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

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Investment Properties

The composition of the Company’s investment properties as of March 31, 2021 and December 31, 2020 was as follows:

						Balance at
						March 31, 2021						December 31, 2020
Investment properties, at cost:
Land, buildings and improvements						$	3,103,198					$	3,109,122
Furniture, equipment and other						6,964						6,979
Construction in progress						27,368						27,860
						$	3,137,530					$	3,143,961

Schedule of Lease Rental Income

The Company recognized the following lease rental income for the three months ended March 31, 2021 and 2020:

			Three Months Ended March 31,
			2021						2020
Fixed Contractual Lease Payments - Operating Leases			54,803						55,345
Variable Lease Payments - Operating Leases			13,929						12,949
Bad Debt Reserve			(1,309)						(847)
Straight-Line Rent Adjustment			98						358
Straight-Line Rent Reserve for Uncollectability			(110)						(2,876)
Amortization of In-Place Lease Liabilities, net			479						598
Total			67,890						65,527

Schedule of Stockholders Equity

The non-redeemable noncontrolling interests in consolidated properties for the three months ended March 31, 2021 and 2020 were as follows:

			2021						2020
Noncontrolling interests balance January 1			$	698					$	698
Net income allocable to noncontrolling interests,   excluding redeemable noncontrolling interests			—						—
Noncontrolling interests balance at March 31			$	698					$	698

Schedule of Weighted Average Interests of Parent and OP

For the three months ended March 31, 2021 and 2020, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:

			Three Months Ended March 31,
			2021						2020
Parent Company’s weighted average interest in Operating Partnership			97.1		%				97.5		%
Limited partners' weighted average interests in Operating Partnership			2.9		%				2.5		%

Schedule of Redeemable Noncontrolling Interests

The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the three months ended March 31, 2021 and 2020 were as follows:

			2021						2020
Redeemable noncontrolling interests balance January 1			$	43,275					$	52,574
Net income allocable to redeemable noncontrolling interests			778						204
Distributions declared to redeemable noncontrolling interests			(511)						(842)
Other, net including adjustments to redemption value			8,463						(7,192)
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at March 31			$	52,005					$	44,744
Limited partners' interests in Operating Partnership			$	41,935					$	34,674
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 March 31			$	52,005					$	44,744

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

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-Name Accounting Standards Codification
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-SubTopic 10
-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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