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Real Estate (Tables)
 12 Months Ended
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


_______________________________________________________________________________
(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

_______________________________________________________________________________
(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