Investment in Unconsolidated Entities (Tables)

3 Months Ended

Mar. 31, 2022

Equity Method Investments and Joint Ventures [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, 2022		December 31, 2021
Assets:
Net investment properties	$	251,685	$	288,014
Other assets	64,037		98,696
Total assets	$	315,722	$	386,710
Liabilities and equity:
Mortgages debt, net	$	148,242	$	165,831
Other liabilities	7,506		12,409
Equity	159,974		208,470
Total liabilities and equity	315,722		386,710

Company's share of equity	88,841		115,513
Outside basis difference, net (a)	(7,504)		(7,569)
Carrying value of investments in unconsolidated entities	$	81,337	$	107,944

(a)The outside basis difference reflects unamortized deferred gains on historical sales of Antoine Town Center and Prestonwood Town Center.

The following table presents condensed income statement information of IAGM:


	Three months ended March 31,
	2022		2021
Total income	$	8,379	$	11,429
Depreciation and amortization	(2,905)		(3,764)
Property operating	(1,330)		(2,073)
Real estate taxes	(1,411)		(2,372)
Asset management fees	(251)		(271)
Interest expense, net	(1,159)		(1,692)
Other (expense) and income, net	(142)		(129)
Loss on debt extinguishment	(111)		(14)
Gain on sale of real estate	3,751		—
Net income	$	4,821	$	1,114

Company's share of net income	$	2,652	$	612
Outside basis adjustment for investee's sale of real estate, net	64		8
Equity in earnings of unconsolidated entities	$	2,716	$	620

Schedule of Contractual Obligation, Fiscal Year Maturity Schedule

The following table summarizes the scheduled maturities of IAGM's mortgages payable as of March 31, 2022, for the remainder of 2022, each of the next four years and thereafter:


Scheduled maturities by year:	As of March 31, 2022
2022	$	—
2023	126,022
2024	—
2025	22,880
2026	—
Thereafter	—
Total	$	148,902