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Self Administration Transaction (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Business Acquisition, Pro Forma Information [Table Text Block] | The following condensed pro forma operating information is presented as if the Self Administration Transaction and Mergers occurred in 2018 and had been included in operations as of January 1, 2018. The pro forma operating information excludes certain nonrecurring adjustments, such as acquisition fees and expenses incurred, to reflect the pro forma impact the acquisition would have on earnings on a continuous basis:
| Six Months Ended June 30, 2018
Revenue | $ | 166,390 |
Net income | $ | 32,989 |
Net income attributable to noncontrolling interests | $ | 5,001 |
Net income attributable to common stockholders (1) | $ | 27,812 |
Net income attributable to common stockholders per share, basic and diluted | $ | 0.16 |
(1) | Amount is net of net income attributable to noncontrolling interests, distributions to redeemable noncontrolling interests attributable to common stockholders and distributions to preferred shareholders.
Schedule of Consideration Given to Acquire Interest | Under the terms of the Self Administration Transaction, the following consideration was given in exchange for 100% of the membership interests in GRECO:
| Amount
Fair value of EA-1 Operating Partnership units issued | $ | 205,000 |
Fair value of earn-outs | 29,380 |
Accrued liabilities: |
Executive deferred compensation plan | 7,795 |
Other liabilities | 11,890 |
Total consideration | 254,065 |
Less: accounts receivable from affiliates and other assets | (19,878 | )
Net consideration | $ | 234,187 |
Schedule of Purchase Price Allocation | During the six months ended June 30, 2019, the allocation of the Self Administration Transaction purchase price is considered preliminary. The Company is continuing to gather additional information to finalize the fair values of the assets and liabilities acquired. The following table summarizes the preliminary purchase price allocation:
| Amount
Assets: |
Accounts receivable from affiliates and other assets | $ | 19,878 |
Management contract intangibles | 4,239 |
Goodwill | 229,948 |
Total assets acquired | 254,065 |
Liabilities: |
Earn-outs (due to affiliates) | 29,380 |
Executive deferred compensation plan | 7,795 |
Other liabilities | 11,890 |
Total liabilities assumed | 49,065 |
Net assets acquired | $ | 205,000 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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