XML 21 R37.htm IDEA: XBRL DOCUMENT v3.3.0.814
Variable Interest Entities, Contingent Liabilities and Consolidated Joint Ventures
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
item
Jun. 30, 2014
USD ($)
item
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
Sep. 30, 2015
USD ($)
item
Sep. 30, 2014
USD ($)
Dec. 31, 2014
USD ($)
Variable Interest Entities                
Mortgage debt $ 325,601,000     $ 325,601,000   $ 325,601,000   $ 292,049,000
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Carrying Amount 16,532,000     16,532,000   16,532,000    
Unbilled rent receivable 13,707,000     13,707,000   13,707,000   12,815,000
Maximum Exposure to Loss 16,532,000     16,532,000   16,532,000    
Restricted cash 1,108,000     1,108,000   1,108,000   1,607,000
Land 25,306,000     25,306,000   25,306,000    
Accrued expenses and other liabilities 15,243,000     15,243,000   15,243,000   12,451,000
Non-controlling interests in joint ventures 2,078,000     2,078,000   2,078,000   1,628,000
Investment in unconsolidated joint ventures 11,273,000     11,273,000   11,273,000   4,907,000
Impairment charge         $ 1,093,000   $ 1,093,000  
Noxell Corporation industrial building, Joppa, Maryland                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Ownership interest in consolidated joint venture of the company (as a percent)     95.00%          
Land 3,815,000     3,815,000   3,815,000   3,805,000
Buildings and improvements, net of depreciation           7,909,000   8,069,000
Cash 824,000     824,000   824,000   527,000
Prepaid expenses and receivables 56,000     56,000   56,000   42,000
Accrued expenses and other liabilities 120,000     120,000   120,000   152,000
Non-controlling interests in joint ventures $ 323,000     $ 323,000   323,000   312,000
Depreciation           $ 275,000   17,000
Non Variable Interest Entity | Consolidated JV                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Number of joint ventures with controlling interest | item           6    
Non Variable Interest Entity | Minimum | Consolidated JV                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Ownership interest in consolidated joint venture of the company (as a percent) 85.00%     85.00%   85.00%    
Non Variable Interest Entity | Maximum | Consolidated JV                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Ownership interest in consolidated joint venture of the company (as a percent) 95.00%     95.00%   95.00%    
MCB Real Estate LLC And Its Affiliates | Consolidated JV                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Number of joint ventures with controlling interest | item           5    
Investment in consolidated joint ventures $ 19,240,000     $ 19,240,000   $ 19,240,000    
MCB Real Estate LLC And Its Affiliates | Consolidated JV | Pathmark supermarket in Philadelphia, Pennsylvania                
Variable Interest Entities                
Mortgage debt 4,500,000     4,500,000   4,500,000    
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Investment in consolidated joint ventures 3,100,000     3,100,000   $ 3,100,000    
Wrote off of straight line rent 89,000              
Wrote off of intangible lease liabilities 124,000              
Increase in rental income 35,000              
Wrote off of tenant origination costs 380,000              
Percentage of rental income           1.30%    
Land - The Meadows Apartments, Lakemoor, Illinois                
Variable Interest Entities                
Contract purchase price (real estate)   $ 9,300,000       $ 9,300,000    
Number of apartment units in the complex purchased | item   496            
Mortgage debt 43,824,000     43,824,000   43,824,000    
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Land 9,563,000     9,563,000   9,563,000    
Land - The Meadows Apartments, Lakemoor, Illinois | Land                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Carrying Amount 9,563,000     9,563,000   9,563,000    
Maximum Exposure to Loss 9,563,000     9,563,000   9,563,000    
Land - River Crossing Apartments, Sandy Springs, Georgia                
Variable Interest Entities                
Contract purchase price (real estate)     $ 6,510,000          
Number of apartment units in the complex purchased | item     196          
Mortgage debt 16,230,000     16,230,000   16,230,000    
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Additional reserve received for tenant improvements       39,000   39,000    
Restricted cash for tenant improvements and other reserve, net     $ 1,894,000     (538,000) 0  
Restricted cash 1,108,000     1,108,000   1,108,000   $ 1,607,000
Land - River Crossing Apartments, Sandy Springs, Georgia | Land                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Carrying Amount 6,528,000     6,528,000   6,528,000    
Maximum Exposure to Loss 6,528,000     6,528,000   6,528,000    
Land - River Crossing Apartments, Sandy Springs, Georgia | Unbilled rent receivable                
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure                
Carrying Amount 441,000     441,000   441,000    
Maximum Exposure to Loss $ 441,000     441,000   441,000    
The Meadows Apartments, Lakemoor, Illinois and River Crossing Apartments, Sandy Springs, Georgia                
Variable Interest Entities                
Revenue from the ground lease       $ 460,000 $ 232,000 $ 1,166,000 $ 299,000