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Investment in Consolidated and Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2018
Investment in Partially Owned Entities [Abstract] |
Schedule of Consolidated Variable Interest Entities | The following table presents the net assets of the VIEs as of September 30, 2018.
| September 30, 2018
Net investment properties | $ | 142,329 |
Other assets | 14,225 |
Total assets | 156,554 |
Other liabilities | (6,614 | )
Net assets | $ | 149,940 |
Schedule of Net Equity Investment and Share of Net Income or Loss | The entities listed below are owned by the Company and other unaffiliated parties in joint ventures. Net income, distributions and capital transactions for these entities are allocated to the Company and its joint venture partners in accordance with the respective partnership agreements.
|  |  |  |  |  | Carrying Value of Investment as of
Entity |  | Description |  | Ownership % |  | September 30, 2018 |  | December 31, 2017
IAGM Retail Fund I, LLC |  | Multi-tenant retail shopping centers |  | 55% |  | $ | 128,286 |  |  | $ | 123,693 |
Downtown Railyard Venture, LLC |  | Land development |  | 90% |  | 59,961 |  |  | 57,183 |
Other unconsolidated entities |  | Various real estate investments |  | Various |  | (112 | ) |  | (112 | )
|  |  |  |  |  | $ | 188,135 |  |  | $ | 180,764 |
Schedule of Combined Financial Information of Investment in Unconsolidated Entities | he following tables present the combined condensed financial information for the Company's unconsolidated entities.
| As of
| September 30, 2018 |  | December 31, 2017
Assets: |  |  |
Real estate assets, net of accumulated depreciation | $ | 545,014 |  |  | $ | 586,671 |
Other assets | 99,630 |  |  | 73,423 |
Total assets | $ | 644,644 |  |  | $ | 660,094 |
Liabilities and equity: |  |  |
Debt, net | 311,699 |  |  | 311,574 |
Other liabilities | 45,858 |  |  | 49,032 |
Equity | 287,087 |  |  | 299,488 |
Total liabilities and equity | $ | 644,644 |  |  | $ | 660,094 |
Company's share of equity | $ | 187,905 |  |  | $ | 193,572 |
Cost of investments in excess of the Company's share of underlying net book value, net of accumulated amortization of $0 and $2,647, respectively. | 230 |  |  | (12,808 | )
Carrying value of investments in unconsolidated entities | $ | 188,135 |  |  | $ | 180,764 |
| Three months ended September 30, |  | Nine months ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Revenues | $ | 15,087 |  |  | $ | 15,543 |  |  | $ | 44,951 |  |  | $ | 49,307 |
Expenses: |  |  |  |  |  |  |
Interest expense and loan cost amortization | 3,434 |  |  | 3,505 |  |  | 10,240 |  |  | 10,032 |
Depreciation and amortization | 5,124 |  |  | 6,234 |  |  | 16,401 |  |  | 18,848 |
Operating expenses, ground rent and general and administrative expenses | 4,766 |  |  | 5,193 |  |  | 15,774 |  |  | 17,463 |
Provision for asset impairment | 1,405 |  |  | — |  |  | 3,673 |  |  | — |
Total expenses | 14,729 |  |  | 14,932 |  |  | 46,088 |  |  | 46,343 |
Net income (loss) before gain (loss) on sale of real estate | 358 |  |  | 611 |  |  | (1,137 | ) |  | 2,964 |
Gain (loss) on sale of real estate | 13 |  |  | — |  |  | (3,892 | ) |  | — |
Net income (loss) | $ | 371 |  |  | $ | 611 |  |  | $ | (5,029 | ) |  | $ | 2,964 |
Company's share of net income (loss), net of excess basis depreciation of $0, $130, $0 and $390, respectively | $ | (93 | ) |  | $ | 648 |  |  | $ | (3,069 | ) |  | $ | 1,895 |
Distributions from unconsolidated entities in excess of the investments' carrying value | 50 |  |  | — |  |  | 274 |  |  | — |
Equity in (losses) earnings of unconsolidated entities | $ | (43 | ) |  | $ | 648 |  |  | $ | (2,795 | ) |  | $ | 1,895 |
Contractual Obligation, Fiscal Year Maturity Schedule | he following table shows the scheduled maturities of IAGM's mortgages payable as of September 30, 2018 for the remainder of 2018, each of the next four years, and thereafter.
| Maturities during the year ending December 31, |  |  |  |
| 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter |  | Total
Mortgages payable | $ | 188,925 |  |  | 31,353 |  |  | — |  |  | 23,150 |  |  | — |  |  | 68,805 |  |  | $ | 312,233 |

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- Definition Tabular disclosure of the aggregate amount of payments due on known contractual obligations for the five years following the date of the latest balance sheet and the combined aggregate amount of maturities of known contractual obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph a -Subparagraph 5 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=108788376&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=108788376&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5728-111685 + Details
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