XML 43 R34.htm IDEA: XBRL DOCUMENT
v3.20.2

Other Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Investments, All Other Investments [Abstract] |
Schedule of other investments and proportionate share of earnings from equity method investments | The Company's other investments and its proportionate share of earnings (losses) from equity method investments were as follows ($ in thousands):
|  |  | Earnings (Losses) from Equity Method Investments(1)
| Carrying Value as of |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| September 30, 2020 |  | December 31, 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Real estate equity investments |  |  |  |  |  |  |  |  |  |  |
Safehold Inc. ("SAFE")(2) | $ | 855,925 |  |  | $ | 729,357 |  |  | $ | 9,331 |  |  | $ | 2,946 |  |  | $ | 36,905 |  |  | $ | 14,076 |
iStar Net Lease II LLC ("Net Lease Venture II") | 103,276 |  |  | 30,712 |  |  | 811 |  |  | (98) |  |  | 1,568 |  |  | (416) |
Other real estate equity investments | 91,672 |  |  | 104,553 |  |  | (3,542) |  |  | 4,574 |  |  | (10,517) |  |  | 2,744 |
Subtotal | 1,050,873 |  |  | 864,622 |  |  | 6,600 |  |  | 7,422 |  |  | 27,956 |  |  | 16,404 |
Other strategic investments(3) | 72,220 |  |  | 43,253 |  |  | 205 |  |  | 195 |  |  | (1,953) |  |  | 162 |
Total | $ | 1,123,093 |  |  | $ | 907,875 |  |  | $ | 6,805 |  |  | $ | 7,617 |  |  | $ | 26,003 |  |  | $ | 16,566 |
____________________________________________________________ (1)For the three months ended September 30, 2020 and 2019, earnings (losses) from equity method investments is net of the Company's pro rata share of $4.6 million and $3.5 million, respectively, of depreciation expense and $14.6 million and $8.2 million, respectively, of interest expense. For the nine months ended September 30, 2020 and 2019, earnings (losses) from equity method investments is net of the Company's pro rata share of $13.4 million and $10.7 million, respectively, of depreciation expense and $44.0 million and $21.6 million, respectively, of interest expense. (2)As of September 30, 2020, the Company owned 33.7 million shares of SAFE common stock which, based on the closing price of $62.10 on September 30, 2020, had a market value of $2.1 billion. For the nine months ended September 30, 2020, equity in earnings includes a dilution gain of $7.9 million resulting from a SAFE equity offering in March 2020. (3)During the three and nine months ended September 30, 2020, the Company identified observable price changes in an equity security held by the Company as evidenced by orderly private issuances of similar securities by the same issuer. In accordance with ASC 321, the Company remeasured its equity investment at fair value and recognized aggregate mark-to-market gains of $14.0 million and $23.9 million, respectively, in "Other income" in the Company's consolidated statements of operations. During the three and nine months ended September 30, 2019, equity in earnings (losses) includes $8.2 million of income resulting from the sale of a property at one of the Company's equity method investments.
Schedule of summarized financial information | The following table presents the investee level summarized financial information of the Company's equity method investments that were significant as of September 30, 2020 ($ in thousands):
|  | Revenues |  | Expenses |  | Net Income Attributable to Parent
For the Nine Months Ended September 30, 2020 |  |  |  |  |  |
SAFE |  | $ | 115,518 |  |  | $ | 73,821 |  |  | $ | 44,024 |
For the Nine Months Ended September 30, 2019 |  |  |  |  |  |
SAFE |  | $ | 63,810 |  |  | $ | 38,480 |  |  | $ | 16,574 |

X
- Definition [Table Text Block] for Equity Method Investments, Summarized Financial Information [Table] + References No definition available. + Details
Name: | star_EquityMethodInvestmentsSummarizedFinancialInformationTableTextBlock
Namespace Prefix: | star_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration