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Investments and Dispositions
3 Months Ended
Mar. 31, 2017
Investments [Abstract]  
Investments
Investments and Dispositions

The Company's investment spending during the three months ended March 31, 2017 totaled $227.2 million, and included investments in each of its four operating segments.

Entertainment investment spending during the three months ended March 31, 2017 totaled $30.1 million, including spending on build-to-suit development and redevelopment of megaplex theatres, entertainment retail centers and family entertainment centers.

Education investment spending during the three months ended March 31, 2017 totaled $105.9 million, including spending on build-to-suit development and redevelopment of public charter schools, early education centers and private schools, as well as $7.3 million in acquisitions of four early education centers and an investment of $42.9 million in mortgage notes secured by eight early education centers and private schools.

Recreation investment spending during the three months ended March 31, 2017 totaled $90.5 million, including spending on build-to-suit development of golf entertainment complexes and attractions, redevelopment of ski areas and $34.2 million in acquisitions of three other recreation facilities. Additionally, included in recreation investment spending was an investment of $10.5 million in a mortgage note secured by one other recreation facility.

Other investment spending during the three months ended March 31, 2017 totaled $0.7 million, and was related to the Adelaar casino and resort project in Sullivan County, New York.

During the three months ended March 31, 2017, pursuant to tenant purchase options, the Company completed the sale of two public charter schools located in Colorado and Arizona for net proceeds totaling $16.9 million. In connection with these sales, the Company recognized a gain on sale of $2.1 million. In addition, during the three months ended March 31, 2017, the Company completed the sale of a retail space located in Texas for net proceeds of $1.2 million. In connection with this sale, the Company recognized a loss on sale of $74 thousand.

On March 30, 2017, the Company received a partial prepayment of $4.0 million on one mortgage note receivable that is secured by the observation deck of the John Hancock building in Chicago, Illinois. In connection with the partial prepayment of this note, the Company received a prepayment fee of $800.0 thousand, which will be recognized over the term of the remaining note using the effective interest method.