XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Investment in Consolidated and Unconsolidated Entities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017
Investment in Partially Owned Entities [Abstract] |
Schedule of Consolidated Variable Interest Entities | The following were the assets and liabilities of the consolidated VIEs. The liabilities of the VIEs are not recourse to the Company, and the assets must be used first to settle obligations of the VIEs. As of September 30, 2017, River Oaks and Kyle Marketplace were the Company's only active Reverse 1031 Exchanges.
|  | September 30, 2017 |  | December 31, 2016
Net investment properties |  | $ | 167,017 |  |  | $ | — |
Other assets |  | 17,024 |  |  | — |
Total assets |  | 184,041 |  |  | — |
Other liabilities |  | 10,649 |  |  | — |
Total liabilities |  | 10,649 |  |  | — |
Net assets |  | $ | 173,392 |  |  | $ | — |
Schedule of Net Equity Investment and Share of Net Income or Loss | nder the equity method of accounting, the net equity investment of the Company and the Company's share of net income or loss from the unconsolidated entity are reflected in the consolidated balance sheets and the consolidated statements of operations and comprehensive income.
|  |  |  |  |  | Carrying Value of Investment as of
Entity |  | Description |  | Ownership % |  | September 30, 2017 |  | December 31, 2016
IAGM Retail Fund I, LLC |  | Multi-tenant retail shopping centers |  | 55% |  | $ | 128,778 |  |  | $ | 126,090 |
Downtown Railyard Venture, LLC |  | Land development |  | 90% |  | 56,429 |  |  | 52,365 |
Other unconsolidated entities |  | Various real estate investments |  | Various |  | (111 | ) |  | 273 |
|  |  |  |  |  | $ | 185,096 |  |  | $ | 178,728 |
Schedule of Combined Financial Information of Investment in Unconsolidated Entities | The following tables present the combined condensed financial information for the Company's unconsolidated entities.
| September 30, 2017 |  | December 31, 2016
Assets: |  |  |
Real estate assets, net of accumulated depreciation | $ | 624,500 |  |  | $ | 628,667 |
Other assets | 77,869 |  |  | 71,288 |
Total assets | $ | 702,369 |  |  | $ | 699,955 |
Liabilities and equity: |  |  |
Mortgage debt | 311,525 |  |  | 311,378 |
Other liabilities | 61,487 |  |  | 65,225 |
Equity | 329,357 |  |  | 323,352 |
Total liabilities and equity | $ | 702,369 |  |  | $ | 699,955 |
Company's share of equity | $ | 198,044 |  |  | $ | 192,124 |
Excess of the net book value, net, of underlying assets over the cost of investments (net of accumulated amortization of $2,677 and $2,229, respectively) | (12,948 | ) |  | (13,396 | )
Carrying value of investments in unconsolidated entities | $ | 185,096 |  |  | $ | 178,728 |
| Three months ended September 30, |  | Nine months ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Revenues | $ | 15,543 |  |  | $ | 15,420 |  |  | $ | 49,307 |  |  | $ | 52,554 |
Expenses: |  |  |  |  |  |  |
Interest expense and loan cost amortization | 3,505 |  |  | 3,334 |  |  | 10,032 |  |  | 9,972 |
Depreciation and amortization | 6,234 |  |  | 6,325 |  |  | 18,848 |  |  | 20,992 |
Operating expenses, ground rent and general and administrative expenses | 5,193 |  |  | 4,398 |  |  | 17,463 |  |  | 15,064 |
Total expenses | 14,932 |  |  | 14,057 |  |  | 46,343 |  |  | 46,028 |
Net income | $ | 611 |  |  | $ | 1,363 |  |  | $ | 2,964 |  |  | $ | 6,526 |
Company's share of net income (loss), net of excess basis depreciation of $130, $130, $390 and $390, respectively | $ | 648 |  |  | $ | (152 | ) |  | $ | 1,895 |  |  | $ | 3,107 |
Distributions from unconsolidated entities in excess of the investments' carrying value | — |  |  | 4,001 |  |  | — |  |  | 4,632 |
Equity in earnings of unconsolidated entities | $ | 648 |  |  | $ | 3,849 |  |  | $ | 1,895 |  |  | $ | 7,739 |
Schedule of Debt Maturities of the Unconsolidated Entities | The unconsolidated entities had total third party debt of $311,525 at September 30, 2017 that matures as follows:
Maturities during the year ended December 31, |  | Amount
2017 |  | $ | — |
2018 |  | 203,931 |
2019 |  | 16,247 |
2020 |  | — |
2021 |  | 22,984 |
Thereafter |  | 68,363 |
|  | $ | 311,525 |

X
- Definition Investment in partially owned entities. + References No definition available. + Details
Name: | ivtp_InvestmentInPartiallyOwnedEntitiesAbstract
Namespace Prefix: | ivtp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of combined financial information for the company's investment in unconsolidated entities. + References No definition available. + Details
Name: | ivtp_ScheduleOfCombinedFinancialInformationForCompanysInvestmentInUnconsolidatedEntitiesTableTextBlock
Namespace Prefix: | ivtp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + 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=66011266&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6759159-111685 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5710-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration