XML 49 R39.htm IDEA: XBRL DOCUMENT v3.22.2.2
Investment in Unconsolidated Entities - Combined Financial Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Assets                    
Net investment properties $ 2,089,445           $ 2,089,445   $ 1,922,847  
Other assets 54,479           54,479   25,685  
Total assets 2,543,409           2,543,409   2,212,415  
Liabilities and equity:                    
Mortgages debt, net 807,639           807,639   533,082  
Other liabilities 27,908           27,908   28,776  
Equity 1,618,747 $ 1,619,489 $ 1,584,206 $ 1,694,816 $ 1,702,724 $ 1,729,022 1,618,747 $ 1,694,816 1,571,552 $ 1,738,863
Total liabilities and stockholders' equity 2,543,409           2,543,409   2,212,415  
Carrying value of investments in unconsolidated entities 56,490           56,490   107,944  
Operating expenses                    
Total income 58,757     55,138     177,436 158,399    
Depreciation and amortization (24,021)     (21,318)     (71,055) (65,000)    
Real estate taxes (8,937)     (8,490)     (25,595) (24,781)    
Interest expense, net (7,689)     (3,999)     (18,129) (11,956)    
Loss on debt extinguishment 0     (400)     (96) (400)    
Net income 936 $ 41,921 $ 9,501 3,992 $ 1,499 $ (100) 52,358 5,391    
Equity in earnings of unconsolidated entities 352     1,046     3,784 2,441    
IAGM                    
Liabilities and equity:                    
Outside basis difference, net (8,050)           (8,050)   (7,569)  
Operating expenses                    
Equity in earnings of unconsolidated entities 352     1,046     3,784 2,441    
IAGM                    
Assets                    
Net investment properties 213,354           213,354   288,014  
Other assets 36,190           36,190   98,696  
Total assets 249,544           249,544   386,710  
Liabilities and equity:                    
Mortgages debt, net 125,635           125,635   165,831  
Other liabilities 8,125           8,125   12,409  
Equity 115,784           115,784   208,470  
Total liabilities and stockholders' equity 249,544           249,544   386,710  
Company's share of equity 64,540           64,540   115,513  
Carrying value of investments in unconsolidated entities 56,490           56,490   $ 107,944  
Operating expenses                    
Total income 6,518     10,184     21,501 33,034    
Depreciation and amortization (2,428)     (3,648)     (7,852) (11,205)    
Property operating (1,363)     (1,586)     (3,804) (5,715)    
Real estate taxes (929)     (1,722)     (3,174) (6,392)    
Asset management fees (215)     (292)     (686) (859)    
Interest expense, net (929)     (1,254)     (2,987) (4,415)    
Other income and expense, net (142)     (79)     (35) (324)    
Loss on debt extinguishment 0     (215)     (202) (229)    
Gain on sale of real estate 0     12,827     4,995 12,827    
Net income 512     14,215     7,756 16,722    
Company's share of net income 281     7,817     4,265 9,197    
Outside basis adjustment for investee's sale of real estate, net $ 71     $ (6,771)     $ (481) $ (6,756)