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Investments in and Advances to Unconsolidated Affiliates (Tables) | 12 Months Ended
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Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The Company's investments in and advances to unconsolidated affiliates consist of the following (dollars in thousands):
|  | Nominal Ownership Interest at December 31, 2016 |  | December 31,
Fund | Property |  | 2016 |  | 2015
Core: |  |  |  |  |  |
| 840 N. Michigan (a) | 88.43 | % |  | $ | 74,131 |  |  | $ | 76,898 |
| Renaissance Portfolio | 20 | % |  | 36,437 |  |  | — |
| Gotham | 49 | % |  | 29,421 |  |  | — |
| Brandywine Portfolio (a) | 22.22 | % |  | 20,755 |  |  | — |
| Georgetown Portfolio | 50 | % |  | 4,287 |  |  | 4,688 |
|  |  |  | 165,031 |  |  | 81,586 |
Mervyns I & II: | KLA/Mervyn's, LLC (b) | 10.5 | % |  | — |  |  | — |
Fund III: |  |  |  |  |  |
| Fund III Other Portfolio | 90 | % |  | 8,108 |  |  | 12,784 |
| Self Storage Management (c) | 95 | % |  | 241 |  |  | 654 |
|  |  |  | 8,349 |  |  | 13,438 |
Fund IV: |  |  |  |  |  |
| Broughton Street Portfolio | 50 | % |  | 54,839 |  |  | 43,786 |
| Fund IV Other Portfolio | 90 | % |  | 21,817 |  |  | 24,104 |
| 650 Bald Hill Road | 90 | % |  | 18,842 |  |  | 9,072 |
|  |  |  | 95,498 |  |  | 76,962 |
| Due from Related Parties (d) |  |  | 2,193 |  |  | 725 |
| Other |  |  | 957 |  |  | 566 |
| Investments in and advances to unconsolidated affiliates |  | $ | 272,028 |  |  | $ | 173,277 |
Core: |  |  |  |  |  |
| Crossroads (e) | 49 | % |  | $ | 13,691 |  |  | $ | 13,244 |
| Distributions in excess of income from, and investments in, unconsolidated affiliates |  | $ | 13,691 |  |  | $ | 13,244 |
__________
(a) | Represents a tenancy-in-common interest.
(b) | Distributions have exceeded the Company's non-recourse investment, therefore the carrying value is zero.
(c) | Represents a variable interest entity.
(d) | Represents deferred fees.
(e) | Distributions have exceeded the Company's investment; however, the Company recognizes a liability balance as it may fund future obligations of the entity.
Schedule of Condensed Balance Sheet | The following combined and condensed Balance Sheets and Statements of Income, in each period, summarize the financial information of the Company’s investments in unconsolidated affiliates (in thousands):
|  | December 31,
|  | 2016 |  | 2015
Combined and Condensed Balance Sheets |  |  |  |  |  |
Assets: |  |  |  |  |  |
Rental property, net |  | $ | 576,505 |  |  | $ | 302,976 |
Real estate under development |  | 18,884 |  |  | 35,743 |
Investment in unconsolidated affiliates |  | 6,853 |  |  | 6,853 |
Other assets |  | 75,254 |  |  | 47,083 |
Total assets |  | $ | 677,496 |  |  | $ | 392,655 |
Liabilities and partners’ equity: |  |  |  |  |  |
Mortgage notes payable |  | $ | 407,344 |  |  | $ | 262,130 |
Other liabilities |  | 30,117 |  |  | 21,945 |
Partners’ equity |  | 240,035 |  |  | 108,580 |
Total liabilities and partners’ equity |  | $ | 677,496 |  |  | $ | 392,655 |
Company's share of accumulated equity |  | $ | 191,049 |  |  | $ | 106,442 |
Basis differential |  | 61,827 |  |  | 11,620 |
Deferred fees, net of portion related to the Company's interest |  | 3,268 |  |  | 5,342 |
Amounts receivable by the Company |  | 2,193 |  |  | 36,629 |
Investments in and advances to unconsolidated affiliates, net of Company's share of distributions in excess of income and investments in unconsolidated affiliates |  | $ | 258,337 |  |  | $ | 160,033 |
Schedule of Condensed Income Statement |
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Combined and Condensed Statements of Income |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 84,218 |  |  | $ | 43,990 |  |  | $ | 44,422 |
Operating and other expenses |  | (25,724 | ) |  | (13,721 | ) |  | (17,069 | )
Interest expense |  | (16,300 | ) |  | (9,178 | ) |  | (9,363 | )
Equity in earnings (losses) of unconsolidated affiliates |  | — |  |  | 66,655 |  |  | (328 | )
Depreciation and amortization |  | (35,432 | ) |  | (12,154 | ) |  | (10,967 | )
Loss on debt extinguishment |  | — |  |  | — |  |  | (187 | )
(Loss) gain on disposition of properties |  | (1,340 | ) |  | 32,623 |  |  | 142,615 |
Net income attributable to unconsolidated affiliates |  | $ | 5,422 |  |  | $ | 108,215 |  |  | $ | 149,123 |
Company’s share of equity in net income of unconsolidated affiliates |  | $ | 40,538 |  |  | $ | 37,722 |  |  | $ | 111,970 |
Basis differential adjustments |  | (1,089 | ) |  | (392 | ) |  | (392 | )
Company’s equity in earnings of unconsolidated affiliates |  | $ | 39,449 |  |  | $ | 37,330 |  |  | $ | 111,578 |

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