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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2015
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events During January 2016, the Company completed the acquisition of a 49% interest in the Gotham Plaza in Manhattan, New York, for a purchase price of $39.8 million. Consideration for this purchase consisted of the assumption of 49% of the existing debt of $21.4 million and the issuance of both Common and Preferred OP Units. During January 2016, Fund IV completed the acquisition of the Restaurants at Fort Point in Boston, Massachusetts, for a purchase price of $11.5 million. During January 2016, Fund IV completed the acquisition of a 90% interest in 1964 Union Street in San Francisco, California, for a purchase price of $2.0 million. During January 2016, Fund III completed the disposition of a 65% interest in Cortlandt Town Center for a sales price of $107.3 million. During January 2016, the Company closed on a new $50.0 million term loan. The loan, which bears interest at rates ranging from LIBOR plus 130 basis points to LIBOR plus 190 basis points based on overall Company leverage. The loan matures January 4, 2021. During January 2016, the Company acquired an additional 8.3% interest in Fund II from one of its unaffiliated partners for $18.4 million. As a result, the Operating Partnership's interest in Fund II is now 28.3%. During February 2016, Fund IV closed on a $14.0 million preferred equity investment in a development site in Chicago, Illinois. The investment earns a preferred return of 15.3% and has a maturity of February, 2021.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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