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Basis of Presentation, Consolidation, Investments in Joint Ventures, and Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Real Estate Properties

The composition of the Company’s investment properties as of June 30, 2020 and December 31, 2019 was as follows:

		Balance at
		June 30, 2020				December 31, 2019
Investment properties, at cost:
Land, buildings and improvements		$	3,050,725			$	3,038,412
Furniture, equipment and other		7,932				7,775
Construction in progress		33,425				41,204
		$	3,092,082			$	3,087,391

Lessor, Schedule Of Lease Rental Income

The Company recognized the following lease rental income for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Fixed Contractual Lease Payments - Operating Leases	54,574			63,654			109,918			129,193
Variable Lease Payments - Operating Leases	12,437			14,779			25,388			30,640
Bad Debt Reserve	(5,746	)		(695	)		(6,593	)		(1,446	)
Straight-Line Rent Adjustment	387			947			745			1,610
Straight-Line Rent Reserve for Uncollectibility	(881	)		—			(3,757	)		—
Amortization of In-Place Lease Liabilities, net	767			1,110			1,365			2,155
Total	61,538			79,795			127,066			162,152

Schedule of Stockholders Equity

The non-redeemable noncontrolling interests in consolidated properties for the six months ended June 30, 2020 and 2019 were as follows:

	2020				2019
Noncontrolling interests balance January 1	$	698			$	698
Net income allocable to noncontrolling interests,   excluding redeemable noncontrolling interests	—				—
Noncontrolling interests balance at June 30	$	698			$	698

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net

For the three and six months ended June 30, 2020 and 2019, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Parent Company’s weighted average interest in Operating Partnership	97.4	%		97.6	%		97.4	%		97.6	%
Limited partners' weighted average interests in Operating Partnership	2.6	%		2.4	%		2.6	%		2.4	%

Redeemable Noncontrolling Interest

The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the six months ended June 30, 2020 and 2019 were as follows:

	2020				2019
Redeemable noncontrolling interests balance January 1	$	52,574			$	45,743
Net income allocable to redeemable noncontrolling interests	188				372
Distributions declared to redeemable noncontrolling interests	(974		)		(1,586		)
Other, net including adjustments to redemption value	(7,159		)		777
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at June 30	$	44,629			$	45,306
Limited partners' interests in Operating Partnership	$	34,559			$	53,236
Other redeemable noncontrolling interests in certain subsidiaries	10,070				10,070
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at June 30	$	44,629			$	63,306

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The tabular disclosure of the effects of any changes in a parent's ownership interest in a subsidiary on the equity attributable to the parent if the ownership interests in a subsidiary changes during the period. The changes represented by this element did not result in the deconsolidation of the subsidiary.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
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-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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-Section 55
-Paragraph 4M
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Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

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