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Related Party Transactions and Investments in Non-Consolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2014
Related Party Transactions and Investments in Non-Consolidated Entities |
Schedule of equity in losses of investments in non-consolidated REITs |
|  | Nine Months Ended |
|  | September 30, |
(in thousands) |  | 2014 |  | 2013 |
Equity in loss of East Wacker |  | $ | 1,346 |  | $ | 572 |
Equity in loss of Grand Boulevard |  | 145 |  | 242 |
|  | $ | 1,491 |  | $ | 814 |
Summary of financial information of sponsored REITs |
|  | September 30, |  | December 31, |
(in thousands) |  | 2014 |  | 2013 |
Balance Sheet Data (unaudited): |  |  |  |  |
Real estate, net |  | $ | 461,717 |  | $ | 642,105 |
Other assets |  | 128,982 |  | 187,494 |
Total liabilities |  | (198,079 | ) | (321,099 | )
Shareholders’ equity |  | $ | 392,620 |  | $ | 508,500 |
|  | For the Nine Months Ended |
|  | September 30, |
(in thousands) |  | 2014 |  | 2013 |
Operating Data (unaudited): |  |  |  |  |
Rental revenues |  | $ | 52,904 |  | $ | 70,427 |
Other revenues |  | 33 |  | 52 |
Operating and maintenance expenses |  | (27,403 | ) | (36,395 | )
Depreciation and amortization |  | (18,278 | ) | (23,638 | )
Interest expense |  | (7,306 | ) | (10,261 | )
Net income |  | $ | (50 | ) | $ | 185 |
Summary of the Sponsored REIT Loans outstanding |
|  |  |  |  |  | Maximum |  | Amount |  |  |  |  |  | Interest |
(dollars in thousands) |  |  |  | Maturity |  | Amount |  | Drawn at |  | Interest |  | Draw |  | Rate at |
Sponsored REIT |  | Location |  | Date |  | of Loan |  | 30-Sep-14 |  | Rate (1) |  | Fee (2) |  | 30-Sep-14 |
Secured revolving lines of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP Highland Place I Corp. |  | Centennial, CO |  | 31-Dec-14 |  | $ | 5,500 |  | $ | 3,395 |  | L+4.4 | % | 0.5 | % | 4.56 | %
FSP Satellite Place Corp. |  | Duluth, GA |  | 31-Mar-15 |  | 5,500 |  | 5,500 |  | L+4.4 | % | 0.5 | % | 4.56 | %
FSP 1441 Main Street Corp. |  | Columbia, SC |  | 31-Mar-15 |  | 10,800 |  | 9,000 |  | L+4.4 | % | 0.5 | % | 4.56 | %
FSP Energy Tower I Corp. |  | Houston, TX |  | 3-Jul-15 |  | 20,000 |  | — |  | L+5.0 | % | 0.5 | % | 5.16 | %
Secured construction loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP 385 Interlocken Development Corp. |  | Broomfield, CO |  | 30-Apr-15 |  | 42,000 |  | 37,541 |  | L+4.4 | % | n/a |  | 4.56 | %
Mortgage loan secured by property |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP Energy Tower I Corp. (3) |  | Houston, TX |  | 3-Jul-15 |  | 33,000 |  | 33,000 |  | 6.41 | % | n/a |  | 6.41 | %
|  |  |  |  |  | $ | 116,800 |  | $ | 88,436 |  |  |  |  |  |  |
(1) The interest rate is 30-day LIBOR rate plus the additional rate indicated, otherwise a fixed rate. (2) The draw fee is a percentage of each new advance, and is paid at the time of each new draw. (3) The loan has a secured fixed mortgage amount of $33,000,000, which was extended for one year from July 5, 2014 to July 3, 2015 and an extension fee of $108,900 was paid by the borrower to the Company.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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