XML 83 R62.htm IDEA: XBRL DOCUMENT v3.6.0.2
Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Real estate and development in process, net $ 15,925,028 $ 15,555,641
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 2,063,087 3,435,242
Other Liabilities 450,821 483,601
Total liabilities and equity / capital 18,851,643 18,351,486
Carying value of the Company's investment in unconsolidated joint ventures 775,198 235,224
Unconsolidated Joint Ventures [Member]    
ASSETS    
Real estate and development in process, net 1,519,217 1,072,412
Other assets 297,263 252,285
Total assets 1,816,480 1,324,697
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 865,665 830,125
Other Liabilities 67,167 44,549
Members'/Partners' equity 883,648 450,023
Total liabilities and equity / capital 1,816,480 1,324,697
Company's share of equity 450,662 237,070
Basis differentials [1] 302,449 (27,047)
Carying value of the Company's investment in unconsolidated joint ventures [2] 753,111 210,023
Colorado Center [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 328,800  
Unconsolidated Joint Ventures [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities $ 22,100 $ 25,200
[1] This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials result from impairments of investments, acquisitions through joint ventures with no change in control and upon the transfer of assets that were previously owned by the Company into a joint venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level. At December 31, 2016, there is an aggregate basis differential of approximately $328.8 million between the carrying value of the Company’s investment in the joint venture that owns Colorado Center and the joint venture’s basis in the assets and liabilities, which differential (excluding land) shall be amortized over the remaining lives of the related assets and liabilities.
[2] Investments with deficit balances aggregating approximately $22.1 million and $25.2 million at December 31, 2016 and 2015, respectively, have been reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.