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Investment in and Advances to Non-Consolidated Entities | 12 Months Ended
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Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract] |
Investment in and Advances to Non-Consolidated Entities | Investment in and Advances to Non-Consolidated Entities As of December 31, 2015, the Company had ownership interests ranging from 15% to 40% in certain non-consolidated entities, which primarily own single-tenant net-leased assets. The acquisitions of these assets by the non-consolidated entities were partially funded through non-recourse mortgage debt with an aggregate balance of $47,621 at December 31, 2015 (the Company's proportionate share was $8,591) with rates ranging from 3.7% to 4.7%. In 2015, the Company invested $5,613 in the Oklahoma City tenant-in-common. The Company's contribution, together with the other tenant-in-common's contribution, was used to satisfy the related maturing mortgage loan. In November 2014, the Company formed a joint venture to construct a private school in Houston, Texas. As of December 31, 2015, the Company had a 25% interest in the joint venture. The anticipated total construction cost is $86,491. The Company is providing construction financing to the joint venture up to $56,686 of which $8,519 has been funded as of December 31, 2015. Upon completion, the property will be net leased for a 20-year term. In August 2013, the Company invested $5,000 in a joint venture, which acquired the fee interest and the related office building improvements of a property in Baltimore, Maryland. In November 2015, the Company's interest in the joint venture was redeemed in exchange for a distribution to the Company of the fee interest, which is subject to a long-term ground lease with the leaseholder. During 2014 and 2013, the Company recognized other-than-temporary impairment charges on a non-consolidated joint venture due to changes in the Company's estimate of net proceeds to be received upon liquidation of the joint venture. Accordingly, the Company recognized $930 and $925, respectively, in impairment charges in equity in earnings (losses) of non-consolidated entities. The underlying property was sold in October 2014 and the Company recognized a gain of $87 in equity in earnings (losses) of non-consolidated entities. LRA earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments were $223, $348 and $512 for the years ended December 31, 2015, 2014 and 2013, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32787-111569 + Details
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