Winthrop Realty Liquidating Trust 10-K 29 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	FUR
Entity Registrant Name	Winthrop Realty Liquidating Trust
Entity Central Index Key	0000037008
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,425,084
Entity Public Float			$ 0

Consolidated Statement of Net A

Consolidated Statement of Net Assets Liquidation Basis - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
LIABILITIES
Net assets in liquidation	$ 12,425	$ 264,441
Liquidation Value [Member]
ASSETS
Investments in real estate	9,924	32,976
Equity investments	2,184	249,568
Cash and cash equivalents	4,769	9,111
Restricted cash held in escrows		2,228
Loan receivable		8,400
Accounts receivable	132	491
TOTAL ASSETS	17,009	302,774
LIABILITIES
Mortgage loans payable	3,979	19,663
Liability for non-controlling interests		206
Liability for estimated costs in excess of estimated receipts during liquidation	270	16,606
Accounts payable, accrued liabilities and other liabilities	332	1,090
Related party fees payable	3	768
TOTAL LIABILITIES	4,584	38,333
COMMITMENTS AND CONTINGENCIES (Note 11)
Net assets in liquidation	$ 12,425	$ 264,441

Consolidated Statements of Chan

Consolidated Statements of Changes in Net Assets Liquidation Basis Unaudited - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net assets in liquidation, beginning of year	$ 264,441
Changes in net assets in liquidation
Change in liquidation value of investments in real estate	(7,114)	$ (1,519)
Change in liquidation value of loans receivable	(303)		$ 100
Change in liquidation value of equity investments	(30,910)	(11,049)
Remeasurement of assets and liabilities	6,683	2,581
Liquidating distributions to Unitholders/Common shareholders	(220,372)	(54,727)
Net assets in liquidation, end of year	12,425	264,441
Liquidation Value [Member]
Net assets in liquidation, beginning of year	264,441	327,927
Changes in net assets in liquidation
Change in liquidation value of investments in real estate	(7,114)	(1,519)
Change in liquidation value of loans receivable	(303)
Change in liquidation value of equity investments	(30,910)	(11,049)
Remeasurement of assets and liabilities	6,683	3,263
Remeasurement of non-controlling interests		546
Net decrease in liquidation value	(31,644)	(8,759)
Liquidating distributions to Unitholders/Common shareholders	(220,372)	(54,727)
Changes in net assets in liquidation	(252,016)	(63,486)
Net assets in liquidation, end of year	$ 12,425	$ 264,441	$ 327,927

Business

Business	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	1. Business Winthrop Realty Liquidating Trust (the “Liquidating Trust”) was organized on July 28, 2016 as a liquidating trust pursuant to a plan of liquidation of Winthrop Realty Trust, (“Winthrop”). Winthrop, which began operations in 1961 under the name First Union Real Estate Equity and Mortgage Investments and changed its name to Winthrop Realty Trust in 2005, was a real estate investment trust formed under the laws of the State of Ohio. Winthrop conducted its business through its wholly owned operating partnership, WRT Realty L.P., a Delaware limited partnership, (the “Operating Partnership”). From January 1, 2004 through August 5, 2016, Winthrop was externally managed by FUR Advisors LLC, (“FUR Advisors” or the “Advisor”). Since August 5, 2016, FUR Advisors has continued to manage the Liquidating Trust’s assets. The Advisor is majority owned by Winthrop’s former executive officers and senior management, including Michael L. Ashner and Carolyn Tiffany, two of the Liquidating Trust’s Trustees. Winthrop’s primary business was owning real property and real estate related assets. On April 28, 2014 Winthrop’s Board of Trustees adopted a plan of liquidation. The plan, which provided for an orderly liquidation of Winthrop’s assets, was approved by holders of a majority of Winthrop’s common shares of beneficial interest (“Common Shares”) at a special meeting of shareholders on August 5, 2014. Under the plan of liquidation, if all of the assets of Winthrop were not disposed of by August 5, 2016, the then remaining assets and liabilities of Winthrop would be assigned to a liquidating trust. On August 5, 2016, in accordance with Winthrop’s plan of liquidation, Winthrop transferred the then remaining assets and liabilities, including its ownership interests in the Operating Partnership, to the Liquidating Trust. The Liquidating Trust is governed by a Liquidating Trust Agreement by and among Winthrop and Michael L. Ashner, Howard Goldberg and Carolyn Tiffany, as Trustees. Upon the transfer of the assets and liabilities to the Liquidating Trust, each Common Share on August 5, 2016, was automatically converted into one unit of beneficial interest in the Liquidating Trust, (“Unit”), and each holder of Common Shares become a beneficiary of the Liquidating Trust, (“Beneficiaries”). On October 3, 2016, Winthrop filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to terminate the registration of the Common Shares under the Securities Exchange Act of 1934, as amended, and Winthrop ceased filing reports under that act. The Liquidating Trust will only file with the SEC annual reports on Form 10-K 8-K. The sole purpose of the Liquidating Trust is to wind up the affairs of Winthrop by liquidating its remaining assets, satisfying the assumed liabilities, paying all costs and expenses of the Liquidating Trust and distributing the remaining proceeds to the Beneficiaries. The Liquidating Trust has no objective to continue or engage in the conduct of a trade or business, except as necessary for the orderly liquidation of the remaining assets.

Plan of Liquidation

Plan of Liquidation	12 Months Ended
	Dec. 31, 2018
Text Block [Abstract]
Plan of Liquidation	2. Plan of Liquidation Subsequent to August 5, 2014, Winthrop was not, and under the Liquidating Trust Agreement the Liquidating Trust is not, permitted to make any new investments other than protective acquisitions or advances with respect to its existing assets. Winthrop was, and the Liquidating Trust is, permitted to satisfy any existing contractual obligations including any capital call requirements and acquisitions or dispositions pursuant to buy-sell The Liquidating Trust Agreement enables the Liquidating Trust to sell any and all of its assets without further approval of the unitholders and provides that liquidating distributions be made to the unitholders as determined by the Trustees. Pursuant to applicable real estate investment trust (“REIT”) rules, in order to be able to deduct liquidating distributions as dividends, Winthrop was required to complete the disposition of its assets by August 5, 2016, two years after the date the plan of liquidation was adopted by shareholders. Winthrop satisfied this requirement by distributing its unsold assets into the Liquidating Trust on August 5, 2016. In connection with the transfer of assets to, and the assumption of liabilities by, the Liquidating Trust, the stock transfer books of Winthrop were closed as of the close of business on August 1, 2016. All of the outstanding Common Shares were automatically deemed cancelled, and the rights of the Beneficiaries in their Units are not represented by any form of certificate or other instrument. Holders of Common Shares were not required to take any action to receive their Units. On the date of the transfer, the economic value of each Unit was equivalent to the economic value of a Common Share. Holders of the Units should note that unlike Common Shares, which were freely transferable, Units in the Liquidating Trust are generally not transferable except by will, intestate succession or operation of law. Therefore, the Beneficiaries have no ability to realize any value from these interests except from distributions made by the Liquidating Trust, the timing of which will be solely at the discretion of the Liquidating Trust’s Trustees. The Liquidating Trust will terminate upon the earlier of (i) the distribution of all of the remaining assets of the Liquidating Trust in accordance with the terms of the Liquidating Trust Agreement, or (ii) August 5, 2019. The Liquidating Trust may be extended beyond August 5, 2019 if the Trustees of the Liquidating Trust determine that an extension is reasonably necessary to fulfill the purpose of the Liquidating Trust. Although no assurances can be given, it is anticipated that the Liquidating Trust will be extended and the liquidation will be completed by December 31, 2019. The dissolution process and the amount and timing of distributions to unitholders involves risks and uncertainties. Accordingly, it is not possible to predict the timing or aggregate amount which will ultimately be distributed to unitholders and no assurance can be given that the distributions will equal or exceed the estimate of net assets presented in the Consolidated Statements of Net Assets.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements have been presented on a comparative basis. For periods prior to August 5, 2016, the entity is referred to as Winthrop Realty Trust, and from and after August 5, 2016 the entity is referred to as Winthrop Realty Liquidating Trust (see Note 1). The same basis of accounting have been used to prepare the financial statements for both Winthrop and the Liquidating Trust. The accompanying consolidated financial statements represent the consolidated results of the Liquidating Trust, the Operating Partnership and all majority-owned subsidiaries and affiliates over which the Liquidating Trust have financial and operating control. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying consolidated financial statements only includes information for the liquidation entities. Going concern information for the periods prior to the approval of the plan of liquidation is available in Winthrop’s prior filings with the SEC. As a result of the approval of the plan of liquidation by the shareholders, Winthrop and the Liquidating Trust have adopted the liquidation basis of accounting as of August 1, 2014 and for the periods subsequent to August 1, 2014 in accordance with accounting principles generally accepted in the United States (“GAAP”). Accordingly, on August 1, 2014 assets were adjusted to their estimated net realizable value, or liquidation value, which represents the estimated amount of cash that Winthrop or the Liquidating Trust will collect on disposal of assets as it carries out its plan of liquidation. The liquidation value of the Liquidating Trust’s assets are presented on an undiscounted basis. Estimated costs to dispose of assets have been presented separately from the related assets. Liabilities are carried at their contractual amounts due or estimated settlement amounts. The Liquidating Trust accrues costs and income it expects to incur and earn through the end of liquidation to the extent it has a reasonable basis for estimation. These amounts are classified as a liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Actual costs and income may differ from amounts reflected in the financial statements because of inherent uncertainty in estimating future events. These differences may be material. See Note 4 for further discussion. Actual costs incurred but unpaid as of December 31, 2018 and 2017 are included in accounts payable, accrued liabilities and other liabilities on the Consolidated Statements of Net Assets. In liquidation, the presentation for joint ventures historically consolidated under going concern accounting is determined based on the Liquidating Trust’s planned exit strategy. Those ventures where the Liquidating Trust intends to sell the property are presented on a gross basis with a payable to the non-controlling non-controlling non-controlling Net assets in liquidation represents the estimated liquidation value available to holders of Units upon liquidation. Due to the uncertainty in the timing of the anticipated sale dates and the estimated cash flows, actual operating results and sale proceeds may differ materially from the amounts estimated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the values of assets and liabilities, disclosing contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenue and expenses during the reporting period. Under liquidation accounting, the Liquidating Trust is required to estimate all costs and income that it expects to incur and earn through the end of liquidation including the estimated amount of cash it will collect on disposal of its assets and estimated costs incurred to dispose of assets. All of the estimates and evaluations are susceptible to change and actual results could differ materially from the estimates and evaluations. Investments in Real Estate As of August 1, 2014, the investments in real estate were adjusted to their estimated net realizable value, or liquidation value, to reflect the change to the liquidation basis of accounting. The liquidation value represents the estimated amount of cash that the Liquidating Trust will collect on disposal of its assets, inclusive of any residual value attributable to lease intangibles, as it carries out its plan of liquidation. The liquidation value of the Liquidating Trust’s investments in real estate are presented on an undiscounted basis and investments in real estate are no longer depreciated. Estimated costs to dispose of these investments are presented separately from the related assets and are classified as part of liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statement of Net Assets. Subsequent to August 1, 2014, all changes in the estimated liquidation value of the investments in real estate are reflected as a change to the Liquidating Trust’s net assets in liquidation. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments purchased with original maturities of three months or less. The Liquidating Trust maintains cash and cash equivalents in financial institutions in excess of insured limits, but believes this risk is mitigated by only investing in or through major financial institutions. Restricted Cash Restricted cash in escrow accounts include cash reserves for tenant improvements, leasing commissions, real estate taxes and other expenses pursuant to the loan agreements. In addition, certain security deposit accounts are classified as restricted cash. Loan Receivable Under liquidation accounting, the Liquidating Trust carried its loan receivable at its estimated net realizable value, or liquidation value, which represented the estimated amount of principal payments the Liquidating Trust expected to receive over the hold period of the loan. The liquidation value of the Liquidating Trust’s loan receivable was presented on an undiscounted basis. Interest payments that the Liquidating Trust expected to receive on its loan receivable over the estimated hold period of the loan were accrued and were classified as part of liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. As interest was earned, it was reclassified and included in loan receivable on the Consolidated Statements of Net Assets. The Liquidating Trust evaluated the collectability of the interest and principal of its loan. Any changes in collectability were reflected as a change to the Liquidating Trust’s net assets in liquidation. Accounts Receivable In accordance with liquidation accounting, as of August 1, 2014, accounts receivable were adjusted to their net realizable value. The Liquidating Trust continues to review its accounts receivable monthly. Past due balances are reviewed individually for collectability. Any changes in the collectability of the receivables are reflected in the net realizable value of the accounts receivable. Accrued rental income is not contemplated under liquidation accounting. The Liquidating Trust accrues rental revenue based on contractual amounts expected to be collected during liquidation. Equity Investments The Liquidating Trust accounts for its investments in entities in which it has the ability to significantly influence, but does not have a controlling interest, by using the equity method of accounting. Factors that are considered in determining whether or not the Liquidating Trust exercises control include (i) the right to remove the general partner or managing member in situations where the Liquidating Trust is not the general partner or managing member, and (ii) substantive participating rights of equity holders in significant business decisions including dispositions and acquisitions of assets, financing, operations and capital budgets, and other contractual rights. Subsequent to the adoption of liquidation accounting, equity investments are recorded at their net realizable value. The Liquidating Trust evaluates the net realizable value of its equity investments at each reporting period. Any changes in net realizable value will be reflected as a change to the Liquidating Trust’s net assets in liquidation. Financial Instruments Financial instruments held by the Liquidating Trust include cash and cash equivalents, accounts receivable, accounts payable and long term debt. Under liquidation accounting, all financial instruments are recorded at their net realizable value. Derivative Financial Instruments The Liquidating Trust’s exposure to fluctuations in market interest rates is limited to its equity investment in 450 W 14 th Revenue Recognition Pursuant to the terms of the lease agreement with respect to its net lease property, the tenant at the property is required to pay all costs associated with the property including property taxes, ground rent, maintenance costs and insurance. These costs are not reflected in the consolidated financial statements. To the extent any of this tenant defaults under its lease and fails to pay such costs, the Liquidating Trust will record a liability for such obligations. Under liquidation accounting, the Liquidating Trust has accrued all income that it expects to earn through the end of liquidation to the extent it has a reasonable basis for estimation. These amounts are classified in liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Income Taxes Given the organizational structure, the Liquidating Trust will be treated as a partnership for federal and state income tax purposes. Accordingly, no provision or benefit for income taxes is made in the consolidated financial statements as taxable income or loss passes through to, and is the responsibility of, the unitholders. Winthrop and the Liquidating Trust reviewed its tax positions under accounting guidance which require that a tax position may only be recognized in the financial statements if it is more likely than not that the tax position will prevail if challenged by taxing authorities. Winthrop and the Liquidating Trust believe it is more likely than not that its tax positions will be sustained in any tax examination. Winthrop and the Liquidating Trust had no deferred tax assets or deferred tax liabilities associated with any such uncertain tax positions for the operations of any entity included in the Consolidated Financial Statements. Winthrop’s and the Liquidating Trust’s tax returns are subject to audit by taxing authorities. The tax years 2015 – 2018 remain open to examination by major taxing jurisdictions to which Winthrop and the Liquidating Trust were subject.

Liability for Estimated Costs i

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	4. Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation The liquidation basis of accounting requires the Liquidating Trust to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation. The Liquidating Trust currently estimates that it will have costs in excess of estimated receipts during the liquidation. These amounts can vary significantly due to, among other things, the timing and estimates for executing and renewing leases, estimates of tenant improvement costs, the timing of property sales, direct costs incurred to complete the sales, the timing and amounts associated with discharging known and contingent liabilities and the costs associated with the winding up of operations. These costs are estimated and are anticipated to be paid out over the liquidation period. As of December 31, 2018 and 2017, the Liquidating Trust had accrued the following revenues and expenses expected to be earned or incurred during liquidation (in thousands): December 31, December 31, Rents and reimbursements $ 1,225 $ 2,694 Interest income — 513 Property operating expenses (37 ) (36 ) Interest expense (221 ) (1,101 ) General and administrative expenses (939 ) (17,992 ) Sales costs (298 ) (684 ) Liability for estimated costs in excess of estimated receipts during liquidation $ (270 ) $ (16,606 ) The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2018 is as follows (in thousands): December 31, Cash Payments Remeasurement December 31, Assets: Estimated net inflows from investments in real estate and loan receivable $ 1,555 $ (1,939 ) $ 1,353 $ 969 Liabilities: Sales costs (684 ) 420 (34 ) (298 ) Corporate expenditures (17,477 ) 11,172 5,364 (941 ) (18,161 ) 11,592 5,330 (1,239 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (16,606 ) $ 9,653 $ 6,683 $ (270 ) The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2017 is as follows (in thousands): December 31, Cash Payments Remeasurement December 31, Assets: Estimated net inflows from investments in real estate, loans receivable and secured financing receivable $ 3,392 $ (2,379 ) $ 542 $ 1,555 Liabilities: Sales costs (2,851 ) 2,027 140 (684 ) Corporate expenditures (23,727 ) 3,669 2,581 (17,477 ) (26,578 ) 5,696 2,721 (18,161 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (23,186 ) $ 3,317 $ 3,263 $ (16,606 )

Net Assets in Liquidation

Net Assets in Liquidation	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net Assets in Liquidation	5. Net Assets in Liquidation Net assets in liquidation decreased by $252,016,000 during the year ended December 31, 2018. The primary reason for the decline in net assets was due to liquidating distributions to holders of Units of $220,372,000, a $30,910,000 net decrease in the liquidation value of equity investments, a $7,114,000 net decrease in the liquidation value of investments in real estate and a $303,000 net decrease in the liquidation value of loans receivable. These decreases were partially offset by a $6,683,000 decrease in estimated corporate expenditures resulting primarily from decreases in estimated fees payable to FUR Advisors as a result of decreases in liquidation values of certain investments. Net assets in liquidation decreased by $63,486,000 during the year ended December 31, 2017. The primary reason for the decline in net assets was due to liquidating distributions to holders of Units of $54,727,000, a $11,049,000 net decrease in the liquidation value of equity investments and a $1,519,000 net decrease in the liquidation value of investments in real estate. These decreases were partially offset by a $2,581,000 decrease in estimated corporate expenditures resulting primarily from decreases in estimated fees payable to FUR Advisors as a result of decreases in liquidation values of certain investments. There were 36,425,084 Units outstanding at December 31, 2018 and 2017. The net assets in liquidation at December 31, 2018 would result in liquidating distributions of approximately $0.34 per Unit. The net assets in liquidation as of December 31, 2018 and 2017 of $12,425,000 and $264,441,000, respectively, plus the cumulative liquidating distributions to holders of Units or Common Shares from August 5, 2014 through December 31, 2018 and 2017 of $612,033,000 ($16.80 per Common Share/Unit) and $391,661,000 ($10.75 per Common Share/Unit), respectively, would result in cumulative liquidating distributions to holders of Units/Common Shares of $17.14 and $18.01 per Unit or Common Share as of December 31, 2018 and 2017, respectively. This estimate of liquidating distributions includes projections of income and expenses to be earned or incurred during the period required to complete the plan of liquidation. There is inherent uncertainty with these projections, and they could change materially based on the timing of sales, the performance of underlying assets and any changes in the underlying assumptions of the projected cash flows.

Investment and Disposition Acti

Investment and Disposition Activities	12 Months Ended
	Dec. 31, 2018
Extractive Industries [Abstract]
Investment and Disposition Activities	6. Investment and Disposition Activities 2018 Transactions 701 Seventh Avenue, New York, New York – property sale 1050 Corporetum, Lisle, Illinois – foreclosure – Plantation, Florida – property sale – Jacksonville, Florida – loan sale – Concord Debt Holdings and CDH CDO LLC – loan sales – 2017 Transactions Orlando, Florida – property sale – 550-650 550-650 Summit Pointe Apartments, Oklahoma City, Oklahoma – property sale Mosaic Apartments, Houston, Texas – property sale RE CDO – loan repayment – 701 Seventh Avenue, New York, New York – capital contributions

Loan Receivable

Loan Receivable	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Loan Receivable	7. Loan Receivable The Liquidating Trust had no loans receivable at December 31, 2018. The loan receivable at December 31, 2017 was as follows (in thousands): Description Loan Position Stated Carrying Amount (2) Contratual December 31, December 31, Jacksonville (3) Whole Loan LIBOR + 5 % $ — $ 8,400 07/01/19 $ — $ 8,400 (1) The one-month (2) The carrying amount represented the estimated amount expected to be collected on disposition of the loan plus contractual interest receivable. (3) The loan had an interest rate floor of 6% and an interest rate ceiling of 8%. The carrying amount of the loan receivable at December 31, 2017 represents the estimated amount expected to be collected on disposition of the loan. There was no accrued interest at December 31, 2017. The weighted average coupon as calculated on the par value of the loan receivable was 6.00% at December 31, 2017, and the weighted average yield to maturity as calculated on the carrying value of the loan receivable was 6.00% at December 31, 2017. Loan Receivable Activity Activity related to loans receivable is as follows (in thousands): Year Ended Year Ended Balance at beginning of year $ 8,400 $ 8,400 Purchase and advances — — Interest received, net — — Repayments/sale proceeds (8,097 ) — Change in liquidation value (303 ) — Balance at end of year $ — $ 8,400 Credit Quality of Loan Receivable Under liquidation accounting, the Liquidating Trust carried its loan receivable at the estimated amount of principal payments it expected to receive over the holding period of the loan. The Liquidating Trust utilized a grading system to assess the collectability of its loan portfolio. Grading categories included debt yield, debt service coverage ratio, length of loan, property type, loan type, and other more subjective variables that included property or collateral location, market conditions, industry conditions, and sponsor’s financial stability. Management reviewed each category and assigned an overall numeric grade to determine the loan’s risk of loss and to provide a determination as to whether the loan required an adjustment to the recorded liquidation value. All loans with a positive score did not require a loan loss allowance. Any loan graded with a neutral score or “zero” was subject to further review of the collectability of the interest and principal based on current conditions and qualitative factors. Any change in the credit quality of the loan receivable that changes the Liquidating Trust’s estimate of the amount it expects to collect will be recorded as a change to the liquidation value of its loan receivable. The Liquidating Trust had no loans receivable at December 31, 2018. The table below summarizes the Liquidating Trust’s loan receivable by internal credit rating at December 31, 2017 (in thousands, except for number of loans): December 31, 2017 Internal Credit Quality Number of Liquidation Greater than zero 1 $ 8,400 Equal to zero — — Less than zero — — 1 $ 8,400

Equity Investments

Equity Investments	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments	8. Equity Investments Under liquidation accounting, equity investments are carried at net realizable value. The Liquidating Trust’s nominal ownership percentages in its equity investments consist of the following at December 31, 2018 and December 31, 2017: Venture Partner Equity Investment Nominal % Nominal % Marc Realty Atrium Mall LLC 50.0% 50.0% New Valley/Witkoff (1) 701 Seventh WRT Investor LLC 79.7% 79.7% Serure/C&B High Line 446 High Line LLC 80.0% 83.8% Inland Concord Debt Holdings LLC N/A 66.6% Inland CDH CDO LLC N/A 49.6% (1) The investment in this venture provides the Liquidating Trust with a 0% and 60.08% effective economic ownership interest in the underlying property at December 31, 2018 and 2017, respectively. See Note 6 – “Investment and Disposition Activities” for information relating to 2018 and 2017 activity with respect to equity investments.

Mortgage Loans Payable

Mortgage Loans Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Mortgage Loans Payable	9. Mortgage Loans Payable Mortgage loans payable are carried at their contractual amounts due under liquidation accounting. The Liquidating Trust had outstanding mortgage loans payable of $3,979,000 and $19,663,000 at December 31, 2018 and 2017, respectively. The mortgage loan payments of principal and interest are generally due monthly and are collateralized by applicable real estate of the Liquidating Trust. The Liquidating Trust’s mortgage loans payable at December 31, 2018 and 2017 are summarized as follows (in thousands): Location of Collateral Maturity Interest Rate at December 31, December 31, Churchill, PA Aug 2024 5.78 % $ 3,979 $ 4,356 Lisle, IL (1) Mar 2017 — — 5,216 Plantation, FL (2) Apr 2041 — — 10,091 $ 3,979 $ 19,663 (1) The property was foreclosed upon in February 2018. (2) The property was sold in September 2018. The following table summarizes future principal repayments of mortgage loans payable as of December 31, 2018 (in thousands): Year Amount 2019 $ 523 2020 616 2021 715 2022 778 2023 799 Thereafter 548 $ 3,979

Federal and State Income Taxes

Federal and State Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal and State Income Taxes	10. Federal and State Income Taxes The Liquidating Trust is treated as a partnership for federal and state income tax purposes. Accordingly, no provision or benefit for income taxes is made in the consolidated financial statements. All distributions from the Liquidating Trust in 2017 and 2016 are considered a return of capital for tax purposes. Unitholders will receive a Schedule K-1

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies The Liquidating Trust’s venture which owns the property located at 450 W 14 th The Liquidating Trust is involved from time to time in litigation on various matters, including disputes with tenants and disputes arising out of agreements to purchase or sell properties. Given the nature of the Liquidating Trust’s business activities, these lawsuits are considered routine to the conduct of its business. The result of any particular lawsuit cannot be predicted because of the very nature of litigation, the litigation process and its adversarial nature, and the jury system. The Liquidating Trust does not expect that the liabilities, if any, that may ultimately result from such legal actions will have a material adverse effect on its financial condition or results of operations. See Note 12 – Related-Party Transactions for details on potential fees payable to FUR Advisors. In 2011 Winthrop was conveyed title to the land underlying the Churchill, Pennsylvania property. Prior to the conveyance of the land, a Phase II environmental study was performed. The study found that there were certain contaminants at the property all of which were within permitted ranges. In addition, given the nature and use of the property currently and in the past as a laboratory that analyzes components and machinery that were utilized at nuclear power plants, it is possible that there may be contamination that could require remediation.

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	12. Related-Party Transactions The activities of the Liquidating Trust are administered by FUR Advisors pursuant to the terms of the Advisory Agreement between Winthrop and FUR Advisors. FUR Advisors is majority owned by Winthrop’s former executive officers and senior management, including two of the Liquidating Trust’s Trustees. Pursuant to the terms of the Advisory Agreement, FUR Advisors is responsible for providing asset management services to the Liquidating Trust and coordinating with the Liquidating Trust’s unitholder transfer agent and property managers. FUR Advisors is entitled to receive a base management fee and a termination fee and/or an incentive fee in accordance with the terms of the Advisory Agreement. In addition, FUR Advisors or its affiliate is entitled to receive property and construction management fees subject to the approval of the Trustees. Base Asset Management Fee – In connection with the adoption of the plan of liquidation, the Liquidating Trust accrues costs it expects to incur through the end of the liquidation. In this regard, at December 31, 2018 the Liquidating Trust has not accrued any base management fees. Incentive Fee / Termination Fee – On May 2, 2018 the Advisor was paid a termination fee of $9,496,000. The termination fee was payable equal to the lesser of (i) the base management fee paid to our Advisor for the twelve month period immediately prior to the approved plan of liquidation or (ii) 20% of any liquidating distributions paid on account of our Units at such time as the threshold amount was reduced to $104,980,000. No additional termination fee payments will be paid. Property Management and Construction Management – The following table sets forth the fees and reimbursements paid or accrued by the Liquidating Trust for the years ended December 31, 2018 and 2017 to FUR Advisors and Winthrop Management (in thousands): For the Years Ended 2018 2017 Base Asset Management Fee (1) $ 964 $ 3,258 Termination Fee 9,496 — Property Management Fee 227 532 Construction Management Fee — 27 $ 10,687 $ 3,817 (1) Includes fees on third party contributions of $0 and $10 for the years ended December 31, 2018 and 2017, respectively. At December 31, 2018 and 2017, $0 and $751,000, respectively, payable to FUR Advisors and $3,000 and $17,000 respectively, payable to Winthrop Management were included in related party fees payable.

Future Minimum Lease Payments

Future Minimum Lease Payments	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Future Minimum Lease Payments	13. Future Minimum Lease Payments Future minimum lease payments scheduled to be received under non-cancellable Year Amount 2019 1,225 2020 1,262 2021 1,299 2022 1,338 2023 1,379 Thereafter 11,450 $ 17,953 Westinghouse Electric, the tenant at the property in Churchill, Pennsylvania, represented more than 10% of the base commercial rental revenues of the Liquidating Trust for the year ended December 31, 2018 contributing approximately 53.9%.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events The Liquidating Trust has performed an evaluation of subsequent events through the date of issuance of the consolidated financial statements and noted no items requiring adjustment of the consolidated financial statements or additional disclosures.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION At December 31, 2018 (amounts in thousands) Initial Cost to Gross Amounts at Which Carried at Close of Period Location Encumbrance Land Building and Land Building and Accumulated Net Total Date Life Other Churchill, PA 3,979 — 23,834 — 11,705 (4,301 ) 7,404 11/2004 40 yrs Net Liquidation Adjustment (1) 2,520 2,520 Total $ 3,979 $ — $ 23,834 $ — $ 11,705 $ (4,301 ) $ 2,520 $ 9,924 The changes in total real estate for the period January 1, 2018 thru December 31, 2018 are as follows: Balance as of January 1, 2018 $ 32,976,000 Liquidation adjustment, net $ (7,114,000 ) Disposals $ (15,938,000 ) Balance as of December 31, 2018 (liquidation basis) $ 9,924,000 (1) Under the liquidation basis of accounting, our real estate holding are now carried at their estimated value, as a result the net liquidation adjustment is the net adjustment that we have made to the carrying value of the property in order to reflect its fair value. (2) Depreciation expense will not be recorded subsequent to July 31, 2014 as a result of the adoption of our plan of liquidation. SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (amounts in thousands, unaudited) The following is a reconciliation of real estate assets and accumulated depreciation: Year Ended December 31, 2018 2017 2016 Real Estate Balance at beginning of period $ 40,136 $ 200,675 $ 377,446 Additions during the period: Improvements, etc. — (313 ) 3,301 Consolidation of property — — 15,082 Deductions during this period: Cost of real estate sold (18,797 ) (144,923 ) (138,656 ) Asset impairments — (2,861 ) (3,908 ) Liquidation adjustment (7,114 ) (12,442 ) (52,590 ) Balance at end of period $ 14,225 $ 40,136 $ 200,675 Accumulated Depreciation Balance at beginning of period $ 7,160 $ 14,023 $ 23,584 Disposal of properties (2,859 ) (6,863 ) (9,561 ) Balance at end of period $ 4,301 $ 7,160 $ 14,023

Schedule IV Mortgage Loans on R

Schedule IV Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV Mortgage Loans on Real Estate	Schedule IV Mortgage Loans on Real Estate December 31, 2018 (amounts in thousands, unaudited) Reconciliation of Mortgage Loans on Real Estate: The following table reconciles Mortgage Loans for the years ended December 31, 2018, 2017 and 2016. 2018 2017 2016 Balance at January 1 $ 8,400 $ 8,400 $ 5,280 Purchase and advances — 9,035 Interest received, net — (28 ) Repayments / Sale Proceeds (8,097 ) — (5,987 ) Change in liquidation value (303 ) 100 Balance at December 31 $ — $ 8,400 $ 8,400

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been presented on a comparative basis. For periods prior to August 5, 2016, the entity is referred to as Winthrop Realty Trust, and from and after August 5, 2016 the entity is referred to as Winthrop Realty Liquidating Trust (see Note 1). The same basis of accounting have been used to prepare the financial statements for both Winthrop and the Liquidating Trust. The accompanying consolidated financial statements represent the consolidated results of the Liquidating Trust, the Operating Partnership and all majority-owned subsidiaries and affiliates over which the Liquidating Trust have financial and operating control. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying consolidated financial statements only includes information for the liquidation entities. Going concern information for the periods prior to the approval of the plan of liquidation is available in Winthrop’s prior filings with the SEC. As a result of the approval of the plan of liquidation by the shareholders, Winthrop and the Liquidating Trust have adopted the liquidation basis of accounting as of August 1, 2014 and for the periods subsequent to August 1, 2014 in accordance with accounting principles generally accepted in the United States (“GAAP”). Accordingly, on August 1, 2014 assets were adjusted to their estimated net realizable value, or liquidation value, which represents the estimated amount of cash that Winthrop or the Liquidating Trust will collect on disposal of assets as it carries out its plan of liquidation. The liquidation value of the Liquidating Trust’s assets are presented on an undiscounted basis. Estimated costs to dispose of assets have been presented separately from the related assets. Liabilities are carried at their contractual amounts due or estimated settlement amounts. The Liquidating Trust accrues costs and income it expects to incur and earn through the end of liquidation to the extent it has a reasonable basis for estimation. These amounts are classified as a liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Actual costs and income may differ from amounts reflected in the financial statements because of inherent uncertainty in estimating future events. These differences may be material. See Note 4 for further discussion. Actual costs incurred but unpaid as of December 31, 2018 and 2017 are included in accounts payable, accrued liabilities and other liabilities on the Consolidated Statements of Net Assets. In liquidation, the presentation for joint ventures historically consolidated under going concern accounting is determined based on the Liquidating Trust’s planned exit strategy. Those ventures where the Liquidating Trust intends to sell the property are presented on a gross basis with a payable to the non-controlling non-controlling non-controlling Net assets in liquidation represents the estimated liquidation value available to holders of Units upon liquidation. Due to the uncertainty in the timing of the anticipated sale dates and the estimated cash flows, actual operating results and sale proceeds may differ materially from the amounts estimated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the values of assets and liabilities, disclosing contingent assets and liabilities at the date of the consolidated financial statements and the amounts of revenue and expenses during the reporting period. Under liquidation accounting, the Liquidating Trust is required to estimate all costs and income that it expects to incur and earn through the end of liquidation including the estimated amount of cash it will collect on disposal of its assets and estimated costs incurred to dispose of assets. All of the estimates and evaluations are susceptible to change and actual results could differ materially from the estimates and evaluations.
Investments in Real Estate	Investments in Real Estate As of August 1, 2014, the investments in real estate were adjusted to their estimated net realizable value, or liquidation value, to reflect the change to the liquidation basis of accounting. The liquidation value represents the estimated amount of cash that the Liquidating Trust will collect on disposal of its assets, inclusive of any residual value attributable to lease intangibles, as it carries out its plan of liquidation. The liquidation value of the Liquidating Trust’s investments in real estate are presented on an undiscounted basis and investments in real estate are no longer depreciated. Estimated costs to dispose of these investments are presented separately from the related assets and are classified as part of liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statement of Net Assets. Subsequent to August 1, 2014, all changes in the estimated liquidation value of the investments in real estate are reflected as a change to the Liquidating Trust’s net assets in liquidation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments purchased with original maturities of three months or less. The Liquidating Trust maintains cash and cash equivalents in financial institutions in excess of insured limits, but believes this risk is mitigated by only investing in or through major financial institutions.
Restricted Cash	Restricted Cash Restricted cash in escrow accounts include cash reserves for tenant improvements, leasing commissions, real estate taxes and other expenses pursuant to the loan agreements. In addition, certain security deposit accounts are classified as restricted cash.
Loan Receivable	Loan Receivable Under liquidation accounting, the Liquidating Trust carried its loan receivable at its estimated net realizable value, or liquidation value, which represented the estimated amount of principal payments the Liquidating Trust expected to receive over the hold period of the loan. The liquidation value of the Liquidating Trust’s loan receivable was presented on an undiscounted basis. Interest payments that the Liquidating Trust expected to receive on its loan receivable over the estimated hold period of the loan were accrued and were classified as part of liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. As interest was earned, it was reclassified and included in loan receivable on the Consolidated Statements of Net Assets. The Liquidating Trust evaluated the collectability of the interest and principal of its loan. Any changes in collectability were reflected as a change to the Liquidating Trust’s net assets in liquidation.
Accounts Receivable	Accounts Receivable In accordance with liquidation accounting, as of August 1, 2014, accounts receivable were adjusted to their net realizable value. The Liquidating Trust continues to review its accounts receivable monthly. Past due balances are reviewed individually for collectability. Any changes in the collectability of the receivables are reflected in the net realizable value of the accounts receivable. Accrued rental income is not contemplated under liquidation accounting. The Liquidating Trust accrues rental revenue based on contractual amounts expected to be collected during liquidation.
Equity Investments	Equity Investments The Liquidating Trust accounts for its investments in entities in which it has the ability to significantly influence, but does not have a controlling interest, by using the equity method of accounting. Factors that are considered in determining whether or not the Liquidating Trust exercises control include (i) the right to remove the general partner or managing member in situations where the Liquidating Trust is not the general partner or managing member, and (ii) substantive participating rights of equity holders in significant business decisions including dispositions and acquisitions of assets, financing, operations and capital budgets, and other contractual rights. Subsequent to the adoption of liquidation accounting, equity investments are recorded at their net realizable value. The Liquidating Trust evaluates the net realizable value of its equity investments at each reporting period. Any changes in net realizable value will be reflected as a change to the Liquidating Trust’s net assets in liquidation.
Financial Instruments	Financial Instruments Financial instruments held by the Liquidating Trust include cash and cash equivalents, accounts receivable, accounts payable and long term debt. Under liquidation accounting, all financial instruments are recorded at their net realizable value.
Derivative Financial Instruments	Derivative Financial Instruments The Liquidating Trust’s exposure to fluctuations in market interest rates is limited to its equity investment in 450 W 14 th
Revenue Recognition	Revenue Recognition Pursuant to the terms of the lease agreement with respect to its net lease property, the tenant at the property is required to pay all costs associated with the property including property taxes, ground rent, maintenance costs and insurance. These costs are not reflected in the consolidated financial statements. To the extent any of this tenant defaults under its lease and fails to pay such costs, the Liquidating Trust will record a liability for such obligations. Under liquidation accounting, the Liquidating Trust has accrued all income that it expects to earn through the end of liquidation to the extent it has a reasonable basis for estimation. These amounts are classified in liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets.
Income Taxes	Income Taxes Given the organizational structure, the Liquidating Trust will be treated as a partnership for federal and state income tax purposes. Accordingly, no provision or benefit for income taxes is made in the consolidated financial statements as taxable income or loss passes through to, and is the responsibility of, the unitholders. Winthrop and the Liquidating Trust reviewed its tax positions under accounting guidance which require that a tax position may only be recognized in the financial statements if it is more likely than not that the tax position will prevail if challenged by taxing authorities. Winthrop and the Liquidating Trust believe it is more likely than not that its tax positions will be sustained in any tax examination. Winthrop and the Liquidating Trust had no deferred tax assets or deferred tax liabilities associated with any such uncertain tax positions for the operations of any entity included in the Consolidated Financial Statements. Winthrop’s and the Liquidating Trust’s tax returns are subject to audit by taxing authorities. The tax years 2015 – 2018 remain open to examination by major taxing jurisdictions to which Winthrop and the Liquidating Trust were subject.

Liability for Estimated Costs_2

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Summary of Accrued Revenues and Expenses Expected to Incur During Liquidation	As of December 31, 2018 and 2017, the Liquidating Trust had accrued the following revenues and expenses expected to be earned or incurred during liquidation (in thousands): December 31, December 31, Rents and reimbursements $ 1,225 $ 2,694 Interest income — 513 Property operating expenses (37 ) (36 ) Interest expense (221 ) (1,101 ) General and administrative expenses (939 ) (17,992 ) Sales costs (298 ) (684 ) Liability for estimated costs in excess of estimated receipts during liquidation $ (270 ) $ (16,606 )
Schedule of Changes in Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2018 is as follows (in thousands): December 31, Cash Payments Remeasurement December 31, Assets: Estimated net inflows from investments in real estate and loan receivable $ 1,555 $ (1,939 ) $ 1,353 $ 969 Liabilities: Sales costs (684 ) 420 (34 ) (298 ) Corporate expenditures (17,477 ) 11,172 5,364 (941 ) (18,161 ) 11,592 5,330 (1,239 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (16,606 ) $ 9,653 $ 6,683 $ (270 ) The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2017 is as follows (in thousands): December 31, Cash Payments Remeasurement December 31, Assets: Estimated net inflows from investments in real estate, loans receivable and secured financing receivable $ 3,392 $ (2,379 ) $ 542 $ 1,555 Liabilities: Sales costs (2,851 ) 2,027 140 (684 ) Corporate expenditures (23,727 ) 3,669 2,581 (17,477 ) (26,578 ) 5,696 2,721 (18,161 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (23,186 ) $ 3,317 $ 3,263 $ (16,606 )

Loan Receivable (Tables)

Loan Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Summary of Loan Receivable	The loan receivable at December 31, 2017 was as follows (in thousands): Description Loan Position Stated Carrying Amount (2) Contratual December 31, December 31, Jacksonville (3) Whole Loan LIBOR + 5 % $ — $ 8,400 07/01/19 $ — $ 8,400 (1) The one-month (2) The carrying amount represented the estimated amount expected to be collected on disposition of the loan plus contractual interest receivable. (3) The loan had an interest rate floor of 6% and an interest rate ceiling of 8%.
Activity Related to Loans Receivable	Activity related to loans receivable is as follows (in thousands): Year Ended Year Ended Balance at beginning of year $ 8,400 $ 8,400 Purchase and advances — — Interest received, net — — Repayments/sale proceeds (8,097 ) — Change in liquidation value (303 ) — Balance at end of year $ — $ 8,400
Loan Receivable by Internal Credit Rating	The table below summarizes the Liquidating Trust’s loan receivable by internal credit rating at December 31, 2017 (in thousands, except for number of loans): December 31, 2017 Internal Credit Quality Number of Liquidation Greater than zero 1 $ 8,400 Equal to zero — — Less than zero — — 1 $ 8,400

Equity Investments (Tables)

Equity Investments (Tables)	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Liquidating Trust's Nominal Ownership Percentages in its Equity Investments	The Liquidating Trust’s nominal ownership percentages in its equity investments consist of the following at December 31, 2018 and December 31, 2017: Venture Partner Equity Investment Nominal % Nominal % Marc Realty Atrium Mall LLC 50.0% 50.0% New Valley/Witkoff (1) 701 Seventh WRT Investor LLC 79.7% 79.7% Serure/C&B High Line 446 High Line LLC 80.0% 83.8% Inland Concord Debt Holdings LLC N/A 66.6% Inland CDH CDO LLC N/A 49.6% (1) The investment in this venture provides the Liquidating Trust with a 0% and 60.08% effective economic ownership interest in the underlying property at December 31, 2018 and 2017, respectively.

Mortgage Loans Payable (Tables)

Mortgage Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Mortgage Loans Payable	The Liquidating Trust’s mortgage loans payable at December 31, 2018 and 2017 are summarized as follows (in thousands): Location of Collateral Maturity Interest Rate at December 31, December 31, Churchill, PA Aug 2024 5.78 % $ 3,979 $ 4,356 Lisle, IL (1) Mar 2017 — — 5,216 Plantation, FL (2) Apr 2041 — — 10,091 $ 3,979 $ 19,663 (1) The property was foreclosed upon in February 2018. (2) The property was sold in September 2018.
Summary of the Future Principal Repayments Of Mortgage Loans Payable	The following table summarizes future principal repayments of mortgage loans payable as of December 31, 2018 (in thousands): Year Amount 2019 $ 523 2020 616 2021 715 2022 778 2023 799 Thereafter 548 $ 3,979

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Fees and Reimbursements Paid or Accrued by Liquidating Trust	The following table sets forth the fees and reimbursements paid or accrued by the Liquidating Trust for the years ended December 31, 2018 and 2017 to FUR Advisors and Winthrop Management (in thousands): For the Years Ended 2018 2017 Base Asset Management Fee (1) $ 964 $ 3,258 Termination Fee 9,496 — Property Management Fee 227 532 Construction Management Fee — 27 $ 10,687 $ 3,817 (1) Includes fees on third party contributions of $0 and $10 for the years ended December 31, 2018 and 2017, respectively.

Future Minimum Lease Payments (

Future Minimum Lease Payments (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Future Minimum Lease Payments	Future minimum lease payments scheduled to be received under non-cancellable Year Amount 2019 1,225 2020 1,262 2021 1,299 2022 1,338 2023 1,379 Thereafter 11,450 $ 17,953

Plan of Liquidation - Additiona

Plan of Liquidation - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
Business Acquisition [Line Items]
Liquidation date on which disposition of assets completes	Aug. 5, 2016
Description of liquidation plan	The Liquidating Trust will terminate upon the earlier of (i) the distribution of all of the remaining assets of the Liquidating Trust in accordance with the terms of the Liquidating Trust Agreement, or (ii) August 5, 2019. The Liquidating Trust may be extended beyond August 5, 2019 if the Trustees of the Liquidating Trust determine that an extension is reasonably necessary to fulfill the purpose of the Liquidating Trust. Although no assurances can be given, it is anticipated that the Liquidating Trust will be extended and the liquidation will be completed by December 31, 2019.
Liquidating Trust [Member]
Business Acquisition [Line Items]
Liquidation date on which disposition of assets completes	Dec. 31, 2018

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Aug. 01, 2014
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Original maturity period of highly liquid investments	Three months or less
Derivative financial instruments		$ 0
Deferred tax assets and liabilities, net	$ 0
Liquidation Value [Member]
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Provision or benefit for income taxes	$ 0

Liability for Estimated Costs_3

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation - Summary of Accrued Revenues and Expenses Expected to Incur During Liquidation (Detail) - Liquidation Value [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Liquidation Basis Of Accounting [Line Items]
Rents and reimbursements	$ 1,225	$ 2,694
Interest income		513
Property operating expenses	(37)	(36)
Interest expense	(221)	(1,101)
General and administrative expenses	(939)	(17,992)
Sales costs	(298)	(684)
Liability for estimated costs in excess of estimated receipts during liquidation	$ (270)	$ (16,606)

Liability for Estimated Costs_4

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation - Schedule of Changes in Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Remeasurement of Assets and Liabilities	$ (6,683)	$ (2,581)
Liquidation Value [Member]
Business Acquisition [Line Items]
Total liability for estimated costs in excess of estimated receipts during liquidation, beginning balance	(16,606)	(23,186)
Cash Payments (Receipts)	(9,653)	(3,317)
Remeasurement of Assets and Liabilities	(6,683)	(3,263)
Total liability for estimated costs in excess of estimated receipts during liquidation, ending balance	(270)	(16,606)
Liquidation Value [Member] | Assets [Member]
Business Acquisition [Line Items]
Estimated net inflows from investments in real estate, loans receivable and secured financing receivable, beginning balance	1,555	3,392
Cash Payments (Receipts)	(1,939)	(2,379)
Remeasurement of Assets and Liabilities	1,353	542
Estimated net inflows from investments in real estate, loans receivable and secured financing receivable, ending balance	969	1,555
Liability [Member] | Liquidation Value [Member]
Business Acquisition [Line Items]
Total liability for estimated costs, beginning balance	(18,161)	(26,578)
Cash Payments (Receipts)	11,592	5,696
Remeasurement of Assets and Liabilities	5,330	2,721
Total liability for estimated costs, ending balance	(1,239)	(18,161)
Liability [Member] | Liquidation Value [Member] | Sales Costs [Member]
Business Acquisition [Line Items]
Total liability for estimated costs, beginning balance	(684)	(2,851)
Cash Payments (Receipts)	420	2,027
Remeasurement of Assets and Liabilities	(34)	140
Total liability for estimated costs, ending balance	(298)	(684)
Liability [Member] | Liquidation Value [Member] | Corporate Expenditures [Member]
Business Acquisition [Line Items]
Total liability for estimated costs, beginning balance	(17,477)	(23,727)
Cash Payments (Receipts)	11,172	3,669
Remeasurement of Assets and Liabilities	5,364	2,581
Total liability for estimated costs, ending balance	$ (941)	$ (17,477)

Net Assets in Liquidation - Add

Net Assets in Liquidation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reorganizations [Abstract]
Increase (Decrease) in net assets on liquidation	$ (252,016)	$ (63,486)
Liquidating distributions to holders of Shares/Units	220,372	54,727
Change in liquidation value of equity investments	(30,910)	(11,049)
Change in liquidation value of investments in real estate	(7,114)	(1,519)
Change in liquidation value of loans receivable	(303)		$ 100
Remeasurement of assets and liabilities	$ 6,683	2,581
Liquidation distribution per unit	$ 0.34
Net assets in liquidation	$ 12,425	264,441
Additional cumulative liquidating distributions to holders of Units or Common Shares	$ 612,033	$ 391,661
Additional cumulative liquidating distribution per share/unit	$ 16.80	$ 10.75
Cumulative liquidating distribution per units/share	$ 17.14	$ 18.01
Common shares, outstanding	36,425,084	36,425,084

Investment and Disposition Ac_2

Investment and Disposition Activities - Additional Information (Detail) - USD ($)

Oct. 11, 2018

Sep. 04, 2018

May 01, 2018

Mar. 02, 2018

Nov. 09, 2017

Aug. 14, 2017

Jul. 12, 2017

Jun. 29, 2017

Apr. 30, 2018

Dec. 31, 2018

Dec. 31, 2017

Feb. 20, 2018

Dec. 31, 2016

Concord Debt Holdings and CDH CDO LLC [Member]

Investment And Disposition Activities [Line Items]

Liquidation value of property

$ 329,000

Aggregate distributions from venture

$ 812,000

New York, NY [Member] | 701 Seventh WRT Investor LLC [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 1,530,000,000

Proceeds placed in escrow

63,700,000

Proceeds from sale of real estate, net

200,000,000

New York, NY [Member] | 701 Seventh WRT Investor LLC [Member] | Joint Venture [Member]

Investment And Disposition Activities [Line Items]

Proceeds from purchase money note

$ 16,958,000

$ 75,000,000

Additional capital contributions

$ 1,667,000

5,834,000

Capital contributions

$ 136,003,000

134,336,000

New York, NY [Member] | 701 Seventh WRT Investor LLC [Member] | Joint Venture [Member] | Maximum [Member]

Investment And Disposition Activities [Line Items]

Capital contributions

137,256,000

Lisle Illinois [Member] | 1050 Corporetum [Member]

Investment And Disposition Activities [Line Items]

Ownership percentage in real estate investment

60.00%

Lisle Illinois [Member] | 550 - 650 Corporetum [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 9,300,000

Proceeds from sale of real estate, net

$ 7,920,000

Liquidation value of property

$ 8,940,000

Oklahoma [Memebr] | Summit Pointe Apartments [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 17,550,000

Proceeds from sale of real estate, net

$ 5,824,000

Ownership percentage in real estate investment

80.00%

Plantation, Florida [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 11,250,000

Proceeds from sale of real estate, net

$ 1,074,000

Liquidation value of property

18,364,000

Jacksonville, Florida [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 8,097,000

Proceeds from sale of real estate, net

$ 8,080,000

Liquidation value of property

8,400,000

Orlando Florida [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 34,807,000

Proceeds from sale of real estate, net

$ 62,000

Liquidation value of property

35,053,000

Houston Texas [Member] | Mosaic Apartments [Member]

Investment And Disposition Activities [Line Items]

Proceeds from sale of real estate, gross

$ 90,500,000

Proceeds from sale of real estate, net

$ 37,178,000

Ownership percentage in real estate investment

83.70%

Liquidation value of property

$ 91,200,000

Las Vegas Nevada [Member] | RE CDO [Member]

Investment And Disposition Activities [Line Items]

Aggregate distributions from venture

$ 2,118,000

Las Vegas Nevada [Member] | RE CDO [Member] | Mortgage Loans Payable [Member]

Investment And Disposition Activities [Line Items]

Interest Rate

5.52%

Loan Receivable - Additional In

Loan Receivable - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2016
Receivables [Abstract]
Loan receivable, net	$ 8,400,000	$ 0	$ 8,400,000
Loans receivable, accrued interest	$ 0
Weighted average coupon rate on loans receivable	6.00%
Weighted average yield to maturity	6.00%

Loan Receivable - Summary of Lo

Loan Receivable - Summary of Loan Receivable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, net	$ 0	$ 8,400	$ 8,400
Jacksonville, Florida [Member] | Whole Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, net		$ 8,400
Contractual Maturity Date	Jul. 1, 2019
Jacksonville, Florida [Member] | Whole Loan [Member] | LIBOR [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate spread on LIBOR based mortgage loans		5.00%

Loan Receivable - Summary of _2

Loan Receivable - Summary of Loan Receivable (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Jacksonville, Florida [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ceiling rate, percentage	8.00%
Whole Loan [Member] | Jacksonville, Florida [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
LIBOR floor, percentage	6.00%
Mortgage Loans Payable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
LIBOR rate		1.56425%

Loan Receivable - Activity Rela

Loan Receivable - Activity Related to Loans Receivable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Balance at beginning of year	$ 8,400	$ 8,400
Purchase and advances	0	0
Interest received, net	0	0
Repayments/sale proceeds	(8,097)		$ (5,987)
Change in liquidation value	(303)		100
Balance at end of year	$ 0	$ 8,400	$ 8,400

Loan Receivable - Loan Receivab

Loan Receivable - Loan Receivable by Internal Credit Rating (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)SecurityLoan	Dec. 31, 2018USD ($)	Dec. 31, 2016USD ($)
Financing Receivable, Recorded Investment [Line Items]
Number of Loans | SecurityLoan	1
Liquidation Value of Loans Receivable | $	$ 8,400	$ 0	$ 8,400
Greater than Zero [Member]
Financing Receivable, Recorded Investment [Line Items]
Number of Loans | SecurityLoan	1
Liquidation Value of Loans Receivable | $	$ 8,400

Equity Investments - Liquidatin

Equity Investments - Liquidating Trust's Nominal Ownership Percentages in its Equity Investments (Detail)	Dec. 31, 2018	Dec. 31, 2017
Atrium Mall LLC [Member] | Marc Realty [Member]
Schedule of Equity Method Investments [Line Items]
Nominal % Ownership	50.00%	50.00%
701 Seventh WRT Investor LLC [Member] | New Valley/Witkoff [Member]
Schedule of Equity Method Investments [Line Items]
Nominal % Ownership	79.70%	79.70%
446 High Line LLC [Member] | Serure CB High Line [Member]
Schedule of Equity Method Investments [Line Items]
Nominal % Ownership	80.00%	83.80%
Concord Debt Holdings LLC [Member] | Inland [Member]
Schedule of Equity Method Investments [Line Items]
Nominal % Ownership	0.00%	66.60%
CDH CDO LLC [Member] | Inland [Member]
Schedule of Equity Method Investments [Line Items]
Nominal % Ownership	0.00%	49.60%

Equity Investments - Liquidat_2

Equity Investments - Liquidating Trust's Nominal Ownership Percentages in its Equity Investments (Parenthetical) (Detail) - New Valley/Witkoff [Member] - 701 Seventh WRT Investor LLC [Member]	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Effective ownership interest of trust in underlying property	0.00%
Winthrop Realty Trust [Member]
Schedule of Equity Method Investments [Line Items]
Effective ownership interest of trust in underlying property		60.08%

Mortgage Loans Payable - Additi

Mortgage Loans Payable - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Mortgage loans payable	$ 3,979	$ 19,663

Mortgage Loans Payable - Mortga

Mortgage Loans Payable - Mortgage Loans Payable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Mortgage loans payable	$ 3,979	$ 19,663
Mortgage Loans Payable [Member]
Debt Instrument [Line Items]
Mortgage loans payable	$ 3,979
Mortgage Loans Payable [Member] | Winthrop Realty Trust [Member]
Debt Instrument [Line Items]
Mortgage loans payable		19,663
Mortgage Loans Payable [Member] | Lisle IL [Member]
Debt Instrument [Line Items]
Maturity	Mar 2017
Mortgage Loans Payable [Member] | Lisle IL [Member] | Winthrop Realty Trust [Member]
Debt Instrument [Line Items]
Mortgage loans payable		5,216
Mortgage Loans Payable [Member] | Plantation FL [Member]
Debt Instrument [Line Items]
Maturity	Apr 2041
Mortgage Loans Payable [Member] | Plantation FL [Member] | Winthrop Realty Trust [Member]
Debt Instrument [Line Items]
Mortgage loans payable		10,091
Mortgage Loans Payable [Member] | 5.78% Loan Due in Aug 2024 [Member] | Churchill [Member]
Debt Instrument [Line Items]
Maturity	Aug 2024
Interest Rate	5.78%
Mortgage loans payable	$ 3,979
Mortgage Loans Payable [Member] | 5.78% Loan Due in Aug 2024 [Member] | Churchill [Member] | Winthrop Realty Trust [Member]
Debt Instrument [Line Items]
Mortgage loans payable		$ 4,356

Mortgage Loans Payable - Summar

Mortgage Loans Payable - Summary of the Future Principal Repayments Of Mortgage Loans Payable (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Debt Disclosure [Abstract]
2019	$ 523
2020	616
2021	715
2022	778
2023	799
Thereafter	548
Future principal repayments	$ 3,979

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Ground lease commitments, 2019	$ 1,225,000
Ground lease commitments, 2020	1,262,000
Ground lease commitments, 2021	1,299,000
Ground lease commitments, 2022	1,338,000
Ground lease commitments, 2023	1,379,000
Ground lease commitments, Thereafter	11,450,000
New York, NY [Member] | Ground Lease [Member]
Property, Plant and Equipment [Line Items]
Ground lease commitments, 2019	1,844,000
Ground lease commitments, 2020	1,900,000
Ground lease commitments, 2021	1,957,000
Ground lease commitments, 2022	2,015,000
Ground lease commitments, 2023	2,076,000
Ground lease commitments, Thereafter	$ 97,836,000
Expiration date	Jun. 1, 2053
Chicago, IL [Member] | Ground Lease [Member]
Property, Plant and Equipment [Line Items]
Ground lease commitments, 2019	$ 440,000
Ground lease commitments, 2020	440,000
Ground lease commitments, 2021	440,000
Ground lease commitments, 2022	440,000
Ground lease commitments, 2023	440,000
Ground lease commitments, Thereafter	$ 4,727,000
Expiration date	Sep. 19, 2034

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	May 02, 2018	May 31, 2018	Dec. 31, 2018	Dec. 31, 2014	Dec. 31, 2017
Related Party Transaction [Line Items]
Management fees			$ 0
FUR Advisors [Member]
Related Party Transaction [Line Items]
Percentage of equity contributions			1.50%
Percentage of equity contributions by unaffiliated third parties			0.25%
Reduction in liquidating distribution amount paid on equity		$ 0
Percentage of amount available for distribution in excess of threshold amount			20.00%
Threshold amount				$ 569,963,000
Percentage of growth rate on incentive fee				4.00%
Yield plus percentage				2.50%
Threshold amount required to be distributed before incentive fee			$ 17,391,000
Per share Threshold amount required to be distributed			$ 0.49
Reduced threshold amount			$ 104,980,000
Percentage of dividends paid on disposition			20.00%
Termination fees	$ 9,496,000
Supplemental fee payment terms, description			Payable equal to the lesser of (i) the base management fee paid to our Advisor for the twelve month period immediately prior to the approved plan of liquidation or (ii) 20% of any liquidating distributions paid on account of our Units at such time as the threshold amount was reduced to $104,980,000. No additional termination fee payments will be paid.
Payable to related parties included in related party fees payable			$ 0		$ 751,000
FUR Advisors [Member] | US Treasury Bill Securities [Member]
Related Party Transaction [Line Items]
Period for growth factor on incentive				5 years
Winthrop Management LP [Member]
Related Party Transaction [Line Items]
Payable to related parties included in related party fees payable			$ 3,000		$ 17,000

Related-Party Transactions - Fe

Related-Party Transactions - Fees and Reimbursements Paid or Accrued by Liquidating Trust (Detail) - Winthrop Management [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Fees and reimbursements paid by the Trust	$ 10,687	$ 3,817
Base Asset Management Fee [Member]
Related Party Transaction [Line Items]
Fees and reimbursements paid by the Trust	964	3,258
Property Management Fee [Member]
Related Party Transaction [Line Items]
Fees and reimbursements paid by the Trust	227	532
Termination Fee [Member]
Related Party Transaction [Line Items]
Fees and reimbursements paid by the Trust	$ 9,496
Construction Management Fee [Member]
Related Party Transaction [Line Items]
Fees and reimbursements paid by the Trust		$ 27

Related-Party Transactions - _2

Related-Party Transactions - Fees and Reimbursements Paid or Accrued by Liquidating Trust (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
FUR Advisors [Member]
Related Party Transaction [Line Items]
Management fee paid	$ 0	$ 10

Future Minimum Lease Payments -

Future Minimum Lease Payments - Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 1,225
2020	1,262
2021	1,299
2022	1,338
2023	1,379
Thereafter	11,450
Total	$ 17,953

Future Minimum Lease Payments_2

Future Minimum Lease Payments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
Westinghouse Electric [Member]
Future Minimum Leases Payments Under Leases [Line Items]
Total contribution of base commercial rental	53.90%

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Accumulated Depreciation		$ (4,301)	$ (7,160)	$ (14,023)	$ (23,584)
Net Liquidation Adjustment		(7,114,000)
Total		14,225	$ 40,136	$ 200,675	$ 377,446
Other [Member] | Churchill [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		3,979
Initial Cost to Company, Land		0
Initial Cost to Company, Building and Improvements		23,834
Land		0
Building and Improvements		11,705
Accumulated Depreciation	[1]	(4,301)
Total		$ 7,404
Date Acquired		2004-11
Life		40 years
Net Liquidation Adjustment [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	[2]	$ 0
Land	[2]	0
Net Liquidation Adjustment	[2]	2,520
Total	[2]	2,520
Liquidation Value [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		3,979
Initial Cost to Company, Land		0
Initial Cost to Company, Building and Improvements		23,834
Land		0
Building and Improvements		11,705
Accumulated Depreciation	[1]	(4,301)
Net Liquidation Adjustment	[2]	2,520
Total		$ 9,924
[1]	Depreciation expense will not be recorded subsequent to July 31, 2014 as a result of the adoption of our plan of liquidation.
[2]	Under the liquidation basis of accounting, our real estate holding are now carried at their estimated value, as a result the net liquidation adjustment is the net adjustment that we have made to the carrying value of the property in order to reflect its fair value.

Schedule III - Changes in Real

Schedule III - Changes in Real Estate (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Beginning balance	$ 32,976,000
Liquidation adjustment, net	(7,114,000)
Disposals	(15,938,000)
Ending balance	$ 9,924,000

Schedule III - Reconciliation o

Schedule III - Reconciliation of Real Estate Assets and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate
Balance at beginning of period	$ 40,136	$ 200,675	$ 377,446
Additions during the period:
Improvements, etc.		(313)	3,301
Consolidation of property			15,082
Deductions during this period:
Cost of real estate sold	(18,797)	(144,923)	(138,656)
Asset impairments		(2,861)	(3,908)
Liquidation adjustment	(7,114)	(12,442)	(52,590)
Balance at end of period	14,225	40,136	200,675
Accumulated Depreciation
Balance at beginning of period	7,160	14,023	23,584
Disposal of properties	(2,859)	(6,863)	(9,561)
Balance at end of period	$ 4,301	$ 7,160	$ 14,023

Schedule IV Mortgage Loans on_2

Schedule IV Mortgage Loans on Real Estate - Reconciliation of Mortgage Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2016
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Beginning balance	$ 8,400	$ 5,280
Purchase and advances		9,035
Interest received, net		(28)
Repayments / Sale Proceeds	(8,097)	(5,987)
Change in liquidation value	$ (303)	100
Ending balance		$ 8,400