Investment in Unconsolidated Entities (Tables)

3 Months Ended

Mar. 31, 2021

Investment in Partially Owned Entities [Abstract]

Schedule of Combined Financial Information of Investment in Unconsolidated Entities

The following table presents condensed balance sheet information for IAGM:


	As of
	March 31, 2021		December 31, 2020
Assets:
Net investment properties	$	385,505	$	387,394
Other assets	40,707		72,453
Total assets	426,212		459,847
Liabilities and equity:
Mortgages debt, net	219,389		242,388
Other liabilities	13,051		19,144
Equity	193,772		198,315
Total liabilities and equity	426,212		459,847

Company's share of equity	107,436		109,928
Outside basis difference, net (a)	(870)		(877)
Carrying value of investments in unconsolidated entities	$	106,566	$	109,051

(a)The outside basis difference relates to the unamortized deferred gain on sale of Antoine Town Center.

The following table presents condensed income statement information of IAGM:


	Three months ended March 31,
	2021		2020
Total income	$	11,429	$	12,723
Depreciation and amortization	(3,764)		(4,342)
Property operating	(2,073)		(1,865)
Real estate taxes	(2,372)		(2,426)
Asset management fees	(271)		(285)
Interest expense, net	(1,692)		(2,193)
Other (expense) and income, net	(129)		(90)
Loss on debt extinguishment	(14)		(8)
Gain on sale of real estate	—		1,741

Net income	$	1,114	$	3,255

Company's share of net income	$	612	$	1,744
Outside basis adjustment for investee's sale of real estate, net	8		(955)
Equity in earnings of unconsolidated entities	$	620	$	789

Contractual Obligation, Fiscal Year Maturity Schedule

The following table summarizes the scheduled maturities of IAGM's mortgages payable as of March 31, 2021, for the remainder of 2021, each of the next four years and thereafter:


Scheduled maturities by year:	As of March 31, 2021
2021	$	—
2022	—
2023	180,125
2024	—
2025	22,880
Thereafter	17,800
Total	$	220,805