | For the Year Ended September 30, 2012 | |||||||||||||||||||
Income Statements | ||||||||||||||||||||
Total revenue(2) | $ | 179,373 | $ | 332,902 | ||||||||||||||||
Income tax (expense) benefit | (2,137 | ) | (6,731 | ) | ||||||||||||||||
Net income attributable to LNR(3) | 113,478 | 253,039 | ||||||||||||||||||
iStar's ownership percentage | 24 | % | 24 | % | ||||||||||||||||
iStar's equity in earnings from LNR | $ | 45,375 | $ | 60,669 | ||||||||||||||||
For the Period from October 1, 2012 to April 19, 2013 | For the Year Ended September 30, 2012 | |||||||||||||||||||
Cash Flows | ||||||||||||||||||||
Operating cash flows | $ | (127,075 | ) | $ | (85,909 | ) | ||||||||||||||
Cash flows from investing activities | (36,543 | ) | (55,686 | ) | ||||||||||||||||
Cash flows from financing activities | 217,241 | 229,634 | ||||||||||||||||||
Net cash flows | 53,623 | 88,039 | ||||||||||||||||||
Cash distributions | — | 61,179 | ||||||||||||||||||
iStar's ownership percentage | 24 | % | 24 | % | ||||||||||||||||
Cash distributions received by iStar | $ | — | $ | 14,690 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. | |||||||||||||||||||
-2 | LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. Total revenue presented above includes $55.5 million and $95.4 million for the period from October 1, 2012 to April 19, 2013 and for the year ended September 30, 2012, respectively, of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR. | |||||||||||||||||||
-3 | Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. | |||||||||||||||||||
The following table reconciles the activity related to the Company's investment in LNR for the three months ended March 31, 2013 and June 30, 2013, the six months ended December 31, 2013 and the year ended December 31, 2013 ($ in thousands): | ||||||||||||||||||||
For the Three Months Ended March 31, 2013 | For the Three Months Ended June 30, 2013 | For the Six Months Ended December 31, 2013 | For the Year Ended December 31, 2013 | |||||||||||||||||
Carrying value of LNR at beginning of period | $ | 205,773 | $ | 220,281 | $ | — | $ | 205,773 | ||||||||||||
Equity in earnings of LNR for the period(1) | 45,375 | — | — | 45,375 | (a) | |||||||||||||||
Balance before other than temporary impairment | 251,148 | 220,281 | — | 251,148 | ||||||||||||||||
Other than temporary impairment(1) | (30,867 | ) | — | — | (30,867 | ) | (b) | |||||||||||||
Sales proceeds pursuant to contract | — | (220,281 | ) | — | (220,281 | ) | ||||||||||||||
Carrying value of LNR at end of period | 220,281 | — | — | — | ||||||||||||||||
Explanatory Note: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | During the year ended December 31, 2013, the Company recorded an other than temporary impairment of $30.9 million. Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. | |||||||||||||||||||
For the year ended December 31, 2013, the amount that was recognized as income in the Company's Consolidated Statements of Operations is the sum of items (a) and (b), and $1.7 million of income recognized for the release of other comprehensive income related to LNR upon sale, or $16.5 million. | ||||||||||||||||||||
Other Investments—As of December 31, 2014, the Company also had smaller investments in real estate related funds and other strategic investments in several other entities that were accounted for under the equity method or cost method. | ||||||||||||||||||||
Summarized investee financial information—The following tables present the investee level summarized financial information of the Company's equity method investments, excluding LNR which is presented above ($ in thousands): | ||||||||||||||||||||
Revenues | Expenses | Net Income Attributable to Parent Entities | ||||||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||||||||
Alinda Infrastructure Fund I, L.P. ("Alinda")(1) | $ | 233,130 | $ | (15,433 | ) | $ | 217,697 | |||||||||||||
Marina Palms, LLC ("Marina Palms") | 114,125 | (77,120 | ) | 37,005 | ||||||||||||||||
OHASCF | 78,262 | (951 | ) | 77,311 | ||||||||||||||||
Moor Park Real Estate Partners II L.P., Incorporated ("Moor Park") | 25,760 | (224 | ) | 25,536 | ||||||||||||||||
MIRELF III | 20,293 | (1,401 | ) | 18,846 | ||||||||||||||||
iStar Net Lease I LLC ("Net Lease Venture")(2) | 13,826 | (9,917 | ) | 3,691 | ||||||||||||||||
Outlets at Westgate, LLC ("Westgate") | 13,118 | (9,618 | ) | 3,500 | ||||||||||||||||
MIRELF III AIV | (1,194 | ) | (384 | ) | (1,578 | ) | ||||||||||||||
Other | 128,719 | (70,555 | ) | 58,202 | ||||||||||||||||
Total | $ | 626,039 | $ | (185,603 | ) | $ | 440,210 | |||||||||||||
Revenues | Expenses | Net Income Attributable to Parent Entities | ||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||
Alinda(1) | $ | 123,447 | $ | (17,927 | ) | $ | 105,520 | |||||||||||||
OHASCF | 72,313 | (1,642 | ) | 70,671 | ||||||||||||||||
MIRELF III AIV | 26,348 | (1,167 | ) | 25,181 | ||||||||||||||||
MIRELF III | 19,460 | (1,675 | ) | 17,739 | ||||||||||||||||
Westgate | 12,447 | (8,889 | ) | 3,558 | ||||||||||||||||
Moor Park | 1,373 | (304 | ) | 1,069 | ||||||||||||||||
Marina Palms(3) | 73 | (3,525 | ) | (3,452 | ) | |||||||||||||||
Other | 29,052 | (42,504 | ) | (14,088 | ) | |||||||||||||||
Total | $ | 284,513 | $ | (77,633 | ) | $ | 206,198 | |||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||
OHASCF | $ | 109,234 | $ | (2,700 | ) | $ | 106,534 | |||||||||||||
Alinda(1) | 104,364 | (16,934 | ) | 87,430 | ||||||||||||||||
MIRELF III | 13,490 | (3,894 | ) | 9,550 | ||||||||||||||||
Westgate | 1,935 | (2,202 | ) | (267 | ) | |||||||||||||||
Moor Park | 1,225 | (435 | ) | 790 | ||||||||||||||||
MIRELF III AIV | (12,762 | ) | (1,731 | ) | (14,493 | ) | ||||||||||||||
Other | 184,384 | (67,495 | ) | 115,416 | ||||||||||||||||
Total | $ | 401,870 | $ | (95,391 | ) | $ | 304,960 | |||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | The Company recorded its 1% investment in Alinda on a quarter lag. Therefore, the amounts in the Company's financial statements for the years ended December 31, 2014, 2013 and 2012 were based on balances and results from Alinda for the years ended September 30, 2014, 2013 and 2012, respectively. | |||||||||||||||||||
-2 | The Company began accounting for its investment in Net Lease Venture under the equity method of accounting on February 13, 2014. The amounts in the Company's financial statements for the year ended December 31, 2014 are based on the balances and results from Net Lease Venture for the period from February 13, 2014 to December 31, 2014. | |||||||||||||||||||
-3 | The Company began accounting for its investment in Marina Palms under the equity method of accounting on April 17, 2013. The amounts in the Company's financial statements for the year ended December 31, 2013 are based on the balances and results from Marina Palms for the period from April 17, 2013 to December 31, 2013. | |||||||||||||||||||
As of December 31, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Balance Sheets | ||||||||||||||||||||
Total assets | $ | 3,464,984 | $ | 2,980,737 | ||||||||||||||||
Total liabilities | 479,298 | 303,100 | ||||||||||||||||||
Noncontrolling interests | 3,297 | 333 | ||||||||||||||||||
Total equity | 2,982,389 | 2,677,304 | ||||||||||||||||||
Other_Assets_and_Other_Liabili
Other Assets and Other Liabilities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Other Assets and Other Liabilities [Abstract] | ||||||||
Other Assets and Other Liabilities | Other Assets and Other Liabilities | |||||||
Deferred expenses and other assets, net, consist of the following items ($ in thousands): | ||||||||
As of December 31, | ||||||||
2014 | 2013 | |||||||
Intangible assets, net(1) | $ | 50,088 | $ | 100,652 | ||||
Other assets | 37,085 | 40,726 | ||||||
Deferred financing fees, net(2) | 36,774 | 33,591 | ||||||
Leasing costs, net(3) | 20,031 | 21,799 | ||||||
Other receivables | 13,115 | 34,655 | ||||||
Corporate furniture, fixtures and equipment, net(4) | 5,409 | 6,557 | ||||||
Deferred expenses and other assets, net | $ | 162,502 | $ | 237,980 | ||||
Explanatory Notes: | ||||||||
_______________________________________________________________________________ | ||||||||
-1 | Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $45.1 million and $38.1 million as of December 31, 2014 and 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $7.7 million, $7.0 million and $5.8 million for the years ended December 31, 2014, 2013, and 2012, respectively. The amortization expense for other intangible assets was $6.7 million, $8.2 million and $7.0 million for the years ended December 31, 2014, 2013, and 2012, respectively. These amounts are included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations. | |||||||
-2 | Accumulated amortization on deferred financing fees was $15.4 million and $9.9 million as of December 31, 2014 and 2013, respectively. | |||||||
-3 | Accumulated amortization on leasing costs was $9.0 million and $7.1 million as of December 31, 2014 and 2013, respectively. | |||||||
-4 | Accumulated depreciation on corporate furniture, fixtures and equipment was $7.1 million and $6.2 million as of December 31, 2014 and 2013, respectively. | |||||||
Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands): | ||||||||
As of December 31, | ||||||||
2014 | 2013 | |||||||
Accrued expenses | $ | 62,866 | $ | 58,840 | ||||
Accrued interest payable | 57,895 | 40,015 | ||||||
Other liabilities(1) | 48,256 | 45,753 | ||||||
Intangible liabilities, net(2) | 11,885 | 26,223 | ||||||
Accounts payable, accrued expenses and other liabilities | $ | 180,902 | $ | 170,831 | ||||
Explanatory Notes: | ||||||||
_______________________________________________________________________________ | ||||||||
-1 | As of December 31, 2014, "Other liabilities" includes $6.8 million related to a profit sharing payable to a developer for residential units sold. "Other liabilities" also includes $7.7 million related to tax increment financing ("TIF") bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. | |||||||
-2 | Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.2 million and $4.6 million as of December 31, 2014 and 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $2.5 million, $2.8 million and $1.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||
Intangible assets and liabilities—The estimated aggregate amortization costs of lease intangible assets and liabilities for each of the five succeeding fiscal years are as follows ($ in thousands): | ||||||||
2015 | $ | 5,929 | ||||||
2016 | 5,677 | |||||||
2017 | 5,308 | |||||||
2018 | 4,987 | |||||||
2019 | 4,830 | |||||||
Debt_Obligations_net
Debt Obligations, net | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||
Debt Obligations, net | Debt Obligations, net | |||||||||||||||
As of December 31, 2014 and 2013, the Company's debt obligations were as follows ($ in thousands): | ||||||||||||||||
Carrying Value as of December 31, | Stated | Scheduled | ||||||||||||||
2014 | 2013 | Interest Rates | Maturity Date | |||||||||||||
Secured credit facilities and term loans: | ||||||||||||||||
2012 Tranche A-2 Facility | $ | 358,504 | $ | 431,475 | LIBOR + 5.75% | -1 | Mar-17 | |||||||||
February 2013 Secured Credit Facility | — | 1,379,407 | LIBOR + 3.50% | -2 | — | |||||||||||
Term loans collateralized by net lease assets | 248,955 | 278,817 | 4.851% - 7.26% | -3 | Various through 2026 | |||||||||||
Total secured credit facilities and term loans | 607,459 | 2,089,699 | ||||||||||||||
Unsecured notes: | ||||||||||||||||
6.05% senior notes | 105,765 | 105,765 | 6.05 | % | Apr-15 | |||||||||||
5.875% senior notes | 261,403 | 261,403 | 5.875 | % | Mar-16 | |||||||||||
3.875% senior notes | 265,000 | 265,000 | 3.875 | % | Jul-16 | |||||||||||
3.0% senior convertible notes(4) | 200,000 | 200,000 | 3 | % | Nov-16 | |||||||||||
1.50% senior convertible notes(5) | 200,000 | 200,000 | 1.5 | % | Nov-16 | |||||||||||
5.85% senior notes | 99,722 | 99,722 | 5.85 | % | Mar-17 | |||||||||||
9.0% senior notes | 275,000 | 275,000 | 9 | % | Jun-17 | |||||||||||
4.00% senior notes | 550,000 | — | 4 | % | Nov-17 | |||||||||||
7.125% senior notes | 300,000 | 300,000 | 7.125 | % | Feb-18 | |||||||||||
4.875% senior notes | 300,000 | 300,000 | 4.875 | % | Jul-18 | |||||||||||
5.00% senior notes | 770,000 | — | 5 | % | Jul-19 | |||||||||||
Total unsecured notes | 3,326,890 | 2,006,890 | ||||||||||||||
Other debt obligations: | ||||||||||||||||
Other debt obligations | 100,000 | 100,000 | LIBOR + 1.50% | Oct-35 | ||||||||||||
Total debt obligations | 4,034,349 | 4,196,589 | ||||||||||||||
Debt discounts, net | (11,665 | ) | (38,464 | ) | ||||||||||||
Total debt obligations, net | $ | 4,022,684 | $ | 4,158,125 | ||||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | The loan has a LIBOR floor of 1.25%. As of December 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%. | |||||||||||||||
-2 | This loan had a LIBOR floor of 1.00%. | |||||||||||||||
-3 | As of December 31, 2014 and 2013, includes a loan with a floating rate of LIBOR plus 2.00%. As of December 31, 2013, includes a loan with a floating rate of LIBOR plus 2.75%. As of December 31, 2014, the weighted average interest rate of these loans is 5.3%. | |||||||||||||||
-4 | The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016. | |||||||||||||||
-5 | The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016. | |||||||||||||||
Future Scheduled Maturities—As of December 31, 2014, future scheduled maturities of outstanding long-term debt obligations are as follows ($ in thousands): | ||||||||||||||||
Unsecured Debt | Secured Debt | Total | ||||||||||||||
2015 | $ | 105,765 | $ | — | $ | 105,765 | ||||||||||
2016 | 926,403 | — | 926,403 | |||||||||||||
2017 | 924,722 | 358,504 | 1,283,226 | |||||||||||||
2018 | 600,000 | 15,239 | 615,239 | |||||||||||||
2019 | 770,000 | 32,312 | 802,312 | |||||||||||||
Thereafter | 100,000 | 201,404 | 301,404 | |||||||||||||
Total principal maturities | 3,426,890 | 607,459 | 4,034,349 | |||||||||||||
Unamortized debt discounts, net | (8,371 | ) | (3,294 | ) | (11,665 | ) | ||||||||||
Total long-term debt obligations, net | $ | 3,418,519 | $ | 604,165 | $ | 4,022,684 | ||||||||||
February 2013 Secured Credit Facility—On February 11, 2013, the Company entered into a $1.71 billion senior secured credit facility due October 15, 2017 (the "February 2013 Secured Credit Facility") that amended and restated its $1.82 billion senior secured credit facility, dated October 15, 2012 (the "October 2012 Secured Credit Facility"). The February 2013 Credit Facility amended the October 2012 Secured Credit Facility by: (i) reducing the interest rate from LIBOR plus 4.50%, with a 1.25% LIBOR floor, to LIBOR plus 3.50%, with a 1.00% LIBOR floor; and (ii) extending the call protection period for the lenders from October 15, 2013 to December 31, 2013. | ||||||||||||||||
In connection with the February 2013 Secured Credit Facility transaction, the Company incurred $17.1 million of lender fees, of which $14.4 million was capitalized in "Debt obligations, net" on the Company's Consolidated Balance Sheets and $2.7 million was recorded as a loss in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations as it related to the lenders who did not participate in the new facility. The Company also incurred $3.8 million in third party fees, of which $3.6 million was recognized in “Other expense” on the Company's Consolidated Statements of Operations, as it related primarily to those lenders from the original facility that modified their debt under the new facility, and $0.2 million was recorded in “Deferred expenses and other assets, net” on the Company's Consolidated Balance Sheets, as it related to the new lenders. | ||||||||||||||||
During the year ended December 31, 2014, net proceeds from the issuances of the Company's $550.0 million aggregate principal amount of 4.00% senior unsecured notes and $770.0 million aggregate principal amount of 5.00% senior unsecured notes, together with cash on hand, were used to fully repay and terminate the February 2013 Secured Credit Facility. From February 2013 through full payoff in June 2014, the Company made cumulative amortization repayments of $388.5 million. During the year ended December 31, 2014 and 2013, amortization repayments made by the Company resulted in losses on early extinguishment of debt of $1.1 million and $7.0 million, respectively, related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid. In connection with the repayment and termination of the facility in 2014, the Company recorded a loss on early extinguishment of debt of $22.8 million related to unamortized discounts and financing fees at the time of refinancing. These amounts were included in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations. | ||||||||||||||||
March 2012 Secured Credit Facilities—In March 2012, the Company entered into an $880.0 million senior secured credit agreement providing for two tranches of term loans: a $410.0 million 2012 A-1 tranche due March 2016, which bears interest at a rate of LIBOR + 4.00% (the "2012 Tranche A-1 Facility"), and a $470.0 million 2012 A-2 tranche due March 2017, which bears interest at a rate of LIBOR + 5.75% (the "2012 Tranche A-2 Facility," together the "March 2012 Secured Credit Facilities"). The 2012 A-1 and A-2 tranches were issued at 98.0% of par and 98.5% of par, respectively, and both tranches include a LIBOR floor of 1.25%. Proceeds from the March 2012 Secured Credit Facilities, together with cash on hand, were used to repurchase and repay at maturity $606.7 million aggregate principal amount of the Company's convertible notes due October 2012, to fully repay the $244.0 million balance on the Company's unsecured credit facility due June 2012, and to repay, upon maturity, $90.3 million outstanding principal balance of its 5.50% senior unsecured notes. | ||||||||||||||||
The March 2012 Secured Credit Facilities are collateralized by a first lien on a fixed pool of assets. Proceeds from principal repayments and sales of collateral are applied to amortize the March 2012 Secured Credit Facilities. Proceeds received for interest, rent, lease payments and fee income are retained by the Company. The Company may also make optional prepayments, subject to prepayment fees. The 2012 Tranche A-1 Facility was fully repaid in August 2013. Additionally, through December 31, 2014, the Company made cumulative amortization repayments of $111.5 million on the 2012 Tranche A-2 Facility. For the years ended December 31, 2014 and 2013, repayments of the 2012 Tranche A-2 Facility prior to maturity resulted in losses on early extinguishment of debt of $1.5 million and $1.0 million, respectively, related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid. These amounts were included in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations. | ||||||||||||||||
Repayments of the 2012 Tranche A-1 Facility prior to scheduled amortization dates resulted in losses on early extinguishment of debt of $4.4 million and $8.1 million during the years ended December 31, 2013 and 2012, respectively, related to the accelerated amortization of discounts and unamortized deferred financing fees on the portion of the facility that was repaid. These amounts were included in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations. | ||||||||||||||||
Unsecured Notes—In June 2014, the Company issued $550.0 million aggregate principal amount of 4.00% senior unsecured notes due November 2017 and $770.0 million aggregate principal amount of 5.00% senior unsecured notes due July 2019. Net proceeds from these transactions, together with cash on hand, were used to fully repay and terminate the February 2013 Secured Credit Facility which had an outstanding balance of $1.32 billion. | ||||||||||||||||
In November 2013, the Company issued $200.0 million aggregate principal of 1.50% convertible senior unsecured notes due November 2016. Proceeds from the transaction, together with cash on hand, were used to fully repay the remaining $200.6 million of outstanding 5.70% senior unsecured notes due March 2014. In connection with the repayment of the 5.70% senior unsecured notes, the Company incurred $2.8 million of losses related to a prepayment penalty and the accelerated amortization of discounts, which was recorded in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations for the year ended December 31, 2013. | ||||||||||||||||
In May 2013, the Company issued $265.0 million aggregate principal of 3.875% senior unsecured notes due July 2016 and issued $300.0 million aggregate principal of 4.875% senior unsecured notes due July 2018. Net proceeds from these transactions, together with cash on hand, were used to fully repay the remaining $96.8 million of outstanding 8.625% senior unsecured notes due June 2013 and the remaining $448.5 million of outstanding 5.95% senior unsecured notes due in October 2013. In connection with the repayment of the 5.95% senior unsecured notes, the Company incurred $9.5 million of losses related to a prepayment penalty and the accelerated amortization of discounts, which was recorded in "Loss on early extinguishment of debt, net" on the Company's Consolidated Statements of Operations for the year ended December 31, 2013. | ||||||||||||||||
Encumbered/Unencumbered Assets—As of December 31, 2014 and 2013, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands): | ||||||||||||||||
As of December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Encumbered Assets | Unencumbered Assets | Encumbered Assets | Unencumbered Assets | |||||||||||||
Real estate, net | $ | 620,378 | $ | 2,056,336 | $ | 1,644,463 | $ | 1,151,718 | ||||||||
Real estate available and held for sale | 10,496 | 275,486 | 152,604 | 207,913 | ||||||||||||
Loans receivable and other lending investments, net(1) | 46,515 | 1,364,828 | 860,557 | 538,752 | ||||||||||||
Other investments | 17,708 | 336,411 | 24,093 | 183,116 | ||||||||||||
Cash and other assets | — | 768,475 | — | 907,995 | ||||||||||||
Total | $ | 695,097 | $ | 4,801,536 | $ | 2,681,717 | $ | 2,989,494 | ||||||||
Explanatory Note: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | As of December 31, 2014 and 2013, the amounts presented exclude general reserves for loan losses of $33.5 million and $29.2 million, respectively. | |||||||||||||||
Debt Covenants | ||||||||||||||||
The Company's outstanding unsecured debt securities contain corporate level covenants that include a covenant to maintain a ratio of unencumbered assets to unsecured indebtedness of at least 1.2x and a restriction on debt incurrence based upon the effect of the debt incurrence on the Company's fixed charge coverage ratio. If any of the Company's covenants are breached and not cured within applicable cure periods, the breach could result in acceleration of its debt securities unless a waiver or modification is agreed upon with the requisite percentage of the bondholders. While the Company's ability to incur new indebtedness under the fixed charge coverage ratio is currently limited, which may put limitations on its ability to make new investments, it is permitted to incur indebtedness for the purpose of refinancing existing indebtedness and for other permitted purposes under the indentures. | ||||||||||||||||
The Company's March 2012 Secured Credit Facilities contain certain covenants, including covenants relating to collateral coverage, dividend payments, restrictions on fundamental changes, transactions with affiliates, matters relating to the liens granted to the lenders and the delivery of information to the lenders. In particular, the Company is required to maintain collateral coverage of 1.25x outstanding borrowings. In addition, for so long as the Company maintains its qualification as a REIT, the March 2012 Secured Credit Facilities permit the Company to distribute 100% of its REIT taxable income on an annual basis. The Company may not pay common dividends if it ceases to qualify as a REIT. | ||||||||||||||||
The Company's March 2012 Secured Credit Facilities contain cross default provisions that would allow the lenders to declare an event of default and accelerate the Company's indebtedness to them if the Company fails to pay amounts due in respect of its other recourse indebtedness in excess of specified thresholds or if the lenders under such other indebtedness are otherwise permitted to accelerate such indebtedness for any reason. The indentures governing the Company's unsecured public debt securities permit the bondholders to declare an event of default and accelerate the Company's indebtedness to them if the Company's other recourse indebtedness in excess of specified thresholds is not paid at final maturity or if such indebtedness is accelerated. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||
Commitments and Contingencies | Commitments and Contingencies | |||||||||||||||
Unfunded Commitments—The Company generally funds construction and development loans and build-outs of space in net lease assets over a period of time if and when the borrowers and tenants meet established milestones and other performance criteria. The Company refers to these arrangements as Performance-Based Commitments. In addition, the Company sometimes establishes a maximum amount of additional funding which it will make available to a borrower or tenant for an expansion or addition to a project if it approves of the expansion or addition in its sole discretion. The Company refers to these arrangements as Discretionary Fundings. Finally, the Company has committed to invest capital in several real estate funds and other ventures. These arrangements are referred to as Strategic Investments. | ||||||||||||||||
As of December 31, 2014, the maximum amount of fundings the Company may be required to make under each category, assuming all performance hurdles and milestones are met under the Performance-Based Commitments, that it approves all Discretionary Fundings and that 100% of its capital committed to Strategic Investments is drawn down, are as follows ($ in thousands): | ||||||||||||||||
Loans and Other Lending Investments | Real Estate | Other | Total | |||||||||||||
Investments | ||||||||||||||||
Performance-Based Commitments | $ | 537,924 | $ | 14,667 | $ | 27,004 | $ | 579,595 | ||||||||
Strategic Investments | — | — | 45,714 | 45,714 | ||||||||||||
Discretionary Fundings | 5,000 | — | — | 5,000 | ||||||||||||
Total | $ | 542,924 | $ | 14,667 | $ | 72,718 | $ | 630,309 | ||||||||
Other Commitments—Total operating lease expense for the years ended December 31, 2014, 2013 and 2012 were $5.8 million, $6.1 million and $6.5 million, respectively. Future minimum lease obligations under non-cancelable operating leases are as follows ($ in thousands): | ||||||||||||||||
2015 | $ | 5,598 | ||||||||||||||
2016 | 5,598 | |||||||||||||||
2017 | 4,982 | |||||||||||||||
2018 | 4,179 | |||||||||||||||
2019 | 3,442 | |||||||||||||||
Thereafter | 8,266 | |||||||||||||||
The Company has also issued letters of credit totaling $3.7 million in connection with its investments. | ||||||||||||||||
Legal Proceedings—The Company and/or one or more of its subsidiaries is party to various pending litigation matters that are considered ordinary routine litigation incidental to the Company's business as a finance and investment company focused on the commercial real estate industry, including loan foreclosure and foreclosure-related proceedings. In addition to such matters, the Company is a party to the following legal proceedings: | ||||||||||||||||
On March 7, 2014, a shareholder action purporting to assert derivative, class and individual claims was filed in the Circuit Court for Baltimore City, Maryland naming the Company, a number of its current and former senior executives (including its chief executive officer) and current and former directors as defendants. The complaint sought unspecified damages and other relief and alleged breach of fiduciary duty, breach of contract and other causes of action arising out of shares of common stock issued by the Company to its senior executives pursuant to restricted stock unit awards granted in December 2008 and modified in July 2011. On October 30, 2014, the Court granted the defendants’ Motions to Dismiss and plaintiffs’ claims against all of the defendants in this action were dismissed. Plaintiffs have filed a notice of appeal. | ||||||||||||||||
On January 22, 2015, the United States District Court for the District of Maryland (the "Court") entered a judgment in favor of the Company in the matter of U.S. Home Corporation ("Lennar") v. Settlers Crossing, LLC, et al. (Civil Action No. DKC 08-1863). The litigation involved a dispute over the purchase and sale of approximately 1,250 acres of land in Prince George’s County, Maryland. The Court found that the Company was entitled to specific performance and awarded damages to it in the aggregate amount of: (i) the remaining purchase price to be paid by Lennar of $114.0 million; plus (ii) interest on the unpaid amount at a rate of 12% per annum, calculated on a per diem basis, from May 27, 2008, until Lennar proceeds to settlement on the land; plus (iii) real estate taxes paid by the Company in the amount of approximately $1.6 million; plus (iv) actual and reasonable attorneys' fees and costs incurred by the Company in connection with the litigation. The Court ordered Lennar to proceed to settlement on the land and to pay the total amounts awarded to the Company within 30 days of the judgment. A third party is entitled to a 15% participation interest in all proceeds. Lennar has filed a notice of appeal of the Court’s judgment, orders and rulings in the action. There can be no assurance as to the timing or actual receipt by the Company of amounts awarded by the Court or to the outcome of any appeal. | ||||||||||||||||
The Company evaluates, on a quarterly basis, developments in legal proceedings that could require a liability to be accrued and/or disclosed. Based on its current knowledge, and after consultation with legal counsel, the Company believes it is not a party to, nor are any of its properties the subject of, any pending legal proceeding that would have a material adverse effect on the Company's Consolidated Financial Statements. |
Risk_Management_and_Derivative
Risk Management and Derivatives | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||
Risk Management and Derivatives | Derivatives | |||||||||||||||||||||||
Risk management | ||||||||||||||||||||||||
In the normal course of its on-going business operations, the Company encounters economic risk. There are three main components of economic risk: interest rate risk, credit risk and market risk. The Company is subject to interest rate risk to the degree that its interest-bearing liabilities mature or reprice at different points in time and potentially at different bases, than its interest-earning assets. Credit risk is the risk of default on the Company's lending investments or leases that result from a borrower's or tenant's inability or unwillingness to make contractually required payments. Market risk reflects changes in the value of loans and other lending investments due to changes in interest rates or other market factors, including the rate of prepayments of principal and the value of the collateral underlying loans, the valuation of real estate assets by the Company as well as changes in foreign currency exchange rates. | ||||||||||||||||||||||||
Risk concentrations—Concentrations of credit risks arise when a number of borrowers or tenants related to the Company's investments are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. | ||||||||||||||||||||||||
Substantially all of the Company's real estate as well as assets collateralizing its loans receivable are located in the United States. As of December 31, 2014, the only states with a concentration greater than 10.0% were California with 14.6% and New York with 13.9%. As of December 31, 2014, the Company's portfolio contains concentrations in the following asset types: office/industrial 26.7%, land 21.7%, mixed use/mixed collateral 13.0% and entertainment/leisure 11.0%. | ||||||||||||||||||||||||
The Company underwrites the credit of prospective borrowers and tenants and often requires them to provide some form of credit support such as corporate guarantees, letters of credit and/or cash security deposits. Although the Company's loans and real estate assets are geographically diverse and the borrowers and tenants operate in a variety of industries, to the extent the Company has a significant concentration of interest or operating lease revenues from any single borrower or tenant, the inability of that borrower or tenant to make its payment could have an adverse effect on the Company. As of December 31, 2014, the Company's five largest borrowers or tenants collectively accounted for approximately $115 million of the Company's 2014 revenues, of which no single customer accounts for more than 6%. | ||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||
The Company's use of derivative financial instruments is primarily limited to the utilization of interest rate swaps, interest rate caps and foreign exchange contracts. The principal objective of such financial instruments is to minimize the risks and/or costs associated with the Company's operating and financial structure and to manage its exposure to interest rates and foreign exchange rates. Derivatives not designated as hedges are not speculative and are used to manage the Company's exposure to interest rate movements, foreign exchange rate movements, and other identified risks, but may not meet the strict hedge accounting requirements. | ||||||||||||||||||||||||
The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2014 and 2013 ($ in thousands): | ||||||||||||||||||||||||
Derivative Assets as of December 31, | Derivative Liabilities as of December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||||||||||
Location | Value | Location | Value | Location | Value | Location | Value | |||||||||||||||||
Derivatives Designated in Hedging Relationships | ||||||||||||||||||||||||
Foreign exchange contracts | Other Assets | $ | — | Other Assets | $ | 393 | Other Liabilities | $ | 478 | N/A | $ | — | ||||||||||||
Interest rate swaps | Other Assets | 52 | Other Assets | 650 | N/A | — | N/A | — | ||||||||||||||||
Interest rate cap | Other Assets | — | Other Assets | 9,107 | N/A | — | N/A | — | ||||||||||||||||
Total | $ | 52 | $ | 10,150 | $ | 478 | $ | — | ||||||||||||||||
Derivatives not Designated in Hedging Relationships | ||||||||||||||||||||||||
Foreign exchange contracts | Other Assets | $ | 1,534 | Other Assets | $ | 1,025 | N/A | $ | — | Other Liabilities | $ | 1,653 | ||||||||||||
Interest rate cap | Other Assets | $ | 4,775 | N/A | $ | — | N/A | $ | — | N/A | $ | — | ||||||||||||
Total | $ | 6,309 | $ | 1,025 | $ | — | $ | 1,653 | ||||||||||||||||
The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2014, 2013 and 2012 ($ in thousands): | ||||||||||||||||||||||||
Derivatives Designated in Hedging Relationships | Location of Gain (Loss) | Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings | ||||||||||||||||||||
Recognized in Income | (Ineffective Portion) | |||||||||||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||||||||||||
Interest rate cap | Interest Expense | $ | — | $ | (56 | ) | N/A | |||||||||||||||||
Interest rate cap | Other Expense | (2,984 | ) | — | (3,634 | ) | ||||||||||||||||||
Interest rate cap | Earnings from equity method investments | (9 | ) | — | N/A | |||||||||||||||||||
Interest rate swaps | Interest Expense | (970 | ) | (6 | ) | N/A | ||||||||||||||||||
Interest rate swap | Earnings from equity method investments | (753 | ) | (420 | ) | N/A | ||||||||||||||||||
Foreign exchange contracts | Earnings from equity method investments | (471 | ) | — | N/A | |||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||
Interest rate cap | Interest Expense | (1,517 | ) | — | N/A | |||||||||||||||||||
Interest rate swap | Interest Expense | 869 | (310 | ) | N/A | |||||||||||||||||||
Foreign exchange contracts | Earnings from equity method investments | 393 | — | N/A | ||||||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||
Interest rate swap | Interest Expense | (968 | ) | 44 | N/A | |||||||||||||||||||
Amount of Gain or (Loss) Recognized in Income | ||||||||||||||||||||||||
Location of Gain or | For the Years Ended December 31, | |||||||||||||||||||||||
(Loss) Recognized in | ||||||||||||||||||||||||
Derivatives not Designated in Hedging Relationships | Income | 2014 | 2013 | 2012 | ||||||||||||||||||||
Interest rate cap | Other Expense | $ | (1,347 | ) | $ | — | $ | — | ||||||||||||||||
Foreign exchange contracts | Other Expense | 7,257 | 880 | (8,920 | ) | |||||||||||||||||||
Foreign Exchange Contracts—The Company is exposed to fluctuations in foreign exchange rates on investments it holds in foreign entities. The Company uses foreign exchange contracts to hedge its exposure to changes in foreign exchange rates on its foreign investments. Foreign exchange contracts involve fixing the U.S. dollar ("USD") to the respective foreign currency exchange rate for delivery of a specified amount of foreign currency on a specified date. The foreign exchange contracts are typically cash settled in USD for their fair value at or close to their settlement date. | ||||||||||||||||||||||||
For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of Accumulated Other Comprehensive Income into earnings when the hedged foreign entity is either sold or substantially liquidated. In January 2014, the Company entered into a foreign exchange contract to hedge its exposure in a subsidiary whose functional currency is Indian rupee ("INR"). The foreign exchange contract replaced an existing contract which matured in January 2014. As of December 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ in thousands): | ||||||||||||||||||||||||
Derivative Type | Notional | Notional | Maturity | |||||||||||||||||||||
Amount | (USD Equivalent) | |||||||||||||||||||||||
Sells INR/Buys USD Forward | ₨ | 456,000 | $ | 6,534 | Jun-15 | |||||||||||||||||||
For derivatives not designated as net investment hedges, the changes in the fair value of the derivatives are reported in the Company's Consolidated Statements of Operations within "Other Expense." As of December 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($ in thousands): | ||||||||||||||||||||||||
Derivative Type | Notional | Notional | Maturity | |||||||||||||||||||||
Amount | (USD Equivalent) | |||||||||||||||||||||||
Sells euro ("EUR")/Buys USD Forward | € | 18,800 | $ | 23,807 | Jan-15 | |||||||||||||||||||
Sells pound sterling ("GBP")/Buys USD Forward | £ | 3,000 | $ | 4,830 | Jan-15 | |||||||||||||||||||
Sells Canadian dollar ("CAD")/Buys USD Forward | C$ | 10,000 | $ | 8,933 | Jan-15 | |||||||||||||||||||
The Company marks its foreign investments each quarter based on current exchange rates and records the gain or loss through "Other expense" on its Consolidated Statements of Operations for loan investments or "Accumulated other comprehensive income (loss)," on its Consolidated Balance Sheets for net investments in foreign subsidiaries. The Company recorded net gains (losses) related to foreign investments of $0.1 million, $(2.0) million and $(0.7) million during the years ended December 31, 2014, 2013 and 2012, respectively, in its Consolidated Statements of Operations. | ||||||||||||||||||||||||
Interest Rate Hedges—For derivatives designated as interest rate hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income (Loss). The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. In October 2012, the Company entered into an interest rate swap to convert its variable rate debt to fixed rate on a $28.0 million secured term loan maturing in 2019. As of December 31, 2014, the Company had the following outstanding interest rate swap that was used to hedge its variable rate debt that was designated ($ in thousands): | ||||||||||||||||||||||||
Derivative Type | Notional | Variable Rate | Fixed Rate | Effective Date | Maturity | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
Interest rate swap | $ | 27,456 | LIBOR + 2.00% | 3.47% | Oct-12 | Nov-19 | ||||||||||||||||||
For derivatives not designated as interest rate hedges, the changes in the fair value of the derivatives are reported in the Company's Consolidated Statements of Operations within "Other Expense." In August 2013, the Company entered into an interest rate cap agreement to reduce exposure to expected increases in future interest rates and the resulting payments associated with variable interest rate debt. In June 2014, in connection with the full repayment and termination of the Company's February 2013 Secured Credit Facility referenced in Note 8, the Company realized amounts in earnings from other comprehensive income (loss) as a portion of a hedge related to the Company's variable rate debt was no longer expected to be highly effective. The amount realized was a loss of $3.6 million recorded as a component of "Other expense" in the Company's Consolidated Statements of Operations. As of December 31, 2014, the Company had the following outstanding interest rate cap that was used to hedge its variable rate debt that was not designated ($ in thousands): | ||||||||||||||||||||||||
Derivative Type | Notional | Variable Rate | Fixed Rate | Effective Date | Maturity | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
Interest rate cap | $ | 500,000 | LIBOR | 1.00% | Jul-14 | Jul-17 | ||||||||||||||||||
Over the next 12 months, the Company expects that $0.1 million related to terminated cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" into interest expense and $0.7 million relating to other cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" into earnings. | ||||||||||||||||||||||||
Credit Risk-Related Contingent Features—The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. | ||||||||||||||||||||||||
In connection with its foreign currency derivatives, as of December 31, 2014 and 2013, the Company has posted collateral of $3.0 million and $7.2 million, respectively, which is included in "Restricted cash" on the Company's Consolidated Balance Sheets. |
Equity
Equity | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||
Equity | Equity | ||||||||||||||||||
Preferred Stock—The Company had the following series of Cumulative Redeemable and Convertible Perpetual Preferred Stock outstanding as of December 31, 2014 and 2013: | |||||||||||||||||||
Cumulative Preferential Cash | |||||||||||||||||||
Dividends(1)(2) | |||||||||||||||||||
Series | Shares Issued and | Par Value | Liquidation Preference | Rate per Annum | Equivalent to | ||||||||||||||
Outstanding | Fixed Annual | ||||||||||||||||||
(in thousands) | Rate (per share) | ||||||||||||||||||
D | 4,000 | $ | 0.001 | $ | 25 | 8 | % | $ | 2 | ||||||||||
E | 5,600 | 0.001 | 25 | 7.875 | % | 1.97 | |||||||||||||
F | 4,000 | 0.001 | 25 | 7.8 | % | 1.95 | |||||||||||||
G | 3,200 | 0.001 | 25 | 7.65 | % | 1.91 | |||||||||||||
I | 5,000 | 0.001 | 25 | 7.5 | % | 1.88 | |||||||||||||
J | 4,000 | 0.001 | 50 | 4.5 | % | 2.25 | |||||||||||||
25,800 | |||||||||||||||||||
Explanatory Notes: | |||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||
-1 | Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date. | ||||||||||||||||||
-2 | The Company declared and paid dividends of $8.0 million, $11.0 million, $7.8 million, $6.1 million and $9.4 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the years ended December 31, 2014 and 2013. The Company declared and paid dividends of $9.0 million and $6.7 million on its Series J Convertible Perpetual Preferred Stock during the years ended December 31, 2014 and 2013, respectively. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding. | ||||||||||||||||||
High Performance Unit Program | |||||||||||||||||||
In May 2002, the Company's shareholders approved the iStar Financial High Performance Unit ("HPU") Program. The program entitled employee participants ("HPU Holders") to receive distributions if the total rate of return on the Company's Common Stock (share price appreciation plus dividends) exceeded certain performance thresholds over a specified valuation period. The Company established seven HPU plans that had valuation periods ending between 2002 and 2008 and the Company has not established any new HPU plans since 2005. HPU Holders purchased interests in the High Performance Common Stock for an aggregate initial purchase price of $9.8 million. The remaining four plans that had valuation periods which ended in 2005, 2006, 2007 and 2008, did not meet their required performance thresholds, none of the plans were funded and the Company redeemed the participants' units. | |||||||||||||||||||
The 2002, 2003 and 2004 plans all exceeded their performance thresholds and are entitled to receive distributions equivalent to the amount of dividends payable on 819,254 shares, 987,149 shares and 1,031,875 shares, respectively, of the Company's Common Stock as and when such dividends are paid on the Company's Common Stock. Each of these three plans has 5,000 shares of High Performance Common Stock associated with it, which is recorded as a separate class of stock within shareholders' equity on the Company's Consolidated Balance Sheets. High Performance Common Stock carries 0.25 votes per share. Net income allocable to common shareholders is reduced by the HPU holders' share of earnings. | |||||||||||||||||||
Dividends—In order to maintain its election to qualify as a REIT, the Company must currently distribute, at a minimum, an amount equal to 90% of its taxable income, excluding net capital gains, and must distribute 100% of its taxable income (including net capital gains) to avoid paying corporate federal income taxes. The Company has recorded net operating losses and may record net operating losses in the future, which may reduce its taxable income in future periods and lower or eliminate entirely the Company's obligation to pay dividends for such periods in order to maintain its REIT qualification. As of December 31, 2013, the Company had $759.8 million of net operating loss carryforwards at the corporate REIT level that can generally be used to offset both ordinary and capital taxable income in future years and will expire through 2033 if unused. The amount of net operating loss carryforwards as of December 31, 2014 will be determined upon finalization of the Company's 2014 tax return. Because taxable income differs from cash flow from operations due to non-cash revenues and expenses (such as depreciation and certain asset impairments), in certain circumstances, the Company may generate operating cash flow in excess of its dividends or, alternatively, may need to make dividend payments in excess of operating cash flows. The Company's 2012 Tranche A-2 Facility permits the Company to distribute 100% of its REIT taxable income on an annual basis, for so long as the Company maintains its qualification as a REIT. The 2012 Tranche A-2 Facility restricts the Company from paying any common dividends if it ceases to qualify as a REIT. The Company did not declare or pay any Common Stock dividends for the years ended December 31, 2014 and 2013. | |||||||||||||||||||
Stock Repurchase Programs—In September 2013, the Company's Board of Directors approved an increase in the repurchase limit under the Company's previously approved stock repurchase program to $50.0 million. The program authorizes the repurchase of Common Stock from time to time in open market and privately negotiated purchases, including pursuant to one or more trading plans. During the year ended December 31, 2013, the Company repurchased 1.7 million shares of its outstanding Common Stock for $21.0 million, at an average cost of $12.35 per share. There were no stock repurchases during the year ended December 31, 2014. As of December 31, 2014, the Company had up to $29.0 million of Common Stock available to repurchase under its Board authorized stock repurchase program. | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss)—"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands): | |||||||||||||||||||
As of December 31, | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | $ | 2,983 | $ | (294 | ) | ||||||||||||||
Unrealized gains (losses) on cash flow hedges | (409 | ) | 662 | ||||||||||||||||
Unrealized losses on cumulative translation adjustment | (3,545 | ) | (4,644 | ) | |||||||||||||||
Accumulated other comprehensive income (loss) | $ | (971 | ) | $ | (4,276 | ) |
StockBased_Compensation_Plans_
Stock-Based Compensation Plans and Employee Benefits | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Stock-Based Compensation Plans and Employee Benefits | Stock-Based Compensation Plans and Employee Benefits | |||||||||||
On May 22, 2014, the Company's shareholders approved the 2013 Performance Incentive Plan ("iPIP") which is designed to provide, primarily to senior executives and select professionals engaged in the Company's investment activities, long-term compensation which has a direct relationship to the realized returns on investments included in the plan. In 2014, the Company granted 83 iPIP points for the initial 2013-2014 investment pool. All decisions regarding the granting of points under iPIP are made at the discretion of the Board of Directors or a committee of the Board of Directors. The fair value of points are determined using a model that forecasts the Company's projected investment performance. The payout of iPIP is based on the amount of invested capital, investment performance and the Company's total shareholder return, or TSR, as compared to the average TSR of the NAREIT All REIT Index and the Russell 2000 Index during the relevant performance period for the investments in each pool. The Company, as well as any companies not included in each index at the beginning and end of the performance period, are excluded from calculation of the performance of such index. Point holders will not receive a distribution until the Company has received a full return of its capital plus a preferred return distribution, which is based on a preferred return hurdle rate of 9% per annum. Subject to certain vesting and employment requirements, point holders will be paid a combination of cash and stock. iPIP is a liability-classified award which will be remeasured each reporting period at fair value until the awards are settled. Compensation costs relating to iPIP are included in "General and administrative" on the Company's Consolidated Statements of Operations. | ||||||||||||
The Company's shareholders approved the Company's 2009 Long-Term Incentive Plan (the "2009 LTIP") which is designed to provide incentive compensation for officers, key employees, directors and advisors of the Company. The 2009 LTIP provides for awards of stock options, shares of restricted stock, phantom shares, restricted stock units, dividend equivalent rights and other share-based performance awards. A maximum of 8,000,000 shares of Common Stock may be awarded under the 2009 LTIP, plus up to an additional 500,000 shares to the extent that a corresponding number of equity awards previously granted under the Company's 1996 Long-Term Incentive Plan expire or are canceled or forfeited. All awards under the 2009 LTIP are made at the discretion of the Board of Directors or a committee of the Board of Directors. | ||||||||||||
The Company's 2006 Long-Term Incentive Plan (the "2006 LTIP") is designed to provide equity-based incentive compensation for officers, key employees, directors, consultants and advisors of the Company. The 2006 LTIP provides for awards of stock options, shares of restricted stock, phantom shares, dividend equivalent rights and other share-based performance awards. A maximum of 4,550,000 shares of Common Stock may be subject to awards under the 2006 LTIP provided that the number of shares of Common Stock reserved for grants of options designated as incentive stock options is 1.0 million, subject to certain anti-dilution provisions in the 2006 LTIP. All awards under this Plan are at the discretion of the Board of Directors or a committee of the Board of Directors. | ||||||||||||
As of December 31, 2014, an aggregate of 4.0 million shares remain available for issuance pursuant to future awards under the Company's 2006 and 2009 Long-Term Incentive Plans. | ||||||||||||
The Company's 2007 Incentive Compensation Plan ("Incentive Plan") was approved and adopted by the Board of Directors in 2007 in order to establish performance goals for selected officers and other key employees and to determine bonuses that will be awarded to those officers and other key employees based on the extent to which they achieve those performance goals. Equity-based awards may be made under the Incentive Plan, subject to the terms of the Company's equity incentive plans. | ||||||||||||
Stock-Based Compensation—The Company recorded stock-based compensation expense of $13.3 million, $19.3 million and $15.3 million for the years ended December 31, 2014, 2013 and 2012 in "General and administrative" on the Company's Consolidated Statements of Operations. As of December 31, 2014, there was $2.2 million of total unrecognized compensation cost related to all unvested restricted stock units that are expected to be recognized over a weighted average remaining vesting/service period of 1.42 years. As of December 31, 2014, approximately $8.7 million of stock-based compensation was included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. | ||||||||||||
Restricted Stock Units | ||||||||||||
Changes in non-vested restricted stock units, or Units, during the year ended December 31, 2014 were as follows ($ in thousands, except per share amounts): | ||||||||||||
Number | Weighted Average | Aggregate | ||||||||||
of Shares | Grant Date | Intrinsic | ||||||||||
Fair Value | Value | |||||||||||
Per Share | ||||||||||||
Non-vested at December 31, 2013 | 2,779 | $ | 5.85 | $ | 39,659 | |||||||
Granted | 306 | $ | 15.31 | |||||||||
Vested | (2,757 | ) | $ | 6.09 | ||||||||
Forfeited | (8 | ) | $ | 15.69 | ||||||||
Non-vested at December 31, 2014 | 320 | $ | 12.57 | $ | 4,367 | |||||||
The total fair value of Units vested during the years ended December 31, 2014, 2013 and 2012 was $39.2 million, $31.6 million and $29.1 million, respectively. | ||||||||||||
2014 Activity—During the year ended December 31, 2014, the Company issued a total of 1,369,809 shares of our Common Stock to employees, net of statutory minimum required tax withholdings, upon the vesting of 2,757,427 Units that were previously granted. These vested Units were primarily comprised of the following: | ||||||||||||
• | 1,696,053 service-based Units granted to certain employees in 2008 that vested in January 2014; | |||||||||||
• | 80,000 service-based Units granted to certain employees in 2011 and 2013 that vested in 2014; and | |||||||||||
• | 600,000 service-based Units granted to the Company's Chairman and Chief Executive Officer in October 2011 that vested in June 2014. | |||||||||||
• | 381,374 of performance-based Units, granted on February 1, 2013. The Units vested based on the Company's total shareholder return, or TSR, measured over a performance period ending on the vesting date of December 31, 2014. Under the terms of these Units, vesting ranged from 0% to 200% of the target amount of the awards, depending on the Company's TSR performance relative to the NAREIT All REITs Index (one-half of the target amount of the award) and the Russell 2000 Index (one-half of the target amount of the award) during the performance period. The Company and any companies not included in the index at the beginning and end of the performance period were excluded from calculation of the performance of such index. Based on the Company's TSR performance, the Units vested in an amount equal to 195.5% of the target amount of the original awards of 195,076 Units resulting in an additional 186,298 shares granted. | |||||||||||
During the year ended December 31, 2014, the Company granted new stock-based compensation awards to certain employees in the form of long-term incentive awards, comprised of the following: | ||||||||||||
• | Effective January 10, 2014, the Company granted 67,637 service-based Units representing the right to receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The Units will cliff vest in one installment on December 31, 2016, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its Common Stock, but will not be paid unless and until the Units vest and are settled. As of December 31, 2014, 64,552 of such service-based Units were outstanding. | |||||||||||
• | Effective January 10, 2014, the Company granted 51,726 target amount of performance-based Units based on the Company's TSR measured over a performance period ending on December 31, 2016, which is the date the awards cliff vest. Vesting will range from 0% to 200% of the target amount of the award, depending on the Company's TSR performance relative to the NAREIT All REITs Index (one-half of the target amount of the award) and the Russell 2000 Index (one-half of the target amount of the award) during the performance period. The Company, as well as any companies not included in each index at the beginning and end of the performance period, are excluded from calculation of the performance of such index. To the extent Units vest based on the Company's TSR performance, holders will receive an equivalent number of shares of our Common Stock (after deducting shares for minimum required statutory withholdings), if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its Common Stock, but will not be paid unless and until the Units vest and are settled. The fair values of the performance-based Units were determined by utilizing a Monte Carlo model to simulate a range of possible future stock prices for the Company's Common Stock. The assumptions used to estimate the fair value of these performance-based awards were 0.76% for risk-free interest rate and 44.84% for expected stock price volatility. As of December 31, 2014, 50,116 of such performance-based Units were outstanding. | |||||||||||
As of December 31, 2014, the Company had the following additional stock-based compensation awards outstanding: | ||||||||||||
• | 194,582 service-based Units, granted on February 1, 2013, representing the right to receive an equivalent number of shares of the Company's Common Stock (after deducting shares for minimum required statutory withholdings) if and when the Units vest. The Units will cliff vest in one installment on February 1, 2016, three years from the grant date, if the employee remains employed by the Company on the vesting date, subject to certain accelerated vesting rights. Dividends will accrue as and when dividends are declared by the Company on shares of its Common Stock, but will not be paid unless and until the Units vest and are settled. | |||||||||||
• | 10,666 service-based Units granted on various dates to employees with an original vesting term of three years. Upon vesting of these units, holders will receive shares of the Company's Common Stock in the amount of the vested units, net of statutory minimum required tax withholdings. Dividends will accrue as and when dividends are declared by the Company on shares of its Common Stock, but will not be paid unless and until the Units vest and are settled. | |||||||||||
Restricted Shares | ||||||||||||
• | During the year ended December 31, 2014, the Company granted 235,414 shares of our Common Stock to certain employees as part of annual incentive awards that included a mix of cash and equity awards. The weighted average grant date fair value per share of these awards was $14.89 and the total fair value was $3.5 million. The shares are fully-vested and 132,653 shares were issued net of statutory minimum required tax withholdings. The employees are restricted from selling these shares for up to two years from the date of grant. | |||||||||||
Directors' Awards—Non-employee directors are awarded common stock equivalents, or CSEs, or restricted shares at the time of the annual shareholders' meeting in consideration for their services on the Company's Board of Directors. The CSEs and restricted shares generally vest at the time of the next annual shareholders meeting and pay dividends in an amount equal to the dividends paid on an equivalent number of shares of the Company's Common Stock from the date of grant, as and when dividends are paid on the Common Stock. | ||||||||||||
During the year ended December 31, 2014, the Company awarded a total of 8,602 CSEs and 39,570 restricted shares to non-employee Directors pursuant to the Company's Non-Employee Directors Deferral Plan, at a fair value per share of $14.46 at the time of grant. In addition, during the year ended December 31, 2014, the Company issued 55,076 shares of our Common Stock to a former director in settlement of previously vested CSE awards granted under the Non-Employee Directors Deferral Plan. As of December 31, 2014, a total of 278,471 CSEs and restricted shares of our Common Stock granted to members of the Company's Board of Directors remained outstanding under such Plan, with an aggregate intrinsic value of $3.8 million. | ||||||||||||
401(k) Plan—The Company has a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50% of the first 10% of the participant's annual compensation. The Company made gross contributions of $0.9 million each year for the years ended December 31, 2014, 2013 and 2012. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share | Earnings Per Share | |||||||||||
EPS is calculated using the two-class method, which allocates earnings among common stock and participating securities to calculate EPS when an entity's capital structure includes either two or more classes of common stock or common stock and participating securities. HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit (HPU) Program. These HPU units are treated as a separate class of common stock. | ||||||||||||
The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted earnings per share calculations ($ in thousands, except for per share data): | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income (loss) from continuing operations | $ | (74,178 | ) | $ | (220,768 | ) | $ | (314,678 | ) | |||
Net (income) loss attributable to noncontrolling interests | 704 | (718 | ) | 1,500 | ||||||||
Income from sales of real estate | 89,943 | 86,658 | 63,472 | |||||||||
Preferred dividends | (51,320 | ) | (49,020 | ) | (42,320 | ) | ||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders | $ | (34,851 | ) | $ | (183,848 | ) | $ | (292,026 | ) | |||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings allocable to common shares: | ||||||||||||
Numerator for basic and diluted earnings per share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,722 | ) | $ | (177,907 | ) | $ | (282,452 | ) | |||
Income (loss) from discontinued operations | — | 623 | (16,908 | ) | ||||||||
Gain from discontinued operations | — | 21,515 | 26,363 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,722 | ) | $ | (155,769 | ) | $ | (272,997 | ) | |||
Denominator for basic and diluted earnings per share: | ||||||||||||
Weighted average common shares outstanding for basic and diluted earnings per common share | 85,031 | 84,990 | 83,742 | |||||||||
Basic and diluted earnings per common share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) | $ | (2.09 | ) | $ | (3.37 | ) | |||
Income (loss) from discontinued operations | — | 0.01 | (0.20 | ) | ||||||||
Gain from discontinued operations | — | 0.25 | 0.31 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) | $ | (1.83 | ) | $ | (3.26 | ) | |||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings allocable to High Performance Units: | ||||||||||||
Numerator for basic and diluted earnings per HPU share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,129 | ) | $ | (5,941 | ) | $ | (9,574 | ) | |||
Income (loss) from discontinued operations | — | 21 | (573 | ) | ||||||||
Gain from discontinued operations | — | 718 | 894 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,129 | ) | $ | (5,202 | ) | $ | (9,253 | ) | |||
Denominator for basic and diluted earnings per HPU share: | ||||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | |||||||||
Basic and diluted earnings per HPU share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (75.27 | ) | $ | (396.07 | ) | $ | (638.27 | ) | |||
Income (loss) from discontinued operations | — | 1.4 | (38.20 | ) | ||||||||
Gain from discontinued operations | — | 47.87 | 59.6 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (75.27 | ) | $ | (346.80 | ) | $ | (616.87 | ) | |||
For the years ended December 31, 2014, 2013 and 2012, the following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands): | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2014(1) | 2013(1) | 2012(1) | ||||||||||
Joint venture shares | 298 | 298 | 298 | |||||||||
3.00% convertible senior unsecured notes | 16,992 | 16,992 | — | |||||||||
Series J convertible perpetual preferred stock | 15,635 | 15,635 | — | |||||||||
1.50% convertible senior unsecured notes | 11,567 | 11,567 | — | |||||||||
Explanatory Note: | ||||||||||||
_______________________________________________________________________________ | ||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, the effect of the Company's unvested Units, performance-based Units and CSEs were anti-dilutive. |
Fair_Values
Fair Values | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Values | Fair Values | |||||||||||||||
Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following fair value hierarchy prioritizes the inputs to be used in valuation techniques to measure fair value: | ||||||||||||||||
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | ||||||||||||||||
Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | ||||||||||||||||
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | ||||||||||||||||
Certain of the Company's assets and liabilities are recorded at fair value either on a recurring or non-recurring basis. Assets required to be marked-to-market and reported at fair value every reporting period are classified as being valued on a recurring basis. Assets not required to be recorded at fair value every period may be recorded at fair value if a specific provision or other impairment is recorded within the period to mark the carrying value of the asset to market as of the reporting date. Such assets are classified as being valued on a non-recurring basis. | ||||||||||||||||
The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands): | ||||||||||||||||
Fair Value Using | ||||||||||||||||
Total | Quoted market | Significant other | Significant | |||||||||||||
prices in | observable | unobservable | ||||||||||||||
active markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
As of December 31, 2014 | ||||||||||||||||
Recurring basis: | ||||||||||||||||
Derivative assets | $ | 6,361 | $ | — | $ | 6,361 | $ | — | ||||||||
Derivative liabilities | 478 | — | 478 | — | ||||||||||||
Available-for-sale securities | 7,906 | 7,906 | — | — | ||||||||||||
Non-recurring basis: | ||||||||||||||||
Impaired loans(1) | 37,169 | — | — | 37,169 | ||||||||||||
Impaired real estate(2) | 7,102 | — | — | 7,102 | ||||||||||||
As of December 31, 2013 | ||||||||||||||||
Recurring basis: | ||||||||||||||||
Derivative assets | $ | 11,175 | $ | — | $ | 11,175 | $ | — | ||||||||
Derivative liabilities | 1,653 | — | 1,653 | — | ||||||||||||
Available-for-sale securities | 505 | 505 | — | — | ||||||||||||
Non-recurring basis: | ||||||||||||||||
Impaired loans | 115,423 | — | — | 115,423 | ||||||||||||
Impaired real estate | 35,680 | — | 5,744 | 29,936 | ||||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.50 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner. | |||||||||||||||
-2 | The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term. | |||||||||||||||
Fair values of financial instruments—The Company's estimated fair values of its loans receivable and other lending investments and debt obligations were $1.4 billion and $4.1 billion, respectively, as of December 31, 2014 and $1.4 billion and $4.5 billion, respectively, as of December 31, 2013. The Company determined that the significant inputs used to value its loans receivable and other lending investments and debt obligations fall within Level 3 of the fair value hierarchy. The carrying value of other financial instruments including cash and cash equivalents, restricted cash, accrued interest receivable and accounts payable, approximate the fair values of the instruments. Cash and cash equivalents and restricted cash values are considered Level 1 on the fair value hierarchy. The fair value of other financial instruments, including derivative assets and liabilities, are included in the fair value hierarchy table above. | ||||||||||||||||
Given the nature of certain assets and liabilities, clearly determinable market based valuation inputs are often not available, therefore, these assets and liabilities are valued using internal valuation techniques. Subjectivity exists with respect to these internal valuation techniques, therefore, the fair values disclosed may not ultimately be realized by the Company if the assets were sold or the liabilities were settled with third parties. The methods the Company used to estimate the fair values presented in the three tables above are described more fully below for each type of asset and liability. | ||||||||||||||||
Derivatives—The Company uses interest rate swaps, interest rate caps and foreign exchange contracts to manage its interest rate and foreign currency risk. The valuation of these instruments is determined using discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty's non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Derivative financial instruments subject to master netting agreements are measured on a net basis. The Company has determined that the significant inputs used to value its derivatives fall within Level 2 of the fair value hierarchy. | ||||||||||||||||
Impaired loans—The Company's loans identified as being impaired are nearly all collateral dependent loans and are evaluated for impairment by comparing the estimated fair value of the underlying collateral, less costs to sell, to the carrying value of each loan. Due to the nature of the individual properties collateralizing the Company's loans, the Company generally uses a discounted cash flow methodology through internally developed valuation models to estimate the fair value of the collateral. This approach requires the Company to make judgments in respect to significant unobservable inputs, which may include discount rates, capitalization rates and the timing and amounts of estimated future cash flows. For income producing properties, cash flows generally include property revenues, operating costs and capital expenditures that are based on current observable market rates and estimates for market rate growth and occupancy levels. For other real estate, cash flows may include lot and unit sales that are based on current observable market rates and estimates for annual revenue growth, operating costs and costs of completion and the remaining inventory sell out periods. The Company will also consider market comparables if available. In more limited cases, the Company obtains external "as is" appraisals for loan collateral, generally when third party participations exist, and appraised values may be discounted when real estate markets rapidly deteriorate. The Company has determined that significant inputs used in its internal valuation models and appraisals fall within Level 3 of the fair value hierarchy. | ||||||||||||||||
Impaired real estate—If the Company determines a real estate asset available and held for sale is impaired, it records an impairment charge to adjust the asset to its estimated fair market value less costs to sell. Due to the nature of individual real estate properties, the Company generally uses a discounted cash flow methodology through internally developed valuation models to estimate the fair value of the assets. This approach requires the Company to make judgments with respect to significant unobservable inputs, which may include discount rates, capitalization rates and the timing and amounts of estimated future cash flows. For income producing properties, cash flows generally include property revenues, operating costs and capital expenditures that are based on current observable market rates and estimates for market rate growth and occupancy levels. For other real estate, cash flows may include lot and unit sales that are based on current observable market rates and estimates for annual market rate growth, operating costs and costs of completion and the remaining inventory sell out periods. The Company will also consider market comparables if available. In more limited cases, the Company obtains external "as is" appraisals for real estate assets and appraised values may be discounted when real estate markets rapidly deteriorate. The Company has determined that significant inputs used in its internal valuation models and appraisals fall within Level 3 of the fair value hierarchy. Additionally, in certain cases, if the Company is under contract to sell an asset, it will mark the asset to the contracted sales price less costs to sell. The Company considers this to be a Level 2 input under the fair value hierarchy. | ||||||||||||||||
Loans receivable and other lending investments—The Company estimates the fair value of its performing loans and other lending investments using a discounted cash flow methodology. This method discounts estimated future cash flows using rates management determines best reflect current market interest rates that would be offered for loans with similar characteristics and credit quality. The Company determined that the significant inputs used to value its loans and other lending investments fall within Level 3 of the fair value hierarchy. For certain lending investments, the Company uses market quotes, to the extent they are available, that fall within Level 2 of the fair value hierarchy or broker quotes that fall within Level 3 of the fair value hierarchy. | ||||||||||||||||
Debt obligations, net—For debt obligations traded in secondary markets, the Company uses market quotes, to the extent they are available, to determine fair value and are considered Level 2 on the fair value hierarchy. For debt obligations not traded in secondary markets, the Company determines fair value using a discounted cash flow methodology, whereby contractual cash flows are discounted at rates that management determines best reflect current market interest rates that would be charged for debt with similar characteristics and credit quality. The Company has determined that the inputs used to value its debt obligations under the discounted cash flow methodology fall within Level 3 of the fair value hierarchy. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Segment Reporting | Segment Reporting | |||||||||||||||||||||||
The Company has determined that it has four reportable segments based on how management reviews and manages its business. These reportable segments include: Real Estate Finance, Net Lease, Operating Properties and Land. The Real Estate Finance segment includes all of the Company's activities related to senior and mezzanine real estate loans and real estate related securities. The Net Lease segment includes all of the Company's activities related to the ownership and leasing of corporate facilities. The Operating Properties segment includes all of the Company's activities and operations related to its commercial and residential properties. The Land segment includes the Company's activities related to its developable land portfolio. | ||||||||||||||||||||||||
The Company evaluates performance based on the following financial measures for each segment. The Company's segment information is as follows ($ in thousands): | ||||||||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
Year Ended December 31, 2014: | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 151,934 | $ | 90,331 | $ | 835 | $ | — | $ | 243,100 | ||||||||||||
Interest income | 122,704 | — | — | — | — | 122,704 | ||||||||||||||||||
Other income | 21,217 | 4,437 | 42,000 | 3,327 | 10,052 | 81,033 | ||||||||||||||||||
Land sales revenue | — | — | — | 15,191 | — | 15,191 | ||||||||||||||||||
Total revenue | 143,921 | 156,371 | 132,331 | 19,353 | 10,052 | 462,028 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 3,260 | 1,669 | 14,966 | 75,010 | 94,905 | ||||||||||||||||||
Income from sales of real estate | — | 6,206 | 83,737 | — | — | 89,943 | ||||||||||||||||||
Revenue and other earnings | 143,921 | 165,837 | 217,737 | 34,319 | 85,062 | 646,876 | ||||||||||||||||||
Real estate expense | — | (22,967 | ) | (113,504 | ) | (26,918 | ) | — | (163,389 | ) | ||||||||||||||
Land cost of sales | — | — | — | (12,840 | ) | — | (12,840 | ) | ||||||||||||||||
Other expense | (243 | ) | — | — | — | (5,578 | ) | (5,821 | ) | |||||||||||||||
Allocated interest expense | (58,043 | ) | (72,089 | ) | (39,535 | ) | (29,432 | ) | (25,384 | ) | (224,483 | ) | ||||||||||||
Allocated general and administrative(2) | (13,314 | ) | (16,736 | ) | (9,684 | ) | (13,170 | ) | (22,588 | ) | (75,492 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 72,321 | $ | 54,045 | $ | 55,014 | $ | (48,041 | ) | $ | 31,512 | $ | 164,851 | |||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | (1,714 | ) | $ | — | $ | — | $ | — | $ | — | $ | (1,714 | ) | ||||||||||
Impairment of assets | — | 3,689 | 8,131 | 22,814 | — | 34,634 | ||||||||||||||||||
Depreciation and amortization | — | 38,841 | 32,142 | 1,440 | 1,148 | 73,571 | ||||||||||||||||||
Capitalized expenditures | — | 3,933 | 61,186 | 80,119 | — | 145,238 | ||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 147,313 | $ | 86,352 | $ | 902 | $ | — | $ | 234,567 | ||||||||||||
Interest income | 108,015 | — | — | — | — | 108,015 | ||||||||||||||||||
Other income | 4,748 | 250 | 38,164 | 1,474 | 3,572 | 48,208 | ||||||||||||||||||
Total revenue | 112,763 | 147,563 | 124,516 | 2,376 | 3,572 | 390,790 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 2,699 | 5,546 | (5,331 | ) | 38,606 | 41,520 | |||||||||||||||||
Income from sales of real estate | — | — | 82,603 | 4,055 | — | 86,658 | ||||||||||||||||||
Income (loss) from discontinued operations(4) | — | 1,484 | 1,251 | — | — | 2,735 | ||||||||||||||||||
Gain from discontinued operations | — | 3,395 | 18,838 | — | — | 22,233 | ||||||||||||||||||
Revenue and other earnings | 112,763 | 155,141 | 232,754 | 1,100 | 42,178 | 543,936 | ||||||||||||||||||
Real estate expense | — | (22,565 | ) | (101,044 | ) | (33,832 | ) | — | (157,441 | ) | ||||||||||||||
Other expense | (1,625 | ) | — | — | — | (6,425 | ) | (8,050 | ) | |||||||||||||||
Allocated interest expense(5) | (74,377 | ) | (80,034 | ) | (49,114 | ) | (30,368 | ) | (32,332 | ) | (266,225 | ) | ||||||||||||
Allocated general and administrative(2) | (13,186 | ) | (14,330 | ) | (9,189 | ) | (12,365 | ) | (23,783 | ) | (72,853 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 23,575 | $ | 38,212 | $ | 73,407 | $ | (75,465 | ) | $ | (20,362 | ) | $ | 39,367 | ||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | 5,489 | $ | — | $ | — | $ | — | $ | — | $ | 5,489 | ||||||||||||
Impairment of assets(5) | — | 1,176 | 12,449 | 728 | — | 14,353 | ||||||||||||||||||
Loss on transfer of interest to unconsolidated subsidiary | — | — | — | 7,373 | — | 7,373 | ||||||||||||||||||
Depreciation and amortization(5) | — | 38,582 | 30,599 | 1,105 | 1,244 | 71,530 | ||||||||||||||||||
Capitalized expenditures | — | 34,076 | 41,131 | 36,346 | — | 111,553 | ||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 149,058 | $ | 65,706 | $ | 1,527 | $ | — | $ | 216,291 | ||||||||||||
Interest income | 133,410 | — | — | — | — | 133,410 | ||||||||||||||||||
Other income | 8,613 | — | 32,615 | 2,635 | 3,975 | 47,838 | ||||||||||||||||||
Total revenue | 142,023 | 149,058 | 98,321 | 4,162 | 3,975 | 397,539 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 2,632 | 25,142 | (6,138 | ) | 81,373 | 103,009 | |||||||||||||||||
Income from sales of real estate | — | — | 63,472 | — | — | 63,472 | ||||||||||||||||||
Income (loss) from discontinued operations(4) | — | 7,289 | 886 | — | — | 8,175 | ||||||||||||||||||
Gain from discontinued operations | — | 27,257 | — | — | — | 27,257 | ||||||||||||||||||
Revenue and other earnings | 142,023 | 186,236 | 187,821 | (1,976 | ) | 85,348 | 599,452 | |||||||||||||||||
Real estate expense | — | (23,886 | ) | (100,258 | ) | (27,314 | ) | — | (151,458 | ) | ||||||||||||||
Other expense | (4,775 | ) | — | — | — | (12,491 | ) | (17,266 | ) | |||||||||||||||
Allocated interest expense(5) | (111,898 | ) | (92,579 | ) | (69,259 | ) | (44,125 | ) | (38,300 | ) | (356,161 | ) | ||||||||||||
Allocated general and administrative(2) | (14,263 | ) | (10,618 | ) | (7,572 | ) | (7,405 | ) | (25,705 | ) | (65,563 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 11,087 | $ | 59,153 | $ | 10,732 | $ | (80,820 | ) | $ | 8,852 | $ | 9,004 | |||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | 81,740 | $ | — | $ | — | $ | — | $ | — | $ | 81,740 | ||||||||||||
Impairment of assets(5) | — | 6,670 | 28,501 | 205 | 978 | 36,354 | ||||||||||||||||||
Depreciation and amortization(5) | — | 39,250 | 28,450 | 1,276 | 1,810 | 70,786 | ||||||||||||||||||
Capitalized expenditures | — | 10,994 | 51,579 | 20,497 | — | 83,070 | ||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
Real estate, net | — | 1,188,160 | 628,271 | 860,283 | — | 2,676,714 | ||||||||||||||||||
Real estate available and held for sale | — | 4,521 | 162,782 | 118,679 | — | 285,982 | ||||||||||||||||||
Total real estate | — | 1,192,681 | 791,053 | 978,962 | — | 2,962,696 | ||||||||||||||||||
Loans receivable and other lending investments, net | 1,377,843 | — | — | — | — | 1,377,843 | ||||||||||||||||||
Other investments | — | 125,360 | 13,220 | 106,155 | 109,384 | 354,119 | ||||||||||||||||||
Total portfolio assets | $ | 1,377,843 | $ | 1,318,041 | $ | 804,273 | $ | 1,085,117 | $ | 109,384 | 4,694,658 | |||||||||||||
Cash and other assets | 768,475 | |||||||||||||||||||||||
Total assets | $ | 5,463,133 | ||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
Real estate, net | — | 1,358,248 | 638,088 | 799,845 | — | 2,796,181 | ||||||||||||||||||
Real estate available and held for sale | — | — | 228,328 | 132,189 | — | 360,517 | ||||||||||||||||||
Total real estate | — | 1,358,248 | 866,416 | 932,034 | — | 3,156,698 | ||||||||||||||||||
Loans receivable and other lending investments, net | 1,370,109 | — | — | — | — | 1,370,109 | ||||||||||||||||||
Other investments | — | 16,408 | 16,032 | 29,765 | 145,004 | 207,209 | ||||||||||||||||||
Total portfolio assets | $ | 1,370,109 | $ | 1,374,656 | $ | 882,448 | $ | 961,799 | $ | 145,004 | 4,734,016 | |||||||||||||
Cash and other assets | 907,995 | |||||||||||||||||||||||
Total assets | $ | 5,642,011 | ||||||||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not included in the other reportable segments above. | |||||||||||||||||||||||
-2 | General and administrative excludes stock-based compensation expense of $13.3 million, $19.3 million and $15.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||
-3 | The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Segment profit (loss) | $ | 164,851 | $ | 39,367 | $ | 9,004 | ||||||||||||||||||
Less: (Provision for) recovery of loan losses | 1,714 | (5,489 | ) | (81,740 | ) | |||||||||||||||||||
Less: Impairment of assets(4) | (34,634 | ) | (14,353 | ) | (36,354 | ) | ||||||||||||||||||
Less: Loss on transfer of interest to unconsolidated subsidiary | — | (7,373 | ) | — | ||||||||||||||||||||
Less: Stock-based compensation expense | (13,314 | ) | (19,261 | ) | (15,293 | ) | ||||||||||||||||||
Less: Depreciation and amortization(4) | (73,571 | ) | (71,530 | ) | (70,786 | ) | ||||||||||||||||||
Less: Income tax (expense) benefit(4) | (3,912 | ) | 596 | (8,445 | ) | |||||||||||||||||||
Less: Loss on early extinguishment of debt, net | (25,369 | ) | (33,190 | ) | (37,816 | ) | ||||||||||||||||||
Net income (loss) | $ | 15,765 | $ | (111,233 | ) | $ | (241,430 | ) | ||||||||||||||||
-4 | For the years ended December 31, 2013 and 2012, excludes certain amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. | |||||||||||||||||||||||
-5 | For the years ended December 31, 2013 and 2012, includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) | ||||||||||||||||
The following table sets forth the selected quarterly financial data for the Company ($ in thousands, except per share amounts). | |||||||||||||||||
For the Quarters Ended | |||||||||||||||||
December 31, | September 30, | June 30, | March 31, | ||||||||||||||
2014:00:00 | |||||||||||||||||
Revenue | $ | 109,950 | $ | 113,486 | $ | 129,843 | $ | 108,749 | |||||||||
Net income (loss) | $ | (1,955 | ) | $ | 35,491 | $ | (3,594 | ) | $ | (14,177 | ) | ||||||
Earnings per common share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | |||||||||||||||||
Basic(1) | $ | (13,270 | ) | $ | 22,327 | $ | (16,207 | ) | $ | (26,572 | ) | ||||||
Diluted(1) | $ | (13,270 | ) | $ | 27,608 | $ | (16,207 | ) | $ | (26,572 | ) | ||||||
Earnings per share | |||||||||||||||||
Basic | $ | (0.16 | ) | $ | 0.26 | $ | (0.19 | ) | $ | (0.31 | ) | ||||||
Diluted | $ | (0.16 | ) | $ | 0.21 | $ | (0.19 | ) | $ | (0.31 | ) | ||||||
Weighted average number of common shares | |||||||||||||||||
Basic | 85,188 | 85,163 | 84,916 | 84,819 | |||||||||||||
Diluted | 85,188 | 130,160 | 84,916 | 84,819 | |||||||||||||
Earnings per HPU share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | |||||||||||||||||
Basic | $ | (442 | ) | $ | 744 | $ | (542 | ) | $ | (889 | ) | ||||||
Diluted | $ | (442 | ) | $ | 602 | $ | (542 | ) | $ | (889 | ) | ||||||
Earnings per share | |||||||||||||||||
Basic | $ | (29.47 | ) | $ | 49.6 | $ | (36.13 | ) | $ | (59.27 | ) | ||||||
Diluted | $ | (29.47 | ) | $ | 40.13 | $ | (36.13 | ) | $ | (59.27 | ) | ||||||
Weighted average number of HPU shares—basic and diluted | 15 | 15 | 15 | 15 | |||||||||||||
For the Quarters Ended | |||||||||||||||||
December 31, | September 30, | June 30, | March 31, | ||||||||||||||
2013:00:00 | |||||||||||||||||
Revenue | $ | 101,073 | $ | 95,696 | $ | 99,919 | $ | 94,102 | |||||||||
Net income (loss) | $ | (45,992 | ) | $ | (18,590 | ) | $ | (14,398 | ) | $ | (32,253 | ) | |||||
Earnings per common share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | $ | (57,934 | ) | $ | (30,571 | ) | $ | (26,001 | ) | $ | (41,263 | ) | |||||
Basic and diluted earnings per share | $ | (0.68 | ) | $ | (0.36 | ) | $ | (0.31 | ) | $ | (0.49 | ) | |||||
Weighted average number of common shares—basic and diluted | 84,617 | 85,392 | 85,125 | 84,824 | |||||||||||||
Earnings per HPU share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | $ | (1,939 | ) | $ | (1,016 | ) | $ | (866 | ) | $ | (1,381 | ) | |||||
Basic and diluted earnings per share | $ | (129.26 | ) | $ | (67.73 | ) | $ | (57.74 | ) | $ | (92.07 | ) | |||||
Weighted average number of HPU shares—basic and diluted | 15 | 15 | 15 | 15 | |||||||||||||
Explanatory Note: | |||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||
-1 | For the quarter ended September 30, 2014, includes net income attributable to iStar Financial Inc. and allocable to Participating Security Holders of $2 and $2 on a basic and dilutive basis, respectively. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts and Reserves | Schedule II—Valuation and Qualifying Accounts and Reserves | ||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||
Description | Balance at | Charged to | Adjustments | Deductions | Balance at | ||||||||||||||||
Beginning | Costs and | to Valuation | End | ||||||||||||||||||
of Period | Expenses | Accounts | of Period | ||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||
Reserve for loan losses(1)(2) | $ | 646,624 | $ | 81,740 | $ | — | $ | (203,865 | ) | $ | 524,499 | ||||||||||
Allowance for doubtful accounts(2) | 3,668 | 1,928 | — | — | 5,596 | ||||||||||||||||
Allowance for deferred tax assets(2) | 50,889 | (9,833 | ) | (176 | ) | — | 40,880 | ||||||||||||||
$ | 701,181 | $ | 73,835 | $ | (176 | ) | $ | (203,865 | ) | $ | 570,975 | ||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||
Reserve for loan losses(1)(2) | $ | 524,499 | $ | 5,489 | $ | — | $ | (152,784 | ) | $ | 377,204 | ||||||||||
Allowance for doubtful accounts(2) | 5,596 | 261 | — | — | 5,857 | ||||||||||||||||
Allowance for deferred tax assets(2) | 40,880 | (4,473 | ) | 19,855 | — | 56,262 | |||||||||||||||
$ | 570,975 | $ | 1,277 | $ | 19,855 | $ | (152,784 | ) | $ | 439,323 | |||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||
Reserve for loan losses(1)(2) | $ | 377,204 | $ | (1,714 | ) | $ | — | $ | (277,000 | ) | $ | 98,490 | |||||||||
Allowance for doubtful accounts(2) | 5,857 | 2,074 | — | (4,285 | ) | 3,646 | |||||||||||||||
Allowance for deferred tax assets(2) | 56,262 | (6,246 | ) | 4,302 | — | 54,318 | |||||||||||||||
$ | 439,323 | $ | (5,886 | ) | $ | 4,302 | $ | (281,285 | ) | $ | 156,454 | ||||||||||
Explanatory Notes: | |||||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||||
-1 | See Note 5 to the Company's Consolidated Financial Statements. | ||||||||||||||||||||
-2 | See Note 3 to the Company's Consolidated Financial Statements. |
Schedule_III_Real_Estate_and_A
Schedule III - Real Estate and Accumulated Depreciation (Notes) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure | |||||||||||||||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
OFFICE FACILITIES: | |||||||||||||||||||||||||||||||||||||||
Arizona | OAZ002 | $ | — | $ | 1,033 | $ | 6,652 | $ | 951 | $ | 1,033 | $ | 7,603 | $ | 8,636 | $ | 2,825 | 1999 | 40 | ||||||||||||||||||||
Arizona | OAZ003 | — | 1,033 | 6,652 | 287 | 1,033 | 6,939 | 7,972 | 2,589 | 1999 | 40 | ||||||||||||||||||||||||||||
Arizona | OAZ004 | — | 1,033 | 6,652 | 205 | 1,033 | 6,857 | 7,890 | 2,570 | 1999 | 40 | ||||||||||||||||||||||||||||
Arizona | OAZ005 | — | 701 | 4,339 | — | 701 | 4,339 | 5,040 | 1,645 | 1999 | 40 | ||||||||||||||||||||||||||||
Arizona | OAZ006 | — | 10,780 | 36,336 | 1,294 | 10,780 | 37,630 | 48,410 | 5,827 | 2011 | 40 | ||||||||||||||||||||||||||||
California | OCA002 | — | 4,139 | 5,064 | 1,596 | 4,139 | 6,660 | 10,799 | 2,229 | 2002 | 40 | ||||||||||||||||||||||||||||
Colorado | OCO001 | — | 1,757 | 16,930 | 6,476 | 1,757 | 23,406 | 25,163 | 8,823 | 1999 | 40 | ||||||||||||||||||||||||||||
Colorado | OCO002 | 4,856 | -1 | — | 16,752 | 48 | — | 16,800 | 16,800 | 5,356 | 2002 | 40 | |||||||||||||||||||||||||||
Florida | OFL001 | — | 2,517 | 14,484 | 5,112 | 2,517 | 19,596 | 22,113 | 2,168 | 2010 | 40 | ||||||||||||||||||||||||||||
Georgia | OGA001 | — | 905 | 6,744 | 45 | 905 | 6,789 | 7,694 | 3,142 | 1999 | 40 | ||||||||||||||||||||||||||||
Georgia | OGA002 | — | 5,709 | 49,091 | 22,344 | 5,709 | 71,435 | 77,144 | 24,788 | 1999 | 40 | ||||||||||||||||||||||||||||
Massachusetts | OMA001 | 12,581 | -1 | 1,600 | 21,947 | 285 | 1,600 | 22,232 | 23,832 | 7,126 | 2002 | 40 | |||||||||||||||||||||||||||
Maryland | OMD001 | 12,033 | -1 | 1,800 | 18,706 | 740 | 1,800 | 19,446 | 21,246 | 6,044 | 2002 | 40 | |||||||||||||||||||||||||||
Michigan | OMI001 | — | 5,374 | 137,956 | 243 | 5,374 | 138,199 | 143,573 | 25,622 | 2007 | 40 | ||||||||||||||||||||||||||||
New Jersey | ONJ001 | 52,675 | 7,726 | 74,429 | 10 | 7,724 | 74,441 | 82,165 | 22,447 | 2002 | 40 | ||||||||||||||||||||||||||||
New Jersey | ONJ002 | 11,517 | 1,008 | 13,763 | (81 | ) | 1,008 | 13,682 | 14,690 | 3,725 | 2004 | 40 | |||||||||||||||||||||||||||
New Jersey | ONJ003 | 16,219 | -1 | 2,456 | 28,955 | 767 | 2,456 | 29,722 | 32,178 | 7,967 | 2004 | 40 | |||||||||||||||||||||||||||
Pennsylvania | OPA001 | — | 690 | 26,098 | (49 | ) | 690 | 26,049 | 26,739 | 8,656 | 2001 | 40 | |||||||||||||||||||||||||||
Tennessee | OTN001 | — | 2,702 | 25,129 | (17,064 | ) | 2,702 | 8,065 | 10,767 | 7,878 | 1999 | 40 | |||||||||||||||||||||||||||
Texas | OTX001 | — | 1,364 | 10,628 | 5,644 | 2,373 | 15,263 | 17,636 | 5,589 | 1999 | 40 | ||||||||||||||||||||||||||||
Texas | OTX002 | — | 1,233 | 15,160 | 146 | 1,233 | 15,306 | 16,539 | 5,480 | 1999 | 40 | ||||||||||||||||||||||||||||
Texas | OTX003 | — | 2,932 | 31,235 | 12,644 | 2,932 | 43,879 | 46,811 | 15,945 | 1999 | 40 | ||||||||||||||||||||||||||||
Texas | OTX004 | — | 1,230 | 5,660 | 482 | 1,230 | 6,142 | 7,372 | 2,303 | 1999 | 40 | ||||||||||||||||||||||||||||
Wisconsin | OWI001 | — | 1,875 | 13,914 | (6,147 | ) | 1,875 | 7,767 | 9,642 | 4,696 | 1999 | 40 | |||||||||||||||||||||||||||
Subtotal | $ | 109,881 | $ | 61,597 | $ | 593,276 | $ | 35,978 | $ | 62,604 | $ | 628,247 | $ | 690,851 | $ | 185,440 | |||||||||||||||||||||||
INDUSTRIAL FACILITIES: | |||||||||||||||||||||||||||||||||||||||
Arizona | IAZ001 | — | 2,519 | 7,481 | 1,009 | 2,519 | 8,490 | 11,009 | 1,249 | 2009 | 40 | ||||||||||||||||||||||||||||
Arizona | IAZ002 | — | 3,279 | 5,221 | 2,387 | 3,279 | 7,608 | 10,887 | 1,185 | 2009 | 40 | ||||||||||||||||||||||||||||
California | ICA001 | 17,736 | -1 | 11,635 | 19,515 | 5,943 | 11,635 | 25,458 | 37,093 | 4,496 | 2007 | 40 | |||||||||||||||||||||||||||
California | ICA005 | — | -1 | 654 | 4,591 | 2,044 | 654 | 6,635 | 7,289 | 2,697 | 1999 | 40 | |||||||||||||||||||||||||||
California | ICA006 | — | 1,086 | 7,964 | 2,876 | 1,086 | 10,840 | 11,926 | 4,560 | 1999 | 40 | ||||||||||||||||||||||||||||
California | ICA007 | — | -1 | 4,880 | 12,367 | 3,550 | 4,880 | 15,917 | 20,797 | 5,656 | 1999 | 40 | |||||||||||||||||||||||||||
California | ICA008 | — | -1 | 6,857 | 8,378 | 1,643 | 6,856 | 10,022 | 16,878 | 3,326 | 2002 | 40 | |||||||||||||||||||||||||||
California | ICA012 | — | -1 | 3,044 | 3,716 | 3,643 | 3,044 | 7,359 | 10,403 | 2,266 | 2002 | 40 | |||||||||||||||||||||||||||
California | ICA013 | — | -1 | 2,633 | 3,219 | 290 | 2,633 | 3,509 | 6,142 | 1,240 | 2002 | 40 | |||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
California | ICA014 | — | 4,600 | 5,627 | 4,039 | 4,600 | 9,666 | 14,266 | 2,434 | 2002 | 40 | ||||||||||||||||||||||||||||
California | ICA015 | — | 5,617 | 6,877 | 5,501 | 5,619 | 12,376 | 17,995 | 6,618 | 2002 | 40 | ||||||||||||||||||||||||||||
California | ICA016 | 27,456 | 15,708 | 27,987 | 7,619 | 15,708 | 35,606 | 51,314 | 14,473 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ICA017 | — | 808 | 8,306 | 588 | 808 | 8,894 | 9,702 | 3,241 | 1999 | 40 | ||||||||||||||||||||||||||||
Colorado | ICO001 | — | 832 | 1,379 | — | 832 | 1,379 | 2,211 | 289 | 2006 | 40 | ||||||||||||||||||||||||||||
Florida | IFL002 | 15,365 | -1 | 3,510 | 20,846 | 8,279 | 3,510 | 29,125 | 32,635 | 4,795 | 2007 | 40 | |||||||||||||||||||||||||||
Florida | IFL004 | — | 3,048 | 8,676 | — | 3,048 | 8,676 | 11,724 | 3,290 | 1999 | 40 | ||||||||||||||||||||||||||||
Florida | IFL005 | — | 1,612 | 4,586 | (1,408 | ) | 1,241 | 3,549 | 4,790 | 784 | 1999 | 40 | |||||||||||||||||||||||||||
Florida | IFL006 | — | 1,476 | 4,198 | (4,497 | ) | 450 | 727 | 1,177 | 521 | 1999 | 40 | |||||||||||||||||||||||||||
Georgia | IGA001 | 13,373 | -1 | 2,791 | 24,637 | 349 | 2,791 | 24,986 | 27,777 | 4,488 | 2007 | 40 | |||||||||||||||||||||||||||
Indiana | IIN001 | — | 462 | 9,224 | — | 462 | 9,224 | 9,686 | 2,303 | 2007 | 40 | ||||||||||||||||||||||||||||
Massachusetts | IMA001 | 18,400 | -1 | 7,439 | 21,774 | 10,979 | 7,439 | 32,753 | 40,192 | 5,391 | 2007 | 40 | |||||||||||||||||||||||||||
Michigan | IMI001 | — | 598 | 9,814 | 1 | 598 | 9,815 | 10,413 | 2,476 | 2007 | 40 | ||||||||||||||||||||||||||||
Minnesota | IMN001 | — | 403 | 1,147 | (344 | ) | 1,206 | — | 1,206 | — | 1999 | 40 | |||||||||||||||||||||||||||
Minnesota | IMN002 | — | 6,705 | 17,690 | — | 6,225 | 18,170 | 24,395 | 4,502 | 2005 | 40 | ||||||||||||||||||||||||||||
North Carolina | INC001 | — | 680 | 5,947 | — | 680 | 5,947 | 6,627 | 1,543 | 2004 | 40 | ||||||||||||||||||||||||||||
New Jersey | INJ001 | 21,340 | -1 | 8,368 | 15,376 | 21,141 | 8,368 | 36,517 | 44,885 | 6,085 | 2007 | 40 | |||||||||||||||||||||||||||
New York | INY001 | — | 1,796 | 5,108 | 4 | 1,796 | 5,112 | 6,908 | 1,939 | 1999 | 40 | ||||||||||||||||||||||||||||
Texas | ITX003 | — | 3,617 | 3,432 | — | 3,617 | 3,432 | 7,049 | 719 | 2006 | 40 | ||||||||||||||||||||||||||||
Texas | ITX004 | 13,278 | -1 | 1,631 | 27,858 | (416 | ) | 1,631 | 27,442 | 29,073 | 4,872 | 2007 | 40 | ||||||||||||||||||||||||||
Texas | ITX005 | — | 1,314 | 8,903 | 46 | 1,314 | 8,949 | 10,263 | 3,389 | 1999 | 40 | ||||||||||||||||||||||||||||
Virginia | IVA001 | 14,321 | -1 | 2,619 | 28,481 | 142 | 2,619 | 28,623 | 31,242 | 5,139 | 2007 | 40 | |||||||||||||||||||||||||||
Subtotal | $ | 141,269 | $ | 112,221 | $ | 340,325 | $ | 75,408 | $ | 111,148 | $ | 416,806 | $ | 527,954 | $ | 105,966 | |||||||||||||||||||||||
LAND: | |||||||||||||||||||||||||||||||||||||||
Arizona | LAZ001 | — | 96,700 | — | — | 96,700 | — | 96,700 | — | 2010 | 0 | ||||||||||||||||||||||||||||
Arizona | LAZ002 | — | -1 | 13,170 | 5,144 | 64 | 13,170 | 5,208 | 18,378 | 472 | 2011 | 40 | |||||||||||||||||||||||||||
California | LCA002 | — | 28,464 | 2,836 | (11,000 | ) | 17,464 | 2,836 | 20,300 | 2,409 | 2010 | 40 | |||||||||||||||||||||||||||
California | LCA003 | — | 87,300 | — | (11,330 | ) | 75,970 | — | 75,970 | — | 2009 | 0 | |||||||||||||||||||||||||||
California | LCA004 | — | 68,155 | — | (21,405 | ) | 46,750 | — | 46,750 | — | 2000 | 0 | |||||||||||||||||||||||||||
California | LCA005 | — | 84,100 | — | 5,628 | 89,728 | — | 89,728 | — | 2010 | 0 | ||||||||||||||||||||||||||||
California | LCA006 | — | 59,100 | — | — | 59,100 | — | 59,100 | — | 2010 | 0 | ||||||||||||||||||||||||||||
California | LCA008 | — | 30,500 | — | — | 30,500 | — | 30,500 | — | 2011 | 0 | ||||||||||||||||||||||||||||
California | LCA009 | — | 4,095 | 8,323 | 1,638 | 4,095 | 9,961 | 14,056 | 3,507 | 1999 | 40 | ||||||||||||||||||||||||||||
Florida | LFA001 | — | 7,600 | — | — | 7,600 | — | 7,600 | — | 2009 | 0 | ||||||||||||||||||||||||||||
Florida | LFA002 | — | 8,100 | — | — | 8,100 | — | 8,100 | — | 2009 | 0 | ||||||||||||||||||||||||||||
Florida | LFA003 | — | 26,600 | — | 27,218 | 26,600 | 27,218 | 53,818 | — | 2010 | 0 | ||||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Florida | LFA004 | — | 10,440 | — | — | 10,440 | — | 10,440 | — | 2013 | 0 | ||||||||||||||||||||||||||||
Florida | LFA005 | — | 9,300 | — | — | 9,300 | — | 9,300 | — | 2010 | 0 | ||||||||||||||||||||||||||||
Florida | LFA006 | — | 9,300 | — | — | 9,300 | — | 9,300 | — | 2012 | 0 | ||||||||||||||||||||||||||||
Florida | LFA007 | — | 5,883 | — | — | 5,883 | — | 5,883 | — | 2014 | 0 | ||||||||||||||||||||||||||||
Georgia | LGA001 | — | 3,800 | — | — | 3,800 | — | 3,800 | — | 2013 | 0 | ||||||||||||||||||||||||||||
Georgia | LGA002 | — | 1,400 | — | — | 1,400 | — | 1,400 | — | 2013 | 0 | ||||||||||||||||||||||||||||
Maryland | LMD001 | — | 102,938 | — | — | 102,938 | — | 102,938 | — | 2009 | 0 | ||||||||||||||||||||||||||||
Maryland | LMD002 | — | 2,486 | — | — | 2,486 | — | 2,486 | 326 | 1999 | 70 | ||||||||||||||||||||||||||||
New Jersey | LNJ001 | — | 43,300 | — | 38,632 | 81,932 | — | 81,932 | 163 | -3 | 2009 | 0 | |||||||||||||||||||||||||||
New York | LNY001 | — | 52,461 | — | 2,525 | 52,461 | 2,525 | 54,986 | — | 2009 | 0 | ||||||||||||||||||||||||||||
New York | LNY002 | — | 58,900 | — | (9,506 | ) | 49,394 | — | 49,394 | — | 2011 | 0 | |||||||||||||||||||||||||||
New York | LNY003 | — | 3,277 | — | 3,825 | 3,277 | 3,825 | 7,102 | — | 2013 | 0 | ||||||||||||||||||||||||||||
Oregon | LOR001 | — | 3,674 | — | 215 | 3,674 | 215 | 3,889 | — | 2012 | 0 | ||||||||||||||||||||||||||||
Oregon | LOR002 | — | 20,326 | — | (9,558 | ) | 10,768 | — | 10,768 | — | 2012 | 0 | |||||||||||||||||||||||||||
Texas | LTX001 | — | 3,375 | — | — | 3,375 | — | 3,375 | — | 2005 | 0 | ||||||||||||||||||||||||||||
Texas | LTX002 | — | 3,621 | — | — | 3,621 | — | 3,621 | — | 2005 | 0 | ||||||||||||||||||||||||||||
Virginia | LVA001 | — | 60,814 | — | 27,115 | 87,929 | — | 87,929 | 1,554 | -3 | 2009 | 0 | |||||||||||||||||||||||||||
Virginia | LVA001 | — | 11,324 | — | (8,017 | ) | 3,307 | — | 3,307 | — | 2009 | 0 | |||||||||||||||||||||||||||
Subtotal | $ | — | $ | 920,503 | $ | 16,303 | $ | 36,044 | $ | 921,062 | $ | 51,788 | $ | 972,850 | $ | 8,431 | |||||||||||||||||||||||
ENTERTAINMENT: | |||||||||||||||||||||||||||||||||||||||
Alabama | EAL001 | — | 277 | 359 | (1 | ) | 277 | 358 | 635 | 97 | 2004 | 40 | |||||||||||||||||||||||||||
Alabama | EAL002 | — | 319 | 414 | 1 | 319 | 415 | 734 | 112 | 2004 | 40 | ||||||||||||||||||||||||||||
Arizona | EAZ001 | — | 793 | 1,027 | 3 | 793 | 1,030 | 1,823 | 278 | 2004 | 40 | ||||||||||||||||||||||||||||
Arizona | EAZ002 | — | 521 | 673 | (1 | ) | 521 | 672 | 1,193 | 183 | 2004 | 40 | |||||||||||||||||||||||||||
Arizona | EAZ003 | — | 305 | 394 | (1 | ) | 305 | 393 | 698 | 107 | 2004 | 40 | |||||||||||||||||||||||||||
Arizona | EAZ004 | — | 630 | 815 | 2 | 630 | 817 | 1,447 | 221 | 2004 | 40 | ||||||||||||||||||||||||||||
Arizona | EAZ005 | — | 590 | 764 | 2 | 590 | 766 | 1,356 | 207 | 2004 | 40 | ||||||||||||||||||||||||||||
Arizona | EAZ006 | — | 476 | 616 | (1 | ) | 476 | 615 | 1,091 | 167 | 2004 | 40 | |||||||||||||||||||||||||||
Arizona | EAZ007 | — | 654 | 845 | (1 | ) | 654 | 844 | 1,498 | 229 | 2004 | 40 | |||||||||||||||||||||||||||
Arizona | EAZ008 | — | 666 | 862 | (2 | ) | 666 | 860 | 1,526 | 233 | 2004 | 40 | |||||||||||||||||||||||||||
Arizona | EAZ009 | — | 460 | 596 | 2 | 460 | 598 | 1,058 | 161 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA001 | — | 1,097 | 1,421 | 3 | 1,097 | 1,424 | 2,521 | 384 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA002 | — | 434 | 560 | 2 | 434 | 562 | 996 | 152 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA003 | — | 332 | 429 | 1 | 332 | 430 | 762 | 116 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA004 | — | 1,642 | 2,124 | (4 | ) | 1,642 | 2,120 | 3,762 | 575 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA005 | — | 676 | 876 | 2 | 676 | 878 | 1,554 | 237 | 2004 | 40 | ||||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
California | ECA006 | — | 720 | 932 | 2 | 720 | 934 | 1,654 | 252 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA007 | — | 574 | 743 | (1 | ) | 574 | 742 | 1,316 | 201 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA008 | — | 392 | 508 | (1 | ) | 392 | 507 | 899 | 137 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA009 | — | 358 | 464 | (1 | ) | 358 | 463 | 821 | 126 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA010 | — | — | 18,000 | — | — | 18,000 | 18,000 | 4,760 | 2003 | 40 | ||||||||||||||||||||||||||||
California | ECA011 | — | 852 | 1,101 | (2 | ) | 852 | 1,099 | 1,951 | 298 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA012 | — | 1,572 | 2,034 | 5 | 1,572 | 2,039 | 3,611 | 551 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA013 | — | — | 1,953 | 25,772 | — | 27,725 | 27,725 | 4,042 | 2008 | 40 | ||||||||||||||||||||||||||||
California | ECA014 | — | 659 | 852 | (2 | ) | 659 | 850 | 1,509 | 231 | 2004 | 40 | |||||||||||||||||||||||||||
California | ECA015 | — | 562 | 729 | 1 | 562 | 730 | 1,292 | 197 | 2004 | 40 | ||||||||||||||||||||||||||||
California | ECA016 | — | 896 | 1,159 | (2 | ) | 896 | 1,157 | 2,053 | 314 | 2004 | 40 | |||||||||||||||||||||||||||
Colorado | ECO001 | — | 466 | 602 | (1 | ) | 466 | 601 | 1,067 | 163 | 2004 | 40 | |||||||||||||||||||||||||||
Colorado | ECO002 | — | 640 | 827 | 3 | 640 | 830 | 1,470 | 224 | 2004 | 40 | ||||||||||||||||||||||||||||
Colorado | ECO003 | — | 729 | 944 | 2 | 729 | 946 | 1,675 | 255 | 2004 | 40 | ||||||||||||||||||||||||||||
Colorado | ECO004 | — | 536 | 694 | (1 | ) | 536 | 693 | 1,229 | 188 | 2004 | 40 | |||||||||||||||||||||||||||
Colorado | ECO005 | — | 412 | 533 | 2 | 412 | 535 | 947 | 144 | 2004 | 40 | ||||||||||||||||||||||||||||
Colorado | ECO006 | — | 901 | 1,165 | (2 | ) | 901 | 1,163 | 2,064 | 316 | 2004 | 40 | |||||||||||||||||||||||||||
Connecticut | ECT001 | — | 1,097 | 1,420 | (2 | ) | 1,097 | 1,418 | 2,515 | 385 | 2004 | 40 | |||||||||||||||||||||||||||
Connecticut | ECT002 | — | 330 | 426 | 1 | 330 | 427 | 757 | 115 | 2004 | 40 | ||||||||||||||||||||||||||||
Delaware | EDE001 | — | 1,076 | 1,390 | 7 | 1,076 | 1,397 | 2,473 | 377 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL001 | — | — | 41,809 | — | — | 41,809 | 41,809 | 15,198 | 2005 | 27 | ||||||||||||||||||||||||||||
Florida | EFL002 | — | 412 | 531 | — | 412 | 531 | 943 | 144 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL003 | — | 6,550 | — | 17,118 | 6,533 | 17,135 | 23,668 | 3,281 | 2006 | 40 | ||||||||||||||||||||||||||||
Florida | EFL004 | — | 1,067 | 1,382 | 4 | 1,067 | 1,386 | 2,453 | 374 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL005 | — | 340 | 439 | (1 | ) | 340 | 438 | 778 | 119 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL006 | — | 401 | 520 | 1 | 401 | 521 | 922 | 141 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL007 | — | 507 | 655 | (1 | ) | 507 | 654 | 1,161 | 178 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL008 | — | 282 | 364 | (1 | ) | 282 | 363 | 645 | 99 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL009 | — | 352 | 455 | 1 | 352 | 456 | 808 | 123 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL011 | — | 437 | 567 | 1 | 437 | 568 | 1,005 | 153 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL012 | — | 532 | 689 | 1 | 532 | 690 | 1,222 | 186 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL014 | — | 486 | 629 | 2 | 486 | 631 | 1,117 | 170 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL016 | — | 497 | 643 | (1 | ) | 497 | 642 | 1,139 | 174 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL018 | — | 643 | 833 | (2 | ) | 643 | 831 | 1,474 | 225 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL019 | — | 4,200 | 18,272 | — | 4,200 | 18,272 | 22,472 | 4,497 | 2005 | 40 | ||||||||||||||||||||||||||||
Florida | EFL020 | — | 551 | 714 | (2 | ) | 551 | 712 | 1,263 | 193 | 2004 | 40 | |||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Florida | EFL021 | — | 364 | 470 | (1 | ) | 364 | 469 | 833 | 127 | 2004 | 40 | |||||||||||||||||||||||||||
Florida | EFL022 | — | 507 | 656 | 2 | 507 | 658 | 1,165 | 178 | 2004 | 40 | ||||||||||||||||||||||||||||
Florida | EFL023 | — | — | 19,337 | — | — | 19,337 | 19,337 | 4,759 | 2005 | 40 | ||||||||||||||||||||||||||||
Georgia | EGA001 | — | 510 | 660 | (2 | ) | 510 | 658 | 1,168 | 179 | 2004 | 40 | |||||||||||||||||||||||||||
Georgia | EGA002 | — | 286 | 371 | 1 | 286 | 372 | 658 | 100 | 2004 | 40 | ||||||||||||||||||||||||||||
Georgia | EGA003 | — | 474 | 613 | 1 | 474 | 614 | 1,088 | 166 | 2004 | 40 | ||||||||||||||||||||||||||||
Georgia | EGA004 | — | 581 | 752 | 2 | 581 | 754 | 1,335 | 203 | 2004 | 40 | ||||||||||||||||||||||||||||
Georgia | EGA005 | — | 718 | 930 | (2 | ) | 718 | 928 | 1,646 | 252 | 2004 | 40 | |||||||||||||||||||||||||||
Georgia | EGA006 | — | 546 | 706 | 2 | 546 | 708 | 1,254 | 191 | 2004 | 40 | ||||||||||||||||||||||||||||
Georgia | EGA007 | — | 502 | 651 | (1 | ) | 502 | 650 | 1,152 | 176 | 2004 | 40 | |||||||||||||||||||||||||||
Illinois | EIL001 | — | 335 | 434 | 1 | 335 | 435 | 770 | 117 | 2004 | 40 | ||||||||||||||||||||||||||||
Illinois | EIL002 | — | 481 | 622 | 1 | 481 | 623 | 1,104 | 168 | 2004 | 40 | ||||||||||||||||||||||||||||
Illinois | EIL003 | — | 8,803 | 57 | 30,479 | 8,803 | 30,536 | 39,339 | 5,583 | 2006 | 40 | ||||||||||||||||||||||||||||
Illinois | EIL004 | — | 433 | 560 | (2 | ) | 433 | 558 | 991 | 152 | 2004 | 40 | |||||||||||||||||||||||||||
Illinois | EIL005 | — | 431 | 557 | (1 | ) | 431 | 556 | 987 | 151 | 2004 | 40 | |||||||||||||||||||||||||||
Indiana | EIN001 | — | 542 | 701 | (1 | ) | 542 | 700 | 1,242 | 190 | 2004 | 40 | |||||||||||||||||||||||||||
Kentucky | EKY001 | — | 417 | 539 | 1 | 417 | 540 | 957 | 146 | 2004 | 40 | ||||||||||||||||||||||||||||
Kentucky | EKY002 | — | 365 | 473 | (1 | ) | 365 | 472 | 837 | 128 | 2004 | 40 | |||||||||||||||||||||||||||
Massachusetts | EMA001 | — | 523 | 678 | (2 | ) | 523 | 676 | 1,199 | 183 | 2004 | 40 | |||||||||||||||||||||||||||
Massachusetts | EMA002 | — | 548 | 711 | 1 | 548 | 712 | 1,260 | 192 | 2004 | 40 | ||||||||||||||||||||||||||||
Massachusetts | EMA003 | — | 519 | 672 | (2 | ) | 519 | 670 | 1,189 | 182 | 2004 | 40 | |||||||||||||||||||||||||||
Massachusetts | EMA004 | — | 344 | 445 | 1 | 344 | 446 | 790 | 120 | 2004 | 40 | ||||||||||||||||||||||||||||
Maryland | EMD001 | — | 428 | 554 | 1 | 428 | 555 | 983 | 150 | 2004 | 40 | ||||||||||||||||||||||||||||
Maryland | EMD002 | — | 575 | 745 | 2 | 575 | 747 | 1,322 | 202 | 2004 | 40 | ||||||||||||||||||||||||||||
Maryland | EMD003 | — | 362 | 468 | (1 | ) | 362 | 467 | 829 | 127 | 2004 | 40 | |||||||||||||||||||||||||||
Maryland | EMD004 | — | 884 | 1,145 | (3 | ) | 884 | 1,142 | 2,026 | 310 | 2004 | 40 | |||||||||||||||||||||||||||
Maryland | EMD006 | — | 399 | 518 | (1 | ) | 399 | 517 | 916 | 140 | 2004 | 40 | |||||||||||||||||||||||||||
Maryland | EMD007 | — | 649 | 839 | (2 | ) | 649 | 837 | 1,486 | 227 | 2004 | 40 | |||||||||||||||||||||||||||
Maryland | EMD008 | — | 366 | 473 | — | 366 | 473 | 839 | 128 | 2004 | 40 | ||||||||||||||||||||||||||||
Maryland | EMD009 | — | 398 | 516 | (1 | ) | 398 | 515 | 913 | 140 | 2004 | 40 | |||||||||||||||||||||||||||
Maryland | EMD011 | — | 1,126 | 1,458 | 3 | 1,126 | 1,461 | 2,587 | 394 | 2004 | 40 | ||||||||||||||||||||||||||||
Michigan | EMI002 | — | 516 | 667 | (1 | ) | 516 | 666 | 1,182 | 181 | 2004 | 40 | |||||||||||||||||||||||||||
Michigan | EMI003 | — | 554 | 718 | 2 | 554 | 720 | 1,274 | 194 | 2004 | 40 | ||||||||||||||||||||||||||||
Michigan | EMI004 | — | 387 | 500 | (1 | ) | 387 | 499 | 886 | 136 | 2004 | 40 | |||||||||||||||||||||||||||
Michigan | EMI005 | — | 533 | 691 | (2 | ) | 533 | 689 | 1,222 | 187 | 2004 | 40 | |||||||||||||||||||||||||||
Minnesota | EMN001 | — | 666 | 861 | (2 | ) | 666 | 859 | 1,525 | 233 | 2004 | 40 | |||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Minnesota | EMN002 | — | 2,962 | — | 15,384 | 2,962 | 15,384 | 18,346 | 3,078 | 2006 | 40 | ||||||||||||||||||||||||||||
Minnesota | EMN004 | — | 2,437 | 8,715 | 679 | 2,437 | 9,394 | 11,831 | 2,292 | 2006 | 40 | ||||||||||||||||||||||||||||
Missouri | EMO001 | — | 334 | 432 | 1 | 334 | 433 | 767 | 117 | 2004 | 40 | ||||||||||||||||||||||||||||
Missouri | EMO002 | — | 404 | 523 | (2 | ) | 404 | 521 | 925 | 142 | 2004 | 40 | |||||||||||||||||||||||||||
Missouri | EMO003 | — | 462 | 597 | (1 | ) | 462 | 596 | 1,058 | 162 | 2004 | 40 | |||||||||||||||||||||||||||
Missouri | EMO004 | — | 878 | 1,139 | 3 | 878 | 1,142 | 2,020 | 308 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC001 | — | 397 | 513 | 1 | 397 | 514 | 911 | 139 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC002 | — | 476 | 615 | (1 | ) | 476 | 614 | 1,090 | 167 | 2004 | 40 | |||||||||||||||||||||||||||
North Carolina | ENC003 | — | 410 | 530 | (1 | ) | 410 | 529 | 939 | 144 | 2004 | 40 | |||||||||||||||||||||||||||
North Carolina | ENC004 | — | 402 | 520 | (1 | ) | 402 | 519 | 921 | 141 | 2004 | 40 | |||||||||||||||||||||||||||
North Carolina | ENC005 | — | 948 | 1,227 | 3 | 948 | 1,230 | 2,178 | 332 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC006 | — | 259 | 336 | (1 | ) | 259 | 335 | 594 | 91 | 2004 | 40 | |||||||||||||||||||||||||||
North Carolina | ENC007 | — | 349 | 452 | 1 | 349 | 453 | 802 | 122 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC008 | — | 640 | 828 | 2 | 640 | 830 | 1,470 | 224 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC009 | — | 409 | 531 | 1 | 409 | 532 | 941 | 143 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC010 | — | 965 | 1,249 | (3 | ) | 965 | 1,246 | 2,211 | 338 | 2004 | 40 | |||||||||||||||||||||||||||
North Carolina | ENC011 | — | 475 | 615 | 1 | 475 | 616 | 1,091 | 166 | 2004 | 40 | ||||||||||||||||||||||||||||
North Carolina | ENC012 | — | 494 | 638 | (1 | ) | 494 | 637 | 1,131 | 173 | 2004 | 40 | |||||||||||||||||||||||||||
New Jersey | ENJ001 | — | 1,560 | 2,019 | (4 | ) | 1,560 | 2,015 | 3,575 | 547 | 2004 | 40 | |||||||||||||||||||||||||||
New Jersey | ENJ002 | — | 830 | 1,075 | 2 | 830 | 1,077 | 1,907 | 291 | 2004 | 40 | ||||||||||||||||||||||||||||
Nevada | ENV001 | — | 440 | 569 | (1 | ) | 440 | 568 | 1,008 | 154 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY001 | — | 603 | 779 | (1 | ) | 603 | 778 | 1,381 | 211 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY002 | — | 442 | 571 | 2 | 442 | 573 | 1,015 | 155 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY004 | — | 385 | 499 | (1 | ) | 385 | 498 | 883 | 135 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY005 | — | 350 | 453 | 1 | 350 | 454 | 804 | 123 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY006 | — | 326 | 421 | 2 | 326 | 423 | 749 | 114 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY007 | — | 494 | 640 | 2 | 494 | 642 | 1,136 | 173 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY008 | — | 320 | 414 | (1 | ) | 320 | 413 | 733 | 112 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY009 | — | 399 | 516 | (1 | ) | 399 | 515 | 914 | 140 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY010 | — | 959 | 1,240 | (3 | ) | 959 | 1,237 | 2,196 | 336 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY011 | — | 587 | 761 | 2 | 587 | 763 | 1,350 | 206 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY012 | — | 521 | 675 | (2 | ) | 521 | 673 | 1,194 | 183 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY013 | — | 711 | 920 | 2 | 711 | 922 | 1,633 | 249 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY014 | — | 558 | 723 | (2 | ) | 558 | 721 | 1,279 | 196 | 2004 | 40 | |||||||||||||||||||||||||||
New York | ENY015 | — | 747 | 967 | 3 | 747 | 970 | 1,717 | 262 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY016 | — | 683 | 885 | (2 | ) | 683 | 883 | 1,566 | 240 | 2004 | 40 | |||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
New York | ENY017 | — | 1,492 | 1,933 | 4 | 1,492 | 1,937 | 3,429 | 523 | 2004 | 40 | ||||||||||||||||||||||||||||
New York | ENY018 | — | 1,471 | 1,904 | (4 | ) | 1,471 | 1,900 | 3,371 | 516 | 2004 | 40 | |||||||||||||||||||||||||||
Ohio | EOH001 | — | 434 | 562 | 1 | 434 | 563 | 997 | 152 | 2004 | 40 | ||||||||||||||||||||||||||||
Ohio | EOH002 | — | 967 | 1,252 | (2 | ) | 967 | 1,250 | 2,217 | 339 | 2004 | 40 | |||||||||||||||||||||||||||
Ohio | EOH003 | — | 281 | 365 | (1 | ) | 281 | 364 | 645 | 99 | 2004 | 40 | |||||||||||||||||||||||||||
Ohio | EOH004 | — | 393 | 508 | 2 | 393 | 510 | 903 | 138 | 2004 | 40 | ||||||||||||||||||||||||||||
Oklahoma | EOK001 | — | 431 | 557 | (1 | ) | 431 | 556 | 987 | 151 | 2004 | 40 | |||||||||||||||||||||||||||
Oklahoma | EOK002 | — | 954 | 1,235 | 3 | 954 | 1,238 | 2,192 | 334 | 2004 | 40 | ||||||||||||||||||||||||||||
Oregon | EOR002 | — | 393 | 508 | (1 | ) | 393 | 507 | 900 | 138 | 2004 | 40 | |||||||||||||||||||||||||||
Pennsylvania | EPA001 | — | 407 | 527 | 1 | 407 | 528 | 935 | 143 | 2004 | 40 | ||||||||||||||||||||||||||||
Pennsylvania | EPA002 | — | 421 | 544 | 2 | 421 | 546 | 967 | 147 | 2004 | 40 | ||||||||||||||||||||||||||||
Pennsylvania | EPA003 | — | 409 | 528 | (1 | ) | 409 | 527 | 936 | 143 | 2004 | 40 | |||||||||||||||||||||||||||
Pennsylvania | EPA004 | — | 407 | 527 | (1 | ) | 407 | 526 | 933 | 143 | 2004 | 40 | |||||||||||||||||||||||||||
Puerto Rico | EPR001 | — | 950 | 1,230 | 3 | 950 | 1,233 | 2,183 | 333 | 2004 | 40 | ||||||||||||||||||||||||||||
Rhode Island | ERI001 | — | 850 | 1,100 | (2 | ) | 850 | 1,098 | 1,948 | 298 | 2004 | 40 | |||||||||||||||||||||||||||
South Carolina | ESC002 | — | 332 | 429 | 1 | 332 | 430 | 762 | 116 | 2004 | 40 | ||||||||||||||||||||||||||||
South Carolina | ESC003 | — | 924 | 1,196 | 3 | 924 | 1,199 | 2,123 | 324 | 2004 | 40 | ||||||||||||||||||||||||||||
Tennessee | ETN001 | — | 260 | 338 | — | 260 | 338 | 598 | 91 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX001 | — | 1,045 | 1,353 | 3 | 1,045 | 1,356 | 2,401 | 366 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX002 | — | 593 | 767 | (2 | ) | 593 | 765 | 1,358 | 208 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX004 | — | 838 | 1,083 | (2 | ) | 838 | 1,081 | 1,919 | 294 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX005 | — | 528 | 682 | (1 | ) | 528 | 681 | 1,209 | 185 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX006 | — | 480 | 622 | (1 | ) | 480 | 621 | 1,101 | 168 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX007 | — | 975 | 1,261 | (3 | ) | 975 | 1,258 | 2,233 | 342 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX008 | — | 1,108 | 1,433 | (3 | ) | 1,108 | 1,430 | 2,538 | 388 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX009 | — | 425 | 549 | (56 | ) | 425 | 493 | 918 | 140 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX010 | — | 518 | 671 | 2 | 518 | 673 | 1,191 | 182 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX011 | — | 758 | 981 | 3 | 758 | 984 | 1,742 | 266 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX013 | — | 375 | 485 | (1 | ) | 375 | 484 | 859 | 131 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX014 | — | 438 | 567 | (1 | ) | 438 | 566 | 1,004 | 154 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX017 | — | 561 | 726 | 2 | 561 | 728 | 1,289 | 196 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX018 | — | 753 | 976 | 2 | 753 | 978 | 1,731 | 264 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX019 | — | 521 | 675 | 2 | 521 | 677 | 1,198 | 183 | 2004 | 40 | ||||||||||||||||||||||||||||
Texas | ETX020 | — | 634 | 821 | (1 | ) | 634 | 820 | 1,454 | 222 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX021 | — | 379 | 491 | (1 | ) | 379 | 490 | 869 | 133 | 2004 | 40 | |||||||||||||||||||||||||||
Texas | ETX022 | — | 592 | 766 | 2 | 592 | 768 | 1,360 | 207 | 2004 | 40 | ||||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Utah | EUT001 | — | 624 | 808 | 2 | 624 | 810 | 1,434 | 219 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA001 | — | 1,134 | 1,467 | 4 | 1,134 | 1,471 | 2,605 | 397 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA002 | — | 845 | 1,094 | 2 | 845 | 1,096 | 1,941 | 296 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA003 | — | 884 | 1,145 | (2 | ) | 884 | 1,143 | 2,027 | 310 | 2004 | 40 | |||||||||||||||||||||||||||
Virginia | EVA004 | — | 953 | 1,233 | (3 | ) | 953 | 1,230 | 2,183 | 334 | 2004 | 40 | |||||||||||||||||||||||||||
Virginia | EVA005 | — | 487 | 632 | 1 | 487 | 633 | 1,120 | 171 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA006 | — | 425 | 550 | (1 | ) | 425 | 549 | 974 | 149 | 2004 | 40 | |||||||||||||||||||||||||||
Virginia | EVA007 | — | 1,151 | 1,490 | (3 | ) | 1,151 | 1,487 | 2,638 | 403 | 2004 | 40 | |||||||||||||||||||||||||||
Virginia | EVA008 | — | 546 | 707 | 2 | 546 | 709 | 1,255 | 191 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA009 | — | 851 | 1,103 | 3 | 851 | 1,106 | 1,957 | 298 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA010 | — | 819 | 1,061 | 2 | 819 | 1,063 | 1,882 | 287 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA011 | — | 958 | 1,240 | 3 | 958 | 1,243 | 2,201 | 336 | 2004 | 40 | ||||||||||||||||||||||||||||
Virginia | EVA012 | — | 788 | 1,020 | (2 | ) | 788 | 1,018 | 1,806 | 276 | 2004 | 40 | |||||||||||||||||||||||||||
Virginia | EVA013 | — | 554 | 716 | (1 | ) | 554 | 715 | 1,269 | 194 | 2004 | 40 | |||||||||||||||||||||||||||
Washington | EWA001 | — | 1,500 | 6,500 | — | 1,500 | 6,500 | 8,000 | 2,116 | 2003 | 40 | ||||||||||||||||||||||||||||
Wisconsin | EWI001 | — | 521 | 673 | 4 | 521 | 677 | 1,198 | 183 | 2004 | 40 | ||||||||||||||||||||||||||||
Wisconsin | EWI002 | — | 413 | 535 | 2 | 413 | 537 | 950 | 145 | 2004 | 40 | ||||||||||||||||||||||||||||
Wisconsin | EWI003 | — | 542 | 702 | (2 | ) | 542 | 700 | 1,242 | 190 | 2004 | 40 | |||||||||||||||||||||||||||
Wisconsin | EWI004 | — | 793 | 1,025 | (2 | ) | 793 | 1,023 | 1,816 | 278 | 2004 | 40 | |||||||||||||||||||||||||||
Wisconsin | EWI005 | — | 1,124 | 1,455 | 10 | 1,124 | 1,465 | 2,589 | 394 | 2004 | 40 | ||||||||||||||||||||||||||||
Subtotal | $ | — | $ | 129,798 | $ | 248,396 | $ | 89,411 | $ | 129,781 | $ | 337,824 | $ | 467,605 | $ | 85,812 | |||||||||||||||||||||||
RETAIL: | |||||||||||||||||||||||||||||||||||||||
Arizona | RAZ003 | — | 2,625 | 4,875 | 1,355 | 2,625 | 6,230 | 8,855 | 515 | 2009 | 40 | ||||||||||||||||||||||||||||
Arizona | RAZ004 | — | 2,184 | 4,056 | (1,588 | ) | 2,184 | 2,468 | 4,652 | 194 | 2009 | 40 | |||||||||||||||||||||||||||
Arizona | RAZ005 | — | -1 | 2,657 | 2,666 | (277 | ) | 2,657 | 2,389 | 5,046 | 326 | 2011 | 40 | ||||||||||||||||||||||||||
California | RCA001 | — | 2,569 | 3,031 | 370 | 2,569 | 3,401 | 5,970 | 413 | 2010 | 40 | ||||||||||||||||||||||||||||
Colorado | RCO001 | — | -1 | 2,631 | 279 | 5,195 | 2,607 | 5,498 | 8,105 | 1,048 | 2006 | 40 | |||||||||||||||||||||||||||
Florida | RFL003 | — | -1 | 3,950 | — | 10,285 | 3,908 | 10,327 | 14,235 | 2,147 | 2005 | 40 | |||||||||||||||||||||||||||
Hawaii | RHI001 | — | 3,393 | 21,155 | (10,144 | ) | 3,393 | 11,011 | 14,404 | 1,895 | 2009 | 40 | |||||||||||||||||||||||||||
Illinois | RIL001 | — | -1 | — | 336 | 1,193 | — | 1,529 | 1,529 | 406 | 2010 | 40 | |||||||||||||||||||||||||||
Illinois | RIL002 | — | 14,934 | 29,675 | 5,606 | 14,934 | 35,281 | 50,215 | 2,961 | 2012 | 40 | ||||||||||||||||||||||||||||
New Mexico | RNM001 | — | -1 | 1,733 | — | 8,370 | 1,705 | 8,398 | 10,103 | 1,592 | 2005 | 40 | |||||||||||||||||||||||||||
New York | RNY001 | — | -1 | 731 | 6,073 | 699 | 711 | 6,792 | 7,503 | 1,725 | 2005 | 40 | |||||||||||||||||||||||||||
Pennsylvania | RPA001 | — | 5,687 | 56,950 | 2,367 | 5,687 | 59,317 | 65,004 | 6,264 | 2011 | 40 | ||||||||||||||||||||||||||||
South Carolina | RSC001 | — | 2,126 | 948 | (723 | ) | 1,337 | 1,014 | 2,351 | 185 | 2007 | 40 | |||||||||||||||||||||||||||
Texas | RTX001 | — | -1 | 3,538 | 4,215 | 171 | 3,514 | 4,410 | 7,924 | 1,249 | 2005 | 40 | |||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Texas | RTX002 | — | 1,225 | 2,275 | (791 | ) | 1,225 | 1,484 | 2,709 | — | 2010 | 0 | |||||||||||||||||||||||||||
Texas | RTX003 | — | 630 | 1,170 | (409 | ) | 630 | 761 | 1,391 | — | 2010 | 0 | |||||||||||||||||||||||||||
Utah | RUT001 | — | -1 | 3,502 | — | 5,975 | 3,502 | 5,975 | 9,477 | 1,226 | 2005 | 40 | |||||||||||||||||||||||||||
Virginia | RVA001 | — | 4,720 | 16,711 | — | 4,720 | 16,711 | 21,431 | 1,010 | 2011 | 40 | ||||||||||||||||||||||||||||
Subtotal | $ | — | $ | 58,835 | $ | 154,415 | $ | 27,654 | $ | 57,908 | $ | 182,996 | $ | 240,904 | $ | 23,156 | |||||||||||||||||||||||
HOTEL: | |||||||||||||||||||||||||||||||||||||||
California | HCA002 | — | -1 | 4,394 | 27,030 | (871 | ) | 4,394 | 26,159 | 30,553 | 11,311 | 1998 | 40 | ||||||||||||||||||||||||||
California | HCA003 | — | -1 | 3,308 | 20,623 | (664 | ) | 3,308 | 19,959 | 23,267 | 8,614 | 1998 | 40 | ||||||||||||||||||||||||||
Colorado | HCO001 | — | -1 | 1,242 | 7,865 | (253 | ) | 1,242 | 7,612 | 8,854 | 3,278 | 1998 | 40 | ||||||||||||||||||||||||||
Georgia | HGA001 | — | 6,378 | 25,514 | 858 | 6,378 | 26,372 | 32,750 | 3,700 | 2010 | 40 | ||||||||||||||||||||||||||||
Hawaii | HHI001 | — | -1 | 17,996 | 17,996 | 6,573 | 17,996 | 24,569 | 42,565 | 4,531 | 2009 | 40 | |||||||||||||||||||||||||||
Hawaii | HHI002 | — | 3,000 | 12,000 | 1,090 | 3,000 | 13,090 | 16,090 | 1,628 | 2009 | 40 | ||||||||||||||||||||||||||||
Utah | HUT001 | — | -1 | 5,620 | 32,695 | (1,058 | ) | 5,620 | 31,637 | 37,257 | 13,790 | 1998 | 40 | ||||||||||||||||||||||||||
Washington | HWA004 | — | -1 | 5,101 | 32,080 | (1,031 | ) | 5,101 | 31,049 | 36,150 | 13,383 | 1998 | 40 | ||||||||||||||||||||||||||
Subtotal | $ | — | $ | 47,039 | $ | 175,803 | $ | 4,644 | $ | 47,039 | $ | 180,447 | $ | 227,486 | $ | 60,235 | |||||||||||||||||||||||
APARTMENT/RESIDENTIAL: | |||||||||||||||||||||||||||||||||||||||
Arizona | AAZ001 | — | 2,423 | — | 13,372 | 2,423 | 13,372 | 15,795 | — | 2010 | 0 | ||||||||||||||||||||||||||||
California | ACA001 | — | 7,333 | 29,333 | (33,290 | ) | 675 | 2,701 | 3,376 | — | 2009 | 0 | |||||||||||||||||||||||||||
California | ACA002 | — | 10,078 | 40,312 | (43,252 | ) | 1,428 | 5,710 | 7,138 | — | 2007 | 0 | |||||||||||||||||||||||||||
Florida | AFL001 | — | 2,394 | 24,206 | (26,420 | ) | 16 | 164 | 180 | — | 2009 | 0 | |||||||||||||||||||||||||||
Florida | AFL002 | — | 6,540 | 15,260 | (21,800 | ) | — | — | — | — | 2010 | 0 | |||||||||||||||||||||||||||
Florida | AFL003 | — | 30,900 | 30,900 | (56,430 | ) | 2,685 | 2,685 | 5,370 | — | 2011 | 0 | |||||||||||||||||||||||||||
Georgia | AGA001 | — | -1 | 2,963 | 11,850 | 10,323 | 5,027 | 20,109 | 25,136 | — | 2010 | 0 | |||||||||||||||||||||||||||
Hawaii | AHI001 | — | 8,080 | 12,120 | (18,535 | ) | 666 | 999 | 1,665 | — | 2010 | 0 | |||||||||||||||||||||||||||
Hawaii | AHI003 | — | 3,483 | 9,417 | (12,417 | ) | 130 | 353 | 483 | — | 2009 | 0 | |||||||||||||||||||||||||||
New Jersey | ANJ001 | — | 36,405 | 64,719 | (100,639 | ) | 175 | 310 | 485 | — | 2009 | 0 | |||||||||||||||||||||||||||
Nevada | ANZ001 | — | 18,117 | 106,829 | (117,328 | ) | 1,104 | 6,514 | 7,618 | — | 2009 | 0 | |||||||||||||||||||||||||||
Pennsylvania | APA001 | — | -1 | 44,438 | 82,527 | (117,620 | ) | 3,271 | 6,074 | 9,345 | — | 2012 | 0 | ||||||||||||||||||||||||||
Pennsylvania | APA002 | — | 15,890 | 29,510 | (8,356 | ) | 15,891 | 21,153 | 37,044 | — | 2012 | 0 | |||||||||||||||||||||||||||
Washington | AWA001 | — | 2,342 | 44,478 | (44,703 | ) | 106 | 2,011 | 2,117 | — | 2009 | 0 | |||||||||||||||||||||||||||
Subtotal | $ | — | $ | 191,386 | $ | 501,461 | $ | (577,095 | ) | $ | 33,597 | $ | 82,155 | $ | 115,752 | $ | — | ||||||||||||||||||||||
MIXED USE: | |||||||||||||||||||||||||||||||||||||||
Arizona | MAZ002 | — | 10,182 | 52,544 | 20,731 | 10,030 | 73,427 | 83,457 | 8,752 | 2011 | 40 | ||||||||||||||||||||||||||||
California | MCA001 | — | 5,869 | 629 | 2 | 5,870 | 630 | 6,500 | 262 | 2010 | 40 | ||||||||||||||||||||||||||||
Florida | MFL001 | — | 8,450 | 8,216 | (2,405 | ) | 8,450 | 5,811 | 14,261 | 1,742 | 2008 | 40 | |||||||||||||||||||||||||||
Florida | MFL002 | — | 18,229 | 20,899 | 1,637 | 18,229 | 22,536 | 40,765 | 729 | 2014 | 40 | ||||||||||||||||||||||||||||
Initial Cost to Company | Cost | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||
Capitalized | at Close of Period | ||||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
State | Encumbrances | Land | Building and | Acquisition(2) | Land | Building and | Total | Accumulated | Date | Depreciable | |||||||||||||||||||||||||||||
Improvements | Improvements | Depreciation | Acquired | Life | |||||||||||||||||||||||||||||||||||
(Years) | |||||||||||||||||||||||||||||||||||||||
Florida | MFL003 | — | 2,507 | 8,155 | 1,224 | 2,507 | 9,379 | 11,886 | 332 | 2014 | 40 | ||||||||||||||||||||||||||||
Florida | MFL004 | — | 4,201 | 14,652 | 882 | 4,201 | 15,534 | 19,735 | 418 | 2014 | 40 | ||||||||||||||||||||||||||||
Georgia | MGA001 | — | -1 | 4,480 | 17,916 | 2,274 | 4,479 | 20,191 | 24,670 | 705 | 2010 | 40 | |||||||||||||||||||||||||||
Subtotal | $ | — | $ | 53,918 | $ | 123,011 | $ | 24,345 | $ | 53,766 | $ | 147,508 | $ | 201,274 | $ | 12,940 | |||||||||||||||||||||||
Total | $ | 251,150 | $ | 1,575,297 | $ | 2,152,990 | $ | (283,611 | ) | $ | 1,416,905 | $ | 2,027,771 | $ | 3,444,676 | -4 | $ | 481,980 | -5 | ||||||||||||||||||||
-5 | |||||||||||||||||||||||||||||||||||||||
Explanatory Notes: | |||||||||||||||||||||||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||||||||||||||||||||||
-1 | Consists of properties pledged as collateral under the Company's secured credit facilities with a total book value of $381.6 million | ||||||||||||||||||||||||||||||||||||||
-2 | Includes impairments and unit sales. | ||||||||||||||||||||||||||||||||||||||
-3 | These properties have land improvements which have depreciable lives of 15 to 20 years. | ||||||||||||||||||||||||||||||||||||||
-4 | The aggregate cost for Federal income tax purposes was approximately $3.78 billion at December 31, 2014. | ||||||||||||||||||||||||||||||||||||||
-5 | Includes $13.1 million relating to accumulated depreciation for real estate assets held for sale as of December 31, 2014. | ||||||||||||||||||||||||||||||||||||||
1. Reconciliation of Real Estate: | |||||||||||||||||||||||||||||||||||||||
The following table reconciles Real Estate from January 1, 2012 to December 31, 2014: | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | 3,589,072 | $ | 3,763,310 | $ | 3,927,750 | |||||||||||||||||||||||||||||||||
Improvements and additions | 145,238 | 126,664 | 111,760 | ||||||||||||||||||||||||||||||||||||
Acquisitions through foreclosure | 77,867 | 31,764 | 269,100 | ||||||||||||||||||||||||||||||||||||
Other acquisitions | 4,666 | 69,379 | — | ||||||||||||||||||||||||||||||||||||
Dispositions | (341,453 | ) | (388,906 | ) | (510,504 | ) | |||||||||||||||||||||||||||||||||
Impairments | (30,714 | ) | (13,139 | ) | (34,796 | ) | |||||||||||||||||||||||||||||||||
Balance at December 31 | $ | 3,444,676 | $ | 3,589,072 | $ | 3,763,310 | |||||||||||||||||||||||||||||||||
2. Reconciliation of Accumulated Depreciation: | |||||||||||||||||||||||||||||||||||||||
The following table reconciles Accumulated Depreciation from January 1, 2012 to December 31, 2014: | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Balance at January 1 | $ | (432,374 | ) | $ | (388,346 | ) | $ | (356,810 | ) | ||||||||||||||||||||||||||||||
Additions | (62,299 | ) | (59,208 | ) | (59,968 | ) | |||||||||||||||||||||||||||||||||
Dispositions | 12,693 | 15,180 | 28,432 | ||||||||||||||||||||||||||||||||||||
Balance at December 31 | $ | (481,980 | ) | $ | (432,374 | ) | $ | (388,346 | ) |
Schedule_IV_Mortgage_Loans_on_
Schedule IV - Mortgage Loans on Real Estate (Notes) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||
Mortgage Loans on Real Estate [Abstract] | |||||||||||||||||||||||
Schedule IV - Mortgage Loans on Real Estate | iStar Financial Inc. | ||||||||||||||||||||||
Schedule IV—Mortgage Loans on Real Estate | |||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||
Type of Loan/Borrower | Underlying Property Type | Contractual | Contractual | Effective | Periodic | Prior | Face | Carrying | |||||||||||||||
Interest | Interest | Maturity | Payment | Liens | Amount | Amount | |||||||||||||||||
Accrual | Payment | Dates | Terms | of | of | ||||||||||||||||||
Rates | Rates | Mortgages | Mortgages(1)(2) | ||||||||||||||||||||
Senior Mortgages: | |||||||||||||||||||||||
Borrower A | Office | LIBOR + 5.25% | LIBOR + 5.25% | Dec-17 | IO | $ | — | $ | 142,736 | $ | 140,553 | ||||||||||||
Borrower B(3) | Mixed Use/Mixed Collateral | LIBOR + 8% | LIBOR + 8% | Jan-17 | IO | — | 118,750 | 117,818 | |||||||||||||||
Borrower C | Mixed Use/Mixed Collateral | LIBOR + 6% | LIBOR + 6% | Jul-17 | IO | — | 93,500 | 92,525 | |||||||||||||||
Borrower D | Apartment/Residential | LIBOR + 5.25% | LIBOR + 5.25% | Jan-15 | IO | — | 63,842 | 64,574 | |||||||||||||||
Borrower E(4) | Retail | LIBOR + 3% | LIBOR + 3% | Jul-09 | IO | — | 46,075 | 24,270 | |||||||||||||||
Senior mortgages individually <3% | Apartment/Residential, Retail, Land, Industrial/R&D, Mixed Use/Mixed Collateral, Office, Hotel, Other | Fixed: 4% to 13% Variable: LIBOR + 2.75% to LIBOR + 8% | Fixed: 4% to 9.68% Variable: LIBOR + 2.75% to LIBOR + 8% | 2015 to 2024 | 276,626 | 233,355 | |||||||||||||||||
741,529 | 673,095 | ||||||||||||||||||||||
Subordinate Mortgages: | |||||||||||||||||||||||
Borrower F | Other | 8% | 8% | Apr-15 | IO | $ | 100,000 | 25,000 | 24,992 | ||||||||||||||
Subordinate mortgages individually <3% | Retail, Hotel, Other | Fixed: 6.8% to 14% | Fixed: 8.12% to 14% | 2015 to 2057 | 28,274 | 28,339 | |||||||||||||||||
53,274 | 53,331 | ||||||||||||||||||||||
Total mortgages | $ | 794,803 | $ | 726,426 | |||||||||||||||||||
Explanatory Notes: | |||||||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||||||
-1 | Amounts are presented net of asset-specific reserves of $64.4 million on impaired loans. Impairment is measured using the estimated fair value of collateral, less costs to sell. | ||||||||||||||||||||||
-2 | The carrying amount of mortgages approximated the federal income tax basis. | ||||||||||||||||||||||
-3 | As of December 31, 2014, included a LIBOR interest rate floor of 0.25%. | ||||||||||||||||||||||
-4 | Loan is in default with $46.1 million of principal that is more than 90 days delinquent. Loan is designated as non-performing and is on non-accrual status. As of December 31, 2014, included a LIBOR interest rate floor of 4.0%. | ||||||||||||||||||||||
iStar Financial Inc. | |||||||||||||||||||||||
Schedule IV—Mortgage Loans on Real Estate (Continued) | |||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||
Reconciliation of Mortgage Loans on Real Estate: | |||||||||||||||||||||||
The following table reconciles Mortgage Loans on Real Estate from January 1, 2012 to December 31, 2014(1): | |||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||
Balance at January 1 | $ | 827,796 | $ | 1,421,654 | $ | 2,449,554 | |||||||||||||||||
Additions: | |||||||||||||||||||||||
New mortgage loans | 476,332 | 19,249 | 2,205 | ||||||||||||||||||||
Additions under existing mortgage loans | 13,108 | 31,589 | 29,887 | ||||||||||||||||||||
Other(2) | 26,156 | 16,385 | 33,324 | ||||||||||||||||||||
Deductions(3): | |||||||||||||||||||||||
Collections of principal | (532,465 | ) | (636,883 | ) | (700,943 | ) | |||||||||||||||||
Recovery of (provision for) loan losses | 483 | 25,011 | (121,869 | ) | |||||||||||||||||||
Transfers to real estate and equity investments | (84,912 | ) | (49,100 | ) | (270,359 | ) | |||||||||||||||||
Amortization of premium | (72 | ) | (109 | ) | (145 | ) | |||||||||||||||||
Balance at December 31 | $ | 726,426 | $ | 827,796 | $ | 1,421,654 | |||||||||||||||||
Explanatory Notes: | |||||||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||||||
-1 | Balances represent the carrying value of loans, which are net of asset specific reserves. | ||||||||||||||||||||||
-2 | Amount includes amortization of discount, deferred interest capitalized and mark-to-market adjustments resulting from changes in foreign exchange rates. | ||||||||||||||||||||||
-3 | Amounts are presented net of charge-offs of $239.6 million, $152.8 million and $106.9 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Capitalization and depreciation | Capitalization and depreciation—Certain improvements and replacements are capitalized when they extend the useful life of the asset. For real estate projects, the Company begins to capitalize qualified development and construction costs, including interest, real estate taxes, compensation and certain other carrying costs incurred which are specifically identifiable to a development project once activities necessary to get the asset ready for its intended use have commenced. If specific allocation of costs is not practicable, the Company will allocate costs based on relative fair value prior to construction or relative sales value, relative size or other value methods as appropriate during construction. The Company ceases capitalization on the portions substantially completed and ready for their intended use. Repairs and maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method of cost recovery over the estimated useful life, which is generally 40 years for facilities, five years for furniture and equipment, the shorter of the remaining lease term or expected life for tenant improvements and the remaining useful life of the facility for facility improvements. |
Purchase price allocation | Purchase price allocation—Upon acquisition of real estate, the Company determines whether the transaction is a business combination, which is accounted for under the acquisition method, or an acquisition of assets. For both types of transactions, the Company recognizes and measures identifiable assets acquired, liabilities assumed and any noncontrolling interest in the acquiree based on their relative fair values. For business combinations, the Company recognizes and measures goodwill or gain from a bargain purchase, if applicable, and expenses acquisition-related costs in the periods in which the costs are incurred and the services are received. For acquisitions of assets, acquisition-related costs are capitalized and recorded in "Real estate, net" on the Company's Consolidated Balance Sheets. |
The Company accounts for its acquisition of properties by recording the purchase price of tangible and intangible assets and liabilities acquired based on their estimated fair values. The value of the tangible assets, consisting of land, buildings, building improvements and tenant improvements is determined as if these assets are vacant. Intangible assets may include the value of above-market leases, in-place leases and the value of customer relationships, which are each recorded at their estimated fair values and included in “Deferred expenses and other assets, net” on the Company's Consolidated Balance Sheets. Intangible liabilities may include the value of below-market leases, which are recorded at their estimated fair values and included in “Accounts payable, accrued expenses and other liabilities” on the Company's Consolidated Balance Sheets. In-place leases and customer relationships are amortized over the remaining non-cancelable term and the amortization expense is included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations. The capitalized above-market (or below-market) lease value is amortized as a reduction of (or, increase to) operating lease income over the remaining non-cancelable term of each lease plus any renewal periods with fixed rental terms that are considered to be below-market. The Company also engages in sale/leaseback transactions and typically executes leases with the occupant simultaneously with the purchase of the net lease asset. | |
Impairments | Impairments—The Company reviews long-lived assets to be held and used, for impairment in value whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The value of a long-lived asset held for use is impaired only if management's estimate of the aggregate future cash flows (undiscounted and without interest charges) to be generated by the asset (taking into account the anticipated holding period of the asset) is less than the carrying value. Such estimate of cash flows considers factors such as expected future operating income trends, as well as the effects of demand, competition and other economic factors. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount of the property over the estimated fair value of the asset and reflected as an adjustment to the basis of the asset. Impairments of real estate assets that are not held for sale are recorded in "Impairment of assets" on the Company's Consolidated Statements of Operations. Impairments of real estate assets that are disposed of or classified as held for sale after December 31, 2013 and which do not represent a strategic shift that has (or will have) a major effect on the Company's operations and financial results are also recorded in "Impairments of assets" on the Company's Consolidated Statements of Operations. |
Real estate available and held for sale | Real estate available and held for sale—The Company reports real estate assets to be sold at the lower of their carrying amount or estimated fair value less costs to sell and classifies them as “Real estate available and held for sale” on the Company's Consolidated Balance Sheets. If the estimated fair value less costs to sell is less than the carrying value, the difference will be recorded as an impairment charge. Impairment for real estate assets sold or classified as held for sale on or before December 31, 2013 are included in "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations. Impairment for real estate assets disposed of or classified as held for sale after December 31, 2013 are included in "Impairment of assets" on the Company's Consolidated Statements of Operations. Once a real estate asset is classified as held for sale and represents a strategic shift, depreciation expense is no longer recorded and historical operating results, including impairments, are reclassified to "Income (loss) from discontinued operations" on the Company's Consolidated Statements of Operations. |
If circumstances arise that were previously considered unlikely and, as a result the Company decides not to sell a property previously classified as held for sale, the property is reclassified as held and used and included in "Real estate, net" on the Company's Consolidated Balance Sheets. The Company measures and records a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used, or (ii) the estimated fair value at the date of the subsequent decision not to sell. | |
The Company reports residential property units to be disposed of at the lower of their carrying amount or estimated fair value less costs to sell and classifies them as “Real estate available and held for sale” on the Company's Consolidated Balance Sheets. If the estimated fair value less costs to sell is less than the carrying value, the difference will be recorded as an impairment charge and included in “Impairment of assets” on the Company's Consolidated Statements of Operations. The net carrying costs for residential property units are recorded in “Real estate expense” on the Company's Consolidated Statements of Operations. | |
Dispositions | Dispositions—Revenue from sales of land and gains or losses on the sale of other real estate assets, including residential property, are recognized in accordance with Accounting Standards Codification ("ASC") 360-20, Real Estate Sales. Sales of land and the associated gains on sales for residential property are recognized for full profit recognition upon closing of the sale transactions, when the profit is determinable, the earnings process is virtually complete, the parties are bound by the terms of the contract, all consideration has been exchanged, any permanent financing for which the seller is responsible has been arranged and all conditions for closing have been performed. The Company primarily uses specific identification and the relative sales value method to allocate costs. Revenues from sales of land are included in "Land sales revenue" and costs of land sales are included in "Land cost of sales" on the Company’s Consolidated Statements of Operations. Gains on sales of net lease assets or commercial operating properties disposed of or classified as held for sale on or before December 31, 2013 are recorded in “Gains from discontinued operations” on the Company's Consolidated Statements of Operations. Gain on sales of net lease assets or commercial operating properties disposed of or classified as held for sale after December 31, 2013 and profits on sales of residential property within the operating property segment are included in "Income from sales of real estate" on the Company's Consolidated Statements of Operations. |
Loans receivable and other lending investments, net | Loans receivable and other lending investments, net—Loans receivable and other lending investments, net includes the following investments: senior mortgages, subordinate mortgages, corporate/partnership loans, preferred equity investments and debt securities. Management considers nearly all of its loans to be held-for-investment, although certain investments may be classified as held-for-sale or available-for-sale. |
Loans receivable classified as held-for-investment and debt securities classified as held-to-maturity are reported at their outstanding unpaid principal balance, and include unamortized acquisition premiums or discounts and unamortized deferred loan costs or fees. These loans and debt securities also include accrued and paid-in-kind interest and accrued exit fees that the Company determines are probable of being collected. Debt securities classified as available-for-sale are reported at fair value with unrealized gains and losses included in "Accumulated other comprehensive income (loss)" on the Company's Consolidated Balance Sheets. | |
Loans receivable and other lending investments designated for sale are classified as held-for-sale and are carried at lower of amortized historical cost or estimated fair value. The amount by which carrying value exceeds fair value is recorded as a valuation allowance. Subsequent changes in the valuation allowance are included in the determination of net income (loss) in the period in which the change occurs. | |
Debt securities, other than temporary impairment | For held-to-maturity and available-for-sale debt securities held in "Loans receivable and other lending investments, net," management evaluates whether the asset is other-than-temporarily impaired when the fair market value is below carrying value. The Company considers debt securities other-than-temporarily impaired if (1) the Company has the intent to sell the security, (2) it is more likely than not that it will be required to sell the security before recovery, or (3) it does not expect to recover the entire amortized cost basis of the security. If it is determined that an other-than-temporary impairment exists, the portion related to credit losses, where the Company does not expect to recover its entire amortized cost basis, will be recognized as an "Impairment of assets" on the Company's Consolidated Statements of Operations. If the Company does not intend to sell the security and it is more likely than not that the entity will not be required to sell the security, but the security has suffered a credit loss, the impairment charge will be separated. The credit loss component of the impairment will be recorded as an "Impairment of assets" on the Company's Consolidated Statements of Operations, and the remainder will be recorded in "Accumulated other comprehensive income (loss)" on the Company's Consolidated Balance Sheets. |
Loans and leases receivable, real estate acquired through foreclosure | The Company acquires properties through foreclosure or by deed-in-lieu of foreclosure in full or partial satisfaction of non-performing loans. Based on the Company's strategic plan to realize the maximum value from the collateral received, property is classified as "Real estate, net" or "Real estate available and held for sale" at its estimated fair value when title to the property is obtained. Any excess of the carrying value of the loan over the estimated fair value of the property (less costs to sell for assets held for sale) is charged-off against the reserve for loan losses as of the date of foreclosure. |
Equity and cost method investments | Equity and cost method investments—Equity interests are accounted for pursuant to the equity method of accounting if the Company can significantly influence the operating and financial policies of an investee. This is generally presumed to exist when ownership interest is between 20% and 50% of a corporation, or greater than 5% of a limited partnership or certain limited liability companies. The Company's periodic share of earnings and losses in equity method investees is included in "Earnings from equity method investments" on the Consolidated Statements of Operations. When the Company's ownership position is too small to provide such influence, the cost method is used to account for the equity interest. Equity and cost method investments are included in "Other investments" on the Company's Consolidated Balance Sheets. |
To the extent that the Company contributes assets to an unconsolidated subsidiary, the Company’s investment in the subsidiary is recorded at the Company’s cost basis in the assets that were contributed to the unconsolidated subsidiary. To the extent that the Company’s cost basis is different from the basis reflected at the subsidiary level, when required, the basis difference is amortized over the life of the related assets and included in the Company’s share of equity in net income (loss) of the unconsolidated subsidiary, as appropriate. The Company recognizes gains on the contribution of real estate to unconsolidated subsidiaries, relating solely to the outside partner’s interest, to the extent the economic substance of the transaction is a sale. The Company recognizes a loss when it contributes property to an unconsolidated subsidiary and receives a disproportionately small interest in the subsidiary based on a comparison of the carrying amount of the property with the cash and other consideration contributed by the other investors. | |
The Company periodically reviews equity method investments for impairment in value whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. The Company will record an impairment charge to the extent that the estimated fair value of an investment is less than its carrying value and the Company determines the impairment is other-than-temporary. Impairment charges are recorded in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. | |
Cash and cash equivalents | Cash and cash equivalents—Cash and cash equivalents include cash held in banks or invested in money market funds with original maturity terms of less than 90 days. |
Restricted cash | Restricted cash—Restricted cash represents amounts required to be maintained under certain of the Company's debt obligations, loans, leasing, land development, sale and derivative transactions. |
Variable interest entities | Variable interest entities—The Company evaluated its investments and other contractual arrangements to determine if they constitute variable interests in a VIE. A VIE is an entity where a controlling financial interest is achieved through means other than voting rights. A VIE is consolidated by the primary beneficiary, which is the party that has the power to direct matters that most significantly impact the activities of the VIE and has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. This overall consolidation assessment includes a review of, among other factors, which interests create or absorb variability, contractual terms, the key decision making powers, their impact on the VIE's economic performance, and related party relationships. Where qualitative assessment is not conclusive, the Company performs a quantitative analysis. The Company reassesses its evaluation of the primary beneficiary of a VIE on an ongoing basis and assesses its evaluation of an entity as a VIE upon certain reconsideration events. |
The Company has investments in certain funds that meet the deferral criteria in Accounting Standards Update ("ASU") 2010-10 and will continue to assess consolidation of these entities under the overall guidance on the consolidation of VIEs in ASC 810-10. The consolidation evaluation is similar to the process noted above, except that the primary beneficiary is the party that will receive a majority of the VIE's anticipated losses, a majority of the VIE's expected residual returns, or both. In addition, for entities that meet the deferral criteria, the Company reassesses its initial evaluation of the primary beneficiary and whether an entity is a VIE upon the occurrence of certain reconsideration events. | |
Deferred expense | Deferred expenses—Deferred expenses include leasing costs and financing fees. Leasing costs include brokerage, legal and other costs which are amortized over the life of the respective leases. External fees and costs incurred to obtain long-term financing have been deferred and are amortized over the term of the respective borrowing using the effective interest method. Amortization of leasing costs is included in "Depreciation and amortization" and amortization of deferred financing fees is included in "Interest expense" on the Company's Consolidated Statements of Operations. |
Identified intangible assets and liabilities | Identified intangible assets and liabilities—Upon the acquisition of a business, the Company records intangible assets or liabilities acquired at their estimated fair values and determines whether such intangible assets or liabilities have finite or indefinite lives. As of December 31, 2014, all such intangible assets and liabilities acquired by the Company have finite lives. Intangible assets are included in "Deferred expenses and other assets, net" and intangible liabilities are included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The Company amortizes finite lived intangible assets and liabilities based on the period over which the assets are expected to contribute directly or indirectly to the future cash flows of the business acquired. The Company reviews finite lived intangible assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. If the Company determines the carrying value of an intangible asset is not recoverable it will record an impairment charge to the extent its carrying value exceeds its estimated fair value. Impairments of intangible assets are recorded in "Impairment of assets" on the Company's Consolidated Statements of Operations. |
Revenue recognition leases | Operating lease income: The Company's leases have all been determined to be operating leases based on an analysis performed in accordance with ASC 840. Operating lease income is recognized on the straight-line method of accounting, generally from the later of the date the lessee takes possession of the space and it is ready for its intended use or the date of acquisition of the facility subject to existing leases. Accordingly, contractual lease payment increases are recognized evenly over the term of the lease. The periodic difference between lease revenue recognized under this method and contractual lease payment terms is recorded as "Deferred operating lease income receivable," on the Company's Consolidated Balance Sheets. |
The Company also recognizes revenue from certain tenant leases for reimbursements of all or a portion of operating expenses, including common area costs, insurance, utilities and real estate taxes of the respective property. This revenue is accrued in the same periods as the expense is incurred and is recorded as “Operating lease income” on the Company's Consolidated Statements of Operations. Revenue is also recorded from certain tenant leases that is contingent upon tenant sales exceeding defined thresholds. These rents are recognized only after the defined threshold has been met for the period. | |
Operating lease allowance for doubtful accounts | Management estimates losses within its operating lease income receivable and deferred operating lease income receivable balances as of the balance sheet date and incorporates an asset-specific component, as well as a general, formula-based reserve based on management's evaluation of the credit risks associated with these receivables. As of December 31, 2014 and 2013, the allowance for doubtful accounts related to real estate tenant receivables was $1.3 million and $3.4 million, respectively, and the allowance for doubtful accounts related to deferred operating lease income was $2.4 million and $2.4 million, respectively. |
Interest Income | Interest Income: Interest income on loans receivable is recognized on an accrual basis using the interest method. |
On occasion, the Company may acquire loans at premiums or discounts. These discounts and premiums in addition to any deferred costs or fees, are typically amortized over the contractual term of the loan using the interest method. Exit fees are also recognized over the lives of the related loans as a yield adjustment, if management believes it is probable that such amounts will be received. If loans with premiums, discounts, loan origination or exit fees are prepaid, the Company immediately recognizes the unamortized portion, which is included in "Other income" or "Other expense" on the Company's Consolidated Statements of Operations. | |
The Company considers a loan to be non-performing and places loans on non-accrual status at such time as: (1) the loan becomes 90 days delinquent; (2) the loan has a maturity default; or (3) management determines it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan. While on non-accrual status, based on the Company's judgment as to collectability of principal, loans are either accounted for on a cash basis, where interest income is recognized only upon actual receipt of cash, or on a cost-recovery basis, where all cash receipts reduce a loan's carrying value. Non-accrual loans are returned to accrual status when a loan has become contractually current and management believes all amounts contractually owed will be received. | |
Certain of the Company's loans contractually provide for accrual of interest at specified rates that differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest and outstanding principal are ultimately collectible, based on the underlying collateral and operations of the borrower. | |
Prepayment penalties or yield maintenance payments from borrowers are recognized as additional income when received. Certain of the Company's loan investments provide for additional interest based on the borrower's operating cash flow or appreciation of the underlying collateral. Such amounts are considered contingent interest and are reflected as interest income only upon receipt of cash. | |
Revenue recognition | Revenue recognition—The Company's revenue recognition policies are as follows: |
Operating lease income: The Company's leases have all been determined to be operating leases based on an analysis performed in accordance with ASC 840. Operating lease income is recognized on the straight-line method of accounting, generally from the later of the date the lessee takes possession of the space and it is ready for its intended use or the date of acquisition of the facility subject to existing leases. Accordingly, contractual lease payment increases are recognized evenly over the term of the lease. The periodic difference between lease revenue recognized under this method and contractual lease payment terms is recorded as "Deferred operating lease income receivable," on the Company's Consolidated Balance Sheets. | |
The Company also recognizes revenue from certain tenant leases for reimbursements of all or a portion of operating expenses, including common area costs, insurance, utilities and real estate taxes of the respective property. This revenue is accrued in the same periods as the expense is incurred and is recorded as “Operating lease income” on the Company's Consolidated Statements of Operations. Revenue is also recorded from certain tenant leases that is contingent upon tenant sales exceeding defined thresholds. These rents are recognized only after the defined threshold has been met for the period. | |
Management estimates losses within its operating lease income receivable and deferred operating lease income receivable balances as of the balance sheet date and incorporates an asset-specific component, as well as a general, formula-based reserve based on management's evaluation of the credit risks associated with these receivables. As of December 31, 2014 and 2013, the allowance for doubtful accounts related to real estate tenant receivables was $1.3 million and $3.4 million, respectively, and the allowance for doubtful accounts related to deferred operating lease income was $2.4 million and $2.4 million, respectively. | |
Interest Income: Interest income on loans receivable is recognized on an accrual basis using the interest method. | |
On occasion, the Company may acquire loans at premiums or discounts. These discounts and premiums in addition to any deferred costs or fees, are typically amortized over the contractual term of the loan using the interest method. Exit fees are also recognized over the lives of the related loans as a yield adjustment, if management believes it is probable that such amounts will be received. If loans with premiums, discounts, loan origination or exit fees are prepaid, the Company immediately recognizes the unamortized portion, which is included in "Other income" or "Other expense" on the Company's Consolidated Statements of Operations. | |
The Company considers a loan to be non-performing and places loans on non-accrual status at such time as: (1) the loan becomes 90 days delinquent; (2) the loan has a maturity default; or (3) management determines it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan. While on non-accrual status, based on the Company's judgment as to collectability of principal, loans are either accounted for on a cash basis, where interest income is recognized only upon actual receipt of cash, or on a cost-recovery basis, where all cash receipts reduce a loan's carrying value. Non-accrual loans are returned to accrual status when a loan has become contractually current and management believes all amounts contractually owed will be received. | |
Certain of the Company's loans contractually provide for accrual of interest at specified rates that differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest and outstanding principal are ultimately collectible, based on the underlying collateral and operations of the borrower. | |
Prepayment penalties or yield maintenance payments from borrowers are recognized as additional income when received. Certain of the Company's loan investments provide for additional interest based on the borrower's operating cash flow or appreciation of the underlying collateral. Such amounts are considered contingent interest and are reflected as interest income only upon receipt of cash. | |
Other income: Other income includes revenues from hotel operations, which are recognized when rooms are occupied and the related services are provided. Revenues include room sales, food and beverage sales, parking, telephone, spa services and gift shop sales. Other income also includes gains from sales of loans, lease termination fees and other ancillary income. | |
Hotel revenue recognition | Other income: Other income includes revenues from hotel operations, which are recognized when rooms are occupied and the related services are provided. Revenues include room sales, food and beverage sales, parking, telephone, spa services and gift shop sales. |
Reserve for loan losses | Reserve for loan losses—The reserve for loan losses reflects management's estimate of loan losses inherent in the loan portfolio as of the balance sheet date. If the Company determines that the collateral value is less than the carrying value of a collateral-dependent loan, the Company will record a reserve. The reserve is increased (decreased) through "Provision for (recovery of) loan losses" on the Company's Consolidated Statements of Operations and is decreased by charge-offs. During delinquency and the foreclosure process, there are typically numerous points of negotiation with the borrower as the Company works toward a settlement or other alternative resolution, which can impact the potential for loan repayment or receipt of collateral. The Company's policy is to charge off a loan when it determines, based on a variety of factors, that all commercially reasonable means of recovering the loan balance have been exhausted. This may occur at different times, including when the Company receives cash or other assets in a pre-foreclosure sale or takes control of the underlying collateral in full satisfaction of the loan upon foreclosure or deed-in-lieu, or when the Company has otherwise ceased significant collection efforts. The Company considers circumstances such as the foregoing to be indicators that the final steps in the loan collection process have occurred and that a loan is uncollectible. At this point, a loss is confirmed and the loan and related reserve will be charged off. The Company has one portfolio segment, represented by commercial real estate lending, whereby it utilizes a uniform process for determining its reserve for loan losses. The reserve for loan losses includes a general, formula-based component and an asset-specific component. |
The general reserve component covers performing loans and reserves for loan losses are recorded when (i) available information as of each balance sheet date indicates that it is probable a loss has occurred in the portfolio and (ii) the amount of the loss can be reasonably estimated. The formula-based general reserve is derived from estimated principal default probabilities and loss severities applied to groups of loans based upon risk ratings assigned to loans with similar risk characteristics during the Company's quarterly loan portfolio assessment. During this assessment, the Company performs a comprehensive analysis of its loan portfolio and assigns risk ratings to loans that incorporate management's current judgments about their credit quality based on all known and relevant internal and external factors that may affect collectability. The Company considers, among other things, payment status, lien position, borrower financial resources and investment in collateral, collateral type, project economics and geographical location as well as national and regional economic factors. This methodology results in loans being segmented by risk classification into risk rating categories that are associated with estimated probabilities of default and principal loss. Ratings range from "1" to "5" with "1" representing the lowest risk of loss and "5" representing the highest risk of loss. The Company estimates loss rates based on historical realized losses experienced within its portfolio and takes into account current economic conditions affecting the commercial real estate market when establishing appropriate time frames to evaluate loss experience. | |
The asset-specific reserve component relates to reserves for losses on impaired loans. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. This assessment is made on a loan-by-loan basis each quarter based on such factors as payment status, lien position, borrower financial resources and investment in collateral, collateral type, project economics and geographical location as well as national and regional economic factors. A reserve is established for an impaired loan when the present value of payments expected to be received, observable market prices, or the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) is lower than the carrying value of that loan. | |
Substantially all of the Company's impaired loans are collateral dependent and impairment is measured using the estimated fair value of collateral, less costs to sell. The Company generally uses the income approach through internally developed valuation models to estimate the fair value of the collateral for such loans. In more limited cases, the Company obtains external "as is" appraisals for loan collateral, generally when third party participations exist. Valuations are performed or obtained at the time a loan is determined to be impaired and designated non-performing, and they are updated if circumstances indicate that a significant change in value has occurred. In limited cases, appraised values may be discounted when real estate markets rapidly deteriorate. | |
A loan is also considered impaired if its terms are modified in a troubled debt restructuring ("TDR"). A TDR occurs when the Company has granted a concession and the debtor is experiencing financial difficulties. Impairments on TDR loans are generally measured based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. | |
Loss on debt extinguishments | Loss on debt extinguishments—The Company recognizes the difference between the reacquisition price of debt and the net carrying amount of extinguished debt currently in earnings. Such amounts may include prepayment penalties or the write-off of unamortized debt issuance costs, and are recorded in “Loss on early extinguishment of debt, net” on the Company's Consolidated Statements of Operations. |
Derivative instruments and hedging activity | Derivative instruments and hedging activity—The Company's use of derivative financial instruments is primarily limited to the utilization of interest rate swaps, interest rate caps or other instruments to manage interest rate risk exposure and foreign exchange contracts to manage our risk to changes in foreign currencies. |
The Company recognizes derivatives as either assets or liabilities on the Company's Consolidated Balance Sheets at fair value. If certain conditions are met, a derivative may be specifically designated as a hedge of the exposure to changes in the fair value of a recognized asset or liability, a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. | |
For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in Accumulated Other Comprehensive Income as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of Accumulated Other Comprehensive Income into earnings when the hedged net investment is either sold or substantially liquidated. | |
Derivatives that are not designated hedges are considered economic hedges, with changes in fair value reported in current earnings in "Other expense" on the Company's Consolidated Statements of Operations. The Company does not enter into derivatives for trading purposes. | |
Stock-based compensation | Stock-based compensation—Compensation cost for stock-based awards is measured on the grant date and adjusted over the period of the employees' services to reflect (i) actual forfeitures and (ii) the outcome of awards with performance or service conditions through the requisite service period. The Company recognizes compensation cost for performance-based awards if and when the Company concludes that it is probable that the performance condition will be achieved. Compensation cost for market condition-based awards is determined using a Monte Carlo model to simulate a range of possible future stock prices for the Company's Common Stock, which is reflected in the grant date fair value. All compensation cost for market-condition based awards in which the service conditions are met is recognized regardless of whether the market condition is satisfied. Compensation costs are recognized ratably over the applicable vesting/service period and recorded in "General and administrative" on the Company's Consolidated Statements of Operations. |
Income taxes | Income taxes—The Company has elected to be qualified and taxed as a REIT under section 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is subject to federal income taxation at corporate rates on its REIT taxable income, however, the Company is allowed a deduction for the amount of dividends paid to its shareholders, thereby subjecting the distributed net income of the Company to taxation at the shareholder level only. While it must distribute at least 90% of its taxable income in order to maintain its REIT status, the Company typically distributes all of its taxable income, if any, in order to minimize any tax on undistributed taxable income. In addition, the Company is allowed several other deductions in computing its REIT taxable income, including non-cash items such as depreciation expense and certain specific reserve amounts that the Company deems to be uncollectable. These deductions allow the Company to reduce its dividend payout requirement under federal tax laws. In addition, the Company has made foreclosure elections for certain properties acquired through foreclosure which allows the Company to operate these properties within the REIT but subjects them to certain tax obligations. The carrying value of assets with foreclosure elections as of December 31, 2014 is $909.3 million. The Company intends to operate in a manner consistent with, and its election to be treated as, a REIT for tax purposes. As of December 31, 2013, the Company had $759.8 million of net operating loss carryforwards at the corporate REIT level, which can generally be used to offset both ordinary and capital taxable income in future years and will expire through 2033 if unused. The amount of net operating loss carryforwards as of December 31, 2014 will be subject to finalization of the Company's 2014 tax return. During the year ended December 31, 2014, the Company did not have REIT taxable income. The Company recognizes interest expense and penalties related to uncertain tax positions, if any, as "Income tax (expense) benefit" on the Company's Consolidated Statements of Operations. |
The Company can participate in certain activities from which it would be otherwise precluded in order to maintain its qualification as a REIT, as long as these activities are conducted in entities which elect to be treated as taxable subsidiaries under the Code, subject to certain limitations. As such, the Company, through its taxable REIT subsidiaries ("TRSs"), is engaged in various real estate related opportunities, primarily related to managing activities related to certain foreclosed assets, as well as managing various investments in equity affiliates. As of December 31, 2014, $541.7 million of the Company's assets were owned by TRS entities. The Company's TRS entities are not consolidated for federal income tax purposes and are taxed as corporations. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in TRS entities. | |
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as operating loss and tax credit carryforwards. The Company evaluates the realizability of its deferred tax assets and recognizes a valuation allowance if, based on the available evidence, both positive and negative, it is more likely than not that some portion or all of its deferred tax assets will not be realized. When evaluating the realizability of its deferred tax assets, the Company considers, among other matters, estimates of expected future taxable income, nature of current and cumulative losses, existing and projected book/tax differences, tax planning strategies available, and the general and industry specific economic outlook. This realizability analysis is inherently subjective, as it requires the Company to forecast its business and general economic environment in future periods. Based on an assessment of all factors, including historical losses and continued volatility of the activities within the TRS entities, it was determined that full valuation allowances were required on the net deferred tax assets as of December 31, 2014 and 2013, respectively. Changes in estimates of deferred tax asset realizability, if any, are included in "Income tax (expense) benefit" on the Consolidated Statements of Operations. | |
Earnings per share | Earnings per share—The Company uses the two-class method in calculating EPS when it issues securities other than common stock that contractually entitle the holder to participate in dividends and earnings of the Company when, and if, the Company declares dividends on its common stock. Vested HPU shares are entitled to dividends of the Company when dividends are declared. Basic earnings per share ("Basic EPS") for the Company's Common Stock and HPU shares are computed by dividing net income allocable to common shareholders and HPU holders by the weighted average number of shares of Common Stock and HPU shares outstanding for the period, respectively. Diluted earnings per share ("Diluted EPS") is calculated similarly, however, it reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower earnings per share amount. |
Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are deemed a "Participating Security" and are included in the computation of earnings per share pursuant to the two-class method. The Company's common stock equivalents granted under its Long-Term Incentive Plans that are eligible to participate in dividends are considered Participating Securities and have been included in the two-class method when calculating EPS. | |
New accounting pronouncements | New accounting pronouncements—In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"). This guidance requires disposals of a component of an entity or group of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results to be reported as discontinued operations. Assets and liabilities of a disposal group that includes a discontinued operation must be presented separately in asset and liability sections, respectively, of the Company's Consolidated Balance Sheets for each comparative period. Expanded disclosures about the assets, liabilities, revenues and expenses of discontinued operations are also required. For individually significant disposals that do not qualify as discontinued operations, disclosure of pre-tax income is required. ASU 2014-08 is effective for interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted for disposals (or classifications as held for sale) that have not been reported in previously-issued financial statements. The Company has elected to early adopt ASU 2014-08 beginning with disposals and classifications of assets as held for sale that occurred after December 31, 2013. |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") which supersedes existing industry-specific guidance, including ASC 360-20, Real Estate Sales. The new standard is principles-based and requires more estimates and judgment than current guidance. Certain contracts with customers, including lease contracts and financial instruments and other contractual rights, are not within the scope of the new guidance. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. Management is evaluating the impact of the guidance on the Company's Consolidated Financial Statements. | |
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12") which requires a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition in accordance with Topic 718, Compensation—Stock Compensation. ASU 2014-12 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | |
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ("ASU 2014-15") which requires management to evaluate whether there is substantial doubt that the Company is able to continue operating as a going concern within one year after the date the financial statements are issued or available to be issued. If there is substantial doubt, additional disclosure is required, including the principal condition or event that raised the substantial doubt, the Company's evaluation of the condition or event in relation to its ability to meet its obligations and the Company's plan to alleviate (or, which is intended to alleviate) the substantial doubt. ASU 2014-15 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | |
In November 2014, the FASB issued ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16") which eliminates the diversity in practice for the accounting for hybrid financial instruments issued in the form of a share. ASU 2014-16 requires management to consider all terms and features, whether stated or implied, of a hybrid instrument when determining whether the nature of the instrument is more akin to a debt instrument or an equity instrument. Embedded derivative features, which are accounted for separately from host contracts, should also be considered in the analysis of the hybrid instrument. ASU 2014-16 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management does not believe the guidance will have a significant impact on the Company's Consolidated Financial Statements. | |
In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis ("ASU 2015-02") which updates the consolidation model for limited partnerships and similar legal entities. ASU 2015-02 includes the evaluation of fees paid to a decision maker as a variable interest and amends the effect of fee arrangements and related parties on the primary beneficiary determination. The guidance is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. Management is evaluating the impact of the guidance on the Company's Consolidated Financial Statements. |
Basis_of_Presentation_and_Prin1
Basis of Presentation and Principles of Consolidation Reclassification (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | The impact of the correction is as follows: | ||||||||||||
As Previously Reported | Change | As Revised | |||||||||||
Cash flows from operating activities: | |||||||||||||
Three months ended March 31, 2014 | $ | (60,678 | ) | $ | (4,143 | ) | $ | (64,821 | ) | ||||
Six months ended June 30, 2014 | (83,477 | ) | (8,630 | ) | (92,107 | ) | |||||||
Nine months ended September 30, 2014 | 1,570 | (11,920 | ) | (10,350 | ) | ||||||||
Cash flows from investing activities: | |||||||||||||
Three months ended March 31, 2014 | $ | 31,318 | $ | 4,143 | $ | 35,461 | |||||||
Six months ended June 30, 2014 | 58,691 | 8,630 | 67,321 | ||||||||||
Nine months ended September 30, 2014 | 295,785 | 11,920 | 307,705 | ||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) (Taxable REIT Subsidiaries [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Taxable REIT Subsidiaries [Member] | ||||||||||||
Entity Information [Line Items] | ||||||||||||
Schedule of deferred tax assets and liabilities | Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands): | |||||||||||
As of December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets(1) | $ | 54,318 | $ | 55,962 | ||||||||
Valuation allowance | (54,318 | ) | (55,962 | ) | ||||||||
Net deferred tax assets (liabilities) | $ | — | $ | — | ||||||||
Explanatory Note: | ||||||||||||
_______________________________________________________________________________ | ||||||||||||
-1 | Deferred tax assets as of December 31, 2014 include timing differences related primarily to real estate basis of $39.3 million, investment basis of $5.9 million and net operating loss carryforwards of $4.1 million. Deferred tax assets as of December 31, 2013, include timing differences related to real estate basis of $33.0 million, investment basis of $8.1 million, and net operating loss carryforwards of $14.9 million. | |||||||||||
Schedule of components of income tax expense (benefit) | The following represents the Company's TRS income tax expense ($ in thousands): | |||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current tax (expense) benefit | $ | (3,912 | ) | $ | 659 | $ | (8,445 | ) | ||||
Deferred tax (expense) benefit | — | — | — | |||||||||
Total income tax (expense) benefit | $ | (3,912 | ) | $ | 659 | $ | (8,445 | ) | ||||
Real_Estate_Tables
Real Estate (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Real Estate [Abstract] | ||||||||||||||||
Schedule of future minimum rental payments for operating leases | Future minimum operating lease payments under non-cancelable leases, excluding customer reimbursements of expenses, in effect at December 31, 2014, are as follows ($ in thousands): | |||||||||||||||
Year | Net Lease Assets | Operating Properties | ||||||||||||||
2015 | $ | 126,316 | $ | 52,823 | ||||||||||||
2016 | 125,653 | 51,437 | ||||||||||||||
2017 | 120,918 | 49,592 | ||||||||||||||
2018 | 118,384 | 44,288 | ||||||||||||||
2019 | 116,348 | 38,707 | ||||||||||||||
Future minimum lease obligations under non-cancelable operating leases are as follows ($ in thousands): | ||||||||||||||||
2015 | $ | 5,598 | ||||||||||||||
2016 | 5,598 | |||||||||||||||
2017 | 4,982 | |||||||||||||||
2018 | 4,179 | |||||||||||||||
2019 | 3,442 | |||||||||||||||
Thereafter | 8,266 | |||||||||||||||
Schedule of Real Estate Assets | The Company's real estate assets were comprised of the following ($ in thousands): | |||||||||||||||
Net Lease | Operating | Land | Total | |||||||||||||
Properties | ||||||||||||||||
As of December 31, 2014 | ||||||||||||||||
Land and land improvements | $ | 311,890 | $ | 146,417 | $ | 868,650 | $ | 1,326,957 | ||||||||
Buildings and improvements | 1,240,593 | 578,013 | — | 1,818,606 | ||||||||||||
Less: accumulated depreciation and amortization | (364,323 | ) | (96,159 | ) | (8,367 | ) | (468,849 | ) | ||||||||
Real estate, net | 1,188,160 | 628,271 | 860,283 | 2,676,714 | ||||||||||||
Real estate available and held for sale | 4,521 | 162,782 | 118,679 | 285,982 | ||||||||||||
Total real estate | $ | 1,192,681 | $ | 791,053 | $ | 978,962 | $ | 2,962,696 | ||||||||
As of December 31, 2013 | ||||||||||||||||
Land and land improvements | $ | 350,817 | $ | 132,934 | $ | 803,238 | $ | 1,286,989 | ||||||||
Buildings and improvements | 1,346,071 | 587,574 | — | 1,933,645 | ||||||||||||
Less: accumulated depreciation and amortization | (338,640 | ) | (82,420 | ) | (3,393 | ) | (424,453 | ) | ||||||||
Real estate, net | 1,358,248 | 638,088 | 799,845 | 2,796,181 | ||||||||||||
Real estate available and held for sale | — | 228,328 | 132,189 | 360,517 | ||||||||||||
Total real estate | $ | 1,358,248 | $ | 866,416 | $ | 932,034 | $ | 3,156,698 | ||||||||
Schedule of Acquisitions of Real Estate Assets, Cash Paid | The following acquisitions of real estate were reflected in the Company's Consolidated Statements of Cash Flows for the years ended December 31, 2014, 2013 and 2012 ($ in thousands): | |||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2014(1) | 2013(2)(3) | 2012(4) | ||||||||||||||
Acquisitions of real estate assets | $ | 4,666 | $ | 102,364 | $ | 9,750 | ||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | During the year ended December 31, 2014, the Company purchased two condominium units for $3.0 million and one land parcel for $1.7 million. | |||||||||||||||
-2 | During the year ended December 31, 2013, the Company acquired a net lease asset for a purchase price of $93.6 million, including intangible assets of $36.1 million, intangible liabilities of $11.9 million and acquisition-related costs of $0.2 million, which was leased back to the seller. The Company concluded that the transaction was a real estate asset acquisition and capitalized the acquisition-related costs. The intangible assets were included in "Deferred expenses and other assets, net" and the intangible liabilities were included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The lease was classified as an operating lease. During the year ended December 31, 2014, the net lease asset was sold to its Net Lease Venture for net proceeds of $93.7 million, which approximated carrying value. | |||||||||||||||
-3 | During the year ended December 31, 2013, the Company paid $8.8 million to redeem a noncontrolling member's interest. | |||||||||||||||
-4 | During the year ended December 31, 2012, the Company acquired approximately 900 parking spaces adjacent to an owned property for $9.8 million. | |||||||||||||||
Schedule of Pro Forma Information, Business Combination | The following unaudited table summarizes the Company's pro forma revenues and net income for the years ended December 31, 2014 and 2013, as if the acquisition of these properties acquired during the year ended December 31, 2014 was completed on January 1, 2013 ($ in thousands): | |||||||||||||||
For the Years Ended | ||||||||||||||||
December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Pro forma total revenues | $ | 466,327 | $ | 399,885 | ||||||||||||
Pro forma net income (loss) | (245 | ) | (112,355 | ) | ||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | The following table summarizes income (loss) from discontinued operations for the years ended December 31, 2013 and 2012 ($ in thousands): | |||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Revenues | $ | 5,545 | $ | 14,132 | ||||||||||||
Total expenses | (3,138 | ) | (9,037 | ) | ||||||||||||
Impairment of assets | (1,763 | ) | (22,576 | ) | ||||||||||||
Income (loss) from discontinued operations | $ | 644 | $ | (17,481 | ) | |||||||||||
Loans_Receivable_and_Other_Len1
Loans Receivable and Other Lending Investments, net (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||
Schedule of the Company's loans and other lending investments by class | The following is a summary of the Company's loans receivable and other lending investments by class ($ in thousands): | |||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
Type of Investment | 2014 | 2013 | ||||||||||||||||||||||
Senior mortgages | $ | 737,535 | $ | 1,071,662 | ||||||||||||||||||||
Subordinate mortgages | 53,331 | 60,679 | ||||||||||||||||||||||
Corporate/Partnership loans | 497,796 | 473,045 | ||||||||||||||||||||||
Total gross carrying value of loans | 1,288,662 | 1,605,386 | ||||||||||||||||||||||
Reserves for loan losses | (98,490 | ) | (377,204 | ) | ||||||||||||||||||||
Total loans receivable, net | 1,190,172 | 1,228,182 | ||||||||||||||||||||||
Other lending investments—securities | 187,671 | 141,927 | ||||||||||||||||||||||
Total loans receivable and other lending investments, net(1) | $ | 1,377,843 | $ | 1,370,109 | ||||||||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of changes in the Company's reserve for loan losses | Changes in the Company's reserve for loan losses were as follows ($ in thousands): | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Reserve for loan losses at beginning of period | $ | 377,204 | $ | 524,499 | $ | 646,624 | ||||||||||||||||||
Provision for (recovery of) loan losses(1) | (1,714 | ) | 5,489 | 81,740 | ||||||||||||||||||||
Charge-offs | (277,000 | ) | (152,784 | ) | (203,865 | ) | ||||||||||||||||||
Reserve for loan losses at end of period | $ | 98,490 | $ | 377,204 | $ | 524,499 | ||||||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. | |||||||||||||||||||||||
Schedule of recorded investment in loans and associated reserve for loan losses | The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands): | |||||||||||||||||||||||
Individually | Collectively | Loans Acquired | Total | |||||||||||||||||||||
Evaluated for | Evaluated for | with Deteriorated | ||||||||||||||||||||||
Impairment(1) | Impairment(2) | Credit Quality(3) | ||||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Loans | $ | 139,672 | $ | 1,156,031 | $ | — | $ | 1,295,703 | ||||||||||||||||
Less: Reserve for loan losses | (64,990 | ) | (33,500 | ) | — | (98,490 | ) | |||||||||||||||||
Total | $ | 74,682 | $ | 1,122,531 | $ | — | $ | 1,197,213 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Loans | $ | 752,425 | $ | 849,613 | $ | 9,889 | $ | 1,611,927 | ||||||||||||||||
Less: Reserve for loan losses | (348,004 | ) | (29,200 | ) | — | (377,204 | ) | |||||||||||||||||
Total | $ | 404,421 | $ | 820,413 | $ | 9,889 | $ | 1,234,723 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of December 31, 2014 and 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income. | |||||||||||||||||||||||
-2 | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $10.6 million and $4.6 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
-3 | The carrying value of the loan includes unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million as of December 31, 2013. The loan had a cumulative principal balance of $10.2 million as of December 31, 2013. The loan was repaid during the year ended December 31, 2014. | |||||||||||||||||||||||
Schedule of investment in performing loans, presented by class and by credit quality, as indicated by risk rating | The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands): | |||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Performing | Weighted | Performing | Weighted | |||||||||||||||||||||
Loans | Average | Loans | Average | |||||||||||||||||||||
Risk Ratings | Risk Ratings | |||||||||||||||||||||||
Senior mortgages | $ | 611,009 | 2.73 | $ | 591,145 | 2.5 | ||||||||||||||||||
Subordinate mortgages | 53,836 | 2.87 | 61,364 | 3.37 | ||||||||||||||||||||
Corporate/Partnership loans | 501,620 | 3.88 | 438,831 | 3.88 | ||||||||||||||||||||
Total | $ | 1,166,465 | 3.23 | $ | 1,091,340 | 3.11 | ||||||||||||||||||
Schedule of recorded investment in loans, aged by payment status and presented by class | As of December 31, 2014, the Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands): | |||||||||||||||||||||||
Current | Less Than | Greater | Total | Total | ||||||||||||||||||||
and Equal | Than | Past Due | ||||||||||||||||||||||
to 90 Days | 90 Days(1) | |||||||||||||||||||||||
Senior mortgages | $ | 644,190 | $ | — | $ | 96,057 | $ | 96,057 | $ | 740,247 | ||||||||||||||
Subordinate mortgages | 53,836 | — | — | — | 53,836 | |||||||||||||||||||
Corporate/Partnership loans | 501,620 | — | — | — | 501,620 | |||||||||||||||||||
Total | $ | 1,199,646 | $ | — | $ | 96,057 | $ | 96,057 | $ | 1,295,703 | ||||||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | As of December 31, 2014, the Company had three loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 5.0 to 6.0 years outstanding. | |||||||||||||||||||||||
Schedule of recorded investment in impaired loans, presented by class | The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands)(1): | |||||||||||||||||||||||
As of December 31, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | |||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | |||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | $ | — | $ | — | $ | — | $ | 3,012 | $ | 2,992 | $ | — | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | 130,645 | 129,744 | (64,440 | ) | 650,337 | 645,463 | (304,544 | ) | ||||||||||||||||
Corporate/Partnership loans | 9,027 | 9,057 | (550 | ) | 99,076 | 99,067 | (43,460 | ) | ||||||||||||||||
Subtotal | 139,672 | 138,801 | (64,990 | ) | 749,413 | 744,530 | (348,004 | ) | ||||||||||||||||
Total: | ||||||||||||||||||||||||
Senior mortgages | 130,645 | 129,744 | (64,440 | ) | 653,349 | 648,455 | (304,544 | ) | ||||||||||||||||
Corporate/Partnership loans | 9,027 | 9,057 | (550 | ) | 99,076 | 99,067 | (43,460 | ) | ||||||||||||||||
Total | $ | 139,672 | $ | 138,801 | $ | (64,990 | ) | $ | 752,425 | $ | 747,522 | $ | (348,004 | ) | ||||||||||
Explanatory Note: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of December 31, 2014 and 2013, certain loans modified through troubled debt restructurings with a recorded investment of $10.4 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status. | |||||||||||||||||||||||
Schedule of average recorded investment in impaired loans and interest income recognized, presented by class | The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands): | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | |||||||||||||||||||
Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | $ | 35,659 | $ | 1,922 | $ | 31,409 | $ | 9,269 | $ | 162,093 | $ | 2,765 | ||||||||||||
Corporate/Partnership loans | — | — | 8,062 | 6,050 | 10,110 | 160 | ||||||||||||||||||
Subtotal | 35,659 | 1,922 | 39,471 | 15,319 | 172,203 | 2,925 | ||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Senior mortgages | 334,351 | 158 | 794,247 | 1,976 | 1,064,045 | 3,865 | ||||||||||||||||||
Subordinate mortgages | — | — | 32,382 | — | 52,208 | — | ||||||||||||||||||
Corporate/Partnership loans | 52,963 | 181 | 77,661 | 323 | 62,248 | 312 | ||||||||||||||||||
Subtotal | 387,314 | 339 | 904,290 | 2,299 | 1,178,501 | 4,177 | ||||||||||||||||||
Total: | ||||||||||||||||||||||||
Senior mortgages | 370,010 | 2,080 | 825,656 | 11,245 | 1,226,138 | 6,630 | ||||||||||||||||||
Subordinate mortgages | — | — | 32,382 | — | 52,208 | — | ||||||||||||||||||
Corporate/Partnership loans | 52,963 | 181 | 85,723 | 6,373 | 72,358 | 472 | ||||||||||||||||||
Total | $ | 422,973 | $ | 2,261 | $ | 943,761 | $ | 17,618 | $ | 1,350,704 | $ | 7,102 | ||||||||||||
Schedule of troubled debt restructurings, presented by class | The recorded investment in these loans was impacted by the modifications as follows, presented by class ($ in thousands): | |||||||||||||||||||||||
For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | |||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Number | Pre-Modification | Post-Modification | |||||||||||||||||||
of Loans | Outstanding | Outstanding | of Loans | Outstanding | Outstanding | |||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||
Senior mortgages | 1 | $ | 7,040 | $ | 7,040 | 6 | $ | 179,030 | $ | 154,278 | ||||||||||||||
Marketable securities | ther lending investments—securities includes the following ($ in thousands): | |||||||||||||||||||||||
Face Value | Amortized Cost Basis | Net Unrealized Gain (Loss) | Estimated Fair Value | Net Carrying Value | ||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||||||||||
Municipal debt securities | $ | 1,020 | $ | 1,020 | $ | 147 | $ | 1,167 | $ | 1,167 | ||||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||||||
Corporate debt securities | 176,254 | 186,504 | — | 190,199 | 186,504 | |||||||||||||||||||
Total | $ | 177,274 | $ | 187,524 | $ | 147 | $ | 191,366 | $ | 187,671 | ||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||||||||||
Municipal debt securities | $ | 1,055 | $ | 1,055 | $ | (18 | ) | $ | 1,037 | $ | 1,037 | |||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||||||
Corporate debt securities | 139,842 | 140,890 | — | 140,890 | 140,890 | |||||||||||||||||||
Total | $ | 140,897 | $ | 141,945 | $ | (18 | ) | $ | 141,927 | $ | 141,927 | |||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | As of December 31, 2014, the contractual maturities of the Company's securities were as follows ($ in thousands): | |||||||||||||||||||||||
Held-to-Maturity Securities | Available-for-Sale Securities | |||||||||||||||||||||||
Amortized Cost Basis | Estimated Fair Value | Amortized Cost Basis | Estimated Fair Value | |||||||||||||||||||||
Maturities | ||||||||||||||||||||||||
Within one year | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
After one year through 5 years | 186,504 | 190,199 | — | — | ||||||||||||||||||||
After 5 years through 10 years | — | — | — | — | ||||||||||||||||||||
After 10 years | — | — | 1,020 | 1,167 | ||||||||||||||||||||
Total | $ | 186,504 | $ | 190,199 | $ | 1,020 | $ | 1,167 | ||||||||||||||||
Other_Investments_Tables
Other Investments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Schedule of other investments and its proportionate share of results for equity method investments | The Company's other investments and its proportionate share of results from equity method investments were as follows ($ in thousands): | |||||||||||||||||||
Carrying Value | Equity in Earnings | |||||||||||||||||||
As of December 31, | For the Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2012 | ||||||||||||||||
Real estate equity investments | $ | 244,886 | $ | 62,205 | $ | 53,428 | $ | 2,753 | $ | 21,636 | ||||||||||
Madison Funds | 45,971 | 67,782 | 3,092 | 14,796 | 10,246 | |||||||||||||||
Other equity method investments(1)(2) | 30,415 | 45,954 | 35,172 | 3,332 | 4,614 | |||||||||||||||
Oak Hill Funds | 17,658 | 21,366 | 3,213 | 4,174 | 5,844 | |||||||||||||||
LNR | — | — | — | 16,465 | 60,669 | |||||||||||||||
Total equity method investments | 338,930 | 197,307 | $ | 94,905 | $ | 41,520 | $ | 103,009 | ||||||||||||
Other | 15,189 | 9,902 | ||||||||||||||||||
Total other investments | $ | 354,119 | $ | 207,209 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | During the year ended December 31, 2014, the Company recognized $23.4 million of earnings from equity method investments resulting from asset sales and a legal settlement by one of its equity method investees. | |||||||||||||||||||
-2 | In conjunction with the sale of the Company's interests in Oak Hill Advisors, L.P. in 2011, the Company retained interests in its share of carried interest related to various funds. During the year ended December 31, 2014, the Company recognized $9.0 million of carried interest income. | |||||||||||||||||||
LNR Property LLC (LNR) | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Schedule of other investments and its proportionate share of results for equity method investments | The following table reconciles the activity related to the Company's investment in LNR for the three months ended March 31, 2013 and June 30, 2013, the six months ended December 31, 2013 and the year ended December 31, 2013 ($ in thousands): | |||||||||||||||||||
For the Three Months Ended March 31, 2013 | For the Three Months Ended June 30, 2013 | For the Six Months Ended December 31, 2013 | For the Year Ended December 31, 2013 | |||||||||||||||||
Carrying value of LNR at beginning of period | $ | 205,773 | $ | 220,281 | $ | — | $ | 205,773 | ||||||||||||
Equity in earnings of LNR for the period(1) | 45,375 | — | — | 45,375 | (a) | |||||||||||||||
Balance before other than temporary impairment | 251,148 | 220,281 | — | 251,148 | ||||||||||||||||
Other than temporary impairment(1) | (30,867 | ) | — | — | (30,867 | ) | (b) | |||||||||||||
Sales proceeds pursuant to contract | — | (220,281 | ) | — | (220,281 | ) | ||||||||||||||
Carrying value of LNR at end of period | 220,281 | — | — | — | ||||||||||||||||
Explanatory Note: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | During the year ended December 31, 2013, the Company recorded an other than temporary impairment of $30.9 million. Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. | |||||||||||||||||||
Schedule of summarized Income Statements | The following table represents investee level summarized financial information for LNR ($ in thousands)(1): | |||||||||||||||||||
For the Period from October 1, 2012 to April 19, 2013 | For the Year Ended September 30, 2012 | |||||||||||||||||||
Income Statements | ||||||||||||||||||||
Total revenue(2) | $ | 179,373 | $ | 332,902 | ||||||||||||||||
Income tax (expense) benefit | (2,137 | ) | (6,731 | ) | ||||||||||||||||
Net income attributable to LNR(3) | 113,478 | 253,039 | ||||||||||||||||||
iStar's ownership percentage | 24 | % | 24 | % | ||||||||||||||||
iStar's equity in earnings from LNR | $ | 45,375 | $ | 60,669 | ||||||||||||||||
For the Period from October 1, 2012 to April 19, 2013 | For the Year Ended September 30, 2012 | |||||||||||||||||||
Cash Flows | ||||||||||||||||||||
Operating cash flows | $ | (127,075 | ) | $ | (85,909 | ) | ||||||||||||||
Cash flows from investing activities | (36,543 | ) | (55,686 | ) | ||||||||||||||||
Cash flows from financing activities | 217,241 | 229,634 | ||||||||||||||||||
Net cash flows | 53,623 | 88,039 | ||||||||||||||||||
Cash distributions | — | 61,179 | ||||||||||||||||||
iStar's ownership percentage | 24 | % | 24 | % | ||||||||||||||||
Cash distributions received by iStar | $ | — | $ | 14,690 | ||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. | |||||||||||||||||||
-2 | LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. Total revenue presented above includes $55.5 million and $95.4 million for the period from October 1, 2012 to April 19, 2013 and for the year ended September 30, 2012, respectively, of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR. | |||||||||||||||||||
-3 | Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. | |||||||||||||||||||
Equity Method Investments Excluding Lnr Property Corporation | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investments | The following tables present the investee level summarized financial information of the Company's equity method investments, excluding LNR which is presented above ($ in thousands): | |||||||||||||||||||
Revenues | Expenses | Net Income Attributable to Parent Entities | ||||||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||||||||
Alinda Infrastructure Fund I, L.P. ("Alinda")(1) | $ | 233,130 | $ | (15,433 | ) | $ | 217,697 | |||||||||||||
Marina Palms, LLC ("Marina Palms") | 114,125 | (77,120 | ) | 37,005 | ||||||||||||||||
OHASCF | 78,262 | (951 | ) | 77,311 | ||||||||||||||||
Moor Park Real Estate Partners II L.P., Incorporated ("Moor Park") | 25,760 | (224 | ) | 25,536 | ||||||||||||||||
MIRELF III | 20,293 | (1,401 | ) | 18,846 | ||||||||||||||||
iStar Net Lease I LLC ("Net Lease Venture")(2) | 13,826 | (9,917 | ) | 3,691 | ||||||||||||||||
Outlets at Westgate, LLC ("Westgate") | 13,118 | (9,618 | ) | 3,500 | ||||||||||||||||
MIRELF III AIV | (1,194 | ) | (384 | ) | (1,578 | ) | ||||||||||||||
Other | 128,719 | (70,555 | ) | 58,202 | ||||||||||||||||
Total | $ | 626,039 | $ | (185,603 | ) | $ | 440,210 | |||||||||||||
Revenues | Expenses | Net Income Attributable to Parent Entities | ||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||
Alinda(1) | $ | 123,447 | $ | (17,927 | ) | $ | 105,520 | |||||||||||||
OHASCF | 72,313 | (1,642 | ) | 70,671 | ||||||||||||||||
MIRELF III AIV | 26,348 | (1,167 | ) | 25,181 | ||||||||||||||||
MIRELF III | 19,460 | (1,675 | ) | 17,739 | ||||||||||||||||
Westgate | 12,447 | (8,889 | ) | 3,558 | ||||||||||||||||
Moor Park | 1,373 | (304 | ) | 1,069 | ||||||||||||||||
Marina Palms(3) | 73 | (3,525 | ) | (3,452 | ) | |||||||||||||||
Other | 29,052 | (42,504 | ) | (14,088 | ) | |||||||||||||||
Total | $ | 284,513 | $ | (77,633 | ) | $ | 206,198 | |||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||
OHASCF | $ | 109,234 | $ | (2,700 | ) | $ | 106,534 | |||||||||||||
Alinda(1) | 104,364 | (16,934 | ) | 87,430 | ||||||||||||||||
MIRELF III | 13,490 | (3,894 | ) | 9,550 | ||||||||||||||||
Westgate | 1,935 | (2,202 | ) | (267 | ) | |||||||||||||||
Moor Park | 1,225 | (435 | ) | 790 | ||||||||||||||||
MIRELF III AIV | (12,762 | ) | (1,731 | ) | (14,493 | ) | ||||||||||||||
Other | 184,384 | (67,495 | ) | 115,416 | ||||||||||||||||
Total | $ | 401,870 | $ | (95,391 | ) | $ | 304,960 | |||||||||||||
Explanatory Notes: | ||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||
-1 | The Company recorded its 1% investment in Alinda on a quarter lag. Therefore, the amounts in the Company's financial statements for the years ended December 31, 2014, 2013 and 2012 were based on balances and results from Alinda for the years ended September 30, 2014, 2013 and 2012, respectively. | |||||||||||||||||||
-2 | The Company began accounting for its investment in Net Lease Venture under the equity method of accounting on February 13, 2014. The amounts in the Company's financial statements for the year ended December 31, 2014 are based on the balances and results from Net Lease Venture for the period from February 13, 2014 to December 31, 2014. | |||||||||||||||||||
-3 | The Company began accounting for its investment in Marina Palms under the equity method of accounting on April 17, 2013. The amounts in the Company's financial statements for the year ended December 31, 2013 are based on the balances and results from Marina Palms for the period from April 17, 2013 to December 31, 2013. | |||||||||||||||||||
As of December 31, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Balance Sheets | ||||||||||||||||||||
Total assets | $ | 3,464,984 | $ | 2,980,737 | ||||||||||||||||
Total liabilities | 479,298 | 303,100 | ||||||||||||||||||
Noncontrolling interests | 3,297 | 333 | ||||||||||||||||||
Total equity | 2,982,389 | 2,677,304 | ||||||||||||||||||
Other_Assets_and_Other_Liabili1
Other Assets and Other Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Other Assets and Other Liabilities [Abstract] | ||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The estimated aggregate amortization costs of lease intangible assets and liabilities for each of the five succeeding fiscal years are as follows ($ in thousands): | |||||||
2015 | $ | 5,929 | ||||||
2016 | 5,677 | |||||||
2017 | 5,308 | |||||||
2018 | 4,987 | |||||||
2019 | 4,830 | |||||||
Schedule of deferred expenses and other assets, net | Deferred expenses and other assets, net, consist of the following items ($ in thousands): | |||||||
As of December 31, | ||||||||
2014 | 2013 | |||||||
Intangible assets, net(1) | $ | 50,088 | $ | 100,652 | ||||
Other assets | 37,085 | 40,726 | ||||||
Deferred financing fees, net(2) | 36,774 | 33,591 | ||||||
Leasing costs, net(3) | 20,031 | 21,799 | ||||||
Other receivables | 13,115 | 34,655 | ||||||
Corporate furniture, fixtures and equipment, net(4) | 5,409 | 6,557 | ||||||
Deferred expenses and other assets, net | $ | 162,502 | $ | 237,980 | ||||
Explanatory Notes: | ||||||||
_______________________________________________________________________________ | ||||||||
-1 | Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $45.1 million and $38.1 million as of December 31, 2014 and 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $7.7 million, $7.0 million and $5.8 million for the years ended December 31, 2014, 2013, and 2012, respectively. The amortization expense for other intangible assets was $6.7 million, $8.2 million and $7.0 million for the years ended December 31, 2014, 2013, and 2012, respectively. These amounts are included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations. | |||||||
-2 | Accumulated amortization on deferred financing fees was $15.4 million and $9.9 million as of December 31, 2014 and 2013, respectively. | |||||||
-3 | Accumulated amortization on leasing costs was $9.0 million and $7.1 million as of December 31, 2014 and 2013, respectively. | |||||||
-4 | Accumulated depreciation on corporate furniture, fixtures and equipment was $7.1 million and $6.2 million as of December 31, 2014 and 2013, respectively. | |||||||
Schedule of accounts payable, accrued expenses and other liabilities | Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands): | |||||||
As of December 31, | ||||||||
2014 | 2013 | |||||||
Accrued expenses | $ | 62,866 | $ | 58,840 | ||||
Accrued interest payable | 57,895 | 40,015 | ||||||
Other liabilities(1) | 48,256 | 45,753 | ||||||
Intangible liabilities, net(2) | 11,885 | 26,223 | ||||||
Accounts payable, accrued expenses and other liabilities | $ | 180,902 | $ | 170,831 | ||||
Explanatory Notes: | ||||||||
_______________________________________________________________________________ | ||||||||
-1 | As of December 31, 2014, "Other liabilities" includes $6.8 million related to a profit sharing payable to a developer for residential units sold. "Other liabilities" also includes $7.7 million related to tax increment financing ("TIF") bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. | |||||||
-2 | Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.2 million and $4.6 million as of December 31, 2014 and 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $2.5 million, $2.8 million and $1.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Debt_Obligations_net_Tables
Debt Obligations, net (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||
Schedule of debt obligations | As of December 31, 2014 and 2013, the Company's debt obligations were as follows ($ in thousands): | |||||||||||||||
Carrying Value as of December 31, | Stated | Scheduled | ||||||||||||||
2014 | 2013 | Interest Rates | Maturity Date | |||||||||||||
Secured credit facilities and term loans: | ||||||||||||||||
2012 Tranche A-2 Facility | $ | 358,504 | $ | 431,475 | LIBOR + 5.75% | -1 | Mar-17 | |||||||||
February 2013 Secured Credit Facility | — | 1,379,407 | LIBOR + 3.50% | -2 | — | |||||||||||
Term loans collateralized by net lease assets | 248,955 | 278,817 | 4.851% - 7.26% | -3 | Various through 2026 | |||||||||||
Total secured credit facilities and term loans | 607,459 | 2,089,699 | ||||||||||||||
Unsecured notes: | ||||||||||||||||
6.05% senior notes | 105,765 | 105,765 | 6.05 | % | Apr-15 | |||||||||||
5.875% senior notes | 261,403 | 261,403 | 5.875 | % | Mar-16 | |||||||||||
3.875% senior notes | 265,000 | 265,000 | 3.875 | % | Jul-16 | |||||||||||
3.0% senior convertible notes(4) | 200,000 | 200,000 | 3 | % | Nov-16 | |||||||||||
1.50% senior convertible notes(5) | 200,000 | 200,000 | 1.5 | % | Nov-16 | |||||||||||
5.85% senior notes | 99,722 | 99,722 | 5.85 | % | Mar-17 | |||||||||||
9.0% senior notes | 275,000 | 275,000 | 9 | % | Jun-17 | |||||||||||
4.00% senior notes | 550,000 | — | 4 | % | Nov-17 | |||||||||||
7.125% senior notes | 300,000 | 300,000 | 7.125 | % | Feb-18 | |||||||||||
4.875% senior notes | 300,000 | 300,000 | 4.875 | % | Jul-18 | |||||||||||
5.00% senior notes | 770,000 | — | 5 | % | Jul-19 | |||||||||||
Total unsecured notes | 3,326,890 | 2,006,890 | ||||||||||||||
Other debt obligations: | ||||||||||||||||
Other debt obligations | 100,000 | 100,000 | LIBOR + 1.50% | Oct-35 | ||||||||||||
Total debt obligations | 4,034,349 | 4,196,589 | ||||||||||||||
Debt discounts, net | (11,665 | ) | (38,464 | ) | ||||||||||||
Total debt obligations, net | $ | 4,022,684 | $ | 4,158,125 | ||||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | The loan has a LIBOR floor of 1.25%. As of December 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%. | |||||||||||||||
-2 | This loan had a LIBOR floor of 1.00%. | |||||||||||||||
-3 | As of December 31, 2014 and 2013, includes a loan with a floating rate of LIBOR plus 2.00%. As of December 31, 2013, includes a loan with a floating rate of LIBOR plus 2.75%. As of December 31, 2014, the weighted average interest rate of these loans is 5.3%. | |||||||||||||||
-4 | The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016. | |||||||||||||||
-5 | The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016. | |||||||||||||||
Schedule of future scheduled maturities of outstanding long-term debt obligations, net | Future Scheduled Maturities—As of December 31, 2014, future scheduled maturities of outstanding long-term debt obligations are as follows ($ in thousands): | |||||||||||||||
Unsecured Debt | Secured Debt | Total | ||||||||||||||
2015 | $ | 105,765 | $ | — | $ | 105,765 | ||||||||||
2016 | 926,403 | — | 926,403 | |||||||||||||
2017 | 924,722 | 358,504 | 1,283,226 | |||||||||||||
2018 | 600,000 | 15,239 | 615,239 | |||||||||||||
2019 | 770,000 | 32,312 | 802,312 | |||||||||||||
Thereafter | 100,000 | 201,404 | 301,404 | |||||||||||||
Total principal maturities | 3,426,890 | 607,459 | 4,034,349 | |||||||||||||
Unamortized debt discounts, net | (8,371 | ) | (3,294 | ) | (11,665 | ) | ||||||||||
Total long-term debt obligations, net | $ | 3,418,519 | $ | 604,165 | $ | 4,022,684 | ||||||||||
Schedule of carrying value of encumbered assets by asset type | Encumbered/Unencumbered Assets—As of December 31, 2014 and 2013, the carrying value of the Company's encumbered and unencumbered assets by asset type are as follows ($ in thousands): | |||||||||||||||
As of December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Encumbered Assets | Unencumbered Assets | Encumbered Assets | Unencumbered Assets | |||||||||||||
Real estate, net | $ | 620,378 | $ | 2,056,336 | $ | 1,644,463 | $ | 1,151,718 | ||||||||
Real estate available and held for sale | 10,496 | 275,486 | 152,604 | 207,913 | ||||||||||||
Loans receivable and other lending investments, net(1) | 46,515 | 1,364,828 | 860,557 | 538,752 | ||||||||||||
Other investments | 17,708 | 336,411 | 24,093 | 183,116 | ||||||||||||
Cash and other assets | — | 768,475 | — | 907,995 | ||||||||||||
Total | $ | 695,097 | $ | 4,801,536 | $ | 2,681,717 | $ | 2,989,494 | ||||||||
Explanatory Note: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | As of December 31, 2014 and 2013, the amounts presented exclude general reserves for loan losses of $33.5 million and $29.2 million, respectively. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||
Schedule of unfunded commitments | As of December 31, 2014, the maximum amount of fundings the Company may be required to make under each category, assuming all performance hurdles and milestones are met under the Performance-Based Commitments, that it approves all Discretionary Fundings and that 100% of its capital committed to Strategic Investments is drawn down, are as follows ($ in thousands): | |||||||||||||||
Loans and Other Lending Investments | Real Estate | Other | Total | |||||||||||||
Investments | ||||||||||||||||
Performance-Based Commitments | $ | 537,924 | $ | 14,667 | $ | 27,004 | $ | 579,595 | ||||||||
Strategic Investments | — | — | 45,714 | 45,714 | ||||||||||||
Discretionary Fundings | 5,000 | — | — | 5,000 | ||||||||||||
Total | $ | 542,924 | $ | 14,667 | $ | 72,718 | $ | 630,309 | ||||||||
Schedule of future minimum rental payments for operating leases | Future minimum operating lease payments under non-cancelable leases, excluding customer reimbursements of expenses, in effect at December 31, 2014, are as follows ($ in thousands): | |||||||||||||||
Year | Net Lease Assets | Operating Properties | ||||||||||||||
2015 | $ | 126,316 | $ | 52,823 | ||||||||||||
2016 | 125,653 | 51,437 | ||||||||||||||
2017 | 120,918 | 49,592 | ||||||||||||||
2018 | 118,384 | 44,288 | ||||||||||||||
2019 | 116,348 | 38,707 | ||||||||||||||
Future minimum lease obligations under non-cancelable operating leases are as follows ($ in thousands): | ||||||||||||||||
2015 | $ | 5,598 | ||||||||||||||
2016 | 5,598 | |||||||||||||||
2017 | 4,982 | |||||||||||||||
2018 | 4,179 | |||||||||||||||
2019 | 3,442 | |||||||||||||||
Thereafter | 8,266 | |||||||||||||||
Risk_Management_and_Derivative1
Risk Management and Derivatives (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||||||||||||||||||||
Schedule of fair value of derivative financial instruments as well as their classification on Consolidated Balance Sheets | The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2014 and 2013 ($ in thousands): | |||||||||||||||||||||||
Derivative Assets as of December 31, | Derivative Liabilities as of December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||||||||||
Location | Value | Location | Value | Location | Value | Location | Value | |||||||||||||||||
Derivatives Designated in Hedging Relationships | ||||||||||||||||||||||||
Foreign exchange contracts | Other Assets | $ | — | Other Assets | $ | 393 | Other Liabilities | $ | 478 | N/A | $ | — | ||||||||||||
Interest rate swaps | Other Assets | 52 | Other Assets | 650 | N/A | — | N/A | — | ||||||||||||||||
Interest rate cap | Other Assets | — | Other Assets | 9,107 | N/A | — | N/A | — | ||||||||||||||||
Total | $ | 52 | $ | 10,150 | $ | 478 | $ | — | ||||||||||||||||
Derivatives not Designated in Hedging Relationships | ||||||||||||||||||||||||
Foreign exchange contracts | Other Assets | $ | 1,534 | Other Assets | $ | 1,025 | N/A | $ | — | Other Liabilities | $ | 1,653 | ||||||||||||
Interest rate cap | Other Assets | $ | 4,775 | N/A | $ | — | N/A | $ | — | N/A | $ | — | ||||||||||||
Total | $ | 6,309 | $ | 1,025 | $ | — | $ | 1,653 | ||||||||||||||||
Schedule of derivative financial instruments on Consolidated Statements of Operations | The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2014, 2013 and 2012 ($ in thousands): | |||||||||||||||||||||||
Derivatives Designated in Hedging Relationships | Location of Gain (Loss) | Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings | ||||||||||||||||||||
Recognized in Income | (Ineffective Portion) | |||||||||||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||||||||||||
Interest rate cap | Interest Expense | $ | — | $ | (56 | ) | N/A | |||||||||||||||||
Interest rate cap | Other Expense | (2,984 | ) | — | (3,634 | ) | ||||||||||||||||||
Interest rate cap | Earnings from equity method investments | (9 | ) | — | N/A | |||||||||||||||||||
Interest rate swaps | Interest Expense | (970 | ) | (6 | ) | N/A | ||||||||||||||||||
Interest rate swap | Earnings from equity method investments | (753 | ) | (420 | ) | N/A | ||||||||||||||||||
Foreign exchange contracts | Earnings from equity method investments | (471 | ) | — | N/A | |||||||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||||||||||||
Interest rate cap | Interest Expense | (1,517 | ) | — | N/A | |||||||||||||||||||
Interest rate swap | Interest Expense | 869 | (310 | ) | N/A | |||||||||||||||||||
Foreign exchange contracts | Earnings from equity method investments | 393 | — | N/A | ||||||||||||||||||||
For the Year Ended December 31, 2012 | ||||||||||||||||||||||||
Interest rate swap | Interest Expense | (968 | ) | 44 | N/A | |||||||||||||||||||
Amount of Gain or (Loss) Recognized in Income | ||||||||||||||||||||||||
Location of Gain or | For the Years Ended December 31, | |||||||||||||||||||||||
(Loss) Recognized in | ||||||||||||||||||||||||
Derivatives not Designated in Hedging Relationships | Income | 2014 | 2013 | 2012 | ||||||||||||||||||||
Interest rate cap | Other Expense | $ | (1,347 | ) | $ | — | $ | — | ||||||||||||||||
Foreign exchange contracts | Other Expense | 7,257 | 880 | (8,920 | ) | |||||||||||||||||||
Foreign exchange contracts | Designated as hedge | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||||||||||||||||||||
Schedule of notional amounts of outstanding derivative positions | As of December 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were designated ($ in thousands): | |||||||||||||||||||||||
Derivative Type | Notional | Notional | Maturity | |||||||||||||||||||||
Amount | (USD Equivalent) | |||||||||||||||||||||||
Sells INR/Buys USD Forward | ₨ | 456,000 | $ | 6,534 | Jun-15 | |||||||||||||||||||
Foreign exchange contracts | Not designated as hedge | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||||||||||||||||||||
Schedule of notional amounts of outstanding derivative positions | As of December 31, 2014, the Company had the following outstanding foreign currency derivatives that were used to hedge its net investments in foreign operations that were not designated ($ in thousands): | |||||||||||||||||||||||
Derivative Type | Notional | Notional | Maturity | |||||||||||||||||||||
Amount | (USD Equivalent) | |||||||||||||||||||||||
Sells euro ("EUR")/Buys USD Forward | € | 18,800 | $ | 23,807 | Jan-15 | |||||||||||||||||||
Sells pound sterling ("GBP")/Buys USD Forward | £ | 3,000 | $ | 4,830 | Jan-15 | |||||||||||||||||||
Sells Canadian dollar ("CAD")/Buys USD Forward | C$ | 10,000 | $ | 8,933 | Jan-15 | |||||||||||||||||||
Interest rate cap | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||||||||||||||||||||
Schedule of notional amounts of outstanding derivative positions | As of December 31, 2014, the Company had the following outstanding interest rate cap that was used to hedge its variable rate debt that was not designated ($ in thousands): | |||||||||||||||||||||||
Derivative Type | Notional | Variable Rate | Fixed Rate | Effective Date | Maturity | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
Interest rate cap | $ | 500,000 | LIBOR | 1.00% | Jul-14 | Jul-17 | ||||||||||||||||||
Interest rate swap | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||||||||||||||||||||
Schedule of notional amounts of outstanding derivative positions | As of December 31, 2014, the Company had the following outstanding interest rate swap that was used to hedge its variable rate debt that was designated ($ in thousands): | |||||||||||||||||||||||
Derivative Type | Notional | Variable Rate | Fixed Rate | Effective Date | Maturity | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
Interest rate swap | $ | 27,456 | LIBOR + 2.00% | 3.47% | Oct-12 | Nov-19 | ||||||||||||||||||
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||
Schedule of cumulative redeemable preferred stock outstanding by series | Preferred Stock—The Company had the following series of Cumulative Redeemable and Convertible Perpetual Preferred Stock outstanding as of December 31, 2014 and 2013: | ||||||||||||||||||
Cumulative Preferential Cash | |||||||||||||||||||
Dividends(1)(2) | |||||||||||||||||||
Series | Shares Issued and | Par Value | Liquidation Preference | Rate per Annum | Equivalent to | ||||||||||||||
Outstanding | Fixed Annual | ||||||||||||||||||
(in thousands) | Rate (per share) | ||||||||||||||||||
D | 4,000 | $ | 0.001 | $ | 25 | 8 | % | $ | 2 | ||||||||||
E | 5,600 | 0.001 | 25 | 7.875 | % | 1.97 | |||||||||||||
F | 4,000 | 0.001 | 25 | 7.8 | % | 1.95 | |||||||||||||
G | 3,200 | 0.001 | 25 | 7.65 | % | 1.91 | |||||||||||||
I | 5,000 | 0.001 | 25 | 7.5 | % | 1.88 | |||||||||||||
J | 4,000 | 0.001 | 50 | 4.5 | % | 2.25 | |||||||||||||
25,800 | |||||||||||||||||||
Explanatory Notes: | |||||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||||
-1 | Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date. | ||||||||||||||||||
-2 | The Company declared and paid dividends of $8.0 million, $11.0 million, $7.8 million, $6.1 million and $9.4 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the years ended December 31, 2014 and 2013. The Company declared and paid dividends of $9.0 million and $6.7 million on its Series J Convertible Perpetual Preferred Stock during the years ended December 31, 2014 and 2013, respectively. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding. | ||||||||||||||||||
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity | Accumulated Other Comprehensive Income (Loss)—"Accumulated other comprehensive income (loss)" reflected in the Company's shareholders' equity is comprised of the following ($ in thousands): | ||||||||||||||||||
As of December 31, | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Unrealized gains (losses) on available-for-sale securities | $ | 2,983 | $ | (294 | ) | ||||||||||||||
Unrealized gains (losses) on cash flow hedges | (409 | ) | 662 | ||||||||||||||||
Unrealized losses on cumulative translation adjustment | (3,545 | ) | (4,644 | ) | |||||||||||||||
Accumulated other comprehensive income (loss) | $ | (971 | ) | $ | (4,276 | ) |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans and Employee Benefits Tables (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Schedule of changes in non-vested restricted stock units | Changes in non-vested restricted stock units, or Units, during the year ended December 31, 2014 were as follows ($ in thousands, except per share amounts): | |||||||||||
Number | Weighted Average | Aggregate | ||||||||||
of Shares | Grant Date | Intrinsic | ||||||||||
Fair Value | Value | |||||||||||
Per Share | ||||||||||||
Non-vested at December 31, 2013 | 2,779 | $ | 5.85 | $ | 39,659 | |||||||
Granted | 306 | $ | 15.31 | |||||||||
Vested | (2,757 | ) | $ | 6.09 | ||||||||
Forfeited | (8 | ) | $ | 15.69 | ||||||||
Non-vested at December 31, 2014 | 320 | $ | 12.57 | $ | 4,367 | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations | The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted earnings per share calculations ($ in thousands, except for per share data): | |||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income (loss) from continuing operations | $ | (74,178 | ) | $ | (220,768 | ) | $ | (314,678 | ) | |||
Net (income) loss attributable to noncontrolling interests | 704 | (718 | ) | 1,500 | ||||||||
Income from sales of real estate | 89,943 | 86,658 | 63,472 | |||||||||
Preferred dividends | (51,320 | ) | (49,020 | ) | (42,320 | ) | ||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders | $ | (34,851 | ) | $ | (183,848 | ) | $ | (292,026 | ) | |||
Schedule of earnings per share allocable to common shares and HPU shares | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings allocable to common shares: | ||||||||||||
Numerator for basic and diluted earnings per share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,722 | ) | $ | (177,907 | ) | $ | (282,452 | ) | |||
Income (loss) from discontinued operations | — | 623 | (16,908 | ) | ||||||||
Gain from discontinued operations | — | 21,515 | 26,363 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,722 | ) | $ | (155,769 | ) | $ | (272,997 | ) | |||
Denominator for basic and diluted earnings per share: | ||||||||||||
Weighted average common shares outstanding for basic and diluted earnings per common share | 85,031 | 84,990 | 83,742 | |||||||||
Basic and diluted earnings per common share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) | $ | (2.09 | ) | $ | (3.37 | ) | |||
Income (loss) from discontinued operations | — | 0.01 | (0.20 | ) | ||||||||
Gain from discontinued operations | — | 0.25 | 0.31 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) | $ | (1.83 | ) | $ | (3.26 | ) | |||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings allocable to High Performance Units: | ||||||||||||
Numerator for basic and diluted earnings per HPU share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,129 | ) | $ | (5,941 | ) | $ | (9,574 | ) | |||
Income (loss) from discontinued operations | — | 21 | (573 | ) | ||||||||
Gain from discontinued operations | — | 718 | 894 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,129 | ) | $ | (5,202 | ) | $ | (9,253 | ) | |||
Denominator for basic and diluted earnings per HPU share: | ||||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | |||||||||
Basic and diluted earnings per HPU share: | ||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (75.27 | ) | $ | (396.07 | ) | $ | (638.27 | ) | |||
Income (loss) from discontinued operations | — | 1.4 | (38.20 | ) | ||||||||
Gain from discontinued operations | — | 47.87 | 59.6 | |||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (75.27 | ) | $ | (346.80 | ) | $ | (616.87 | ) | |||
Schedule of anti-dilutive shares | For the years ended December 31, 2014, 2013 and 2012, the following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands): | |||||||||||
For the Years Ended December 31, | ||||||||||||
2014(1) | 2013(1) | 2012(1) | ||||||||||
Joint venture shares | 298 | 298 | 298 | |||||||||
3.00% convertible senior unsecured notes | 16,992 | 16,992 | — | |||||||||
Series J convertible perpetual preferred stock | 15,635 | 15,635 | — | |||||||||
1.50% convertible senior unsecured notes | 11,567 | 11,567 | — | |||||||||
Explanatory Note: | ||||||||||||
_______________________________________________________________________________ | ||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, the effect of the Company's unvested Units, performance-based Units and CSEs were anti-dilutive. |
Fair_Values_Tables
Fair Values (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels | The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands): | |||||||||||||||
Fair Value Using | ||||||||||||||||
Total | Quoted market | Significant other | Significant | |||||||||||||
prices in | observable | unobservable | ||||||||||||||
active markets | inputs | inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
As of December 31, 2014 | ||||||||||||||||
Recurring basis: | ||||||||||||||||
Derivative assets | $ | 6,361 | $ | — | $ | 6,361 | $ | — | ||||||||
Derivative liabilities | 478 | — | 478 | — | ||||||||||||
Available-for-sale securities | 7,906 | 7,906 | — | — | ||||||||||||
Non-recurring basis: | ||||||||||||||||
Impaired loans(1) | 37,169 | — | — | 37,169 | ||||||||||||
Impaired real estate(2) | 7,102 | — | — | 7,102 | ||||||||||||
As of December 31, 2013 | ||||||||||||||||
Recurring basis: | ||||||||||||||||
Derivative assets | $ | 11,175 | $ | — | $ | 11,175 | $ | — | ||||||||
Derivative liabilities | 1,653 | — | 1,653 | — | ||||||||||||
Available-for-sale securities | 505 | 505 | — | — | ||||||||||||
Non-recurring basis: | ||||||||||||||||
Impaired loans | 115,423 | — | — | 115,423 | ||||||||||||
Impaired real estate | 35,680 | — | 5,744 | 29,936 | ||||||||||||
Explanatory Notes: | ||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||
-1 | The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.50 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner. | |||||||||||||||
-2 | The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Schedule of financial measures for each segment based on which performance is evaluated | The Company evaluates performance based on the following financial measures for each segment. The Company's segment information is as follows ($ in thousands): | |||||||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
Year Ended December 31, 2014: | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 151,934 | $ | 90,331 | $ | 835 | $ | — | $ | 243,100 | ||||||||||||
Interest income | 122,704 | — | — | — | — | 122,704 | ||||||||||||||||||
Other income | 21,217 | 4,437 | 42,000 | 3,327 | 10,052 | 81,033 | ||||||||||||||||||
Land sales revenue | — | — | — | 15,191 | — | 15,191 | ||||||||||||||||||
Total revenue | 143,921 | 156,371 | 132,331 | 19,353 | 10,052 | 462,028 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 3,260 | 1,669 | 14,966 | 75,010 | 94,905 | ||||||||||||||||||
Income from sales of real estate | — | 6,206 | 83,737 | — | — | 89,943 | ||||||||||||||||||
Revenue and other earnings | 143,921 | 165,837 | 217,737 | 34,319 | 85,062 | 646,876 | ||||||||||||||||||
Real estate expense | — | (22,967 | ) | (113,504 | ) | (26,918 | ) | — | (163,389 | ) | ||||||||||||||
Land cost of sales | — | — | — | (12,840 | ) | — | (12,840 | ) | ||||||||||||||||
Other expense | (243 | ) | — | — | — | (5,578 | ) | (5,821 | ) | |||||||||||||||
Allocated interest expense | (58,043 | ) | (72,089 | ) | (39,535 | ) | (29,432 | ) | (25,384 | ) | (224,483 | ) | ||||||||||||
Allocated general and administrative(2) | (13,314 | ) | (16,736 | ) | (9,684 | ) | (13,170 | ) | (22,588 | ) | (75,492 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 72,321 | $ | 54,045 | $ | 55,014 | $ | (48,041 | ) | $ | 31,512 | $ | 164,851 | |||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | (1,714 | ) | $ | — | $ | — | $ | — | $ | — | $ | (1,714 | ) | ||||||||||
Impairment of assets | — | 3,689 | 8,131 | 22,814 | — | 34,634 | ||||||||||||||||||
Depreciation and amortization | — | 38,841 | 32,142 | 1,440 | 1,148 | 73,571 | ||||||||||||||||||
Capitalized expenditures | — | 3,933 | 61,186 | 80,119 | — | 145,238 | ||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 147,313 | $ | 86,352 | $ | 902 | $ | — | $ | 234,567 | ||||||||||||
Interest income | 108,015 | — | — | — | — | 108,015 | ||||||||||||||||||
Other income | 4,748 | 250 | 38,164 | 1,474 | 3,572 | 48,208 | ||||||||||||||||||
Total revenue | 112,763 | 147,563 | 124,516 | 2,376 | 3,572 | 390,790 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 2,699 | 5,546 | (5,331 | ) | 38,606 | 41,520 | |||||||||||||||||
Income from sales of real estate | — | — | 82,603 | 4,055 | — | 86,658 | ||||||||||||||||||
Income (loss) from discontinued operations(4) | — | 1,484 | 1,251 | — | — | 2,735 | ||||||||||||||||||
Gain from discontinued operations | — | 3,395 | 18,838 | — | — | 22,233 | ||||||||||||||||||
Revenue and other earnings | 112,763 | 155,141 | 232,754 | 1,100 | 42,178 | 543,936 | ||||||||||||||||||
Real estate expense | — | (22,565 | ) | (101,044 | ) | (33,832 | ) | — | (157,441 | ) | ||||||||||||||
Other expense | (1,625 | ) | — | — | — | (6,425 | ) | (8,050 | ) | |||||||||||||||
Allocated interest expense(5) | (74,377 | ) | (80,034 | ) | (49,114 | ) | (30,368 | ) | (32,332 | ) | (266,225 | ) | ||||||||||||
Allocated general and administrative(2) | (13,186 | ) | (14,330 | ) | (9,189 | ) | (12,365 | ) | (23,783 | ) | (72,853 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 23,575 | $ | 38,212 | $ | 73,407 | $ | (75,465 | ) | $ | (20,362 | ) | $ | 39,367 | ||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | 5,489 | $ | — | $ | — | $ | — | $ | — | $ | 5,489 | ||||||||||||
Impairment of assets(5) | — | 1,176 | 12,449 | 728 | — | 14,353 | ||||||||||||||||||
Loss on transfer of interest to unconsolidated subsidiary | — | — | — | 7,373 | — | 7,373 | ||||||||||||||||||
Depreciation and amortization(5) | — | 38,582 | 30,599 | 1,105 | 1,244 | 71,530 | ||||||||||||||||||
Capitalized expenditures | — | 34,076 | 41,131 | 36,346 | — | 111,553 | ||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
Operating lease income | $ | — | $ | 149,058 | $ | 65,706 | $ | 1,527 | $ | — | $ | 216,291 | ||||||||||||
Interest income | 133,410 | — | — | — | — | 133,410 | ||||||||||||||||||
Other income | 8,613 | — | 32,615 | 2,635 | 3,975 | 47,838 | ||||||||||||||||||
Total revenue | 142,023 | 149,058 | 98,321 | 4,162 | 3,975 | 397,539 | ||||||||||||||||||
Earnings (loss) from equity method investments | — | 2,632 | 25,142 | (6,138 | ) | 81,373 | 103,009 | |||||||||||||||||
Income from sales of real estate | — | — | 63,472 | — | — | 63,472 | ||||||||||||||||||
Income (loss) from discontinued operations(4) | — | 7,289 | 886 | — | — | 8,175 | ||||||||||||||||||
Gain from discontinued operations | — | 27,257 | — | — | — | 27,257 | ||||||||||||||||||
Revenue and other earnings | 142,023 | 186,236 | 187,821 | (1,976 | ) | 85,348 | 599,452 | |||||||||||||||||
Real estate expense | — | (23,886 | ) | (100,258 | ) | (27,314 | ) | — | (151,458 | ) | ||||||||||||||
Other expense | (4,775 | ) | — | — | — | (12,491 | ) | (17,266 | ) | |||||||||||||||
Allocated interest expense(5) | (111,898 | ) | (92,579 | ) | (69,259 | ) | (44,125 | ) | (38,300 | ) | (356,161 | ) | ||||||||||||
Allocated general and administrative(2) | (14,263 | ) | (10,618 | ) | (7,572 | ) | (7,405 | ) | (25,705 | ) | (65,563 | ) | ||||||||||||
Segment profit (loss)(3) | $ | 11,087 | $ | 59,153 | $ | 10,732 | $ | (80,820 | ) | $ | 8,852 | $ | 9,004 | |||||||||||
Other significant non-cash items: | ||||||||||||||||||||||||
Provision for (recovery of) loan losses | $ | 81,740 | $ | — | $ | — | $ | — | $ | — | $ | 81,740 | ||||||||||||
Impairment of assets(5) | — | 6,670 | 28,501 | 205 | 978 | 36,354 | ||||||||||||||||||
Depreciation and amortization(5) | — | 39,250 | 28,450 | 1,276 | 1,810 | 70,786 | ||||||||||||||||||
Capitalized expenditures | — | 10,994 | 51,579 | 20,497 | — | 83,070 | ||||||||||||||||||
Real Estate Finance | Net Lease | Operating Properties | Land | Corporate/Other(1) | Company Total | |||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
Real estate, net | — | 1,188,160 | 628,271 | 860,283 | — | 2,676,714 | ||||||||||||||||||
Real estate available and held for sale | — | 4,521 | 162,782 | 118,679 | — | 285,982 | ||||||||||||||||||
Total real estate | — | 1,192,681 | 791,053 | 978,962 | — | 2,962,696 | ||||||||||||||||||
Loans receivable and other lending investments, net | 1,377,843 | — | — | — | — | 1,377,843 | ||||||||||||||||||
Other investments | — | 125,360 | 13,220 | 106,155 | 109,384 | 354,119 | ||||||||||||||||||
Total portfolio assets | $ | 1,377,843 | $ | 1,318,041 | $ | 804,273 | $ | 1,085,117 | $ | 109,384 | 4,694,658 | |||||||||||||
Cash and other assets | 768,475 | |||||||||||||||||||||||
Total assets | $ | 5,463,133 | ||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
Real estate, net | — | 1,358,248 | 638,088 | 799,845 | — | 2,796,181 | ||||||||||||||||||
Real estate available and held for sale | — | — | 228,328 | 132,189 | — | 360,517 | ||||||||||||||||||
Total real estate | — | 1,358,248 | 866,416 | 932,034 | — | 3,156,698 | ||||||||||||||||||
Loans receivable and other lending investments, net | 1,370,109 | — | — | — | — | 1,370,109 | ||||||||||||||||||
Other investments | — | 16,408 | 16,032 | 29,765 | 145,004 | 207,209 | ||||||||||||||||||
Total portfolio assets | $ | 1,370,109 | $ | 1,374,656 | $ | 882,448 | $ | 961,799 | $ | 145,004 | 4,734,016 | |||||||||||||
Cash and other assets | 907,995 | |||||||||||||||||||||||
Total assets | $ | 5,642,011 | ||||||||||||||||||||||
Explanatory Notes: | ||||||||||||||||||||||||
_______________________________________________________________________________ | ||||||||||||||||||||||||
-1 | Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not included in the other reportable segments above. | |||||||||||||||||||||||
-2 | General and administrative excludes stock-based compensation expense of $13.3 million, $19.3 million and $15.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||
Reconciliation of segment profit (loss) to income (loss) from continuing operations | The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Segment profit (loss) | $ | 164,851 | $ | 39,367 | $ | 9,004 | ||||||||||||||||||
Less: (Provision for) recovery of loan losses | 1,714 | (5,489 | ) | (81,740 | ) | |||||||||||||||||||
Less: Impairment of assets(4) | (34,634 | ) | (14,353 | ) | (36,354 | ) | ||||||||||||||||||
Less: Loss on transfer of interest to unconsolidated subsidiary | — | (7,373 | ) | — | ||||||||||||||||||||
Less: Stock-based compensation expense | (13,314 | ) | (19,261 | ) | (15,293 | ) | ||||||||||||||||||
Less: Depreciation and amortization(4) | (73,571 | ) | (71,530 | ) | (70,786 | ) | ||||||||||||||||||
Less: Income tax (expense) benefit(4) | (3,912 | ) | 596 | (8,445 | ) | |||||||||||||||||||
Less: Loss on early extinguishment of debt, net | (25,369 | ) | (33,190 | ) | (37,816 | ) | ||||||||||||||||||
Net income (loss) | $ | 15,765 | $ | (111,233 | ) | $ | (241,430 | ) | ||||||||||||||||
-4 | For the years ended December 31, 2013 and 2012, excludes certain amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. | |||||||||||||||||||||||
-5 | For the years ended December 31, 2013 and 2012, includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. |
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information | The following table sets forth the selected quarterly financial data for the Company ($ in thousands, except per share amounts). | ||||||||||||||||
For the Quarters Ended | |||||||||||||||||
December 31, | September 30, | June 30, | March 31, | ||||||||||||||
2014:00:00 | |||||||||||||||||
Revenue | $ | 109,950 | $ | 113,486 | $ | 129,843 | $ | 108,749 | |||||||||
Net income (loss) | $ | (1,955 | ) | $ | 35,491 | $ | (3,594 | ) | $ | (14,177 | ) | ||||||
Earnings per common share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | |||||||||||||||||
Basic(1) | $ | (13,270 | ) | $ | 22,327 | $ | (16,207 | ) | $ | (26,572 | ) | ||||||
Diluted(1) | $ | (13,270 | ) | $ | 27,608 | $ | (16,207 | ) | $ | (26,572 | ) | ||||||
Earnings per share | |||||||||||||||||
Basic | $ | (0.16 | ) | $ | 0.26 | $ | (0.19 | ) | $ | (0.31 | ) | ||||||
Diluted | $ | (0.16 | ) | $ | 0.21 | $ | (0.19 | ) | $ | (0.31 | ) | ||||||
Weighted average number of common shares | |||||||||||||||||
Basic | 85,188 | 85,163 | 84,916 | 84,819 | |||||||||||||
Diluted | 85,188 | 130,160 | 84,916 | 84,819 | |||||||||||||
Earnings per HPU share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | |||||||||||||||||
Basic | $ | (442 | ) | $ | 744 | $ | (542 | ) | $ | (889 | ) | ||||||
Diluted | $ | (442 | ) | $ | 602 | $ | (542 | ) | $ | (889 | ) | ||||||
Earnings per share | |||||||||||||||||
Basic | $ | (29.47 | ) | $ | 49.6 | $ | (36.13 | ) | $ | (59.27 | ) | ||||||
Diluted | $ | (29.47 | ) | $ | 40.13 | $ | (36.13 | ) | $ | (59.27 | ) | ||||||
Weighted average number of HPU shares—basic and diluted | 15 | 15 | 15 | 15 | |||||||||||||
For the Quarters Ended | |||||||||||||||||
December 31, | September 30, | June 30, | March 31, | ||||||||||||||
2013:00:00 | |||||||||||||||||
Revenue | $ | 101,073 | $ | 95,696 | $ | 99,919 | $ | 94,102 | |||||||||
Net income (loss) | $ | (45,992 | ) | $ | (18,590 | ) | $ | (14,398 | ) | $ | (32,253 | ) | |||||
Earnings per common share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | $ | (57,934 | ) | $ | (30,571 | ) | $ | (26,001 | ) | $ | (41,263 | ) | |||||
Basic and diluted earnings per share | $ | (0.68 | ) | $ | (0.36 | ) | $ | (0.31 | ) | $ | (0.49 | ) | |||||
Weighted average number of common shares—basic and diluted | 84,617 | 85,392 | 85,125 | 84,824 | |||||||||||||
Earnings per HPU share data: | |||||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | $ | (1,939 | ) | $ | (1,016 | ) | $ | (866 | ) | $ | (1,381 | ) | |||||
Basic and diluted earnings per share | $ | (129.26 | ) | $ | (67.73 | ) | $ | (57.74 | ) | $ | (92.07 | ) | |||||
Weighted average number of HPU shares—basic and diluted | 15 | 15 | 15 | 15 | |||||||||||||
Explanatory Note: | |||||||||||||||||
_______________________________________________________________________________ | |||||||||||||||||
-1 | For the quarter ended September 30, 2014, includes net income attributable to iStar Financial Inc. and allocable to Participating Security Holders of $2 and $2 on a basic and dilutive basis, respectively. |
Business_and_Organization_Deta
Business and Organization (Details) (USD $) | 12 Months Ended |
In Billions, unless otherwise specified | Dec. 31, 2014 |
Business and Organization [Abstract] | |
Investment across a range of real estate sectors over the past two decades (more than $35 billion at December 31, 2012) | $35 |
Basis_of_Presentation_and_Prin2
Basis of Presentation and Principles of Consolidation (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | entity |
Consolidated VIEs | |
Total revenues and total expenses related to consolidated VIEs | |
Number of variable interest entities (in investments) | 4 |
Variable interest entity, consolidated, carrying amount, assets | $156.30 |
Variable interest entity, consolidated, carrying amount, liabilities | 10.3 |
Variable interest entity unfunded commitment | 38.8 |
Unconsolidated VIEs | |
Total revenues and total expenses related to consolidated VIEs | |
Number of variable interest entities (in investments) | 26 |
Variable interest entity unfunded commitment | 20.5 |
Carrying value of the investments | $177.30 |
Basis_of_Presentation_and_Prin3
Basis of Presentation and Principles of Consolidation Reclassification (Details) (USD $) | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Jun. 30, 2014 | Sep. 30, 2014 |
Net Cash Provided by (Used in) Operating Activities | ($10,342) | ($180,465) | ($191,932) | |||
Net Cash Provided by (Used in) Investing Activities | 159,793 | 893,447 | 1,267,047 | |||
Scenario, Previously Reported [Member] | ||||||
Net Cash Provided by (Used in) Operating Activities | -60,678 | -83,477 | 1,570 | |||
Net Cash Provided by (Used in) Investing Activities | 31,318 | 58,691 | 295,785 | |||
Scenario, Adjustment [Member] | ||||||
Net Cash Provided by (Used in) Operating Activities | -4,143 | -8,630 | -11,920 | |||
Net Cash Provided by (Used in) Investing Activities | 4,143 | 8,630 | 11,920 | |||
Scenario, Actual [Member] | ||||||
Net Cash Provided by (Used in) Operating Activities | -64,821 | -92,107 | -10,350 | |||
Net Cash Provided by (Used in) Investing Activities | $35,461 | $67,321 | $307,705 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Building [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 40 years |
Furniture and Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Real Estate Tenant Receivables | ||
Financing Receivable, Impaired [Line Items] | ||
Allowance for doubtful accounts receivable | $1.30 | $3.40 |
Deferred Operating Lease | ||
Financing Receivable, Impaired [Line Items] | ||
Allowance for doubtful accounts receivable | $2.40 | $2.40 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Income Taxes) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Total income tax (expense) benefit | ($3,912,000) | $659,000 | ($8,445,000) | ||
Assets With Foreclosure Elections Carrying Value | 909,300,000 | ||||
Operating loss carryforwards | 759,800,000 | ||||
Taxable REIT Subsidiaries [Member] | |||||
Real Estate Asset Basis Differences | 39,300,000 | 33,000,000 | |||
Current tax (expense) benefit | -3,912,000 | 659,000 | -8,445,000 | ||
Deferred tax (expense) benefit | 0 | 0 | 0 | ||
Combined Taxable Income of Taxable Reit Subsidiaries | 19,300,000 | -1,800,000 | 42,200,000 | ||
Operating loss carryforwards | 4,100,000 | 14,900,000 | |||
Assets Owned By Taxable Real Estate Investment Trust Subsidiaries | 541,700,000 | ||||
Income Taxes Paid | 1,300,000 | 9,200,000 | 5,500,000 | ||
Deferred tax assets | 54,318,000 | [1] | 55,962,000 | [1] | |
Valuation allowance | -54,318,000 | -55,962,000 | |||
Net deferred tax assets (liabilities) | 0 | 0 | |||
Investment Basis Differences | $5,900,000 | $8,100,000 | |||
[1] | Deferred tax assets as of December 31, 2014 include timing differences related primarily to real estate basis of $39.3 million, investment basis of $5.9 million and net operating loss carryforwards of $4.1 million. Deferred tax assets as of December 31, 2013, include timing differences related to real estate basis of $33.0 million, investment basis of $8.1 million, and net operating loss carryforwards of $14.9 million. |
Real_Estate_Schedule_of_Real_E
Real Estate (Schedule of Real Estate Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Real Estate Properties [Line Items] | ||
Land and Land Improvements | $1,326,957 | $1,286,989 |
Buildings and improvements | 1,818,606 | 1,933,645 |
Less: accumulated depreciation and amortization | -468,849 | -424,453 |
Real estate, net | 2,676,714 | 2,796,181 |
Real estate available and held for sale | 285,982 | 360,517 |
Total real estate | 2,962,696 | 3,156,698 |
Net Lease | ||
Real Estate Properties [Line Items] | ||
Land and Land Improvements | 311,890 | 350,817 |
Buildings and improvements | 1,240,593 | 1,346,071 |
Less: accumulated depreciation and amortization | -364,323 | -338,640 |
Real estate, net | 1,188,160 | 1,358,248 |
Real estate available and held for sale | 4,521 | 0 |
Total real estate | 1,192,681 | 1,358,248 |
Operating Properties | ||
Real Estate Properties [Line Items] | ||
Land and Land Improvements | 146,417 | 132,934 |
Buildings and improvements | 578,013 | 587,574 |
Less: accumulated depreciation and amortization | -96,159 | -82,420 |
Real estate, net | 628,271 | 638,088 |
Real estate available and held for sale | 162,782 | 228,328 |
Total real estate | 791,053 | 866,416 |
Land | ||
Real Estate Properties [Line Items] | ||
Land and Land Improvements | 868,650 | 803,238 |
Buildings and improvements | 0 | 0 |
Less: accumulated depreciation and amortization | -8,367 | -3,393 |
Real estate, net | 860,283 | 799,845 |
Real estate available and held for sale | 118,679 | 132,189 |
Total real estate | $978,962 | $932,034 |
Real_Estate_Real_Estate_Availa
Real Estate (Real Estate Available and Held for Sale) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Real Estate Properties [Line Items] | |||
Impairment of assets | $34,634,000 | $12,589,000 | $13,778,000 |
Impairment of Real Estate | 34,600,000 | 14,400,000 | 35,400,000 |
Real estate available and held for sale | 285,982,000 | 360,517,000 | |
Residential Operating Properties | |||
Real Estate Properties [Line Items] | |||
Real estate available and held for sale | 155,800,000 | 221,000,000 | |
Land | |||
Real Estate Properties [Line Items] | |||
Real estate available and held for sale | 118,679,000 | 132,189,000 | |
Property transferred from HFS, aggregate, carrying value | 6,500,000 | 49,700,000 | |
Property transferred to held for sale, aggregate, carrying value | 31,800,000 | ||
Number of properties transferred from held for sale to held for use | 2 | ||
Number of real estate properties transferred to held for sale | 3 | ||
Number of real estate properties sold | 3 | ||
Income from sales of real estate | 600,000 | ||
Condominium Units | |||
Real Estate Properties [Line Items] | |||
Property transferred to held for sale, aggregate, carrying value | 56,700,000 | ||
Income from sales of real estate | 79,100,000 | 82,600,000 | 63,500,000 |
Net Lease | |||
Real Estate Properties [Line Items] | |||
Real estate available and held for sale | 4,521,000 | 0 | |
Property transferred to held for sale, aggregate, carrying value | 4,000,000 | 9,800,000 | |
Gain (Loss) on disposition of real estate, discontinued operations | $3,600,000 | ||
Number of real estate properties sold | 5 |
Real_Estate_Acquisitions_Detai
Real Estate (Acquisitions) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Real Estate Properties [Line Items] | ||||||
Acquisitions of real estate assets | $4,666,000 | [1] | $102,364,000 | [2],[3] | $9,750,000 | [4] |
Payments for repurchase of redeemable noncontrolling interest | 8,800,000 | |||||
Corporate Joint Venture | ||||||
Real Estate Properties [Line Items] | ||||||
Fair Value of assets acquired | 27,300,000 | |||||
Real Estate Acquired in Satisfaction of Debt | Corporate Joint Venture | ||||||
Real Estate Properties [Line Items] | ||||||
Consolidated Entity, Ownership Percentage | 63.00% | |||||
Noncontrolling Interest, ownership percentage by noncontrolling owners | 37.00% | |||||
Fair Value of assets acquired | 25,500,000 | |||||
Commercial Operating Properties | Real Estate Acquired in Satisfaction of Debt | ||||||
Real Estate Properties [Line Items] | ||||||
Number of properties acquired | 3 | |||||
Fair Value of assets acquired | 77,900,000 | |||||
Condominium Units | ||||||
Real Estate Properties [Line Items] | ||||||
Acquisitions of real estate assets | 3,000,000 | |||||
Number of properties acquired | 2 | |||||
Land | ||||||
Real Estate Properties [Line Items] | ||||||
Acquisitions of real estate assets | 1,700,000 | |||||
Number of properties acquired | 1 | |||||
Land | Real Estate Acquired in Satisfaction of Debt | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Real Estate Properties Acquired | 2 | |||||
Fair Value of assets acquired | 15,600,000 | |||||
Net Lease Asset One | ||||||
Real Estate Properties [Line Items] | ||||||
Acquisitions of real estate assets | 93,600,000 | |||||
Finite-lived Intangible Assets Acquired | 36,100,000 | |||||
Below Market Lease, Acquired | 11,900,000 | |||||
Asset Acquisition, Transaction Costs | 200,000 | |||||
Net proceeds from sales of real estate | 7,800,000 | |||||
Commercial Operating Properties | ||||||
Real Estate Properties [Line Items] | ||||||
Acquisitions of real estate assets | 9,800,000 | |||||
Parking Spaces [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Number of properties acquired | 900 | |||||
iStar Net Lease I LLC [Member] | Net Lease Asset One | ||||||
Real Estate Properties [Line Items] | ||||||
Net proceeds from sales of real estate | $93,700,000 | |||||
[1] | During the year ended December 31, 2014, the Company purchased two condominium units for $3.0 million and one land parcel for $1.7 million. | |||||
[2] | During the year ended December 31, 2013, the Company paid $8.8 million to redeem a noncontrolling member's interest. | |||||
[3] | During the year ended December 31, 2013, the Company acquired a net lease asset for a purchase price of $93.6 million, including intangible assets of $36.1 million, intangible liabilities of $11.9 million and acquisition-related costs of $0.2 million, which was leased back to the seller. The Company concluded that the transaction was a real estate asset acquisition and capitalized the acquisition-related costs. The intangible assets were included in "Deferred expenses and other assets, net" and the intangible liabilities were included in "Accounts payable, accrued expenses and other liabilities" on the Company's Consolidated Balance Sheets. The lease was classified as an operating lease. During the year ended December 31, 2014, the net lease asset was sold to its Net Lease Venture for net proceeds of $93.7 million, which approximated carrying value. | |||||
[4] | During the year ended December 31, 2012, the Company acquired approximately 900 parking spaces adjacent to an owned property for $9.8 million. |
Real_Estate_Pro_Forma_Financia
Real Estate (Pro Forma Financial Information) (Details) (USD $) | 8 Months Ended | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Real Estate [Abstract] | |||
Pro forma total revenues | $466,327,000 | $399,885,000 | |
Pro forma net income (loss) | -245,000 | -112,355,000 | |
Business combination, pro forma information, revenue of acquiree since acquisition date, actual | 8,300,000 | ||
Business combination, pro forma information, earnings or loss of acquiree since acquisition date, actual | ($2,900,000) |
Real_Estate_Dispositions_Detai
Real Estate (Dispositions) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Land Sales | $15,191,000 | $0 | $0 |
Costs of Land Sales | 12,840,000 | 0 | 0 |
Property sold, aggregate, carrying value | 6,800,000 | ||
Income from sales of real estate | 89,943,000 | 86,658,000 | 63,472,000 |
Impairment of long-lived assets to be disposed of or sold | 1,800,000 | 22,600,000 | |
Loss on transfer of interest to unconsolidated subsidiary | 0 | 7,373,000 | 0 |
Net Lease Asset Two | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property sold, aggregate, carrying value | 8,000,000 | ||
Income from sales of real estate | 5,700,000 | ||
Net Lease | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | 5 | ||
Property sold, aggregate, carrying value | 18,700,000 | ||
Income from sales of real estate | 2,200,000 | ||
Impairment of long-lived assets to be disposed of or sold | 3,600,000 | ||
Commercial Operating Properties | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | 6 | ||
Property sold, aggregate, carrying value | 29,400,000 | 72,600,000 | |
Income from sales of real estate | 4,600,000 | 18,600,000 | |
Net Lease Asset One | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sales of real estate | 7,800,000 | ||
Impairment of long-lived assets to be disposed of or sold | 3,000,000 | ||
Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Income from sales of real estate | 600,000 | ||
Number of real estate properties sold | 3 | ||
Property sold, aggregate, carrying value | 14,800,000 | ||
Income from sales of real estate | 600,000 | ||
Condominium Units | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from sale of other real estate | 236,200,000 | 269,700,000 | 319,300,000 |
Income from sales of real estate | 79,100,000 | 82,600,000 | 63,500,000 |
iStar Net Lease I LLC [Member] | Net Lease | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sales of real estate | 10,100,000 | ||
Noncontrolling interest, ownership percentage by parent | 72.00% | ||
Transfer mortgage payable | 26,000,000 | ||
iStar's ownership percentage | 51.90% | ||
iStar Net Lease I LLC [Member] | Net Lease Asset One | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net proceeds from sales of real estate | 93,700,000 | ||
Real Estate Equity Investment Three | Net Lease | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
iStar's ownership percentage | 50.00% | ||
Real Estate Equity Investment Three | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property Contributed, Aggregate, Carrying Value | 9,500,000 | ||
Real Estate Equity Investment One | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property Contributed, Aggregate, Carrying Value | 24,100,000 | ||
Loss on transfer of interest to unconsolidated subsidiary | 7,400,000 | ||
Real Estate Equity Investment Two | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property Contributed, Aggregate, Carrying Value | 2,800,000 | ||
iStar's ownership percentage | 85.70% | 50.00% | |
Marina Palms, LLC [Member] | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Income from sales of real estate | 3,400,000 | ||
Proceeds from partial sale of real estate | 21,400,000 | ||
iStar's ownership percentage | 47.50% | ||
Land | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property sold, aggregate, carrying value | 18,900,000 | ||
Master Planned Community [Member] | Residential Real Estate | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of real estate properties sold | 3 | ||
Portfolio Lease Asset Sale [Member] | Net Lease | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Property sold, aggregate, carrying value | $8,700,000 |
Real_Estate_Discontinued_Opera
Real Estate (Discontinued Operations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate [Abstract] | |||
Revenues | $5,545 | $14,132 | |
Total expenses | -3,138 | -9,037 | |
Impairment of assets | -1,763 | -22,576 | |
Income (loss) from discontinued operations | $0 | $644 | ($17,481) |
Real_Estate_Impairments_Detail
Real Estate (Impairments) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | |||
Impairment of assets | $34,634,000 | $12,589,000 | $13,778,000 |
Impairment of Real Estate | 34,600,000 | 14,400,000 | 35,400,000 |
Impairment of long-lived assets to be disposed of or sold | 1,800,000 | 22,600,000 | |
Net Lease | |||
Property, Plant and Equipment [Line Items] | |||
Impairment of long-lived assets to be disposed of or sold | 3,600,000 | ||
Land and Residential Properties [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Impairment of Real Estate | 15,600,000 | ||
Real Estate Properties [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Impairment of Real Estate | $15,400,000 | ||
Number of Properties Impaired | 2 |
Real_Estate_Tenant_Reimburseme
Real Estate (Tenant Reimbursements) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate [Abstract] | |||
Tenant reimbursements | $30 | $31.80 | $30.90 |
Real_Estate_Future_Minimum_Ope
Real Estate (Future Minimum Operating Lease Payments (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Net Lease | |
2015 | $126,316 |
2016 | 125,653 |
2017 | 120,918 |
2018 | 118,384 |
2019 | 116,348 |
Operating Properties | |
2015 | 52,823 |
2016 | 51,437 |
2017 | 49,592 |
2018 | 44,288 |
2019 | $38,707 |
Loans_Receivable_and_Other_Len2
Loans Receivable and Other Lending Investments, net (Schedule of Loans Receivable) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross carrying value of loans | $1,288,662,000 | $1,605,386,000 | ||||
Reserves for loan losses | -98,490,000 | -377,204,000 | -524,499,000 | -646,624,000 | ||
Total loans receivable, net | 1,190,172,000 | 1,228,182,000 | ||||
Other lending investments—securities | 187,671,000 | 141,927,000 | ||||
Total loans receivable and other lending investments, net | 1,377,843,000 | [1] | 1,370,109,000 | [1] | ||
Interest receivable | 7,000,000 | 6,500,000 | ||||
Carrying value of loans sold | 30,800,000 | 95,100,000 | 53,900,000 | |||
Realized investment gains (losses) | 19,100,000 | -600,000 | 6,400,000 | |||
Senior mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross carrying value of loans | 737,535,000 | 1,071,662,000 | ||||
Subordinate mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross carrying value of loans | 53,331,000 | 60,679,000 | ||||
Corporate/Partnership loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross carrying value of loans | $497,796,000 | $473,045,000 | ||||
[1] | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. |
Loans_Receivable_and_Other_Len3
Loans Receivable and Other Lending Investments, net (Reserve for Loan Losses) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Allowance for Loan Losses [Roll Forward] | ||||||
Reserve for loan losses at beginning of period | $377,204,000 | $524,499,000 | $646,624,000 | |||
Provision for (recovery of) loan losses | -1,714,000 | [1] | 5,489,000 | [1] | 81,740,000 | [1] |
Charge-offs | -277,000,000 | -152,784,000 | -203,865,000 | |||
Reserve for loan losses at end of period | 98,490,000 | 377,204,000 | 524,499,000 | |||
Recoveries of previously recorded loan loss reserves | $10,100,000 | $63,100,000 | $4,600,000 | |||
[1] | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. |
Loans_Receivable_and_Other_Len4
Loans Receivable and Other Lending Investments, net (Schedule of Investment in Loans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Loans | ||||||
Individually Evaluated for Impairment | $139,672,000 | [1] | $752,425,000 | [1] | ||
Collectively Evaluated for Impairment | 1,156,031,000 | [2] | 849,613,000 | [2] | ||
Loans Acquired with Deteriorated Credit Quality | 0 | [3] | 9,889,000 | [3] | ||
Total | 1,295,703,000 | 1,611,927,000 | ||||
Less: Reserve for loan losses | ||||||
Individually Evaluated for Impairment | -64,990,000 | [1] | -348,004,000 | [1] | ||
Collectively Evaluated for Impairment | -33,500,000 | [2] | -29,200,000 | [2] | ||
Loans Acquired with Deteriorated Credit Quality | 0 | [3] | 0 | [3] | ||
Total | -98,490,000 | -377,204,000 | -524,499,000 | -646,624,000 | ||
Total | ||||||
Individually Evaluated for Impairment | 74,682,000 | [1] | 404,421,000 | [1] | ||
Collectively Evaluated for Impairment | 1,122,531,000 | [2] | 820,413,000 | [2] | ||
Loans Acquired with Deteriorated Credit Quality | 0 | [3] | 9,889,000 | [3] | ||
Total | 1,197,213,000 | 1,234,723,000 | ||||
Unamortized discounts (premiums) deferred fees and costs, individually evaluated for impairment, net premium (discount) | -200,000 | 500,000 | ||||
Unamortized discounts (premiums) deferred fees and costs, collectively evaluated for impairment, net premium (discount) | -10,600,000 | -4,600,000 | ||||
Unamortized discounts (premiums) deferred fees and costs, loans acquired with deteriorated credit quality, net premium (discount) | 359,000 | |||||
Cumulative principal balances of loans acquired with deteriorated credit quality | $10,229,000 | |||||
[1] | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $0.2 million and a net premium of $0.5 million as of December 31, 2014 and 2013, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income. | |||||
[2] | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $10.6 million and $4.6 million as of December 31, 2014 and 2013, respectively. | |||||
[3] | The carrying value of the loan includes unamortized discounts, premiums, deferred fees and costs aggregating to a net premium of $0.4 million as of December 31, 2013. The loan had a cumulative principal balance of $10.2 million as of December 31, 2013. The loan was repaid during the year ended December 31, 2014. |
Loans_Receivable_and_Other_Len5
Loans Receivable and Other Lending Investments, net (Credit Characteristics for Performing Loans) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | $1,295,703 | $1,611,927 |
Senior mortgages | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 740,247 | |
Subordinate mortgages | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 53,836 | |
Corporate/Partnership loans | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 501,620 | |
Real Estate Finance | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 1,166,465 | 1,091,340 |
Weighted Average Risk Ratings | 3.23 | 3.11 |
Real Estate Finance | Senior mortgages | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 611,009 | 591,145 |
Weighted Average Risk Ratings | 2.73 | 2.5 |
Real Estate Finance | Subordinate mortgages | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | 53,836 | 61,364 |
Weighted Average Risk Ratings | 2.87 | 3.37 |
Real Estate Finance | Corporate/Partnership loans | ||
Recorded Investments in loans, presented by class and by credit quality, as indicated by risk rating | ||
Performing Loans | $501,620 | $438,831 |
Weighted Average Risk Ratings | 3.88 | 3.88 |
Loans_Receivable_and_Other_Len6
Loans Receivable and Other Lending Investments, net (Credit Characteristics by Payment Status) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | |
loans | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Current | $1,199,646 | ||
Less Than and Equal to 90 Days | 0 | ||
Greater Than 90 Days | 96,057 | [1] | |
Total Past Due | 96,057 | ||
Total | 1,295,703 | 1,611,927 | |
Financing receivable, number of loans greater than 90 days past due | 3 | ||
Financing receivables, past due time period | 90 days | ||
Senior mortgages | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Current | 644,190 | ||
Less Than and Equal to 90 Days | 0 | ||
Greater Than 90 Days | 96,057 | [1] | |
Total Past Due | 96,057 | ||
Total | 740,247 | ||
Subordinate mortgages | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Current | 53,836 | ||
Less Than and Equal to 90 Days | 0 | ||
Greater Than 90 Days | 0 | ||
Total Past Due | 0 | ||
Total | 53,836 | ||
Corporate/Partnership loans | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Current | 501,620 | ||
Less Than and Equal to 90 Days | 0 | ||
Greater Than 90 Days | 0 | ||
Total Past Due | 0 | ||
Total | $501,620 | ||
Minimum | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Financing receivables, past due time period | 5 years | ||
Maximum | |||
Recorded investment in loans, aged by payment status and presented by class | |||
Financing receivables, past due time period | 6 years | ||
[1] | As of December 31, 2014, the Company had three loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 5.0 to 6.0 years outstanding. |
Loans_Receivable_and_Other_Len7
Loans Receivable and Other Lending Investments, net (Impaired Loans) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | $139,672,000 | [1] | $752,425,000 | [1] | |
Unpaid Principal Balance | 138,801,000 | [1] | 747,522,000 | [1] | |
Related Allowance | -64,990,000 | [1] | -348,004,000 | [1] | |
Loans modified through troubled debt restructurings | 10,400,000 | 231,800,000 | |||
Average Recorded Investment | 422,973,000 | 943,761,000 | 1,350,704,000 | ||
Interest Income Recognized | 2,261,000 | 17,618,000 | 7,102,000 | ||
Senior mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 130,645,000 | [1] | 653,349,000 | [1] | |
Unpaid Principal Balance | 129,744,000 | [1] | 648,455,000 | [1] | |
Related Allowance | -64,440,000 | [1] | -304,544,000 | [1] | |
Average Recorded Investment | 370,010,000 | 825,656,000 | 1,226,138,000 | ||
Interest Income Recognized | 2,080,000 | 11,245,000 | 6,630,000 | ||
Subordinate mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 0 | 32,382,000 | 52,208,000 | ||
Interest Income Recognized | 0 | 0 | 0 | ||
Corporate/Partnership loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 9,027,000 | [1] | 99,076,000 | [1] | |
Unpaid Principal Balance | 9,057,000 | [1] | 99,067,000 | [1] | |
Related Allowance | -550,000 | [1] | -43,460,000 | [1] | |
Average Recorded Investment | 52,963,000 | 85,723,000 | 72,358,000 | ||
Interest Income Recognized | 181,000 | 6,373,000 | 472,000 | ||
With no related allowance recorded | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 35,659,000 | 39,471,000 | 172,203,000 | ||
Interest Income Recognized | 1,922,000 | 15,319,000 | 2,925,000 | ||
With no related allowance recorded | Senior mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 0 | [1] | 3,012,000 | [1] | |
Unpaid Principal Balance | 0 | [1] | 2,992,000 | [1] | |
Related Allowance | 0 | [1] | 0 | [1] | |
Average Recorded Investment | 35,659,000 | 31,409,000 | 162,093,000 | ||
Interest Income Recognized | 1,922,000 | 9,269,000 | 2,765,000 | ||
With no related allowance recorded | Corporate/Partnership loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 0 | 8,062,000 | 10,110,000 | ||
Interest Income Recognized | 0 | 6,050,000 | 160,000 | ||
With an allowance recorded | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 139,672,000 | [1] | 749,413,000 | [1] | |
Unpaid Principal Balance | 138,801,000 | [1] | 744,530,000 | [1] | |
Related Allowance | -64,990,000 | [1] | -348,004,000 | [1] | |
Average Recorded Investment | 387,314,000 | 904,290,000 | 1,178,501,000 | ||
Interest Income Recognized | 339,000 | 2,299,000 | 4,177,000 | ||
With an allowance recorded | Senior mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 130,645,000 | [1] | 650,337,000 | [1] | |
Unpaid Principal Balance | 129,744,000 | [1] | 645,463,000 | [1] | |
Related Allowance | -64,440,000 | [1] | -304,544,000 | [1] | |
Average Recorded Investment | 334,351,000 | 794,247,000 | 1,064,045,000 | ||
Interest Income Recognized | 158,000 | 1,976,000 | 3,865,000 | ||
With an allowance recorded | Subordinate mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 0 | 32,382,000 | 52,208,000 | ||
Interest Income Recognized | 0 | 0 | 0 | ||
With an allowance recorded | Corporate/Partnership loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 9,027,000 | [1] | 99,076,000 | [1] | |
Unpaid Principal Balance | 9,057,000 | [1] | 99,067,000 | [1] | |
Related Allowance | -550,000 | [1] | -43,460,000 | [1] | |
Average Recorded Investment | 52,963,000 | 77,661,000 | 62,248,000 | ||
Interest Income Recognized | 181,000 | 323,000 | 312,000 | ||
Nonperforming Financing Receivable [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired financing receivable, interest income, cash basis method | $0 | $13,300,000 | |||
[1] | All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of December 31, 2014 and 2013, certain loans modified through troubled debt restructurings with a recorded investment of $10.4 million and $231.8 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status. |
Loans_Receivable_and_Other_Len8
Loans Receivable and Other Lending Investments, net (Troubled Debt Restructurings) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
loans | loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Loans | 6 | |
Unfunded commitments, troubled debt restructurings | $0 | |
Senior mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Loans | 1 | 6 |
Pre-Modification Outstanding Recorded Investment | 7,040,000 | 179,030,000 |
Post-Modification Outstanding Recorded Investment | 7,040,000 | 154,278,000 |
Performing senior mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Loans | 2 | |
Non-performing senior mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Loans | 1 | 2 |
Recorded investment of loans whose maturity was extended | 174,500,000 | |
Financing receivable modifications recorded investment of contracts whose maturity extended and reduced principal | 98,300,000 | |
Repayment of debt | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment of loans whose maturity was extended | 15,400,000 | |
One Year Payment Extension | Performing senior mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment of loans whose maturity was extended | 4,600,000 | |
Finance receivable, trouble debt restructuring time period | 1 year | |
One Year Payment Extension | Non-performing senior mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment of loans whose maturity was extended | $7,000,000 | |
Finance receivable, trouble debt restructuring time period | 1 year |
Loans_Receivable_and_Other_Len9
Loans Receivable and Other Lending Investments, net (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | |||
Carrying value of loans sold | $30.80 | $95.10 | $53.90 |
Realized investment gains (losses) | $19.10 | ($0.60) | $6.40 |
Recovered_Sheet1
Loans Receivable and Other Lending Investments, net (Securities) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Available-for-sale Securities, Amortized Cost Basis | $1,020 | |
Available-for-sale Securities, Net Unrealized Gain (Loss) | 147 | -18 |
Available-for-sale Securities, Debt Securities, Fair Value | 1,167 | |
Investments, Debt and Equity Securities [Abstract] | ||
Face Value | 177,274 | 140,897 |
Amortized Cost Basis | 187,524 | 141,945 |
Net Carrying Amount | 187,671 | 141,927 |
Estimated Fair Value | 191,366 | 141,927 |
Held-to-maturity Securities, Debt Maturities [Abstract] | ||
Held-to-Maturity Securities, Amortized Cost Basis | 186,504 | |
Held-to-maturity Securities, Fair Value | 190,199 | |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ||
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 0 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 186,504 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 0 | |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 190,199 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 0 | |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 0 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 0 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 0 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 1,020 | |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 1,167 | |
Municipal Bonds | ||
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Available-for-sale Securities, Face Value | 1,020 | 1,055 |
Available-for-sale Securities, Amortized Cost Basis | 1,020 | 1,055 |
Available-for-sale Securities, Net Unrealized Gain (Loss) | 147 | -18 |
Available-for-sale Securities, Debt Securities, Fair Value | 1,167 | 1,037 |
Available-for-sale Securities, Debt Securities | 1,167 | 1,037 |
Corporate Debt Securities | ||
Held-to-maturity Securities, Debt Maturities [Abstract] | ||
Held-to-Maturity Securities, Face Value | 176,254 | 139,842 |
Held-to-Maturity Securities, Amortized Cost Basis | 186,504 | 140,890 |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 190,199 | 140,890 |
Held-to-maturity Securities | $186,504 | $140,890 |
Other_Investments_Schedule_of_
Other Investments (Schedule of Other Investments) (Details) (USD $) | 6 Months Ended | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Apr. 19, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 28, 2010 | |||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | $338,930 | $197,307 | |||||||
Other, carrying value | 15,189 | 9,902 | |||||||
Other investments | 354,119 | 207,209 | |||||||
Earnings (loss) from equity method investments | 94,905 | 41,520 | 103,009 | ||||||
Real estate equity investments | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 244,886 | 62,205 | |||||||
Earnings (loss) from equity method investments | 53,428 | 2,753 | 21,636 | ||||||
Other Equity Method Investee One | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Earnings (loss) from equity method investments | 23,400 | ||||||||
Other equity method investments | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 30,415 | 45,954 | |||||||
Earnings (loss) from equity method investments | 35,172 | [1],[2] | 3,332 | 4,614 | |||||
Madison Funds | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 45,971 | 67,782 | |||||||
Earnings (loss) from equity method investments | 3,092 | 14,796 | 10,246 | ||||||
Oak Hill Funds | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 17,658 | 21,366 | |||||||
Earnings (loss) from equity method investments | 3,213 | 4,174 | 5,844 | ||||||
LNR Property LLC (LNR) | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
iStar's ownership percentage | 24.00% | [3] | 24.00% | [3] | 24.00% | ||||
Equity method investments | 0 | 0 | |||||||
Earnings (loss) from equity method investments | 45,375 | [3] | 0 | 16,465 | 60,669 | 60,669 | [3] | ||
Other Equity Method Investee | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Earnings (loss) from equity method investments | 9,000 | ||||||||
Net Lease | Real Estate Equity Investment Three | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
iStar's ownership percentage | 50.00% | ||||||||
Equity method investments | 200 | 16,400 | |||||||
Earnings (loss) from equity method investments | $33,300 | ||||||||
[1] | In conjunction with the sale of the Company's interests in Oak Hill Advisors, L.P. in 2011, the Company retained interests in its share of carried interest related to various funds. During the year ended December 31, 2014, the Company recognized $9.0 million of carried interest income. | ||||||||
[2] | During the year ended December 31, 2014, the Company recognized $23.4 million of earnings from equity method investments resulting from asset sales and a legal settlement by one of its equity method investees. | ||||||||
[3] | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. |
Other_Investments_LNR_Property
Other Investments (LNR Property Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||
Apr. 30, 2013 | Jul. 31, 2010 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Apr. 19, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Apr. 30, 2014 | Jul. 28, 2010 | |||||||
Equity Method Ownership Rollforward [Roll Forward] | ||||||||||||||||||
Distributions from operations of equity method investments | $80,116,000 | $17,252,000 | $105,586,000 | |||||||||||||||
Earnings from equity method investments | 94,905,000 | 41,520,000 | 103,009,000 | |||||||||||||||
LNR Property LLC (LNR) | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
iStar's ownership percentage | 24.00% | [1] | 24.00% | [1] | 24.00% | |||||||||||||
Percentage of ownership acquired by the Company and a group of investors | 100.00% | |||||||||||||||||
Contribution towards principal amount of Holdco Notes | 100,000,000 | |||||||||||||||||
Amount of cash contributed in exchange for equity interest | 100,000,000 | |||||||||||||||||
Equity interest in investee | 120,000,000 | |||||||||||||||||
Real estate, net proceeds received from escrow | 25,200,000 | |||||||||||||||||
Equity Method Ownership Rollforward [Roll Forward] | ||||||||||||||||||
Carrying value of LNR at beginning of period | 220,281,000 | 220,281,000 | 205,773,000 | 0 | 0 | 205,773,000 | ||||||||||||
Equity in earnings of LNR for the period | 0 | [2] | 45,375,000 | [2] | 0 | [2] | 45,375,000 | [2] | ||||||||||
Balance before other than temporary impairment | 220,281,000 | 251,148,000 | 0 | 251,148,000 | ||||||||||||||
Other than temporary impairment | 0 | [2] | -30,867,000 | [2] | 0 | [2] | -30,867,000 | [2] | ||||||||||
Sales proceeds pursuant to contract | -220,300,000 | -220,281,000 | 0 | 0 | -220,281,000 | |||||||||||||
Carrying value of LNR at end of period | 0 | 220,281,000 | 0 | 0 | 205,773,000 | |||||||||||||
Income (loss) from equity method investments, release of AOCI | 1,700,000 | |||||||||||||||||
Operating cash flows | -127,075,000 | [1] | -85,909,000 | [1] | ||||||||||||||
Cash flows from investing activities | -36,543,000 | [1] | -55,686,000 | [1] | ||||||||||||||
Cash flows from financing activities | 217,241,000 | [1] | 229,634,000 | [1] | ||||||||||||||
Net cash flows | 53,623,000 | [1] | 88,039,000 | [1] | ||||||||||||||
Cash distributions | 0 | [1] | 61,179,000 | [1] | ||||||||||||||
Distributions from operations of equity method investments | 0 | [1] | 14,690,000 | [1] | ||||||||||||||
Equity method investment, summarized financial information, other loss | 66,200,000 | |||||||||||||||||
Earnings from equity method investments | 45,375,000 | [1] | 0 | 16,465,000 | 60,669,000 | 60,669,000 | [1] | |||||||||||
LNR Property Corporation and Considered Variable Interest Entity | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Servicing fee revenue | $55,500,000 | $95,400,000 | ||||||||||||||||
[1] | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. | |||||||||||||||||
[2] | During the year ended December 31, 2013, the Company recorded an other than temporary impairment of $30.9 million. Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. |
Other_Investments_Income_State
Other Investments (Income Statement) (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||||||
Apr. 19, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 28, 2010 | |||
Schedule of Equity Method Investments [Line Items] | ||||||||
Total revenue | $626,039,000 | $284,513,000 | $401,870,000 | |||||
Net income attributable to parent entities | 440,210,000 | 206,198,000 | 304,960,000 | |||||
Earnings from equity method investments | 94,905,000 | 41,520,000 | 103,009,000 | |||||
LNR Property LLC (LNR) | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Total revenue | 179,373,000 | [1],[2] | 332,902,000 | [1],[2] | ||||
Income tax (expense) benefit | -2,137,000 | [2] | -6,731,000 | [2] | ||||
Net income attributable to parent entities | 113,478,000 | [2],[3] | 253,039,000 | [2],[3] | ||||
iStar's ownership percentage | 24.00% | [2] | 24.00% | [2] | 24.00% | |||
Earnings from equity method investments | 45,375,000 | [2] | 0 | 16,465,000 | 60,669,000 | 60,669,000 | [2] | |
LNR Property Corporation and Considered Variable Interest Entity | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Servicing fee revenue | $55,500,000 | $95,400,000 | ||||||
[1] | LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. Total revenue presented above includes $55.5 million and $95.4 million for the period from October 1, 2012 to April 19, 2013 and for the year ended September 30, 2012, respectively, of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR. | |||||||
[2] | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. | |||||||
[3] | Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. |
Other_Investments_Narrative_De
Other Investments (Narrative) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | $338,930,000 | $197,307,000 | ||||
Earnings (loss) from equity method investments | 94,905,000 | 41,520,000 | 103,009,000 | |||
Provision for (recovery of) loan losses | -1,714,000 | [1] | 5,489,000 | [1] | 81,740,000 | [1] |
Net proceeds from sales of real estate | 419,527,000 | 437,817,000 | 562,705,000 | |||
Madison International Real Estate Fund IILP | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 29.50% | |||||
MIRELF III | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 32.90% | |||||
MIRELF III AIV | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 32.90% | |||||
Madison GP1 Investors LP | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 29.50% | |||||
Oak Hill Funds Group 2 | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 5.90% | |||||
Net Lease Asset One | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net proceeds from sales of real estate | 7,800,000 | |||||
Net Lease Asset One | iStar Net Lease I LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Net proceeds from sales of real estate | 93,700,000 | |||||
Land | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of properties acquired | 1 | |||||
Land | Real Estate Equity Investment Five | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 75.60% | |||||
Equity method investments | 21,100,000 | 18,000,000 | ||||
Land | Real Estate Equity Investment Six | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 50.00% | |||||
Equity method investments | 7,800,000 | 3,500,000 | ||||
Land | Real Estate Equity Investment Two | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 85.70% | 50.00% | ||||
Equity method investments | 9,400,000 | |||||
Loans receivable, commitments, related party | 45,700,000 | |||||
Land | Real Estate Equity Investment Four | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 15.70% | |||||
Equity method investments | 23,500,000 | |||||
Provision for (recovery of) loan losses | 2,800,000 | |||||
Land | Other real estate equity investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 13,800,000 | 2,700,000 | ||||
Land | Marina Palms, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 47.50% | |||||
Equity method investments | 30,700,000 | 5,500,000 | ||||
Earnings (loss) from equity method investments | 14,700,000 | |||||
Net proceeds from sales of real estate | 21,400,000 | |||||
Equity method investment, carryover basis | 10,600,000 | |||||
Equity method investment, preferred interest | 10,000,000 | 6,600,000 | ||||
Net Lease | Real Estate Equity Investment Three | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 50.00% | |||||
Equity method investments | 200,000 | 16,400,000 | ||||
Proceeds from real estate and real estate joint ventures | 48,100,000 | |||||
Earnings (loss) from equity method investments | 33,300,000 | |||||
Net Lease | iStar Net Lease I LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 51.90% | |||||
Partners' capital account, contributions | 500,000,000 | |||||
Equity method investment, related party ownership percentage | 0.60% | |||||
Equity method investment, related party promote fee percentage | 50.00% | |||||
Equity method investment, partner ownership percentage | 47.50% | |||||
Net proceeds from sales of real estate | 10,100,000 | |||||
Noncontrolling interest, ownership percentage by parent | 72.00% | |||||
Transfer mortgage payable | 26,000,000 | |||||
Number of properties acquired | 58 | |||||
Acquisitions of real estate assets | 200,000,000 | |||||
Total assets | 348,100,000 | |||||
Equity method investments | 125,400,000 | |||||
Operating Properties | Other real estate equity investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 13,200,000 | 16,000,000 | ||||
Minimum | Other real estate equity investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 31.00% | |||||
Maximum | Other real estate equity investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
iStar's ownership percentage | 70.00% | |||||
Loans Receivable and Other Lending Investments, Net | Land | Real Estate Equity Investment Two | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Payments for funding under loan commitments | $14,600,000 | |||||
[1] | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. |
Other_Investments_Summarized_f
Other Investments (Summarized financial information) (Details) (USD $) | 12 Months Ended | 6 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 19, 2013 | Jul. 28, 2010 | ||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | $626,039 | $284,513 | $401,870 | |||||||||||
Expenses | -185,603 | -77,633 | -95,391 | |||||||||||
Net income attributable to parent entities | 440,210 | 206,198 | 304,960 | |||||||||||
Equity Method Investments Excluding Lnr Property Corporation | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Total assets | 3,464,984 | 2,980,737 | ||||||||||||
Total liabilities | 479,298 | 303,100 | ||||||||||||
Noncontrolling interests | 3,297 | 333 | ||||||||||||
Total equity | 2,982,389 | 2,677,304 | ||||||||||||
Alinda | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 233,130 | [1] | 123,447 | [1] | 104,364 | [1] | ||||||||
Expenses | -15,433 | [1] | -17,927 | [1] | -16,934 | [1] | ||||||||
Net income attributable to parent entities | 217,697 | [1] | 105,520 | [1] | 87,430 | [1] | ||||||||
iStar's ownership percentage | 1.00% | |||||||||||||
Marina Palms, LLC [Member] | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 114,125 | 73 | [2] | |||||||||||
Expenses | -77,120 | -3,525 | [2] | |||||||||||
Net income attributable to parent entities | 37,005 | -3,452 | [2] | |||||||||||
iStar Net Lease I LLC [Member] | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 13,826 | [3] | ||||||||||||
Expenses | -9,917 | [3] | ||||||||||||
Net income attributable to parent entities | 3,691 | [3] | ||||||||||||
MIRELF III | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 20,293 | 19,460 | 13,490 | |||||||||||
Expenses | -1,401 | -1,675 | -3,894 | |||||||||||
Net income attributable to parent entities | 18,846 | 17,739 | 9,550 | |||||||||||
iStar's ownership percentage | 32.90% | |||||||||||||
MIRELF III AIV | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | -1,194 | 26,348 | -12,762 | |||||||||||
Expenses | -384 | -1,167 | -1,731 | |||||||||||
Net income attributable to parent entities | -1,578 | 25,181 | -14,493 | |||||||||||
iStar's ownership percentage | 32.90% | |||||||||||||
Westgate | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 13,118 | 12,447 | 1,935 | |||||||||||
Expenses | -9,618 | -8,889 | -2,202 | |||||||||||
Net income attributable to parent entities | 3,500 | 3,558 | -267 | |||||||||||
OHASCF | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 78,262 | 72,313 | 109,234 | |||||||||||
Expenses | -951 | -1,642 | -2,700 | |||||||||||
Net income attributable to parent entities | 77,311 | 70,671 | 106,534 | |||||||||||
Moor Park | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 25,760 | 1,373 | 1,225 | |||||||||||
Expenses | -224 | -304 | -435 | |||||||||||
Net income attributable to parent entities | 25,536 | 1,069 | 790 | |||||||||||
LNR Property LLC (LNR) | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 332,902 | [4],[5] | 179,373 | [4],[5] | ||||||||||
Net income attributable to parent entities | 253,039 | [5],[6] | 113,478 | [5],[6] | ||||||||||
iStar's ownership percentage | 24.00% | [5] | 24.00% | [5] | 24.00% | |||||||||
Other | ||||||||||||||
Equity Method Investments, Summarized Financial Information [Line Items] | ||||||||||||||
Revenues | 128,719 | 29,052 | 184,384 | |||||||||||
Expenses | -70,555 | -42,504 | -67,495 | |||||||||||
Net income attributable to parent entities | $58,202 | ($14,088) | $115,416 | |||||||||||
[1] | The Company recorded its 1% investment in Alinda on a quarter lag. Therefore, the amounts in the Company's financial statements for the years ended December 31, 2014, 2013 and 2012 were based on balances and results from Alinda for the years ended September 30, 2014, 2013 and 2012, respectively. | |||||||||||||
[2] | The Company began accounting for its investment in Marina Palms under the equity method of accounting on April 17, 2013. The amounts in the Company's financial statements for the year ended December 31, 2013 are based on the balances and results from Marina Palms for the period from April 17, 2013 to December 31, 2013. | |||||||||||||
[3] | The Company began accounting for its investment in Net Lease Venture under the equity method of accounting on February 13, 2014. The amounts in the Company's financial statements for the year ended December 31, 2014 are based on the balances and results from Net Lease Venture for the period from February 13, 2014 to December 31, 2014. | |||||||||||||
[4] | LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. Total revenue presented above includes $55.5 million and $95.4 million for the period from October 1, 2012 to April 19, 2013 and for the year ended September 30, 2012, respectively, of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR. | |||||||||||||
[5] | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag. Therefore, the amounts in the Company's financial statements for the year ended December 31, 2013 was based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 are based on the balances and results from LNR for the year ended September 30, 2012. | |||||||||||||
[6] | Subsequent to the sale of the Company's interest in LNR, LNR reported a reduction in their earnings of $66.2 million related to a purchase price allocation adjustment. The reduction was reflected in LNR's operations for the three months ended March 31, 2013, which resulted in a net loss for the period. Because the Company recorded its investment in LNR on a one quarter lag, the adjustment was reflected in the quarter ended June 30, 2013. There was no net impact on the Company's previously reported equity in earnings as the Company limited its proportionate share of earnings from LNR pursuant to the definitive sale agreement as described above. |
Other_Assets_and_Other_Liabili2
Other Assets and Other Liabilities (Other Assets) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Other Assets and Other Liabilities [Abstract] | |||||
Intangible assets, net | $50,088,000 | [1] | $100,652,000 | [1] | |
Other assets | 37,085,000 | 40,726,000 | |||
Deferred financing fees, net | 36,774,000 | [2] | 33,591,000 | [2] | |
Leasing costs, net | 20,031,000 | [3] | 21,799,000 | [3] | |
Other receivables | 13,115,000 | 34,655,000 | |||
Corporate furniture, fixtures and equipment, net | 5,409,000 | [4] | 6,557,000 | [4] | |
Deferred expenses and other assets, net | 162,502,000 | 237,980,000 | |||
Intangible assets, accumulated amortization | 45,100,000 | 38,100,000 | |||
Amortization of above market lease | 7,700,000 | 7,000,000 | 5,800,000 | ||
Amortization of intangible assets | 6,700,000 | 8,200,000 | 7,000,000 | ||
Accumulated amortization of deferred financing fees | 15,400,000 | 9,900,000 | |||
Accumulated amortization on leasing costs | 9,000,000 | 7,100,000 | |||
Accumulated depreciation on corporate furniture, fixtures and equipment | $7,100,000 | $6,200,000 | |||
[1] | Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $45.1 million and $38.1 million as of December 31, 2014 and 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $7.7 million, $7.0 million and $5.8 million for the years ended December 31, 2014, 2013, and 2012, respectively. The amortization expense for other intangible assets was $6.7 million, $8.2 million and $7.0 million for the years ended December 31, 2014, 2013, and 2012, respectively. These amounts are included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations. | ||||
[2] | Accumulated amortization on deferred financing fees was $15.4 million and $9.9 million as of December 31, 2014 and 2013, respectively. | ||||
[3] | Accumulated amortization on leasing costs was $9.0 million and $7.1 million as of December 31, 2014 and 2013, respectively. | ||||
[4] | Accumulated depreciation on corporate furniture, fixtures and equipment was $7.1 million and $6.2 million as of December 31, 2014 and 2013, respectively. |
Other_Assets_and_Other_Liabili3
Other Assets and Other Liabilities (Schedule of Other Liabilities) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Other Assets and Other Liabilities [Abstract] | |||||
Accrued expenses | $62,866,000 | $58,840,000 | |||
Accrued interest payable | 57,895,000 | 40,015,000 | |||
Other Liabilities | 48,256,000 | [1] | 45,753,000 | [1] | |
Intangible liabilities, net | 11,885,000 | [2] | 26,223,000 | [2] | |
Accounts payable, accrued expenses and other liabilities | 180,902,000 | 170,831,000 | |||
Profit sharing payable | 6,800,000 | ||||
Special assessment bond | 7,700,000 | ||||
Below market lease, accumulated amortization | 6,200,000 | 4,600,000 | |||
Amortization of below market lease | $2,500,000 | $2,800,000 | $1,400,000 | ||
[1] | As of December 31, 2014, "Other liabilities" includes $6.8 million related to a profit sharing payable to a developer for residential units sold. "Other liabilities" also includes $7.7 million related to tax increment financing ("TIF") bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels. | ||||
[2] | Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.2 million and $4.6 million as of December 31, 2014 and 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $2.5 million, $2.8 million and $1.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Other_Assets_and_Other_Liabili4
Other Assets and Other Liabilities (Intangible assets and liabilities) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Intangible Assets Disclosure [Abstract] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $5,929 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 5,677 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 5,308 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 4,987 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $4,830 |
Debt_Obligations_net_Schedule_
Debt Obligations, net (Schedule of Debt) (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | 31-May-13 | Nov. 13, 2013 | Jun. 10, 2014 | ||
Debt Instrument [Line Items] | |||||||
Total debt obligations | $4,034,349 | $4,196,589 | |||||
Debt discounts, net | -11,665 | -38,464 | |||||
Total long-term debt obligations, net | 4,022,684 | 4,158,125 | |||||
2012 Tranche A-2 Facility | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 358,504 | [1] | 431,475 | [1] | |||
Stated interest rate | 7.00% | ||||||
Variable interest rate, spread | 5.75% | [1] | |||||
Variable interest rate, basis | LIBOR | [1] | |||||
February 2013 Secured Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 0 | [2] | 1,379,407 | [2] | |||
Variable interest rate, spread | 3.50% | [2] | |||||
Variable interest rate, basis | LIBOR | [2] | |||||
Term loans collateralized by net lease assets | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 248,955 | [3] | 278,817 | [3] | |||
Weighted average interest rate | 5.30% | ||||||
Stated interest rate, minimum | 4.85% | [3] | |||||
Stated interest rate, maximum | 7.26% | [3] | |||||
Total secured credit facilities and term loans | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 607,459 | 2,089,699 | |||||
Unsecured Notes 6.05% senior notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 105,765 | 105,765 | |||||
Stated interest rate | 6.05% | ||||||
Unsecured Notes 5.875% senior notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 261,403 | 261,403 | |||||
Stated interest rate | 5.88% | ||||||
Unsecured Notes 3 point 875 Percent Senior Notes Due July 2016 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 265,000 | 265,000 | |||||
Stated interest rate | 3.88% | 3.88% | |||||
Senior Convertible 3.0% notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 200,000 | [4] | 200,000 | [4] | |||
Stated interest rate | 3.00% | [4] | |||||
Convertible debt conversion ratio | 0.085 | ||||||
Senior Convertible One Point 50 Percent Notes Due November 2016 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 200,000 | [5] | 200,000 | [5] | |||
Stated interest rate | 1.50% | [5] | 1.50% | ||||
Convertible debt conversion ratio | 0.0578 | ||||||
Unsecured Notes 5.85% senior notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 99,722 | 99,722 | |||||
Stated interest rate | 5.85% | ||||||
Unsecured Notes 9.0% senior notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 275,000 | 275,000 | |||||
Stated interest rate | 9.00% | ||||||
Unsecured Notes 4.00% Senior Notes Due November 2017 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 550,000 | 0 | |||||
Stated interest rate | 4.00% | 4.00% | |||||
Unsecured Notes 7.125% senior notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 300,000 | 300,000 | |||||
Stated interest rate | 7.13% | ||||||
Unsecured Notes 4 point 875 Percent Senior Notes Due July 2018 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 300,000 | 300,000 | |||||
Stated interest rate | 4.88% | 4.88% | |||||
Unsecured Notes 5.00% Senior Notes Due July 2019 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 770,000 | 0 | |||||
Stated interest rate | 5.00% | 5.00% | |||||
Unsecured Notes | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | 3,326,890 | 2,006,890 | |||||
Other debt obligations due in October, 2035 | |||||||
Debt Instrument [Line Items] | |||||||
Total debt obligations | $100,000 | $100,000 | |||||
Variable interest rate, spread | 1.50% | ||||||
Variable interest rate, basis | LIBOR | ||||||
Minimum | 2012 Tranche A-2 Facility | |||||||
Debt Instrument [Line Items] | |||||||
Variable interest rate, spread | 1.25% | ||||||
Minimum | London Interbank Offered Rate (LIBOR) | February 2013 Secured Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Variable interest rate, spread | 1.00% | ||||||
Property One | London Interbank Offered Rate (LIBOR) | Term loans collateralized by net lease assets | |||||||
Debt Instrument [Line Items] | |||||||
Variable interest rate, spread | 2.00% | ||||||
Property Two | London Interbank Offered Rate (LIBOR) | Term loans collateralized by net lease assets | |||||||
Debt Instrument [Line Items] | |||||||
Variable interest rate, spread | 2.75% | ||||||
[1] | The loan has a LIBOR floor of 1.25%. As of December 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%. | ||||||
[2] | This loan had a LIBOR floor of 1.00%. | ||||||
[3] | As of December 31, 2014 and 2013, includes a loan with a floating rate of LIBOR plus 2.00%. As of December 31, 2013, includes a loan with a floating rate of LIBOR plus 2.75%. As of December 31, 2014, the weighted average interest rate of these loans is 5.3%. | ||||||
[4] | The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at any time prior to the close of business on November 14, 2016. | ||||||
[5] | The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016. |
Debt_Obligations_net_Future_Sc
Debt Obligations, net (Future Scheduled Maturities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Maturities of Long-term Debt [Abstract] | ||
2015 | $105,765 | |
2016 | 926,403 | |
2017 | 1,283,226 | |
2018 | 615,239 | |
2019 | 802,312 | |
Thereafter | 301,404 | |
Total principal maturities | 4,034,349 | 4,196,589 |
Unamortized debt discounts, net | -11,665 | -38,464 |
Total long-term debt obligations, net | 4,022,684 | 4,158,125 |
Unsecured Debt | ||
Maturities of Long-term Debt [Abstract] | ||
2015 | 105,765 | |
2016 | 926,403 | |
2017 | 924,722 | |
2018 | 600,000 | |
2019 | 770,000 | |
Thereafter | 100,000 | |
Total principal maturities | 3,426,890 | |
Unamortized debt discounts, net | -8,371 | |
Total long-term debt obligations, net | 3,418,519 | |
Secured Debt | ||
Maturities of Long-term Debt [Abstract] | ||
2015 | 0 | |
2016 | 0 | |
2017 | 358,504 | |
2018 | 15,239 | |
2019 | 32,312 | |
Thereafter | 201,404 | |
Total principal maturities | 607,459 | |
Unamortized debt discounts, net | -3,294 | |
Total long-term debt obligations, net | $604,165 |
Debt_Obligations_net_Secured_C
Debt Obligations, net (Secured Credit Facility Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 18 Months Ended | 1 Months Ended | 33 Months Ended | 1 Months Ended | |||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Feb. 28, 2013 | Jun. 10, 2014 | Mar. 31, 2012 | Dec. 31, 2014 | Nov. 30, 2013 | 31-May-13 | Feb. 11, 2013 | Oct. 15, 2012 | Nov. 13, 2013 | |||
tranches | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Repayment of principal amount | $1,471,174,000 | $1,984,102,000 | $4,608,133,000 | ||||||||||||
Loss on early extinguishment of debt, net | 25,369,000 | 33,190,000 | 37,816,000 | ||||||||||||
February 2013 Secured Credit Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 1,710,000,000 | ||||||||||||||
Debt instrument, lender fees, amount | 17,100,000 | ||||||||||||||
Debt instrument, capitalized lender fees | 14,400,000 | ||||||||||||||
Debt instrument, lender fees, amount recorded as a loss on early extinguishment of debt | 2,700,000 | ||||||||||||||
Debt instrument, third party fees | 3,800,000 | ||||||||||||||
Debt instrument, third party fees, amount recognized | 3,600,000 | ||||||||||||||
Debt instrument, third party fees, amount capitalized | 200,000 | ||||||||||||||
Repayment of principal amount | 1,320,000,000 | 388,500,000 | |||||||||||||
Variable interest rate, basis | LIBOR | [1] | |||||||||||||
Variable interest rate, spread | 3.50% | [1] | |||||||||||||
October 2012 Secured Credit Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 1,820,000,000 | ||||||||||||||
2012 Tranche A-1 Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 410,000,000 | ||||||||||||||
Loss on early extinguishment of debt, net | 4,400,000 | 8,100,000 | |||||||||||||
Variable interest rate, basis | LIBOR | ||||||||||||||
Percentage of par credit facilities were issued at | 98.00% | ||||||||||||||
Variable interest rate, spread | 4.00% | ||||||||||||||
2012 Secured Credit Facilities | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 880,000,000 | ||||||||||||||
Number of tranches | 2 | ||||||||||||||
Unsecured Notes LIBOR plus 0.50% senior convertible notes | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Repayment of principal amount | 606,700,000 | ||||||||||||||
Unsecured Line of credit due June 2012 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Repayment of principal amount | 244,000,000 | ||||||||||||||
Unsecured Notes 5.50% senior notes | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Stated interest rate | 5.50% | ||||||||||||||
Repayment of principal amount | 90,300,000 | ||||||||||||||
2012 Tranche A-2 Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 470,000,000 | ||||||||||||||
Stated interest rate | 7.00% | 7.00% | |||||||||||||
Repayment of principal amount | 111,500,000 | ||||||||||||||
Loss on early extinguishment of debt, net | 1,500,000 | 1,000,000 | |||||||||||||
Variable interest rate, basis | LIBOR | [2] | |||||||||||||
Percentage of par credit facilities were issued at | 98.50% | ||||||||||||||
Variable interest rate, spread | 5.75% | [2] | |||||||||||||
Unsecured Notes 4.00% Senior Notes Due November 2017 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 550,000,000 | ||||||||||||||
Stated interest rate | 4.00% | 4.00% | 4.00% | ||||||||||||
Unsecured Notes 5.00% Senior Notes Due July 2019 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 770,000,000 | ||||||||||||||
Stated interest rate | 5.00% | 5.00% | 5.00% | ||||||||||||
Senior Convertible One Point 50 Percent Notes Due November 2016 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 200,000,000 | ||||||||||||||
Stated interest rate | 1.50% | [3] | 1.50% | [3] | 1.50% | ||||||||||
Unsecured Notes 5 Point 70 Percent Senior Notes Due March 2014 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Stated interest rate | 5.70% | ||||||||||||||
Repayment of principal amount | 200,600,000 | ||||||||||||||
Loss on early extinguishment of debt, net | 2,800,000 | ||||||||||||||
Unsecured Notes 3 point 875 Percent Senior Notes Due July 2016 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 265,000,000 | ||||||||||||||
Stated interest rate | 3.88% | 3.88% | 3.88% | ||||||||||||
Unsecured Notes 4 point 875 Percent Senior Notes Due July 2018 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, face amount | 300,000,000 | ||||||||||||||
Stated interest rate | 4.88% | 4.88% | 4.88% | ||||||||||||
Unsecured Notes 8 point 625 Percent Senior Notes Due June 2013 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Stated interest rate | 8.63% | ||||||||||||||
Repayment of principal amount | 96,800,000 | ||||||||||||||
Unsecured Notes 5 point 95 Percent Senior Notes Due October 2013 | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Stated interest rate | 5.95% | ||||||||||||||
Repayment of principal amount | 448,500,000 | ||||||||||||||
Loss on early extinguishment of debt, net | 9,500,000 | ||||||||||||||
Minimum | 2012 Tranche A-2 Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Variable interest rate, spread | 1.25% | ||||||||||||||
London Interbank Offered Rate (LIBOR) | Minimum | February 2013 Secured Credit Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Variable interest rate, spread | 1.00% | ||||||||||||||
London Interbank Offered Rate (LIBOR) | Minimum | 2012 Tranche A-1 Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Variable interest rate, spread | 1.25% | ||||||||||||||
Normal Repayment [Member] | February 2013 Secured Credit Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Loss on early extinguishment of debt, net | 1,100,000 | 7,000,000 | |||||||||||||
Early Repayment [Member] | February 2013 Secured Credit Facility | |||||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||||
Debt instrument, lender fees, amount recorded as a loss on early extinguishment of debt | $22,800,000 | ||||||||||||||
[1] | This loan had a LIBOR floor of 1.00%. | ||||||||||||||
[2] | The loan has a LIBOR floor of 1.25%. As of December 31, 2014, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%. | ||||||||||||||
[3] | The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at any time prior to the close of business on November 14, 2016. |
Debt_Obligations_net_Encumbere
Debt Obligations, net (Encumbered/Unencumbered Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Debt Instrument [Line Items] | ||||
Real estate, net | $2,676,714 | $2,796,181 | ||
Real estate available and held for sale | 285,982 | 360,517 | ||
Loans receivable and other lending investments, net | 1,377,843 | [1] | 1,370,109 | [1] |
Other investments | 354,119 | 207,209 | ||
Cash and other assets | 768,475 | 907,995 | ||
Total assets | 5,463,133 | 5,642,011 | ||
Financing receivable, allowance for credit losses, collectively evaluated for impairment | 33,500 | [2] | 29,200 | [2] |
Encumbered Assets | ||||
Debt Instrument [Line Items] | ||||
Real estate, net | 620,378 | 1,644,463 | ||
Real estate available and held for sale | 10,496 | 152,604 | ||
Loans receivable and other lending investments, net | 46,515 | [3] | 860,557 | [3] |
Other investments | 17,708 | 24,093 | ||
Cash and other assets | 0 | 0 | ||
Total assets | 695,097 | 2,681,717 | ||
Unencumbered Assets | ||||
Debt Instrument [Line Items] | ||||
Real estate, net | 2,056,336 | 1,151,718 | ||
Real estate available and held for sale | 275,486 | 207,913 | ||
Loans receivable and other lending investments, net | 1,364,828 | [3] | 538,752 | [3] |
Other investments | 336,411 | 183,116 | ||
Cash and other assets | 768,475 | 907,995 | ||
Total assets | $4,801,536 | $2,989,494 | ||
[1] | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. | |||
[2] | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs aggregating to a net discount of $10.6 million and $4.6 million as of December 31, 2014 and 2013, respectively. | |||
[3] | As of December 31, 2014 and 2013, the amounts presented exclude general reserves for loan losses of $33.5 million and $29.2 million, respectively. |
Debt_Obligations_net_Debt_Cove
Debt Obligations, net (Debt Covenants) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Unsecured Credit Facilities | |
Debt Instrument [Line Items] | |
Minimum ratio of unencumbered assets to unsecured indebtedness | 1.2 |
Total secured credit facilities and term loans | |
Debt Instrument [Line Items] | |
Multiple of the minimum collateral coverage on outstanding borrowings | 1.25 |
Percentage of REIT taxable income permitted for distribution under debt covenants | 100.00% |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (Subsequent Event, Land, Real Estate Sales [Member], USD $) | Jan. 22, 2015 |
In Millions, unless otherwise specified | acre |
Subsequent Event | Land | Real Estate Sales [Member] | |
Other Commitments [Line Items] | |
Area of Real Estate Property | 1,250 |
Unpaid Purchase Price | $114 |
Unpaid Purchase Price, Interest Rate | 12.00% |
Real Estate Taxes Paid | $1.60 |
Noncontrolling Interest, ownership percentage by noncontrolling owners | 15.00% |
Commitments_and_Contingencies_2
Commitments and Contingencies (Unfunded Commitments) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | |
Percentage of capital committed to strategic investments that may be drawn down | 100.00% |
Unfunded Financial Commitments [Line Items] | |
Performance-Based Commitments | $579,595 |
Strategic Investments | 45,714 |
Discretionary Fundings | 5,000 |
Total | 630,309 |
Loans and Other Lending Investments | |
Unfunded Financial Commitments [Line Items] | |
Performance-Based Commitments | 537,924 |
Strategic Investments | 0 |
Discretionary Fundings | 5,000 |
Total | 542,924 |
Real Estate | |
Unfunded Financial Commitments [Line Items] | |
Performance-Based Commitments | 14,667 |
Strategic Investments | 0 |
Discretionary Fundings | 0 |
Total | 14,667 |
Other Investments | |
Unfunded Financial Commitments [Line Items] | |
Performance-Based Commitments | 27,004 |
Strategic Investments | 45,714 |
Discretionary Fundings | 0 |
Total | $72,718 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Other Commitments) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Lease Expense [Abstract] | |||
Operating Leases, Rent Expense, Net | $5,800,000 | $6,100,000 | $6,500,000 |
2015 | 5,598,000 | ||
2016 | 5,598,000 | ||
2017 | 4,982,000 | ||
2018 | 4,179,000 | ||
2019 | 3,442,000 | ||
Thereafter | 8,266,000 | ||
Letters of credit outstanding, amount | $3,700,000 |
Risk_Management_and_Derivative2
Risk Management and Derivatives (Risk Management and Derivatives) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Designated as hedge | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | $52 | $10,150 |
Derivative Liabilities, Fair Value | 478 | 0 |
Designated as hedge | Foreign exchange contracts | Other Assets | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 0 | 393 |
Designated as hedge | Foreign exchange contracts | Other Liabilities | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Liabilities, Fair Value | 478 | 0 |
Designated as hedge | Interest rate swaps | Other Assets | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 52 | 650 |
Designated as hedge | Interest rate swaps | Other Liabilities | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Liabilities, Fair Value | 0 | 0 |
Designated as hedge | Interest rate cap | Other Assets | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 0 | 9,107 |
Designated as hedge | Interest rate cap | Other Liabilities | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Liabilities, Fair Value | 0 | 0 |
Not designated as hedge | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 6,309 | 1,025 |
Derivative Liabilities, Fair Value | 0 | 1,653 |
Not designated as hedge | Foreign exchange contracts | Other Assets | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 1,534 | 1,025 |
Not designated as hedge | Foreign exchange contracts | Other Liabilities | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Liabilities, Fair Value | 0 | 1,653 |
Not designated as hedge | Interest rate cap | Other Assets | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Assets, Fair Value | 4,775 | 0 |
Not designated as hedge | Interest rate cap | Other Liabilities | ||
Derivative financial instruments on consolidated balance sheets | ||
Derivative Liabilities, Fair Value | $0 | $0 |
Risk_Management_and_Derivative3
Risk Management and Derivatives (Classification on the Consolidated Statements of Operations) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative financial instruments on consolidated statements of operations | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $3,634 | [1] | ||
Other Expense | Interest rate cap | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | -2,984 | |||
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | 0 | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | -3,634 | |||
Other Expense | Foreign exchange contracts | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | -471 | 393 | ||
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | 0 | 0 | ||
Other Expense | Foreign exchange contracts | Not designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain or (Loss) Recognized in Income | 7,257 | 880 | -8,920 | |
Earnings from Equity Method Investments | Interest rate cap | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | -9 | |||
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | 0 | |||
Earnings from Equity Method Investments | Interest rate swaps | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | -753 | |||
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | -420 | |||
Interest Expense | Interest rate cap | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | 0 | -1,517 | -968 | |
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | -56 | 0 | 44 | |
Interest Expense | Interest rate cap | Not designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain or (Loss) Recognized in Income | -1,347 | 0 | 0 | |
Interest Expense | Interest rate swaps | Designated as hedge | ||||
Derivative financial instruments on consolidated statements of operations | ||||
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) | -970 | 869 | ||
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) | ($6) | ($310) | ||
[1] | For the year ended December 31, 2014, $3,634 is included in "Other expense" on the Company's Consolidated Statements of Operations (see Note 10) and $420 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. Included in "Interest expense" on the Company's Consolidated Statements of Operations are $62, $310 and $(44) for years ended December 31, 2014, 2013 and 2012, respectively. |
Risk_Management_and_Derivative4
Risk Management and Derivatives (Foreign Exchange Contracts) (Details) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | USD ($) | USD ($) | Sells euro (EUR)/Buys USD Forward | Sells euro (EUR)/Buys USD Forward | Sells INR/Buys USD Forward | Sells INR/Buys USD Forward | Sells pound sterling (GBP)/Buys USD Forward | Sells pound sterling (GBP)/Buys USD Forward | Sells Canadian dollar (CAD)/Buys USD Forward | Sells Canadian dollar (CAD)/Buys USD Forward | |
USD ($) | EUR (€) | USD ($) | INR | USD ($) | GBP (£) | USD ($) | CAD | ||||
Derivative [Line Items] | |||||||||||
Derivative, Notional Amount | $23,807,000 | € 18,800,000 | $6,534,000 | 456,000,000 | $4,830,000 | £ 3,000,000 | $8,933,000 | 10,000,000 | |||
Maturity of Foreign Currency Derivatives | 7-Jan-15 | 7-Jan-15 | 30-Jun-15 | 30-Jun-15 | 7-Jan-15 | 7-Jan-15 | 7-Jan-15 | 7-Jan-15 | |||
Foreign currency transaction gain (loss) | $100,000 | ($2,000,000) | ($700,000) |
Risk_Management_and_Derivative5
Risk Management and Derivatives (Interest Rate Hedges) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Oct. 31, 2012 | ||
Derivative [Line Items] | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | ($3,634,000) | [1] | |
Interest rate cap | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 500,000,000 | ||
Derivative, Cap Interest Rate | 1.00% | ||
Interest rate swap | |||
Derivative [Line Items] | |||
Derivative, Variable Interest Rate | 2.00% | ||
Derivative, Notional Amount | 27,456,000 | ||
Notional Amount | 28,000,000 | ||
Derivative, Fixed Interest Rate | 3.47% | ||
Terminated Interest Rate Swap | |||
Derivative [Line Items] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 100,000 | ||
Interest rate swaps | |||
Derivative [Line Items] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $700,000 | ||
[1] | For the year ended December 31, 2014, $3,634 is included in "Other expense" on the Company's Consolidated Statements of Operations (see Note 10) and $420 is included in "Earnings from equity method investments" on the Company's Consolidated Statements of Operations. Included in "Interest expense" on the Company's Consolidated Statements of Operations are $62, $310 and $(44) for years ended December 31, 2014, 2013 and 2012, respectively. |
Risk_Management_and_Derivative6
Risk Management and Derivatives (Notional Amounts) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Oct. 31, 2012 |
Sells INR/Buys USD Forward | ||
Derivative [Line Items] | ||
Maturity | 30-Jun-15 | |
Sells euro (EUR)/Buys USD Forward | ||
Derivative [Line Items] | ||
Maturity | 7-Jan-15 | |
Sells pound sterling (GBP)/Buys USD Forward | ||
Derivative [Line Items] | ||
Maturity | 7-Jan-15 | |
Sells Canadian dollar (CAD)/Buys USD Forward | ||
Derivative [Line Items] | ||
Maturity | 7-Jan-15 | |
Interest rate cap | ||
Derivative [Line Items] | ||
Fixed Rate | 1.00% | |
Interest rate swap | ||
Derivative [Line Items] | ||
Notional Amount | $28 | |
Fixed Rate | 3.47% |
Risk_Management_and_Derivative7
Risk Management and Derivatives (Credit Risk-Related Contingent Features) (Details) (Forward Contracts, USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Forward Contracts | ||
Derivative [Line Items] | ||
Collateral Posted For Hedges | $3 | $7.20 |
Risk_Management_and_Derivative8
Risk Management and Derivatives (Risk Concentration) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
CALIFORNIA | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 14.60% |
NEW YORK | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 13.90% |
Land | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 21.70% |
Commercial Entertainment and Leisure Real Estate | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 11.00% |
Commercial Office Real Estate | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 26.70% |
Mixed Use Collateral | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 13.00% |
Customer Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Concentration Risk Number of Large Borrowers or Tenants | 5 |
Revenue Accounted by Large Borrowers or Tenants | 115 |
Concentration risk percentage of revenue | 6.00% |
Geographic Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 10.00% |
Equity_Preferred_Stock_Details
Equity (Preferred Stock) (Details) (USD $) | 12 Months Ended | |||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 25,800 | 25,800 | ||
Number of days in year used in the computation of preferred stock dividends for any partial dividend period | 360 days | 360 days | ||
Number of months used in the computation of preferred stock dividends for any partial dividend period | 12 months | 12 months | ||
Number of days in month, dividends computation of dividends payable for any partial dividend period | 30 days | 30 days | ||
Amount of preferred dividends in arrears | $0 | |||
Maximum | ||||
Class of Stock [Line Items] | ||||
Number of days prior to dividend payment date that Board of Directors may elect to designate as the payment date | 30 days | 30 days | ||
Minimum | ||||
Class of Stock [Line Items] | ||||
Number of days prior to dividend payment date that Board of Directors may elect to designate as the payment date | 10 days | 10 days | ||
Series D | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 4,000 | 4,000 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | 25 | [1],[2] |
Rate per Annum | 8.00% | [1],[2] | 8.00% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $2 | [1],[2] | 2 | [1],[2] |
Dividends declared and paid | 8,000,000 | 8,000,000 | ||
Series E | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 5,600 | 5,600 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | 25 | [1],[2] |
Rate per Annum | 7.88% | [1],[2] | 7.88% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $1.97 | [1],[2] | 1.97 | [1],[2] |
Dividends declared and paid | 11,000,000 | 11,000,000 | ||
Series F | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 4,000 | 4,000 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | 25 | [1],[2] |
Rate per Annum | 7.80% | [1],[2] | 7.80% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $1.95 | [1],[2] | 1.95 | [1],[2] |
Dividends declared and paid | 7,800,000 | 7,800,000 | ||
Series G | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 3,200 | 3,200 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | 25 | [1],[2] |
Rate per Annum | 7.65% | [1],[2] | 7.65% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $1.91 | [1],[2] | 1.91 | [1],[2] |
Dividends declared and paid | 6,100,000 | 6,100,000 | ||
Series I | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 5,000 | 5,000 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $25 | [1],[2] | 25 | [1],[2] |
Rate per Annum | 7.50% | [1],[2] | 7.50% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $1.88 | [1],[2] | 1.88 | [1],[2] |
Dividends declared and paid | 9,400,000 | 9,400,000 | ||
Series J | ||||
Class of Stock [Line Items] | ||||
Shares Issued and Outstanding (in thousands) | 4,000 | 4,000 | ||
Par Value (in dollars per share) | $0.00 | 0.001 | ||
Liquidation Preference (in dollars per share) | $50 | [1],[2] | 50 | [1],[2] |
Rate per Annum | 4.50% | [1],[2] | 4.50% | [1],[2] |
Equivalent to Fixed Annual Rate (per share) | $2.25 | [1],[2] | 2.25 | [1],[2] |
Dividends declared and paid | $9,000,000 | 6,700,000 | ||
[1] | The Company declared and paid dividends of $8.0 million, $11.0 million, $7.8 million, $6.1 million and $9.4 million on its Series D, E, F, G and I Cumulative Redeemable Preferred Stock during the years ended December 31, 2014 and 2013. The Company declared and paid dividends of $9.0 million and $6.7 million on its Series J Convertible Perpetual Preferred Stock during the years ended December 31, 2014 and 2013, respectively. All of the dividends qualified as return of capital for tax reporting purposes. There are no dividend arrearages on any of the preferred shares currently outstanding. | |||
[2] | Holders of shares of the Series D, E, F, G, I and J preferred stock are entitled to receive dividends, when and as declared by the Board of Directors, out of funds legally available for the payment of dividends. Dividends are cumulative from the date of original issue and are payable quarterly in arrears on or before the 15th day of each March, June, September and December or, if not a business day, the next succeeding business day. Any dividend payable on the preferred stock for any partial dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends will be payable to holders of record as of the close of business on the first day of the calendar month in which the applicable dividend payment date falls or on another date designated by the Board of Directors of the Company for the payment of dividends that is not more than 30 nor less than 10 days prior to the dividend payment date. |
Equity_Dividends_Details
Equity (Dividends) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Dividends [Abstract] | ||
Minimum percentage of taxable income (excluding net capital gains) to be distributed in order to qualify as REIT | 90.00% | |
Percentage of taxable income (including net capital gains) to be distributed in order to qualify as REIT | 100.00% | |
Operating loss carryforwards | $759.80 |
Equity_Stock_Repurchase_Progra
Equity (Stock Repurchase Program) (Details) (USD $) | 12 Months Ended | ||
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2014 | Sep. 30, 2013 |
Stock Repurchase Program | |||
Repurchase of common stock, authorized amount | $50,000,000 | ||
Available repurchase of common stock, authorized amount | 29,000,000 | ||
Treasury stock, shares, acquired | 1.7 | ||
Treasury stock value acquired including acquisition costs | $21,000,000 | ||
Treasury stock acquired, average cost per share | $12.35 |
Equity_Accumulated_Other_Compr
Equity (Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accumulated other comprehensive income (loss) reflected in the Company's shareholders' equity | ||
Unrealized gains (losses) on available-for-sale securities | $2,983 | ($294) |
Unrealized gains (losses) on cash flow hedges | -409 | 662 |
Unrealized losses on cumulative translation adjustment | -3,545 | -4,644 |
Accumulated other comprehensive income (loss) | ($971) | ($4,276) |
Equity_High_Performance_Unit_P
Equity (High Performance Unit Program) (Details) (USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 |
plan | |
High Performance Unit Program | |
Stock Performance Award Program [Line Items] | |
Stock performance award initial purchase price of participant interest | $9.80 |
Stock performance award, number of plans, not meet performance thresholds | 4 |
HPU | |
Stock Performance Award Program [Line Items] | |
Stock performance award, number of voting rights per share | 0.25 |
Employee Stock Performance Award Participant | High Performance Unit Program | |
Stock Performance Award Program [Line Items] | |
Stock performance award, number of plans, exceeded performance thresholds | 3 |
Employee Stock Performance Award Participant | HPU | High Performance Unit Program 2002 Plan [Member] | |
Stock Performance Award Program [Line Items] | |
Stock performance award common stock shares basis for distribution calculation | 819,254 |
Stock performance award, shares outstanding, number | 5,000 |
Employee Stock Performance Award Participant | HPU | High Performance Unit Program 2003 Plan | |
Stock Performance Award Program [Line Items] | |
Stock performance award common stock shares basis for distribution calculation | 987,149 |
Stock performance award, shares outstanding, number | 5,000 |
Employee Stock Performance Award Participant | HPU | High Performance Unit Program 2004 Plan | |
Stock Performance Award Program [Line Items] | |
Stock performance award common stock shares basis for distribution calculation | 1,031,875 |
Stock performance award, shares outstanding, number | 5,000 |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans and Employee Benefits (Stock-based Compensation) (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Feb. 28, 2013 | Jan. 10, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $13,314,000 | $19,261,000 | $15,293,000 | |||
Unrecognized compensation cost | 2,200,000 | |||||
Weighted-average period to recognize the unrecognized compensation cost | 1 year 5 months 1 day | |||||
Deferred compensation share-based arrangements, liability, current and noncurrent | 8,700,000 | |||||
2013 Performance Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of Points Issued | 83 | |||||
Restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 39,200,000 | 31,600,000 | 29,100,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Number of Shares, Non-vested at December 31, 2013 | 2,779,000 | 2,779,000 | ||||
Granted, Number of Shares | 306,000 | |||||
Vested, Number of Shares | -2,757,000 | |||||
Forfeited, Number of Shares | -8,000 | |||||
Number of Shares, Non-vested at December 31, 2014 | 320,000 | 2,779,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Weighted Average Grant Date Fair Value Per Share,Non-vested at December 31, 2013 | $5.85 | 5.85 | ||||
Granted, Weighted Average Grant Date Fair Value Per Share | $15.31 | |||||
Vested, Weighted Average Grant Date Fair Value Per Share | $6.09 | |||||
Forfeited, Weighted Average Grant Date Fair Value Per Share | $15.69 | |||||
Weighted Average Grant Date Fair Value Per Share,Non-vested at December 31, 2014 | $12.57 | $5.85 | ||||
Non-vested at December 31, 2013, Aggregate Intrinsic Value | 39,659,000 | 39,659,000 | ||||
Non-vested at December 31, 2014, Aggregate Intrinsic Value | 4,367,000 | 39,659,000 | ||||
Long-term Incentive Plan 2009 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award Additional Number of Shares that Can be Authorized | 500,000 | |||||
Long-term Incentive Plan 2006 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,550,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Reserved for Grants of Options | 1,000,000 | |||||
Long-term Incentive Plan 2006 and 2009 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares available for issuance | 4,000,000 | |||||
Employees | Restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -2,757,427 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Restricted shares awarded | 1,369,809 | |||||
Employees | Amended restricted stock units vesting on January 1, 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -1,696,053 | |||||
Employees | Service-based restricted stock units vesting on March 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -80,000 | |||||
Employees | Common Stock Subject to Sales Restriction | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -235,414 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Weighted Average Grant Date Fair Value Per Share,Non-vested at December 31, 2014 | $14.89 | |||||
Non-vested at December 31, 2014, Aggregate Intrinsic Value | $3,500,000 | |||||
Restricted shares awarded | 132,653 | |||||
Employees | Common Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Sale restriction period | 2 years | |||||
Employees | Service-based restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Number of Shares, Non-vested at December 31, 2014 | 64,552 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Granted units | 67,637 | |||||
Employees | Performance-based restricted stock units vesting on December 31, 2016 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Number of Shares, Non-vested at December 31, 2014 | 50,116 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Granted units | 51,726 | |||||
Risk-free interest rate | 0.76% | |||||
Expected stock price volatility | 44.84% | |||||
Employees | Performance-based restricted stock units vesting on December 31, 2016 | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting percentage | 0.00% | |||||
Employees | Performance-based restricted stock units vesting on December 31, 2016 | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting percentage | 200.00% | |||||
Employees | Service-based restricted stock units vesting on February 1, 2016 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Number of Shares, Non-vested at December 31, 2014 | 194,582 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting term | 3 years | |||||
Employees | Performance based restricted stock units vesting on December 31, 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -381,374 | |||||
Employees | Performance-based restricted stock units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting percentage | 195.50% | |||||
Employees | Performance-based restricted stock units | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting percentage | 0.00% | |||||
Employees | Performance-based restricted stock units | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting percentage | 200.00% | |||||
Employees | Service based restricted stock units with specified vesting dates | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Number of Shares, Non-vested at December 31, 2014 | 10,666 | |||||
Employees | Service based restricted stock units with specified vesting dates | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||||
Vesting term | 3 years | |||||
Company's chairman and chief executive officer | Service-based restricted stock units vesting on June 15, 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -600,000 | |||||
Original Awards [Member] | Employees | Performance based restricted stock units vesting on December 31, 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -195,076 | |||||
Additional Awards [Member] | Employees | Performance based restricted stock units vesting on December 31, 2014 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||
Vested, Number of Shares | -186,298 |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans and Employee Benefits (Directors' Awards) (Details) (USD $) | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Restricted Stock Units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Number of Shares | 306,000 | |
Non-vested, outstanding (in shares) | 320,000 | 2,779,000 |
Directors | Common Stock Equivalent | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Number of Shares | 8,602 | |
Directors | Restricted Stock Units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Number of Shares | 39,570 | |
Directors | CSE and restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options, grants in period, weighted average grant date fair value (per share) | 14.46 | |
Non-vested, outstanding (in shares) | 278,471 | |
Aggregate intrinsic value for directors | 3.8 | |
Former director | CSE and restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued for settlement (in shares) | 55,076 |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans and Employee Benefits (401(k) Plan) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Defined contribution plan, service requirement | 3 months | ||
Gross contributions made by the Company | $0.90 | $0.90 | $0.90 |
Defined contribution plan maximum percentage Of matching contribution | 50.00% | ||
Defined contribution plan maximum percentage Of employee compensation | 10.00% |
Earnings_Per_Share_Schedule_of
Earnings Per Share (Schedule of Earnings Per Share) (Details 1) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Anti-dilutive shares | ||||||
Income (loss) from continuing operations | ($74,178) | [1] | ($220,768) | [1] | ($314,678) | [1] |
Net (income) loss attributable to noncontrolling interests | 704 | -718 | 1,500 | |||
Income from sales of real estate | 89,943 | 86,658 | 63,472 | |||
Preferred dividends | 51,320 | 49,020 | 42,320 | |||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders | ($34,851) | ($183,848) | ($292,026) | |||
[1] | Income (loss) from continuing operations attributable to iStar Financial Inc. was $(73.5) million, $(221.5) million and $(313.2) million for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 13 for details on the calculation of earnings per share. |
Earnings_Per_Share_Schedule_of1
Earnings Per Share (Schedule of Earnings Per Share) (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Numerator for basic and diluted earnings per share: | ||||||||||||||
Gain from discontinued operations | $0 | $22,233 | $27,257 | |||||||||||
Denominator for basic and diluted earnings per share: | ||||||||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 85,031 | [1] | 84,990 | [1] | 83,742 | [1] | ||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | [1],[2] | 15 | [1],[2] | 15 | [1],[2] | ||||||||
Basic earnings per share: | ||||||||||||||
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) | ($0.40) | [1] | ($2.09) | [1] | ($3.37) | [1] | ||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($0.40) | [1] | ($1.83) | [1] | ($3.26) | [1] | ||||||||
Common Stock | ||||||||||||||
Denominator for basic and diluted earnings per share: | ||||||||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 85,031 | 84,990 | 83,742 | |||||||||||
Basic earnings per share: | ||||||||||||||
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) | ($0.40) | ($2.09) | ($3.37) | |||||||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic and Diluted Share | $0 | $0.01 | ($0.20) | |||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Basic and Diluted Share | $0 | $0.25 | $0.31 | |||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($0.40) | ($1.83) | ($3.26) | |||||||||||
HPU's | ||||||||||||||
Denominator for basic and diluted earnings per share: | ||||||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | |||||||||||
Basic and Diluted | Common Stock | ||||||||||||||
Numerator for basic and diluted earnings per share: | ||||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | -33,722 | -177,907 | -282,452 | |||||||||||
Income (loss) from discontinued operations | 0 | 623 | -16,908 | |||||||||||
Gain from discontinued operations | 0 | 21,515 | 26,363 | |||||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | -33,722 | -155,769 | -272,997 | |||||||||||
Denominator for basic and diluted earnings per share: | ||||||||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 84,617 | 85,392 | 85,125 | 84,824 | ||||||||||
Basic earnings per share: | ||||||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | -0.68 | -0.36 | -0.31 | -0.49 | ||||||||||
Basic and Diluted | HPU's | ||||||||||||||
Numerator for basic and diluted earnings per share: | ||||||||||||||
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | -1,129 | -5,941 | -9,574 | |||||||||||
Income (loss) from discontinued operations | 0 | 21 | -573 | |||||||||||
Gain from discontinued operations | 0 | 718 | 894 | |||||||||||
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | ($1,129) | ($5,202) | ($9,253) | |||||||||||
Denominator for basic and diluted earnings per share: | ||||||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | ||||||
Basic earnings per share: | ||||||||||||||
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) | ($75.27) | ($396.07) | ($638.27) | |||||||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic and Diluted Share | $0 | $1.40 | ($38.20) | |||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Basic and Diluted Share | $0 | $47.87 | $59.60 | |||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($75.27) | ($346.80) | ($616.87) | |||||||||||
[1] | Income (loss) from continuing operations attributable to iStar Financial Inc. was $(73.5) million, $(221.5) million and $(313.2) million for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 13 for details on the calculation of earnings per share. | |||||||||||||
[2] | HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program. |
Earnings_Per_Share_Antidilutiv
Earnings Per Share (Anti-dilutive Shares) (Details) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Joint venture shares | ||||||
Anti-dilutive shares | ||||||
Anti-dilutive shares | 298 | [1] | 298 | [1] | 298 | [1] |
3.00% convertible senior unsecured notes | ||||||
Anti-dilutive shares | ||||||
Anti-dilutive shares | 16,992 | [1] | 16,992 | [1] | 0 | [1] |
Series J convertible perpetual preferred stock | ||||||
Anti-dilutive shares | ||||||
Anti-dilutive shares | 15,635 | [1] | 15,635 | [1] | 0 | [1] |
1.50% convertible senior unsecured notes | ||||||
Anti-dilutive shares | ||||||
Anti-dilutive shares | 11,567 | [1] | 11,567 | [1] | 0 | [1] |
[1] | For the years ended December 31, 2014, 2013 and 2012, the effect of the Company's unvested Units, performance-based Units and CSEs were anti-dilutive. |
Fair_Values_Schedule_of_Fair_V
Fair Values (Schedule of Fair Value Measurement) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Recurring basis | Quoted market prices in active markets (Level 1) | |||
Assets and liabilities recorded at fair value | |||
Derivative assets | $0 | $0 | |
Derivative liabilities | 0 | 0 | |
Available-for-sale Securities | 7,906 | 505 | |
Recurring basis | Significant other observable inputs (Level 2) | |||
Assets and liabilities recorded at fair value | |||
Derivative assets | 6,361 | 11,175 | |
Derivative liabilities | 478 | 1,653 | |
Available-for-sale Securities | 0 | 0 | |
Recurring basis | Significant unobservable inputs (Level 3) | |||
Assets and liabilities recorded at fair value | |||
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | |
Non-recurring basis | Quoted market prices in active markets (Level 1) | |||
Assets and liabilities recorded at fair value | |||
Impaired loans | 0 | 0 | |
Impaired real estate | 0 | 0 | |
Non-recurring basis | Significant other observable inputs (Level 2) | |||
Assets and liabilities recorded at fair value | |||
Impaired loans | 0 | 0 | |
Impaired real estate | 0 | 5,744 | |
Non-recurring basis | Significant unobservable inputs (Level 3) | |||
Assets and liabilities recorded at fair value | |||
Impaired loans | 37,169 | [1] | 115,423 |
Impaired real estate | 7,102 | [2] | 29,936 |
Total | Recurring basis | |||
Assets and liabilities recorded at fair value | |||
Derivative assets | 6,361 | 11,175 | |
Derivative liabilities | 478 | 1,653 | |
Available-for-sale Securities | 7,906 | 505 | |
Total | Non-recurring basis | |||
Assets and liabilities recorded at fair value | |||
Impaired loans | 37,169 | [1] | 115,423 |
Impaired real estate | $7,102 | [2] | $35,680 |
[1] | The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.50 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. | ||
[2] | The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term. |
Fair_Values_Schedule_of_Fair_V1
Fair Values (Schedule of Fair Value Measurement Assumptions) (Details) (Non-recurring basis, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | |
Loan | |||
Loans Receivable One | Discounted Cash Flow | |||
Quantitative information about Level 3 fair value measures | |||
Number of impaired loans | 1 | ||
Impaired loans | $8,500 | ||
Fair value assumptions, expected term | 1 year 6 months | ||
Weighted average discount rate | 4.70% | ||
Loans Receivable Two | Discounted Cash Flow | |||
Quantitative information about Level 3 fair value measures | |||
Number of impaired loans | 1 | ||
Impaired loans | 5,200 | ||
Loans Receivable Three [Member] | Executed Foreclosure Sale Agreement [Member] | |||
Quantitative information about Level 3 fair value measures | |||
Number of impaired loans | 1 | ||
Impaired loans | 23,500 | ||
Land | Discounted Cash Flow | |||
Quantitative information about Level 3 fair value measures | |||
Number of impaired real estate assets | 1 | ||
Weighted average discount rate | 15.00% | ||
Impaired real estate | 7,100 | [1] | |
Fair Value Assumptions, Expected Term | 10 years | ||
Significant unobservable inputs (Level 3) | |||
Quantitative information about Level 3 fair value measures | |||
Impaired loans | 37,169 | [2] | 115,423 |
Impaired real estate | $7,102 | [1] | $29,936 |
[1] | The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term. | ||
[2] | The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.50 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. |
Fair_Values_Narrative_Details
Fair Values (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financial assets: | ||||
Loans receivable and other lending investments, net | $1,377,843 | [1] | $1,370,109 | [1] |
Financial liabilities: | ||||
Debt obligations, net | 4,022,684 | 4,158,125 | ||
Fair Value | ||||
Financial assets: | ||||
Loans receivable and other lending investments, net | 1,400,000 | 1,400,000 | ||
Financial liabilities: | ||||
Debt obligations, net | $4,100,000 | $4,500,000 | ||
[1] | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. |
Segment_Reporting_Schedule_of_
Segment Reporting (Schedule of Segments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
segments | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Number of reportable segments | 4 | |||||||||||||||
Operating lease income | $243,100 | $234,567 | $216,291 | |||||||||||||
Interest income | 122,704 | 108,015 | 133,410 | |||||||||||||
Other income | 81,033 | 48,208 | 47,838 | |||||||||||||
Land sales revenue | 15,191 | 0 | 0 | |||||||||||||
Total revenues | 109,950 | 113,486 | 129,843 | 108,749 | 101,073 | 95,696 | 99,919 | 94,102 | 462,028 | 390,790 | 397,539 | |||||
Earnings (loss) from equity method investments | 94,905 | 41,520 | 103,009 | |||||||||||||
Income from sales of real estate | 89,943 | 86,658 | 63,472 | |||||||||||||
Income (loss) from discontinued operations | 2,735 | [1] | 8,175 | [1] | ||||||||||||
Gain from discontinued operations | 0 | 22,233 | 27,257 | |||||||||||||
Revenue and other earnings | 646,876 | 543,936 | 599,452 | |||||||||||||
Real estate expense | -163,389 | -157,441 | -151,458 | |||||||||||||
Land cost of sales | -12,840 | 0 | 0 | |||||||||||||
Other expense | -5,821 | -8,050 | -17,266 | |||||||||||||
Allocated interest expense | -224,483 | -266,225 | [2] | -356,161 | [2] | |||||||||||
Allocated general and administrative | -75,492 | [3] | -72,853 | [3] | -65,563 | [3] | ||||||||||
Segment profit (loss) | 164,851 | [4] | 39,367 | [4] | 9,004 | [4] | ||||||||||
Provision for (recovery of) loan losses | -1,714 | [5] | 5,489 | [5] | 81,740 | [5] | ||||||||||
Impairment of assets | 34,634 | 14,353 | [2] | 36,354 | [2] | |||||||||||
Loss on transfer of interest to unconsolidated subsidiary | 0 | 7,373 | 0 | |||||||||||||
Depreciation and amortization | 73,571 | 71,530 | [2] | 70,786 | [2] | |||||||||||
Capitalized expenditures | 145,238 | 111,553 | 83,070 | |||||||||||||
Real estate, net | 2,676,714 | 2,796,181 | 2,676,714 | 2,796,181 | ||||||||||||
Real estate available and held for sale | 285,982 | 360,517 | 285,982 | 360,517 | ||||||||||||
Total real estate | 2,962,696 | 3,156,698 | 2,962,696 | 3,156,698 | ||||||||||||
Loans receivable and other lending investments, net | 1,377,843 | [6] | 1,370,109 | [6] | 1,377,843 | [6] | 1,370,109 | [6] | ||||||||
Other investments | 354,119 | 207,209 | 354,119 | 207,209 | ||||||||||||
Total portfolio assets | 4,694,658 | 4,734,016 | 4,694,658 | 4,734,016 | ||||||||||||
Cash and other assets | 768,475 | 907,995 | 768,475 | 907,995 | ||||||||||||
Total assets | 5,463,133 | 5,642,011 | 5,463,133 | 5,642,011 | ||||||||||||
Stock-based compensation expense | 13,314 | 19,261 | 15,293 | |||||||||||||
Operating Segments | Real Estate Finance | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Operating lease income | 0 | 0 | 0 | |||||||||||||
Interest income | 122,704 | 108,015 | 133,410 | |||||||||||||
Other income | 21,217 | 4,748 | 8,613 | |||||||||||||
Land sales revenue | 0 | |||||||||||||||
Total revenues | 143,921 | 112,763 | 142,023 | |||||||||||||
Earnings (loss) from equity method investments | 0 | 0 | 0 | |||||||||||||
Income from sales of real estate | 0 | 0 | 0 | |||||||||||||
Income (loss) from discontinued operations | 0 | [1] | 0 | [1] | ||||||||||||
Gain from discontinued operations | 0 | 0 | ||||||||||||||
Revenue and other earnings | 143,921 | 112,763 | 142,023 | |||||||||||||
Real estate expense | 0 | 0 | 0 | |||||||||||||
Land cost of sales | 0 | |||||||||||||||
Other expense | -243 | -1,625 | -4,775 | |||||||||||||
Allocated interest expense | -58,043 | -74,377 | [2] | -111,898 | [2] | |||||||||||
Allocated general and administrative | -13,314 | [3] | -13,186 | [3] | -14,263 | [3] | ||||||||||
Segment profit (loss) | 72,321 | [4] | 23,575 | [4] | 11,087 | [4] | ||||||||||
Provision for (recovery of) loan losses | -1,714 | 5,489 | 81,740 | |||||||||||||
Impairment of assets | 0 | 0 | [2] | 0 | [2] | |||||||||||
Loss on transfer of interest to unconsolidated subsidiary | 0 | |||||||||||||||
Depreciation and amortization | 0 | 0 | [2] | 0 | [2] | |||||||||||
Capitalized expenditures | 0 | 0 | 0 | |||||||||||||
Real estate, net | 0 | 0 | 0 | 0 | ||||||||||||
Real estate available and held for sale | 0 | 0 | 0 | 0 | ||||||||||||
Total real estate | 0 | 0 | 0 | 0 | ||||||||||||
Loans receivable and other lending investments, net | 1,377,843 | 1,370,109 | 1,377,843 | 1,370,109 | ||||||||||||
Other investments | 0 | 0 | 0 | 0 | ||||||||||||
Total portfolio assets | 1,377,843 | 1,370,109 | 1,377,843 | 1,370,109 | ||||||||||||
Operating Segments | Net Lease | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Operating lease income | 151,934 | 147,313 | 149,058 | |||||||||||||
Interest income | 0 | 0 | 0 | |||||||||||||
Other income | 4,437 | 250 | 0 | |||||||||||||
Land sales revenue | 0 | |||||||||||||||
Total revenues | 156,371 | 147,563 | 149,058 | |||||||||||||
Earnings (loss) from equity method investments | 3,260 | 2,699 | 2,632 | |||||||||||||
Income from sales of real estate | 6,206 | 0 | 0 | |||||||||||||
Income (loss) from discontinued operations | 1,484 | [1] | 7,289 | [1] | ||||||||||||
Gain from discontinued operations | 3,395 | 27,257 | ||||||||||||||
Revenue and other earnings | 165,837 | 155,141 | 186,236 | |||||||||||||
Real estate expense | -22,967 | -22,565 | -23,886 | |||||||||||||
Land cost of sales | 0 | |||||||||||||||
Other expense | 0 | 0 | 0 | |||||||||||||
Allocated interest expense | -72,089 | -80,034 | [2] | -92,579 | [2] | |||||||||||
Allocated general and administrative | -16,736 | [3] | -14,330 | [3] | -10,618 | [3] | ||||||||||
Segment profit (loss) | 54,045 | [4] | 38,212 | [4] | 59,153 | [4] | ||||||||||
Provision for (recovery of) loan losses | 0 | 0 | 0 | |||||||||||||
Impairment of assets | 3,689 | 1,176 | [2] | 6,670 | [2] | |||||||||||
Loss on transfer of interest to unconsolidated subsidiary | 0 | |||||||||||||||
Depreciation and amortization | 38,841 | 38,582 | [2] | 39,250 | [2] | |||||||||||
Capitalized expenditures | 3,933 | 34,076 | 10,994 | |||||||||||||
Real estate, net | 1,188,160 | 1,358,248 | 1,188,160 | 1,358,248 | ||||||||||||
Real estate available and held for sale | 4,521 | 0 | 4,521 | 0 | ||||||||||||
Total real estate | 1,192,681 | 1,358,248 | 1,192,681 | 1,358,248 | ||||||||||||
Loans receivable and other lending investments, net | 0 | 0 | 0 | 0 | ||||||||||||
Other investments | 125,360 | 16,408 | 125,360 | 16,408 | ||||||||||||
Total portfolio assets | 1,318,041 | 1,374,656 | 1,318,041 | 1,374,656 | ||||||||||||
Operating Segments | Operating Properties | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Operating lease income | 90,331 | 86,352 | 65,706 | |||||||||||||
Interest income | 0 | 0 | 0 | |||||||||||||
Other income | 42,000 | 38,164 | 32,615 | |||||||||||||
Land sales revenue | 0 | |||||||||||||||
Total revenues | 132,331 | 124,516 | 98,321 | |||||||||||||
Earnings (loss) from equity method investments | 1,669 | 5,546 | 25,142 | |||||||||||||
Income from sales of real estate | 83,737 | 82,603 | 63,472 | |||||||||||||
Income (loss) from discontinued operations | 1,251 | [1] | 886 | [1] | ||||||||||||
Gain from discontinued operations | 18,838 | 0 | ||||||||||||||
Revenue and other earnings | 217,737 | 232,754 | 187,821 | |||||||||||||
Real estate expense | -113,504 | -101,044 | -100,258 | |||||||||||||
Land cost of sales | 0 | |||||||||||||||
Other expense | 0 | 0 | 0 | |||||||||||||
Allocated interest expense | -39,535 | -49,114 | [2] | -69,259 | [2] | |||||||||||
Allocated general and administrative | -9,684 | [3] | -9,189 | [3] | -7,572 | [3] | ||||||||||
Segment profit (loss) | 55,014 | [4] | 73,407 | [4] | 10,732 | [4] | ||||||||||
Provision for (recovery of) loan losses | 0 | 0 | 0 | |||||||||||||
Impairment of assets | 8,131 | 12,449 | [2] | 28,501 | [2] | |||||||||||
Loss on transfer of interest to unconsolidated subsidiary | 0 | |||||||||||||||
Depreciation and amortization | 32,142 | 30,599 | [2] | 28,450 | [2] | |||||||||||
Capitalized expenditures | 61,186 | 41,131 | 51,579 | |||||||||||||
Real estate, net | 628,271 | 638,088 | 628,271 | 638,088 | ||||||||||||
Real estate available and held for sale | 162,782 | 228,328 | 162,782 | 228,328 | ||||||||||||
Total real estate | 791,053 | 866,416 | 791,053 | 866,416 | ||||||||||||
Loans receivable and other lending investments, net | 0 | 0 | 0 | 0 | ||||||||||||
Other investments | 13,220 | 16,032 | 13,220 | 16,032 | ||||||||||||
Total portfolio assets | 804,273 | 882,448 | 804,273 | 882,448 | ||||||||||||
Operating Segments | Land | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Operating lease income | 835 | 902 | 1,527 | |||||||||||||
Interest income | 0 | 0 | 0 | |||||||||||||
Other income | 3,327 | 1,474 | 2,635 | |||||||||||||
Land sales revenue | 15,191 | |||||||||||||||
Total revenues | 19,353 | 2,376 | 4,162 | |||||||||||||
Earnings (loss) from equity method investments | 14,966 | -5,331 | -6,138 | |||||||||||||
Income from sales of real estate | 0 | 4,055 | 0 | |||||||||||||
Income (loss) from discontinued operations | 0 | [1] | 0 | [1] | ||||||||||||
Gain from discontinued operations | 0 | 0 | ||||||||||||||
Revenue and other earnings | 34,319 | 1,100 | -1,976 | |||||||||||||
Real estate expense | -26,918 | -33,832 | -27,314 | |||||||||||||
Land cost of sales | -12,840 | |||||||||||||||
Other expense | 0 | 0 | 0 | |||||||||||||
Allocated interest expense | -29,432 | -30,368 | [2] | -44,125 | [2] | |||||||||||
Allocated general and administrative | -13,170 | [3] | -12,365 | [3] | -7,405 | [3] | ||||||||||
Segment profit (loss) | -48,041 | [4] | -75,465 | [4] | -80,820 | [4] | ||||||||||
Provision for (recovery of) loan losses | 0 | 0 | 0 | |||||||||||||
Impairment of assets | 22,814 | 728 | [2] | 205 | [2] | |||||||||||
Loss on transfer of interest to unconsolidated subsidiary | -7,373 | |||||||||||||||
Depreciation and amortization | 1,440 | 1,105 | [2] | 1,276 | [2] | |||||||||||
Capitalized expenditures | 80,119 | 36,346 | 20,497 | |||||||||||||
Real estate, net | 860,283 | 799,845 | 860,283 | 799,845 | ||||||||||||
Real estate available and held for sale | 118,679 | 132,189 | 118,679 | 132,189 | ||||||||||||
Total real estate | 978,962 | 932,034 | 978,962 | 932,034 | ||||||||||||
Loans receivable and other lending investments, net | 0 | 0 | 0 | 0 | ||||||||||||
Other investments | 106,155 | 29,765 | 106,155 | 29,765 | ||||||||||||
Total portfolio assets | 1,085,117 | 961,799 | 1,085,117 | 961,799 | ||||||||||||
Corporate, Non-Segment | Corporate/Other | ||||||||||||||||
Segment Reporting | ||||||||||||||||
Operating lease income | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Interest income | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Other income | 10,052 | [7] | 3,572 | [7] | 3,975 | [7] | ||||||||||
Land sales revenue | 0 | [7] | ||||||||||||||
Total revenues | 10,052 | [7] | 3,572 | [7] | 3,975 | [7] | ||||||||||
Earnings (loss) from equity method investments | 75,010 | [7] | 38,606 | [7] | 81,373 | [7] | ||||||||||
Income from sales of real estate | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Income (loss) from discontinued operations | 0 | [1],[7] | 0 | [1],[7] | ||||||||||||
Gain from discontinued operations | 0 | [7] | 0 | [7] | ||||||||||||
Revenue and other earnings | 85,062 | [7] | 42,178 | [7] | 85,348 | [7] | ||||||||||
Real estate expense | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Land cost of sales | 0 | [7] | ||||||||||||||
Other expense | -5,578 | [7] | -6,425 | [7] | -12,491 | [7] | ||||||||||
Allocated interest expense | -25,384 | [7] | -32,332 | [2],[7] | -38,300 | [2],[7] | ||||||||||
Allocated general and administrative | -22,588 | [3],[7] | -23,783 | [3],[7] | -25,705 | [3],[7] | ||||||||||
Segment profit (loss) | 31,512 | [4],[7] | -20,362 | [4],[7] | 8,852 | [4],[7] | ||||||||||
Provision for (recovery of) loan losses | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Impairment of assets | 0 | [7] | 0 | [2],[7] | 978 | [2],[7] | ||||||||||
Loss on transfer of interest to unconsolidated subsidiary | 0 | [7] | ||||||||||||||
Depreciation and amortization | 1,148 | [7] | 1,244 | [2],[7] | 1,810 | [2],[7] | ||||||||||
Capitalized expenditures | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||||
Real estate, net | 0 | [7] | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||
Real estate available and held for sale | 0 | [7] | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||
Total real estate | 0 | [7] | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||
Loans receivable and other lending investments, net | 0 | [7] | 0 | [7] | 0 | [7] | 0 | [7] | ||||||||
Other investments | 109,384 | [7] | 145,004 | [7] | 109,384 | [7] | 145,004 | [7] | ||||||||
Total portfolio assets | $109,384 | [7] | $145,004 | [7] | $109,384 | [7] | $145,004 | [7] | ||||||||
[1] | For the years ended December 31, 2013 and 2012, excludes certain amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. | |||||||||||||||
[2] | For the years ended December 31, 2013 and 2012, includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. | |||||||||||||||
[3] | General and administrative excludes stock-based compensation expense of $13.3 million, $19.3 million and $15.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||
[4] | The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Years Ended December 31, 2014 2013 2012Segment profit (loss)$164,851 $39,367 $9,004Less: (Provision for) recovery of loan losses1,714 (5,489) (81,740)Less: Impairment of assets(4)(34,634) (14,353) (36,354)Less: Loss on transfer of interest to unconsolidated subsidiary— (7,373) —Less: Stock-based compensation expense(13,314) (19,261) (15,293)Less: Depreciation and amortization(4)(73,571) (71,530) (70,786)Less: Income tax (expense) benefit(4)(3,912) 596 (8,445)Less: Loss on early extinguishment of debt, net(25,369) (33,190) (37,816)Net income (loss)$15,765 $(111,233) $(241,430) | |||||||||||||||
[5] | For the years ended December 31, 2014, 2013 and 2012, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $10.1 million, $63.1 million and $4.6 million, respectively. | |||||||||||||||
[6] | The Company's recorded investment in loans as of December 31, 2014 and 2013 also includes accrued interest of $7.0 million and $6.5 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets. | |||||||||||||||
[7] | Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. |
Segment_Reporting_Reconciliati
Segment Reporting (Reconciliation of Segment Profit (Loss)) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Reconciliation of segment profit (loss) to income (loss) from continuing operations | ||||||||||||||
Segment profit (loss) | $164,851 | [1] | $39,367 | [1] | $9,004 | [1] | ||||||||
Less: (Provision for) recovery of loan losses | 1,714 | -5,489 | -81,740 | |||||||||||
Less: Impairment of assets | -34,634 | [2] | -14,353 | [2] | -36,354 | [2] | ||||||||
Less: Loss on transfer of interest to unconsolidated subsidiary | 0 | -7,373 | 0 | |||||||||||
Less: Stock-based compensation expense | -13,314 | -19,261 | -15,293 | |||||||||||
Less: Depreciation and amortization | -73,571 | [2] | -71,530 | [2] | -70,786 | [2] | ||||||||
Less: Income tax (expense) benefit | -3,912 | [2] | 596 | [2] | -8,445 | [2] | ||||||||
Less: Loss on early extinguishment of debt, net | -25,369 | -33,190 | -37,816 | |||||||||||
Net income (loss) | ($1,955) | $35,491 | ($3,594) | ($14,177) | ($45,992) | ($18,590) | ($14,398) | ($32,253) | $15,765 | ($111,233) | ($241,430) | |||
[1] | The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Years Ended December 31, 2014 2013 2012Segment profit (loss)$164,851 $39,367 $9,004Less: (Provision for) recovery of loan losses1,714 (5,489) (81,740)Less: Impairment of assets(4)(34,634) (14,353) (36,354)Less: Loss on transfer of interest to unconsolidated subsidiary— (7,373) —Less: Stock-based compensation expense(13,314) (19,261) (15,293)Less: Depreciation and amortization(4)(73,571) (71,530) (70,786)Less: Income tax (expense) benefit(4)(3,912) 596 (8,445)Less: Loss on early extinguishment of debt, net(25,369) (33,190) (37,816)Net income (loss)$15,765 $(111,233) $(241,430) | |||||||||||||
[2] | For the years ended December 31, 2013 and 2012, includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations. |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Quarterly Financial Information [Line Items] | ||||||||||||||
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | $2 | |||||||||||||
Revenue | 109,950 | 113,486 | 129,843 | 108,749 | 101,073 | 95,696 | 99,919 | 94,102 | 462,028 | 390,790 | 397,539 | |||
Net income (loss) | -1,955 | 35,491 | -3,594 | -14,177 | -45,992 | -18,590 | -14,398 | -32,253 | 15,765 | -111,233 | -241,430 | |||
Net income (loss) attributable to iStar Financial Inc. | 16,469 | -111,951 | -239,930 | |||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($0.40) | [1] | ($1.83) | [1] | ($3.26) | [1] | ||||||||
Earnings Per HPU Share, Basic and Diluted (in dollars per share) | ($75.27) | [1],[2] | ($346.80) | [1],[2] | ($616.87) | [1],[2] | ||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 85,031 | [1] | 84,990 | [1] | 83,742 | [1] | ||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | [1],[2] | 15 | [1],[2] | 15 | [1],[2] | ||||||||
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted | 2 | |||||||||||||
Common Stock | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($0.40) | ($1.83) | ($3.26) | |||||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 85,031 | 84,990 | 83,742 | |||||||||||
HPU | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | |||||||||||
Basic and Diluted | Common Stock | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | -57,934 | -30,571 | -26,001 | -41,263 | ||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($0.68) | ($0.36) | ($0.31) | ($0.49) | ||||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 84,617 | 85,392 | 85,125 | 84,824 | ||||||||||
Basic and Diluted | HPU | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | -1,939 | -1,016 | -866 | -1,381 | ||||||||||
Earnings Per Share, Basic and Diluted (in dollars per share) | ($75.27) | ($346.80) | ($616.87) | |||||||||||
Earnings Per HPU Share, Basic and Diluted (in dollars per share) | ($129.26) | ($67.73) | ($57.74) | ($92.07) | ||||||||||
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | ||||||
Basic | Common Stock | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | -13,270 | 22,327 | -16,207 | -26,572 | ||||||||||
Earnings Per Share, Basic (in dollars per share) | ($0.16) | $0.26 | ($0.19) | ($0.31) | ||||||||||
Weighted Average Number of Shares Outstanding, Basic | 85,188 | 85,163 | 84,916 | 84,819 | ||||||||||
Basic | HPU | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | -442 | 744 | -542 | -889 | ||||||||||
Income (Loss) from Continuing Operations, Per Basic and Diluted Share | ($29.47) | $49.60 | ($36.13) | ($59.27) | ||||||||||
Diluted | Common Stock | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | -13,270 | 27,608 | -16,207 | -26,572 | ||||||||||
Earnings Per Share, Diluted (in dollars per share) | ($0.16) | $0.21 | ($0.19) | ($0.31) | ||||||||||
Weighted Average Number of Shares Outstanding, Diluted | 85,188 | 130,160 | 84,916 | 84,819 | ||||||||||
Diluted | HPU | ||||||||||||||
Quarterly Financial Information [Line Items] | ||||||||||||||
Net income (loss) attributable to iStar Financial Inc. | ($442) | $602 | ($542) | ($889) | ||||||||||
Income (Loss) from Continuing Operations, Per Basic and Diluted Share | ($29.47) | $40.13 | ($36.13) | ($59.27) | ||||||||||
[1] | Income (loss) from continuing operations attributable to iStar Financial Inc. was $(73.5) million, $(221.5) million and $(313.2) million for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 13 for details on the calculation of earnings per share. | |||||||||||||
[2] | HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program. |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts and Reserves (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Balance at Beginning of Period | $439,323 | $570,975 | $701,181 | |||
Charged to Costs and Expenses | -5,886 | -1,277 | -73,835 | |||
Adjustments to Valuation Accounts | 4,302 | 19,855 | -176 | |||
Deductions | -281,285 | -152,784 | -203,865 | |||
Balance at End of Period | 156,454 | 439,323 | 570,975 | |||
Loans Receivable Allowance | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Balance at Beginning of Period | 377,204 | [1],[2] | 524,499 | [1],[2] | 646,624 | [1],[2] |
Charged to Costs and Expenses | 1,714 | [1],[2] | -5,489 | [1],[2] | -81,740 | [1],[2] |
Adjustments to Valuation Accounts | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] |
Deductions | -277,000 | [1],[2] | -152,784 | [1],[2] | -203,865 | [1],[2] |
Balance at End of Period | 98,490 | [1],[2] | 377,204 | [1],[2] | 524,499 | [1],[2] |
Allowance for Doubtful Accounts | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Balance at Beginning of Period | 5,857 | [1] | 5,596 | [1] | 3,668 | [1] |
Charged to Costs and Expenses | 2,074 | [1] | 261 | [1] | 1,928 | [1] |
Adjustments to Valuation Accounts | 0 | [1] | 0 | [1] | 0 | [1] |
Deductions | -4,285 | [1] | 0 | [1] | 0 | [1] |
Balance at End of Period | 3,646 | [1] | 5,857 | [1] | 5,596 | [1] |
Valuation Allowance of Deferred Tax Assets | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Balance at Beginning of Period | 56,262 | [1] | 40,880 | [1] | 50,889 | [1] |
Charged to Costs and Expenses | -6,246 | [1] | -4,473 | [1] | -9,833 | [1] |
Adjustments to Valuation Accounts | 4,302 | [1] | 19,855 | [1] | -176 | [1] |
Deductions | 0 | [1] | 0 | [1] | 0 | [1] |
Balance at End of Period | $54,318 | [1] | $56,262 | [1] | $40,880 | [1] |
[1] | See Note 3 to the Company's Consolidated Financial Statements. | |||||
[2] | See Note 5 to the Company's Consolidated Financial Statements. |
Schedule_III_Real_Estate_and_A1
Schedule III - Real Estate and Accumulated Depreciation (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | $251,150,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,575,297,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,152,990,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -283,611,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,416,905,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,027,771,000 | ||||
Properties Pledged as Collateral Book Value | 381,600,000 | ||||
Aggregate Cost for Federal Income Tax Purposes | 3,780,000,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -481,980,000 | [2] | -432,374,000 | -388,346,000 | -356,810,000 |
SEC Schedule III, Real Estate, Gross | 3,444,676,000 | [2],[3] | 3,589,072,000 | 3,763,310,000 | 3,927,750,000 |
Real Estate Improvements and Additions | 145,238,000 | 126,664,000 | 111,760,000 | ||
SEC Schedule III, Real Estate, Acquisitions Through Foreclosures | 77,867,000 | 31,764,000 | 269,100,000 | ||
SEC Schedule III, Real Estate, Other Acquisitions | 4,666,000 | 69,379,000 | 0 | ||
SEC Schedule III, Real Estate, Cost of Real Estate Sold | -341,453,000 | -388,906,000 | -510,504,000 | ||
Impairment of Real Estate | -30,714,000 | -13,139,000 | -34,796,000 | ||
SEC Schedule III, Real Estate Accumulated Depreciation, Depreciation Expense | -62,299,000 | -59,208,000 | -59,968,000 | ||
SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Sold | 12,693,000 | 15,180,000 | 28,432,000 | ||
Real Estate Asses Held-for-Sale [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate Accumulated Depreciation | -13,100,000 | ||||
Hotel [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 47,039,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 175,803,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,644,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 47,039,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 180,447,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -60,235,000 | ||||
SEC Schedule III, Real Estate, Gross | 227,486,000 | ||||
Hotel [Member] | California HCA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,394,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,030,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -871,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,394,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,159,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -11,311,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 30,553,000 | [4] | |||
Hotel [Member] | California HCA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,308,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,623,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -664,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,308,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,959,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -8,614,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 23,267,000 | [4] | |||
Hotel [Member] | Colorado HCO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,242,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,865,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -253,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,242,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,612,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,278,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 8,854,000 | [4] | |||
Hotel [Member] | Georgia HGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,378,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,514,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 858,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,378,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,372,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,700,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 32,750,000 | ||||
Hotel [Member] | Hawaii HHI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 17,996,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,996,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,573,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,996,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,569,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,531,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 42,565,000 | [4] | |||
Hotel [Member] | Hawaii HHI 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,000,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,000,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,090,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,000,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,090,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,628,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 16,090,000 | ||||
Hotel [Member] | Utah HUT 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,620,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,695,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,058,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,620,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,637,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -13,790,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 37,257,000 | [4] | |||
Hotel [Member] | Washington HWA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,101,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,080,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,031,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,101,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,049,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -13,383,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 36,150,000 | [4] | |||
Commercial Office Real Estate | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 109,881,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 61,597,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 593,276,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 35,978,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 62,604,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 628,247,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -185,440,000 | ||||
SEC Schedule III, Real Estate, Gross | 690,851,000 | ||||
Commercial Office Real Estate | Arizona OAZ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,652,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 951,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,603,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,825,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 8,636,000 | ||||
Commercial Office Real Estate | Arizona OAZ 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,652,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 287,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,939,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,589,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,972,000 | ||||
Commercial Office Real Estate | Arizona OAZ 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,652,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 205,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,033,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,857,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,570,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,890,000 | ||||
Commercial Office Real Estate | Arizona OAZ 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 701,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,339,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 701,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,339,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,645,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 5,040,000 | ||||
Commercial Office Real Estate | Arizona OAZ 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,780,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,336,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,294,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,780,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,630,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,827,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 48,410,000 | ||||
Commercial Office Real Estate | California OCA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,139,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,064,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,596,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,139,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,660,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,229,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,799,000 | ||||
Commercial Office Real Estate | Colorado OCO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,757,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,930,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,476,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,757,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,406,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -8,823,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 25,163,000 | ||||
Commercial Office Real Estate | Colorado OCO 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,856,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,752,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 48,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,800,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,356,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 16,800,000 | [4] | |||
Commercial Office Real Estate | Florida OFL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,517,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,484,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,112,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,517,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,596,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,168,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 22,113,000 | ||||
Commercial Office Real Estate | Georgia OGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 905,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,744,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 45,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 905,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,789,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,142,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,694,000 | ||||
Commercial Office Real Estate | Georgia OGA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,709,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,091,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 22,344,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,709,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 71,435,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -24,788,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 77,144,000 | ||||
Commercial Office Real Estate | Massachusetts OMA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 12,581,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,600,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,947,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 285,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,600,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,232,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -7,126,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 23,832,000 | [4] | |||
Commercial Office Real Estate | Maryland OMD 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 12,033,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,800,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,706,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 740,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,800,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,446,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -6,044,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 21,246,000 | [4] | |||
Commercial Office Real Estate | Michigan OMI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,374,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 137,956,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 243,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,374,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 138,199,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -25,622,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 143,573,000 | ||||
Commercial Office Real Estate | New Jersey ONJ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 52,675,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,726,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,429,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,724,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 74,441,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -22,447,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 82,165,000 | ||||
Commercial Office Real Estate | New Jersey ONJ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 11,517,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,008,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,763,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -81,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,008,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,682,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,725,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,690,000 | ||||
Commercial Office Real Estate | New Jersey ONJ 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 16,219,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,456,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,955,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 767,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,456,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,722,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -7,967,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 32,178,000 | [4] | |||
Commercial Office Real Estate | Pennsylvania OPA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 690,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,098,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -49,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 690,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,049,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -8,656,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 26,739,000 | ||||
Commercial Office Real Estate | Tennessee OTN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,702,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,129,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -17,064,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,702,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,065,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -7,878,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,767,000 | ||||
Commercial Office Real Estate | Texas OTX 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,364,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,628,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,644,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,373,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,263,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,589,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 17,636,000 | ||||
Commercial Office Real Estate | Texas OTX 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,233,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,160,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 146,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,233,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,306,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,480,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 16,539,000 | ||||
Commercial Office Real Estate | Texas OTX 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,932,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,235,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 12,644,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,932,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,879,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -15,945,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 46,811,000 | ||||
Commercial Office Real Estate | Texas OTX 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,230,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,660,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 482,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,230,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,142,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,303,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,372,000 | ||||
Commercial Office Real Estate | Wisconsin OWI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,875,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,914,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -6,147,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,875,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,767,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,696,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 9,642,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 141,269,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 112,221,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 340,325,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 75,408,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 111,148,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 416,806,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -105,966,000 | ||||
SEC Schedule III, Real Estate, Gross | 527,954,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Arizona IAZ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,519,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,481,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,009,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,519,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,490,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,249,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 11,009,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Arizona IAZ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,279,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,221,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,387,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,279,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,608,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,185,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,887,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 17,736,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,635,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,515,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,943,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,635,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,458,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,496,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 37,093,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 654,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,591,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,044,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 654,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,635,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,697,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,289,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,086,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,964,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,876,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,086,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,840,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,560,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 11,926,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,880,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,367,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,550,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,880,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,917,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,656,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 20,797,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,857,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,378,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,643,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,856,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,022,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,326,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 16,878,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,044,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,716,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,643,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,044,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,359,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,266,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,403,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 013 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,633,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,219,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 290,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,633,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,509,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,240,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 6,142,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 014 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,627,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,039,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,666,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,266,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 015 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,617,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,877,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,501,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,619,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,376,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -6,618,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 17,995,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 016 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 27,456,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 15,708,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,987,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,619,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,708,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,606,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -14,473,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 51,314,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | California ICA 017 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 808,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,306,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 588,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 808,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,894,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,241,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 9,702,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Colorado ICO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 832,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,379,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 832,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,379,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -289,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,211,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Florida IFL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 15,365,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,510,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,846,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,279,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,510,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,125,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,795,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 32,635,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | Florida IFL 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,048,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,676,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,048,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,676,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,290,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 11,724,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Florida IFL 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,612,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,586,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,408,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,241,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,549,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -784,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 4,790,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Florida IFL 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,198,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -4,497,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 450,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 727,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,177,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Georgia IGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 13,373,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,791,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,637,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 349,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,791,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,986,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,488,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 27,777,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | Indiana IIN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 462,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,224,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 462,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,224,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,303,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 9,686,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Massachusetts IMA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 18,400,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,439,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,774,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,979,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,439,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,753,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,391,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 40,192,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | Michigan IMI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 598,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,814,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 598,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,815,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,413,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Minnesota IMN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 403,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,147,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -344,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,206,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,206,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Minnesota IMN 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,705,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,690,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,225,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,170,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,502,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 24,395,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | North Carolina INC 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 680,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,947,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 680,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,947,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,543,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 6,627,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | New Jersey INJ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 21,340,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,368,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,376,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 21,141,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,368,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,517,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -6,085,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 44,885,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | New York INY 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,796,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,108,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,796,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,112,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,939,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 6,908,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Texas ITX 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,617,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,432,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,617,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,432,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -719,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,049,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Texas ITX 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 13,278,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,631,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,858,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -416,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,631,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,442,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,872,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 29,073,000 | [4] | |||
Commercial Industrial Research and Development Real Estate [Member] | Texas ITX 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,314,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,903,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 46,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,314,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,949,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,389,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,263,000 | ||||
Commercial Industrial Research and Development Real Estate [Member] | Virginia IVA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 14,321,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,619,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,481,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 142,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,619,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,623,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,139,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 31,242,000 | [4] | |||
Land | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 920,503,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,303,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 36,044,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 921,062,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,788,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -8,431,000 | ||||
SEC Schedule III, Real Estate, Gross | 972,850,000 | ||||
Land | Arizona LAZ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 96,700,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 96,700,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 96,700,000 | ||||
Land | Arizona LAZ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 13,170,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,144,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 64,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,170,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,208,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -472,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 18,378,000 | [4] | |||
Land | Florida LFA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 7,600,000 | ||||
Land | Florida LFA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 8,100,000 | ||||
Land | Florida LFA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 26,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 27,218,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 26,600,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,218,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 53,818,000 | ||||
Land | Florida LFA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,440,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,440,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 10,440,000 | ||||
Land | Florida LFA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 9,300,000 | ||||
Land | Flordia LFA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 9,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 9,300,000 | ||||
Land | Florida LFA 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,883,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,883,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 5,883,000 | ||||
Land | Georgia LGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,800,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,800,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,800,000 | ||||
Land | Georgia LGA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,400,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,400,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 1,400,000 | ||||
Land | Maryland LMD 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 102,938,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 102,938,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 102,938,000 | ||||
Land | Maryland LMD 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,486,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,486,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -326,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 70 years | ||||
SEC Schedule III, Real Estate, Gross | 2,486,000 | ||||
Land | New Jersey LNJ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 43,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 38,632,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 81,932,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -163,000 | [5] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 81,932,000 | ||||
Land | New York LNY 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 52,461,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,525,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 52,461,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,525,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 54,986,000 | ||||
Land | New York LNY 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 58,900,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -9,506,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 49,394,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 49,394,000 | ||||
Land | New York LNY 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,277,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,825,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,277,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,825,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 7,102,000 | ||||
Land | Oregon LOR 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,674,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 215,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,674,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 215,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,889,000 | ||||
Land | Oregon LOR 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 20,326,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -9,558,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,768,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 10,768,000 | ||||
Land | Texas LTX 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,375,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,375,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,375,000 | ||||
Land | Texas LTX 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,621,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,621,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,621,000 | ||||
Land | Virginia LVA 001 Property 1 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 60,814,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 27,115,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 87,929,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,554,000 | [5] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 87,929,000 | ||||
Land | California LCA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 28,464,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,836,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -11,000,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,464,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,836,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,409,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 20,300,000 | ||||
Land | California LCA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 87,300,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -11,330,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 75,970,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 75,970,000 | ||||
Land | California LCA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 68,155,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -21,405,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 46,750,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 46,750,000 | ||||
Land | California LCA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 84,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,628,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 89,728,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 89,728,000 | ||||
Land | California LCA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 59,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 59,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 59,100,000 | ||||
Land | California LCA 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 30,500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 30,500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 30,500,000 | ||||
Land | California LCA 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,095,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,323,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,638,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,095,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,961,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,056,000 | ||||
Land | Virginia LVA 001 Property 2 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,324,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -8,017,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,307,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,307,000 | ||||
Commercial Entertainment and Leisure Real Estate | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 129,798,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 248,396,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 89,411,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 129,781,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 337,824,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -85,812,000 | ||||
SEC Schedule III, Real Estate, Gross | 467,605,000 | ||||
Commercial Entertainment and Leisure Real Estate | Alabama EAL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 277,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 359,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 277,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 358,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -97,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 635,000 | ||||
Commercial Entertainment and Leisure Real Estate | Alabama EAL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 319,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 414,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 319,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 415,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -112,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 734,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 793,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,027,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 793,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,030,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -278,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,823,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 673,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 672,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -183,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,193,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 305,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 394,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 305,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 393,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -107,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 698,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 630,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 815,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 630,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 817,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -221,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,447,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 590,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 764,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 590,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 766,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -207,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,356,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 616,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 615,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -167,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,091,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 654,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 845,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 654,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 844,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -229,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,498,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 666,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 862,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 666,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 860,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -233,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,526,000 | ||||
Commercial Entertainment and Leisure Real Estate | Arizona EAZ 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 460,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 596,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 460,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 598,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -161,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,058,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,097,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,421,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,097,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,424,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -384,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,521,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 560,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 562,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -152,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 996,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 429,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 430,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -116,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 762,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,642,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,124,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,642,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,120,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -575,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 3,762,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 676,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 876,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 676,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 878,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -237,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,554,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 720,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 932,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 720,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 934,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -252,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,654,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 574,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 743,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 574,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 742,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -201,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,316,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 392,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 508,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 392,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 507,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -137,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 899,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 358,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 464,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 358,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 463,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -126,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 821,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 010 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,000,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,000,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,760,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 18,000,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 852,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,101,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 852,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,099,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -298,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,951,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,572,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,034,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,572,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,039,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -551,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 3,611,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 013 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,953,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 25,772,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,725,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,042,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 27,725,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 014 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 659,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 852,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 659,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 850,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -231,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,509,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 015 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 562,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 729,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 562,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 730,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -197,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,292,000 | ||||
Commercial Entertainment and Leisure Real Estate | California ECA 016 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 896,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,159,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 896,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,157,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -314,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,053,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 466,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 602,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 466,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 601,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -163,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,067,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 640,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 827,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 640,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 830,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -224,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,470,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 729,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 944,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 729,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 946,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -255,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,675,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 536,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 694,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 536,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 693,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -188,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,229,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 412,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 533,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 412,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 535,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -144,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 947,000 | ||||
Commercial Entertainment and Leisure Real Estate | Colorado ECO 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 901,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,165,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 901,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,163,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -316,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,064,000 | ||||
Commercial Entertainment and Leisure Real Estate | Connecticut ECT 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,097,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,420,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,097,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,418,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -385,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,515,000 | ||||
Commercial Entertainment and Leisure Real Estate | Connecticut ECT 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 330,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 426,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 330,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 427,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -115,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 757,000 | ||||
Commercial Entertainment and Leisure Real Estate | Delaware EDE 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,076,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,390,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,076,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,397,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -377,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,473,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,809,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,809,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -15,198,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 27 years | ||||
SEC Schedule III, Real Estate, Gross | 41,809,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 412,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 531,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 412,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 531,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -144,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 943,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,550,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 17,118,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,533,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,135,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,281,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 23,668,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,067,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,382,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,067,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,386,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -374,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,453,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 340,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 439,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 340,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 438,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -119,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 778,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 401,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 520,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 401,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 521,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -141,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 922,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 655,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 654,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -178,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,161,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 282,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 364,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 282,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 363,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -99,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 645,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 352,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 455,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 352,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 456,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -123,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 808,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 437,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 567,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 437,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 568,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -153,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,005,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 532,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 689,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 532,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 690,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -186,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,222,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 014 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 486,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 629,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 486,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 631,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -170,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,117,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 016 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 497,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 643,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 497,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 642,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -174,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,139,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 018 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 643,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 833,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 643,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 831,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -225,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,474,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 019 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,200,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,272,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,200,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,272,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,497,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 22,472,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 020 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 551,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 714,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 551,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 712,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -193,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,263,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 021 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 364,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 470,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 364,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 469,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -127,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 833,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 022 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 656,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 658,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -178,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,165,000 | ||||
Commercial Entertainment and Leisure Real Estate | Florida EFL 023 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,337,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,337,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -4,759,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 19,337,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 510,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 660,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 510,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 658,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -179,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,168,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 286,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 371,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 286,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 372,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 658,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 474,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 613,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 474,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 614,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -166,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,088,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 581,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 752,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 581,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 754,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -203,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,335,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 718,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 930,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 718,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 928,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -252,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,646,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 546,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 706,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 546,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 708,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -191,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,254,000 | ||||
Commercial Entertainment and Leisure Real Estate | Georgia EGA 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 502,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 651,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 502,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 650,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -176,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,152,000 | ||||
Commercial Entertainment and Leisure Real Estate | Illinois EIL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 335,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 335,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 435,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -117,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 770,000 | ||||
Commercial Entertainment and Leisure Real Estate | Illinois EIL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 481,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 622,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 481,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 623,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -168,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,104,000 | ||||
Commercial Entertainment and Leisure Real Estate | Illinois EIL 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,803,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 30,479,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,803,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,536,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -5,583,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 39,339,000 | ||||
Commercial Entertainment and Leisure Real Estate | Illinois EIL 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 433,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 560,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 433,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 558,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -152,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 991,000 | ||||
Commercial Entertainment and Leisure Real Estate | Illinois EIL 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 431,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 557,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 431,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 556,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -151,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 987,000 | ||||
Commercial Entertainment and Leisure Real Estate | Indiana EIN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 542,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 701,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 542,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 700,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -190,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,242,000 | ||||
Commercial Entertainment and Leisure Real Estate | Kentucky EKY 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 417,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 539,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 417,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 540,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -146,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 957,000 | ||||
Commercial Entertainment and Leisure Real Estate | Kentucky EKY 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 365,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 473,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 365,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 472,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -128,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 837,000 | ||||
Commercial Entertainment and Leisure Real Estate | Massachusetts EMA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 523,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 678,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 523,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 676,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -183,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,199,000 | ||||
Commercial Entertainment and Leisure Real Estate | Massachusetts EMA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 548,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 711,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 548,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 712,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -192,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,260,000 | ||||
Commercial Entertainment and Leisure Real Estate | Massachusetts EMA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 519,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 672,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 519,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 670,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -182,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,189,000 | ||||
Commercial Entertainment and Leisure Real Estate | Massachusetts EMA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 344,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 445,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 344,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 446,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -120,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 790,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 428,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 554,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 428,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 555,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -150,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 983,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 575,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 745,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 575,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 747,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -202,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,322,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 362,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 468,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 362,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 467,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -127,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 829,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 884,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,145,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 884,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,142,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -310,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,026,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 399,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 518,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 399,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 517,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -140,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 916,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 649,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 839,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 649,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 837,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -227,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,486,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 366,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 473,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 366,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 473,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -128,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 839,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 398,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 516,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 398,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 515,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -140,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 913,000 | ||||
Commercial Entertainment and Leisure Real Estate | Maryland EMD 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,126,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,458,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,126,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,461,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -394,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,587,000 | ||||
Commercial Entertainment and Leisure Real Estate | Michigan EMI 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 516,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 667,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 516,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 666,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -181,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,182,000 | ||||
Commercial Entertainment and Leisure Real Estate | Michigan EMI 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 554,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 718,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 554,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 720,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -194,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,274,000 | ||||
Commercial Entertainment and Leisure Real Estate | Michigan EMI 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 387,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 387,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 499,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -136,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 886,000 | ||||
Commercial Entertainment and Leisure Real Estate | Michigan EMI 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 533,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 691,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 533,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 689,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -187,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,222,000 | ||||
Commercial Entertainment and Leisure Real Estate | Minnesota EMN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 666,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 861,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 666,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 859,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -233,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,525,000 | ||||
Commercial Entertainment and Leisure Real Estate | Minnesota EMN 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,962,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,384,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,962,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,384,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -3,078,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 18,346,000 | ||||
Commercial Entertainment and Leisure Real Estate | Minnesota EMN 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,437,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,715,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 679,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,437,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,394,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,292,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 11,831,000 | ||||
Commercial Entertainment and Leisure Real Estate | Missouri EMO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 334,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 432,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 334,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 433,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -117,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 767,000 | ||||
Commercial Entertainment and Leisure Real Estate | Missouri EMO 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 404,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 523,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 404,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 521,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -142,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 925,000 | ||||
Commercial Entertainment and Leisure Real Estate | Missouri EMO 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 462,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 597,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 462,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 596,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -162,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,058,000 | ||||
Commercial Entertainment and Leisure Real Estate | Missouri EMO 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 878,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,139,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 878,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,142,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -308,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,020,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 397,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 513,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 397,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 514,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -139,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 911,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 615,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 476,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 614,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -167,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,090,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 410,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 530,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 410,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 529,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -144,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 939,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 402,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 520,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 402,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 519,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -141,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 921,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 948,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,227,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 948,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,230,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,178,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 259,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 336,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 259,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 335,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -91,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 594,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 349,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 452,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 349,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 453,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -122,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 802,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 640,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 828,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 640,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 830,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -224,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,470,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 409,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 531,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 409,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 532,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -143,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 941,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina Enc 010 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 965,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,249,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 965,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,246,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -338,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,211,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 475,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 615,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 475,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 616,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -166,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,091,000 | ||||
Commercial Entertainment and Leisure Real Estate | North Carolina ENC 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 494,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 638,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 494,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 637,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -173,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,131,000 | ||||
Commercial Entertainment and Leisure Real Estate | New Jersey ENJ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,560,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,019,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,560,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,015,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -547,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 3,575,000 | ||||
Commercial Entertainment and Leisure Real Estate | New Jersey ENJ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 830,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,075,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 830,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,077,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -291,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,907,000 | ||||
Commercial Entertainment and Leisure Real Estate | Nevada ENV 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 440,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 569,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 440,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 568,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -154,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,008,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 603,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 779,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 603,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 778,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -211,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,381,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 442,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 571,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 442,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 573,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -155,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,015,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 385,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 499,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 385,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 498,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -135,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 883,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 350,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 453,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 350,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 454,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -123,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 804,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 326,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 421,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 326,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 423,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -114,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 749,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 494,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 640,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 494,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 642,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -173,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,136,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 320,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 414,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 320,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 413,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -112,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 733,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 399,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 516,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 399,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 515,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -140,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 914,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 010 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 959,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,240,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 959,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,237,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -336,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,196,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 587,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 761,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 587,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 763,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -206,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,350,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 675,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 673,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -183,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,194,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 013 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 711,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 920,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 711,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 922,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -249,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,633,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 014 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 558,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 723,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 558,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 721,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -196,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,279,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 015 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 747,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 967,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 747,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 970,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -262,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,717,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 016 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 683,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 885,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 683,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 883,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -240,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,566,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 017 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,492,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,933,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,492,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,937,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -523,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 3,429,000 | ||||
Commercial Entertainment and Leisure Real Estate | New York ENY 018 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,471,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,904,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,471,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,900,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -516,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 3,371,000 | ||||
Commercial Entertainment and Leisure Real Estate | Ohio EOH 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 562,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 434,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 563,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -152,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 997,000 | ||||
Commercial Entertainment and Leisure Real Estate | Ohio EOH 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 967,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,252,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 967,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,250,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -339,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,217,000 | ||||
Commercial Entertainment and Leisure Real Estate | Ohio EOH 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 281,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 365,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 281,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 364,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -99,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 645,000 | ||||
Commercial Entertainment and Leisure Real Estate | Ohio EOH 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 508,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 510,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -138,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 903,000 | ||||
Commercial Entertainment and Leisure Real Estate | Oklahoma EOK 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 431,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 557,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 431,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 556,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -151,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 987,000 | ||||
Commercial Entertainment and Leisure Real Estate | Oklahoma EOK 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 954,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,235,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 954,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,238,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -334,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,192,000 | ||||
Commercial Entertainment and Leisure Real Estate | Oregon EOR 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 508,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 507,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -138,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 900,000 | ||||
Commercial Entertainment and Leisure Real Estate | Pennsylvania EPA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 407,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 527,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 407,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 528,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -143,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 935,000 | ||||
Commercial Entertainment and Leisure Real Estate | Pennsylvania EPA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 421,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 544,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 421,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 546,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -147,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 967,000 | ||||
Commercial Entertainment and Leisure Real Estate | Pennsylvania EPA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 409,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 528,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 409,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 527,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -143,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 936,000 | ||||
Commercial Entertainment and Leisure Real Estate | Pennsylvania EPA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 407,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 527,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 407,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 526,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -143,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 933,000 | ||||
Commercial Entertainment and Leisure Real Estate | Puerto Rico EPR 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 950,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,230,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 950,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,233,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -333,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,183,000 | ||||
Commercial Entertainment and Leisure Real Estate | Rhode Island ERI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 850,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,100,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 850,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,098,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -298,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,948,000 | ||||
Commercial Entertainment and Leisure Real Estate | South Carolina ESC 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 429,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 430,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -116,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 762,000 | ||||
Commercial Entertainment and Leisure Real Estate | South Carolina ESC 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 924,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,196,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 924,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,199,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -324,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,123,000 | ||||
Commercial Entertainment and Leisure Real Estate | Tennessee ETN 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 260,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 338,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 260,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 338,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -91,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 598,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,045,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,353,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,045,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,356,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -366,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,401,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 593,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 767,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 593,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 765,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -208,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,358,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 838,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,083,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 838,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,081,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -294,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,919,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 528,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 682,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 528,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 681,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -185,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,209,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 480,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 622,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 480,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 621,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -168,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,101,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 975,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,261,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 975,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,258,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -342,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,233,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,108,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,433,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,108,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,430,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -388,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,538,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 425,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 549,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -56,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 425,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 493,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -140,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 918,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 010 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 518,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 671,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 518,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 673,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -182,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,191,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 758,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 981,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 758,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 984,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -266,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,742,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 013 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 375,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 485,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 375,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 484,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -131,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 859,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 014 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 438,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 567,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 438,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 566,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -154,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,004,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 017 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 561,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 726,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 561,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 728,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -196,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,289,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 018 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 753,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 976,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 753,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 978,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -264,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,731,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 019 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 675,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 677,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -183,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,198,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 020 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 634,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 821,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 634,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 820,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -222,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,454,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 021 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 379,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 491,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 379,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 490,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -133,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 869,000 | ||||
Commercial Entertainment and Leisure Real Estate | Texas ETX 022 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 592,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 766,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 592,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 768,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -207,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,360,000 | ||||
Commercial Entertainment and Leisure Real Estate | Utah EUT 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 624,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 808,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 624,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 810,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -219,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,434,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,134,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,467,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,134,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,471,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -397,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,605,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 845,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,094,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 845,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,096,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -296,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,941,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 884,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,145,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 884,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,143,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -310,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,027,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 953,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,233,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 953,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,230,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -334,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,183,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 487,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 632,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 487,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 633,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -171,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,120,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 425,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 550,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 425,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 549,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -149,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 974,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 007 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,151,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,490,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,151,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,487,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -403,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,638,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 008 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 546,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 707,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 546,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 709,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -191,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,255,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 009 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 851,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,103,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 851,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,106,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -298,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,957,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 010 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 819,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,061,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 819,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,063,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -287,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,882,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 011 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 958,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,240,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 958,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,243,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -336,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,201,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 012 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 788,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,020,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 788,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,018,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -276,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,806,000 | ||||
Commercial Entertainment and Leisure Real Estate | Virginia EVA 013 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 554,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 716,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 554,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 715,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -194,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,269,000 | ||||
Commercial Entertainment and Leisure Real Estate | Washington EWA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,500,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,500,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,116,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 8,000,000 | ||||
Commercial Entertainment and Leisure Real Estate | Wisconsin EWI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 673,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 521,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 677,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -183,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,198,000 | ||||
Commercial Entertainment and Leisure Real Estate | Wisconsin EWI 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 413,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 535,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 413,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 537,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -145,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 950,000 | ||||
Commercial Entertainment and Leisure Real Estate | Wisconsin EWI 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 542,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 702,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 542,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 700,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -190,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,242,000 | ||||
Commercial Entertainment and Leisure Real Estate | Wisconsin EWI 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 793,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,025,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 793,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,023,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -278,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,816,000 | ||||
Commercial Entertainment and Leisure Real Estate | Wisconsin EWI 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,124,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,455,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,124,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,465,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -394,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,589,000 | ||||
Retail Site [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 58,835,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 154,415,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 27,654,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 57,908,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 182,996,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -23,156,000 | ||||
SEC Schedule III, Real Estate, Gross | 240,904,000 | ||||
Retail Site [Member] | Arizona RAZ 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,625,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,875,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,355,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,625,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,230,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -515,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 8,855,000 | ||||
Retail Site [Member] | Arizona RAZ 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,184,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,056,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -1,588,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,184,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,468,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -194,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 4,652,000 | ||||
Retail Site [Member] | Arizona RAZ 005 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,657,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,666,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -277,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,657,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,389,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -326,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 5,046,000 | [4] | |||
Retail Site [Member] | California RCA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,569,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,031,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 370,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,569,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,401,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -413,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 5,970,000 | ||||
Retail Site [Member] | Colorado RCO 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,631,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 279,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,195,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,607,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,498,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,048,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 8,105,000 | [4] | |||
Retail Site [Member] | Florida RFL 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,950,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,285,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,908,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,327,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,147,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,235,000 | [4] | |||
Retail Site [Member] | Hawaii RHI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,155,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -10,144,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,393,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,011,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,895,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,404,000 | ||||
Retail Site [Member] | Illinois RIL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 336,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,193,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,529,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -406,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 1,529,000 | [4] | |||
Retail Site [Member] | Illinois RIL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 14,934,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,675,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,606,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,934,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,281,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -2,961,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 50,215,000 | ||||
Retail Site [Member] | New Mexico RNM 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,733,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,370,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,705,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,398,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,592,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 10,103,000 | [4] | |||
Retail Site [Member] | New York RNY 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 731,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,073,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 699,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 711,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,792,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,725,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,503,000 | [4] | |||
Retail Site [Member] | Pennsylvania RPA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,687,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 56,950,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,367,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,687,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 59,317,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -6,264,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 65,004,000 | ||||
Retail Site [Member] | South Carolina RSC 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,126,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 948,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -723,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,337,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,014,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -185,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 2,351,000 | ||||
Retail Site [Member] | Texas RTX 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,538,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,215,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 171,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,514,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,410,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,249,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 7,924,000 | [4] | |||
Retail Site [Member] | Texas RTX 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,225,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,275,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -791,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,225,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,484,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 2,709,000 | ||||
Retail Site [Member] | Texas RTX 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 630,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,170,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -409,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 630,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 761,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 1,391,000 | ||||
Retail Site [Member] | Utah RUT 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,502,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,975,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,502,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,975,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,226,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 9,477,000 | [4] | |||
Retail Site [Member] | Virginia RVA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,720,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,711,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,720,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,711,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,010,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 21,431,000 | ||||
Residential Real Estate | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 191,386,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 501,461,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -577,095,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 33,597,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,155,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate, Gross | 115,752,000 | ||||
Residential Real Estate | Arizona AAZ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,423,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 13,372,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,423,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,372,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 15,795,000 | ||||
Residential Real Estate | California ACA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,333,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,333,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -33,290,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 675,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,701,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 3,376,000 | ||||
Residential Real Estate | California ACA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,078,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,312,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -43,252,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,428,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,710,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 7,138,000 | ||||
Residential Real Estate | Florida AFL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,394,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,206,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -26,420,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 164,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 180,000 | ||||
Residential Real Estate | Florida AFL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,540,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,260,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -21,800,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 0 | ||||
Residential Real Estate | Florida AFL003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 30,900,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,900,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -56,430,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,685,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,685,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 5,370,000 | ||||
Residential Real Estate | Georgia AGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,963,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,850,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,323,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,027,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,109,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 25,136,000 | [4] | |||
Residential Real Estate | Hawaii AHI 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,080,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,120,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -18,535,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 666,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 999,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 1,665,000 | ||||
Residential Real Estate | Hawaii AHI 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,483,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,417,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -12,417,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 130,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 353,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 483,000 | ||||
Residential Real Estate | New Jersey ANJ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 36,405,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 64,719,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -100,639,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 175,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 310,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 485,000 | ||||
Residential Real Estate | Nevada ANZ 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 18,117,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 106,829,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -117,328,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,104,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,514,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 7,618,000 | ||||
Residential Real Estate | Pennsylvania APA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 44,438,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 82,527,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -117,620,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,271,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,074,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 9,345,000 | [4] | |||
Residential Real Estate | Pennsylvania APA 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 15,890,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,510,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -8,356,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,891,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,153,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 37,044,000 | ||||
Residential Real Estate | Washington AWA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,342,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,478,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -44,703,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 106,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,011,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 0 years | ||||
SEC Schedule III, Real Estate, Gross | 2,117,000 | ||||
Mixed Use Collateral | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 53,918,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 123,011,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 24,345,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 53,766,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 147,508,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -12,940,000 | ||||
SEC Schedule III, Real Estate, Gross | 201,274,000 | ||||
Mixed Use Collateral | Flordia LFA 006 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
Mixed Use Collateral | Arizona MAZ 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 10,182,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,544,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 20,731,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,030,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,427,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -8,752,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 83,457,000 | ||||
Mixed Use Collateral | California MCA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,869,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 629,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,870,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 630,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -262,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 6,500,000 | ||||
Mixed Use Collateral | Florida MFL 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,450,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,216,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | -2,405,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,450,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,811,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -1,742,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 14,261,000 | ||||
Mixed Use Collateral | Florida MFL 002 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 18,229,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,899,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,637,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 18,229,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,536,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -729,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 40,765,000 | ||||
Mixed Use Collateral | Florida MFL 003 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,155,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,224,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,507,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,379,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -332,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 11,886,000 | ||||
Mixed Use Collateral | Florida MFL 004 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,201,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,652,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 882,000 | [1] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,201,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,534,000 | ||||
SEC Schedule III, Real Estate Accumulated Depreciation | -418,000 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | 19,735,000 | ||||
Mixed Use Collateral | Georgia MGA 001 [Member] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,480,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,916,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,274,000 | [1],[4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,479,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,191,000 | [4] | |||
SEC Schedule III, Real Estate Accumulated Depreciation | -705,000 | [4] | |||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years | ||||
SEC Schedule III, Real Estate, Gross | $24,670,000 | [4] | |||
Minimum | Land | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 15 years | ||||
Maximum [Member] | Land | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | 20 years | ||||
[1] | Includes impairments and unit sales. | ||||
[2] | Includes $13.1 million relating to accumulated depreciation for real estate assets held for sale as of December 31, 2014. | ||||
[3] | The aggregate cost for Federal income tax purposes was approximately $3.78 billion at December 31, 2014. | ||||
[4] | Consists of properties pledged as collateral under the Company's secured credit facilities with a total book value of $381.6 million | ||||
[5] | These properties have land improvements which have depreciable lives of 15 to 20 years. |
Schedule_IV_Mortgage_Loans_on_1
Schedule IV - Mortgage Loans on Real Estate (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Charge Offs | $239,600,000 | $152,800,000 | $106,900,000 | |
Mortgage Loans on Real Estate, Write-down or Reserve, Amount | 64,400,000 | |||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 726,426,000 | 827,796,000 | 1,421,654,000 | 2,449,554,000 |
Mortgage Loans on Real Estate, Face Amount of Mortgages | 794,803,000 | |||
New mortgage loans | 476,332,000 | 19,249,000 | 2,205,000 | |
Additions under existing mortgage loans | 13,108,000 | 31,589,000 | 29,887,000 | |
Other | 26,156,000 | 16,385,000 | 33,324,000 | |
Collections of principal | -532,465,000 | -636,883,000 | -700,943,000 | |
Recovery of (provision for) loan losses | 483,000 | 25,011,000 | -121,869,000 | |
Transfers to real estate and equity investments | -84,912,000 | -49,100,000 | -270,359,000 | |
Amortization of premium | -72,000 | -109,000 | -145,000 | |
Subordinate Mortgages | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 53,331,000 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 53,274,000 | |||
Subordinate Mortgages Individually Less than 3 Percent | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 28,339,000 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 28,274,000 | |||
Senior Mortgages | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 673,095,000 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 741,529,000 | |||
Senior Mortgages Individually Less than 3 Percent | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 233,355,000 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 276,626,000 | |||
Borrower A | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 140,553,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 0 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 142,736,000 | |||
Borrower B | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 117,818,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 0 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 118,750,000 | |||
Borrower C | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 92,525,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 0 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 93,500,000 | |||
Borrower D | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 64,574,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 0 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 63,842,000 | |||
Borrower E | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate Principal Delinquent more than 90 Days | 46,100,000 | |||
Loan Non Performing And Non Accrual Status Delinquency Period | 90 days | |||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 24,270,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 0 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 46,075,000 | |||
Borrower F | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 24,992,000 | |||
Mortgage Loans on Real Estate, Prior Liens | 100,000,000 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $25,000,000 | |||
Minimum [Member] | Borrower B | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Loans Receivable, Basis Spread on Variable Rate | 0.25% | |||
Minimum [Member] | Borrower E | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Loans Receivable, Basis Spread on Variable Rate | 4.00% |
Schedule_IV_Mortgage_Loans_on_2
Schedule IV - Mortgage Loans on Real Estate (Details2) | 12 Months Ended |
Dec. 31, 2014 | |
Contractual Interest Payment Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 4.00% |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 9.68% |
Contractual Interest Payment Rates [Member] | Borrower A | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 5.25% |
Contractual Interest Payment Rates [Member] | Borrower C | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 6.00% |
Contractual Interest Payment Rates [Member] | Borrower D | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 5.25% |
Contractual Interest Payment Rates [Member] | Borrower E | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 3.00% |
Contractual Interest Payment Rates [Member] | Borrower B | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 8.00% |
Contractual Interest Payment Rates [Member] | Borrower F | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Interest Rate | 8.00% |
Contractual Interest Payment Rates [Member] | Subordinate Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 8.12% |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 14.00% |
Contractual Interest Accrual Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 4.00% |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 13.00% |
Contractual Interest Accrual Rates [Member] | Borrower A | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 5.25% |
Contractual Interest Accrual Rates [Member] | Borrower C | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 6.00% |
Contractual Interest Accrual Rates [Member] | Borrower D | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 5.25% |
Contractual Interest Accrual Rates [Member] | Borrower E | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 3.00% |
Contractual Interest Accrual Rates [Member] | Borrower B | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 8.00% |
Contractual Interest Accrual Rates [Member] | Borrower F | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Interest Rate | 8.00% |
Contractual Interest Accrual Rates [Member] | Subordinate Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 6.80% |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 14.00% |
Maximum | Contractual Interest Payment Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 8.00% |
Maximum | Contractual Interest Accrual Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 8.00% |
Minimum | Borrower E | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Basis Spread on Variable Rate | 4.00% |
Minimum | Borrower B | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Basis Spread on Variable Rate | 0.25% |
Minimum | Contractual Interest Payment Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 2.75% |
Minimum | Contractual Interest Accrual Rates [Member] | Senior Mortgages Individually Less than 3 Percent | |
Mortgage Loans on Real Estate [Line Items] | |
Loans Receivable, Description of Variable Rate Basis | LIBOR |
Loans Receivable, Basis Spread on Variable Rate | 2.75% |