XML 36 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
Investments in Real Estate Ventures (Tables)
 9 Months Ended
Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]  
Schedule of Equity Method Investments [Table Text Block]
The following table summarizes the above discussion relative to LIC II:
($ in millions)
September 30, 2016
Our effective ownership interest in co-investment vehicle
48.78
%
Our maximum potential unfunded commitments in LIC II
$
69.6

Our share of unfunded capital commitments to underlying funds
34.4

Our share of exposure on outstanding borrowings
0.9

Our maximum exposure, assuming LIC II Facility is fully drawn
4.9
Investments in real estate ventures
The table below shows the movement in our investments in real estate ventures reported at fair value.
(in millions)
2016
2015
Fair value investments as of January 1,
$
155.2

113.6

Investments
59.8

28.0

Distributions
(32.6
)
(5.6
)
Change in fair value
14.2

18.5

Foreign currency translation adjustments, net
7.4

(4.2
)
Fair value investments as of September 30,
$
204.0

150.3
Consolidated Variable Interest Entities [Member]  
Schedule of Equity Method Investments [Line Items]  
Balance Sheet Amounts Consolidated for Variable Interest Entity [Table Text Block]
Summarized financial information for our consolidated VIEs is presented in the following tables.
 
September 30,
December 31,
(in millions)
2016
2015
Property and equipment, net
$
13.9

32.6

Investment in real estate venture
10.1

6.6

Other assets (1)
77.8

4.9

Total assets
$
101.8

44.1

Mortgage indebtedness
$
9.7

25.8

Other liabilities (1)
37.3

—

Total liabilities
47.0

25.8

Members' equity
54.8

18.3

Total liabilities and members' equity
$
101.8

44.1
Comprehensive Income Amounts Consolidated for Variable Interest Entity [Table Text Block]
 
Three Months Ended September 30,
Nine Months Ended September 30,
(in millions)
2016
2015
2016
2015
Revenue (2)
$
2.6

4.6

$
5.6

7.1

Operating and other expenses
(3.7
)
(1.0
)
(5.7
)
(2.8
)
Gain on sale of investment
—

—

13.3

1.3

Net income
$
(1.1
)
3.6

$
13.2

5.6


(2) Includes $3.3 million for the three and nine months ended September 30, 2015, representing our proportionate share of the gain on the sale of real estate by an investment of one of our consolidated VIE's that was accounted for pursuant to the equity method.