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Investments in Non-Consolidated Entities (Tables) | 6 Months Ended
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Jun. 30, 2019
Noncontrolling Interest [Abstract] |
Investments in and Advances to Affiliates | Below is a schedule of the Company's investments in non-consolidated entities:
|  | Percentage Ownership at |  | Investment Balance as of
Investment |  | June 30, 2019 |  | June 30, 2019 |  | December 31, 2018
NNN Office JV (“NNN JV”) | (1) | 20% |  | $ | 48,520 |  |  | $ | 53,144 |
Etna Park 70 LLC | (2) | 90% |  | 5,849 |  |  | 4,774 |
Other | (3) | 25% |  | 5,497 |  |  | 8,265 |
|  |  |  | $ | 59,866 |  |  | $ | 66,183 |
(1) | During 2018, the Company disposed of 21 office assets to NNN JV for an aggregate gross disposition price of $725,800 and acquired a 20% interest in NNN JV. Two of the 21 properties, with a combined estimated fair value of $45,653, were contributed to NNN JV along with cash of $8,053. The Company recognized a gain of $14,645 in connection with the contribution of the two office assets to NNN JV, and in addition, NNN JV assumed an aggregate of $103,400 of non-recourse mortgage debt in the transaction. NNN JV obtained an aggregate of $362,800 of non-recourse mortgage financing which bears interest at LIBOR plus 200 basis points and has an initial term of three years but can be extended for two additional terms of one-year each. There is a rate increase of 15 basis points upon each extension. NNN JV entered into interest rate agreements which cap the LIBOR component of the $362,800 mortgage financing at 4.0% for two years. As of June 30, 2019, NNN JV had total assets of $698,770 and total liabilities of $456,554. The properties are encumbered by an aggregate of $436,200 of non-recourse mortgage debt as of June 30, 2019.
(2) | Joint venture formed in 2017 with a developer entity to acquire a 151-acre parcel of developable land and pursue industrial build-to-suit opportunities. The developer entity has substantive participation rights. In December 2018, the parcel was subdivided and the Company received a distribution of an ownership interest in a 57-acre parcel with a historic cost of $3,008. The Company acquired control of the 57-acre parcel via the purchase of the Company's joint venture partners' interest.
(3) As of June 30, 2019, represents one joint venture investment, which owns a single-tenant, net-leased asset.

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- Definition Tabular disclosure of investments in and advances to affiliates. Does not include the tabular disclosure of the disaggregation of investments in and advances to affiliates across legal entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 + Details
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