XML 49 R38.htm IDEA: XBRL DOCUMENT v3.23.3
Investment in Unconsolidated Entities - Combined Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jan. 18, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Assets                      
Net investment properties   $ 2,208,417           $ 2,208,417   $ 2,092,301  
Other assets   56,979           56,979   51,145  
Total assets   2,530,024           2,530,024   2,473,034  
Liabilities and equity:                      
Mortgages debt, net   834,206           834,206   754,551  
Other liabilities   31,534           31,534   28,287  
Equity   1,571,532 $ 1,582,937 $ 1,586,405 $ 1,618,747 $ 1,619,489 $ 1,584,206 1,571,532 $ 1,618,747 1,603,909 $ 1,571,552
Total liabilities and stockholders' equity   2,530,024           2,530,024   2,473,034  
Carrying value of investments in unconsolidated entities   3,820           3,820   56,131  
Operating expenses                      
Total income   64,062     58,757     193,954 177,436    
Depreciation and amortization   (30,318)     (24,021)     (85,339) (71,055)    
Real estate taxes   (8,781)     (8,937)     (27,361) (25,595)    
Interest expense, net   (9,555)     (7,689)     (28,441) (18,129)    
Gain (loss) on debt extinguishment   0     0     0 (96)    
Gain on sale of real estate $ 24,900                    
Gain on sale of derivatives $ 1,400                    
Net (loss) income   (822) $ 2,068 $ 1,133 936 $ 41,921 $ 9,501 2,379 52,358    
Equity in earnings (losses) of unconsolidated entities   67     352     (447) 3,784    
IAGM                      
Liabilities and equity:                      
Outside basis difference, net   0           0   (14,738)  
Operating expenses                      
Equity in earnings (losses) of unconsolidated entities   67     352     (447) 3,784    
IAGM                      
Assets                      
Net investment properties   0           0   161,312  
Other assets   9,280           9,280   65,565  
Total assets   9,280           9,280   226,877  
Liabilities and equity:                      
Mortgages debt, net   0           0   92,186  
Other liabilities   2,252           2,252   7,392  
Equity   7,028           7,028   127,299  
Total liabilities and stockholders' equity   9,280           9,280   226,877  
Company's share of equity   3,820           3,820   70,869  
Carrying value of investments in unconsolidated entities   3,820           3,820   $ 56,131  
Operating expenses                      
Total income   0     6,518     952 21,501    
Depreciation and amortization   0     (2,428)     (622) (7,852)    
Property operating   0     (1,363)     (232) (3,804)    
Real estate taxes   0     (929)     (127) (3,174)    
Asset management fees   0     (215)     (32) (686)    
Interest expense, net   0     (929)     (143) (2,987)    
Other income and expense, net   123     (142)     597 (35)    
Gain (loss) on debt extinguishment   0     0     444 (202)    
Gain on sale of real estate   0     0     45,208 4,995    
Gain on sale of derivatives           2,556 0    
Net (loss) income   123     512     48,601 7,756    
Company's share of net income   67     281     26,728 4,265    
Outside basis adjustments for IAGM's sales to the Company   $ 0     $ 71     $ (27,175) $ (481)