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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2015
Real Estate [Abstract] |
Schedule of real estate assets | The Company's real estate assets were comprised of the following ($ in thousands):
| Net Lease |  | Operating Properties |  | Total
As of December 31, 2015 |  |  |  |  |
Land and land improvements, at cost | $ | 306,172 |  |  | $ | 133,275 |  |  | $ | 439,447 |
Buildings and improvements, at cost | 1,183,723 |  |  | 427,371 |  |  | 1,611,094 |
Less: accumulated depreciation | (377,416 | ) |  | (79,142 | ) |  | (456,558 | )
Real estate, net | 1,112,479 |  |  | 481,504 |  |  | 1,593,983 |
Real estate available and held for sale (1) | — |  |  | 137,274 |  |  | 137,274 |
Total real estate | $ | 1,112,479 |  |  | $ | 618,778 |  |  | $ | 1,731,257 |
As of December 31, 2014 |  |  |  |  |
Land and land improvements, at cost | $ | 311,890 |  |  | $ | 146,417 |  |  | $ | 458,307 |
Buildings and improvements, at cost | 1,240,593 |  |  | 578,013 |  |  | 1,818,606 |
Less: accumulated depreciation | (364,323 | ) |  | (96,159 | ) |  | (460,482 | )
Real estate, net | 1,188,160 |  |  | 628,271 |  |  | 1,816,431 |
Real estate available and held for sale (1) | 4,521 |  |  | 162,782 |  |  | 167,303 |
Total real estate | $ | 1,192,681 |  |  | $ | 791,053 |  |  | $ | 1,983,734 |
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(1) | As of December 31, 2015 and 2014 the Company had $137.3 million and $155.8 million, respectively, of residential properties available for sale in its operating properties portfolio.
Schedule of acquisitions of real estate | The following acquisitions of real estate were reflected in the Company's consolidated statements of cash flows for the years ended December 31, 2015, 2014 and 2013 ($ in thousands):
| For the Years Ended December 31,
| 2015 |  | 2014(1) |  | 2013(2)
Acquisitions of real estate assets | $ | — |  |  | $ | 4,666 |  |  | $ | 102,364 |
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(1) | During the year ended December 31, 2014, the Company purchased two condominium units for $3.0 million and one land parcel for $1.7 million.
(2) | During the year ended December 31, 2013, the Company acquired a net lease asset for a purchase price of $93.6 million, including intangible assets of $36.1 million, intangible liabilities of $11.9 million and acquisition-related costs of $0.2 million, which was leased back to the seller. The Company concluded that the transaction was a real estate asset acquisition and capitalized the acquisition-related costs. The intangible assets were included in "Deferred expenses and other assets, net" and the intangible liabilities were included in "Accounts payable, accrued expenses and other liabilities" on the Company's consolidated balance sheets. The lease was classified as an operating lease. During the year ended December 31, 2014, the net lease asset was sold to the Net Lease Venture for net proceeds of $93.7 million, which approximated carrying value.
Schedule of pro forma revenues and net income | The following unaudited table summarizes the Company's pro forma revenues and net income for the years ended December 31, 2014 and 2013, as if the acquisition of the properties acquired during the year ended December 31, 2014 was completed on January 1, 2013 ($ in thousands):
| For the Years Ended December 31,
| 2014 |  | 2013
| (unaudited)
Pro forma total revenues | $ | 466,327 |  |  | $ | 399,885 |
Pro forma net income (loss) | 15,351 |  | (as revised) | (112,355 | )
Schedule of income (loss) from discontinued operations | The following table summarizes income (loss) from discontinued operations for the year ended December 31, 2013 ($ in thousands):
Revenues |  | $ | 5,545 |
Total expenses |  | (3,138 | )
Impairment of assets |  | (1,763 | )
Income (loss) from discontinued operations |  | $ | 644 |
Schedule of future minimum rental payments for operating leases | Future minimum operating lease payments to be collected under non-cancelable leases, excluding customer reimbursements of expenses, in effect as of December 31, 2015, are as follows ($ in thousands):
Year |  | Net Lease Assets |  | Operating Properties
2016 |  | $ | 121,168 |  |  | $ | 46,438 |
2017 |  | 117,110 |  |  | 46,358 |
2018 |  | 115,158 |  |  | 42,010 |
2019 |  | 113,969 |  |  | 37,990 |
2020 |  | 112,483 |  |  | 34,281 |
Future minimum lease obligations under non-cancelable operating leases are as follows ($ in thousands):
2016 | $ | 5,722 |
2017 | 5,210 |
2018 | 4,185 |
2019 | 3,442 |
2020 | 3,442 |
Thereafter | 4,823 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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