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Unconsolidated Real Estate Joint Ventures
 12 Months Ended
Dec. 31, 2014
Unconsolidated Real Estate Joint Ventures [Abstract]  
Unconsolidated Real Estate Joint Ventures
Unconsolidated Real Estate Joint Ventures

On October 8, 2013, the Company purchased from its partner, Atlantic of Hamburg, Germany (Atlantic), its interests in two unconsolidated real estate joint ventures, Atlantic-EPR I and Atlantic-EPR II. The Company previously accounted for its investment in these joint ventures under the equity method of accounting. The Company paid cash consideration of $18.6 million in exchange for Atlantic's interests. The Company had previously made loans to the entities that held the underlying assets in the Atlantic-EPR joint ventures totaling $33.1 million. During the year ended December 31, 2013, the Company recognized a gain on its previously held equity interest of $4.9 million from the fair value adjustment associated with the Company's original ownership due to a change in control. Additionally, the Company recognized a gain on acquisition of $3.2 million.

The Company recognized income of $505 thousand and $536 thousand during 2013 and 2012, respectively, from its equity investments in the Atlantic-EPR I and Atlantic-EPR II joint ventures. The Company also received distributions from Atlantic-EPR I and Atlantic-EPR II of $646 thousand and $1.0 million during 2013 and 2012, respectively. Condensed consolidated financial information for Atlantic-EPR I and Atlantic-EPR II is as follows as of and for the period ended October 8, 2013 and the year ended December 31, 2012 (in thousands):
 
2013
 
2012
 
Rental properties, net
$
44,644

 
$
45,496

 
Cash
512

 
278

 
Atlantic-EPR II mortgage note payable to EPR (1)
11,796

 
—

 
Mortgage note payable (2)
—

 
11,827

 
Atlantic-EPR I mortgage note payable to EPR (1)
21,293

 
17,979

 
Partners’ equity
18,372

 
18,675

 
Rental revenue
4,373

 
5,604

 
Net income
1,430

 
1,842

 

(1) Atlantic-EPR I and Atlantic-EPR II mortgage notes payable to the Company were settled with the Company's acquisition of Atlantic's interests in each of these joint ventures on October 8, 2013.
(2) Atlantic-EPR II mortgage note payable to the Company was paid in full on September 1, 2013.

In addition, as of December 31, 2014 and 2013 the Company had invested $5.7 million and $5.3 million, respectively, in unconsolidated joint ventures for three theatre projects located in China. The Company recognized income of $1.3 million, $893 thousand and $489 thousand from its investment in these joint ventures for the years ended December 31, 2014, 2013 and 2012, respectively. The Company also received distributions from these joint ventures of $810 thousand and $339 thousand during 2014 and 2013, respectively. The Company did not receive any distributions during 2012.