XML 59 R43.htm IDEA: XBRL DOCUMENT

Unconsolidated Affiliates and Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2020

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Condensed Combined Financial Statements of Unconsolidated Affiliates

Condensed combined financial statement information of the unconsolidated affiliates is as follows:

	June 30, 2020			December 31, 2019
ASSETS:
Investment in real estate assets	$	2,324,956		$	2,293,438
Accumulated depreciation		( 835,032	)		( 803,909	)
		1,489,924			1,489,529
Developments in progress		47,761			46,503
Net investment in real estate assets		1,537,685			1,536,032
Other assets		170,711			154,427
Total assets	$	1,708,396		$	1,690,459
LIABILITIES:
Mortgage and other indebtedness, net	$	1,432,269		$	1,417,644
Other liabilities		40,449			41,007
Total liabilities		1,472,718			1,458,651
OWNERS' EQUITY:
The Company		150,542			149,376
Other investors		85,136			82,432
Total owners' equity		235,678			231,808
Total liabilities and owners’ equity	$	1,708,396		$	1,690,459

	Three Months Ended June 30,
	2020			2019
Total revenues	$	46,661		$	54,230
Net income (loss) ⁽¹⁾	$	( 6,511	)	$	2,993
(1) The Company's pro rata share of net income (loss) is $( 6,079) and $1,872 for the three months ended June 30, 2020 and 2019, respectively.

	Six Months Ended June 30,
	2020			2019
Total revenues	$	107,175		$	110,097
Net income (loss) ⁽¹⁾	$	( 1,468	)	$	9,003

(1)	The Company's pro rata share of net income (loss) is $( 5,061) and $5,180 for the six months ended June 30, 2020 and 2019, respectively.

Schedule of Limited Partners' Capital Account by Class

Noncontrolling interests consist of the following:

	As of
	June 30, 2020		December 31, 2019
Noncontrolling interests:
Operating Partnership	$	214	$	31,592
Other consolidated subsidiaries		23,135		23,961
	$	23,349	$	55,553

Schedule of Variable Interest Entities

The table below lists the Company's unconsolidated VIEs as of June 30, 2020:

Unconsolidated VIEs:	Investment in Real Estate Joint Ventures and Partnerships		Maximum Risk of Loss
Ambassador Infrastructure, LLC ⁽¹⁾	$	—	$	9,360
BI Development, LLC		—		—
BI Development II, LLC		—		—
Bullseye, LLC		—		—
Continental 425 Fund LLC		7,120		7,120
EastGate Storage, LLC ⁽¹⁾		654		3,904
Hamilton Place Self Storage ⁽¹⁾		1,406		8,408
Parkdale Self Storage, LLC ⁽¹⁾		1,088		7,588
PHG-CBL Lexington, LLC		35		35
Self Storage at Mid Rivers, LLC ⁽¹⁾		605		3,599
Shoppes at Eagle Point, LLC ⁽¹⁾		16,818		29,558
Vision - CBL Hamilton Place, LLC		3,620		3,620
	$	31,346	$	73,192

(1)	The Operating Partnership has guaranteed all or a portion of the debt of each of these VIEs. See Note 12 for more information.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details