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Investment in Consolidated and Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2019
Investment in Partially Owned Entities [Abstract] |
Schedule of Consolidated Variable Interest Entities | The following table presents the net assets of the VIE:
| December 31, 2018
Net investment properties | $ | 39,634 |
Other assets | 4,457 |
Total assets | 44,091 |
Liabilities | (385 | )
Net assets | $ | 43,706 |
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.
|  |  |  | Current Ownership % |  | Carrying Value of Investment as of
Entity |  | Description |  |  | September 30, 2019 |  | December 31, 2018
IAGM Retail Fund I, LLC |  | Multi-tenant retail shopping centers |  | 55% |  | $ | 120,050 |  |  | $ | 126,195 |
Downtown Railyard Venture, LLC |  | Land development |  | —% |  | — |  |  | 30,049 |
Other unconsolidated entities |  | Various real estate investments |  | Various |  | — |  |  | (112 | )
|  |  |  |  |  | $ | 120,050 |  |  | $ | 156,132 |
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.
| As of
| September 30, 2019 |  | December 31, 2018
Assets: |  |  |
Real estate assets, net of accumulated depreciation | $ | 427,652 |  |  | $ | 494,583 |
Other assets | 64,705 |  |  | 103,565 |
Total assets | $ | 492,357 |  |  | $ | 598,148 |
Liabilities and equity: |  |  |
Mortgages payable, net | 256,593 |  |  | 272,629 |
Other liabilities | 19,068 |  |  | 42,569 |
Equity | 216,696 |  |  | 282,950 |
Total liabilities and equity | $ | 492,357 |  |  | $ | 598,148 |
Company's share of equity | $ | 120,050 |  |  | $ | 185,814 |
Outside basis difference (a) | — |  |  | (29,682 | )
Carrying value of investments in unconsolidated entities | $ | 120,050 |  |  | $ | 156,132 |
(a) | The outside basis difference is principally related to other-than-temporary impairment recorded in 2018 on DRV.
| Three months ended September 30, |  | Nine months ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Revenues | $ | 13,277 |  |  | $ | 15,087 |  |  | $ | 40,024 |  |  | $ | 44,951 |
Expenses: |  |  |  |  |  |  |
Interest expense and loan cost amortization | 2,630 |  |  | 3,434 |  |  | 8,418 |  |  | 10,240 |
Depreciation and amortization | 4,687 |  |  | 5,124 |  |  | 15,626 |  |  | 16,401 |
Operating and general and administrative expenses | 4,919 |  |  | 4,766 |  |  | 14,030 |  |  | 15,774 |
Provision for asset impairment | — |  |  | 1,405 |  |  | 1,443 |  |  | 3,673 |
Total expenses | 12,236 |  |  | 14,729 |  |  | 39,517 |  |  | 46,088 |
Net income (loss) before sale of real estate | 1,041 |  |  | 358 |  |  | 507 |  |  | (1,137 | )
Gain (loss) on sale of real estate | — |  |  | 13 |  |  | (5,540 | ) |  | (3,892 | )
Net income (loss) | $ | 1,041 |  |  | $ | 371 |  |  | $ | (5,033 | ) |  | $ | (5,029 | )
Company's share of net income (loss) | $ | 572 |  |  | $ | (93 | ) |  | $ | (4,451 | ) |  | $ | (3,069 | )
Distributions from unconsolidated entities in excess of the investments' carrying value | — |  |  | 50 |  |  | — |  |  | 274 |
Outside basis adjustment for investee's sale of real estate | — |  |  | — |  |  | 4,403 |  |  | — |
Equity in earnings (losses) of unconsolidated entities | $ | 572 |  |  | $ | (43 | ) |  | $ | (48 | ) |  | $ | (2,795 | )
Contractual Obligation, Fiscal Year Maturity Schedule | The following table shows the scheduled maturities of IAGM's mortgages payable as of September 30, 2019, for the remainder of 2019, each of the next four years and thereafter.
| Maturities during the year ending December 31, |  |  |  |
| 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Thereafter |  | Total
Mortgages payable | $ | — |  |  | 14,872 |  |  | 23,150 |  |  | — |  |  | 180,125 |  |  | 40,680 |  |  | $ | 258,827 |

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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=118582676&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=118582676&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=118582676&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=118582676&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=118582676&loc=d3e5728-111685 + Details
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