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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2014
Schedule of Company's Supplemental Consolidated Pro Forma Total Revenues and Net Income | The following table presents the Company's supplemental consolidated pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2013 (in thousands):
|  | For the Three Months Ended, |  | For the Six Months Ended, |
--- | --- | --- | --- | --- | ---
|  | June 30, 2014 |  | June 30, 2013 |  | June 30, 2014 |  | June 30, 2013 |
Pro forma total revenues (1) |  | $ | 94,304 |  | $ | 28,631 |  | $ | 171,582 |  | $ | 42,955 |
Pro forma net loss (1)(2) |  | $ | (3,369 | ) | $ | (20,877 | ) | $ | (10,304 | ) | $ | (26,293 | )
(1) This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2013. (2) Pro-forma net loss represents the combined pro forma net loss of the Advisor and Property Manager, among others, but does not reflect the elimination of historical advisory fees that would not have been paid had the Management Internalization occurred on January 1, 2013.
Management Internalization |
Schedule of Estimated Fair Values of Assets Acquired | The following table summarizes the estimated fair values of the assets acquired as part of the Management Internalization as of the date of acquisition (in thousands):
Buildings and improvements |  | $ | 4,214 |
Identified intangible assets: |  |  |  |
Trademark |  |  | 3,100 |
Database |  |  | 2,100 |
Goodwill |  |  | 120,655 |
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Fair value of acquired assets |  | $ | 130,069 |
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Alaska Joint Venture Acquisition |
Schedule of Estimated Fair Values of Assets Acquired | The following table summarizes the estimated fair values of the assets acquired as part of the Alaska Joint Venture Acquisition as of the date of acquisition (in thousands):
Land |  | $ | 156,648 |
Building and improvements |  |  | 740,396 |
Receivable for net cash flows prior to acquisition date |  |  | 1,896 |
Value of in-place leases |  |  | 5,547 |
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Fair value of acquired assets |  | $ | 904,487 |
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RJ LLC, RJ1 and RJ2 |
Schedule of Estimated Fair Values of Assets Acquired | The following table summarizes the estimated fair values of the net assets of RJ LLC, RJ1 and RJ2 that the Company gained control over on June 14, 2013 and the associated 67% noncontrolling interest held by third party accredited investors in RJ1 and RJ2, respectively (in thousands):
Land |  | $ | 10,340 |
Building and improvements |  |  | 54,123 |
Value of in-place leases |  |  | 539 |
Cash and cash equivalents |  |  | 1,128 |
Other current assets and liabilities, net |  |  | (311 | )
Note payable |  |  | (7,600 | )
Noncontrolling interest |  |  | (39,321 | )
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Fair value of acquired net assets |  | $ | 18,898 |
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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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