Investments in Real Estate Ventures (Tables)

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The following table summarizes the above discussion relative to LIC II:

($ in millions)	December 31, 2016
Our effective ownership interest in co-investment vehicle	48.78		%
Our maximum potential unfunded commitments in LIC II	$	68.8
Our share of LIC II's unfunded capital commitments to underlying funds	30.0
Our share of exposure on LIC II's outstanding borrowings	0.7
Our maximum exposure, assuming LIC II's facility is fully drawn	4.9

Balance Sheet Amounts Consolidated for Variable Interest Entity [Table Text Block]

Summarized financial information for our consolidated VIEs is presented in the following tables.

	December 31,
($ in millions)	2016		2015
Property and equipment, net	$	13.8	32.6
Investments in real estate ventures	10.3		6.6
Other assets (1)	40.7		4.9
Total assets	$	64.8	44.1
Mortgage indebtedness	$	9.7	25.8
Other liabilities (1)	35.0		—
Total liabilities	44.7		25.8
Members' equity	20.1		18.3
Total liabilities and members' equity	$	64.8	44.1

(1) Balances primarily represent investments or properties and their corresponding liabilities, classified as held-for-sale.

Comprehensive Income Amounts Consolidated for Variable Interest Entity [Table Text Block]

	Year Ended December 31,
($ in millions)	2016			2015		2014
Revenue (2)	$	6.6		8.5		4.2
Operating and other expenses	(7.1		)	(3.9	)	(3.9	)
Gain on sale of investments	13.3			1.4		—
Net income	$	12.8		6.0		0.3

(2) Includes $3.3 million for the year ended December 31, 2015, representing our proportionate share of the gain on the sale of real estate by an investment of one of our consolidated VIE's that was accounted for pursuant to the equity method.

Summary of Combined Financial Information for Unconsolidated Ventures

The following tables summarize the combined financial information for our unconsolidated real estate ventures (including those held via LIC II) accounted for under equity method or at fair value.

				December 31,
($ in millions)				2016		2015
Balance Sheets:
	Investments in real estate, net of depreciation			$	14,780.7	12,216.7
	Total assets			16,728.2		13,993.9
	Mortgage indebtedness			5,480.6		4,345.9
	Other borrowings			502.0		628.2
	Total liabilities			6,729.7		5,608.3
	Total equity			9,998.5		8,385.6
		Year Ended December 31,
($ in millions)		2016		2015		2014
Statements of Operations:
	Revenue	$	1,266.8	1,473.6		1,397.6
	Net income	874.7		1,179.5		1,099.1

Investments in real estate ventures

The table below shows the movement in our investments in real estate ventures reported at fair value.

	Year Ended December 31,
($ in millions)	2016			2015		2014
Fair value investments as of January 1,	$	155.2		113.6		78.9
Investments	105.8			33.8		35.2
Distributions	(62.1		)	(9.0	)	(3.1	)
Net fair value gains	16.6			21.1		7.1
Foreign currency translation adjustments, net	(2.8		)	(4.3	)	(4.5	)
Fair value investments as of December 31,	$	212.7		155.2		113.6