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Investments in and Advances to Other Real Estate Partnerships
 12 Months Ended
Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Other Real Estate Partnerships
5. Investments in and Advances to Other Real Estate Partnerships
The investments in and advances to Other Real Estate Partnerships reflects the Operating Partnership’s limited partnership equity interests in the entities referred to in Note 1 to these consolidated financial statements.
Summarized condensed financial information as derived from the financial statements of the Other Real Estate Partnerships is presented below:
Condensed Combined Balance Sheets: 
 
December 31,
2014
 
December 31,
2013
ASSETS
 
 
 
Assets:
 
 
 
Net Investment in Real Estate
$
278,720

 
$
276,294

Note Receivable
77,242

 
119,364

Other Assets, Net
26,884

 
33,234

Total Assets
$
382,846

 
$
428,892

LIABILITIES AND PARTNERS’ CAPITAL
 
 
 
Liabilities:
 
 
 
Mortgage Loans Payable
$
81,231

 
$
97,675

Other Liabilities, Net
10,172

 
13,795

Partners’ Capital
291,443

 
317,422

Total Liabilities and Partners’ Capital
$
382,846

 
$
428,892

Operating Partnership’s Share of Equity
$
290,221

 
$
316,188

Basis Differentials (1)
(77,180
)
 
(119,865
)
Carrying Value of the Operating Partnership’s Investments in Other Real Estate Partnerships
$
213,041

 
$
196,323

_____________________ 
(1)
This amount represents the aggregate difference between the Operating Partnership’s historical cost basis and the basis reflected at the Other Real Estate Partnerships’ level. Basis differentials relate to the elimination of a note receivable and related accrued interest between a Other Real Estate Partnership and wholly owned subsidiaries of the Operating Partnership.
Condensed Combined Statements of Operations: 
 
Year Ended
December 31,
2014
 
Year Ended
December 31,
2013
 
Year Ended
December 31,
2012
Total Revenues
$
41,994

 
$
38,727

 
$
38,362

Property Expenses
(12,966
)
 
(12,022
)
 
(10,987
)
Impairment of Real Estate
—

 
—

 
172

Depreciation and Other Amortization
(11,948
)
 
(11,891
)
 
(13,543
)
Interest Income
1,309

 
4,999

 
7,776

Interest Expense
(4,669
)
 
(4,701
)
 
(5,712
)
Amortization of Deferred Financing Costs
(158
)
 
(187
)
 
(208
)
Loss from Retirement of Debt
(133
)
 
(214
)
 
—

Income from Continuing Operations
13,429

 
14,711

 
15,860

Discontinued Operations:
 
 
 
 
 
Income (Loss) Attributable to Discontinued Operations
50

 
259

 
(126
)
Gain (Loss) on Sale of Real Estate
2,192

 
1,687

 
(93
)
Income (Loss) from Discontinued Operations
2,242

 
1,946

 
(219
)
Gain on Sale of Real Estate
—

 
70

 
—

Net Income
$
15,671

 
$
16,727

 
$
15,641