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Related Party Transactions and Investments in Non-Consolidated Entities (Tables) | 6 Months Ended
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Jun. 30, 2019
Schedule of equity in losses of investments in non-consolidated REITs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30, |
(in thousands) |  | 2019 |  | 2018 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Equity in loss of East Wacker | ​ | $ | — | ​ | $ | 26 | ​
Equity in loss of Grand Boulevard | ​ | ​ | — | ​ | ​ | 52 | ​
Impairment charge | ​ |  | — | ​ |  | 309 | ​
Total | ​ | $ | — | ​ | $ | 387 | ​
Summary of the Sponsored REIT Loans outstanding | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  |  |  | Maximum |  | Amount |  | ​ |  |  |  |  | Interest |
(dollars in thousands, except footnotes) |  | ​ | ​ | Maturity | ​ | Amount | ​ | Drawn at | ​ | Interest | ​ | Draw | ​ | Rate at |
Sponsored REIT |  | Location | ​ | Date | ​ | of Loan | ​ | 30-Jun-19 | ​ | Rate (1) | ​ | Fee (2) | ​ | 30-Jun-19 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Secured revolving line of credit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FSP Satellite Place Corp. |  | Duluth, GA |  | 31-Dec-19 | ​ | $ | 5,500 | ​ | $ | 530 |  | L+ | 4.4 | % | 0.5 | % | 6.83 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage loan secured by property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FSP Monument Circle LLC (3) | ​ | Indianapolis, IN | ​ | 6-Dec-20 | ​ | ​ | 21,000 | ​ | ​ | 21,000 | ​ | ​ | 7.19 | % | n/a | ​ | 7.19 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | $ | 26,500 | ​ | $ | 21,530 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
(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) | This mortgage loan includes an origination fee of $164,000 and an exit fee of $38,000 when repaid by the borrower.
​
Summary of financial information of Sponsored REITs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |
(in thousands) | ​ | 2019 | ​ | 2018 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Balance Sheet Data (unaudited): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Real estate, net | ​ | $ | 44,781 | ​ | $ | 97,034 | ​
Other assets | ​ |  | 9,850 | ​ |  | 18,532 | ​
Total liabilities | ​ |  | (22,775) | ​ |  | (75,382) | ​
Shareholders’ equity | ​ | $ | 31,856 | ​ | $ | 40,184 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Six Months Ended |
​ | ​ | June 30, |
(in thousands) |  | 2019 |  | 2018 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Operating Data (unaudited): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Rental revenues | ​ | $ | 7,152 | ​ | $ | 25,755 | ​
Other revenues | ​ |  | — | ​ |  | 1 | ​
Operating and maintenance expenses | ​ |  | (3,561) | ​ |  | (13,175) | ​
Depreciation and amortization | ​ |  | (2,664) | ​ |  | (8,606) | ​
Interest expense | ​ |  | (2,538) | ​ |  | (4,030) | ​
Gain (loss) on sale | ​ |  | — | ​ |  | 9,393 | ​
Net income (loss) | ​ | $ | (1,611) | ​ | $ | 9,338 | ​
​

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