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Variable Interest Entities
3 Months Ended
Mar. 31, 2017
Variable Interest Entities [Abstract]  
Variable Interest Entities
Variable Interest Entities

The Company’s variable interest in VIEs currently are in the form of equity ownership and loans provided by the Company to a VIE or other partner. The Company examines specific criteria and uses its judgment when determining if the Company is the primary beneficiary of a VIE. Factors considered in determining whether the Company is the primary beneficiary include risk and reward sharing, experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions, representation on a VIE’s executive committee, existence of unilateral kick-out rights or voting rights, and level of economic disproportionality between the Company and the other partner(s).

Consolidated VIEs
As of March 31, 2017, the Company had invested approximately $11.2 million in one real estate project which is a VIE. This entity does not have any other significant assets or liabilities at March 31, 2017 and was established to facilitate the development of a theatre project.

Unconsolidated VIE
At March 31, 2017, the Company's recorded investment in two unconsolidated VIEs totaled $174.9 million. The Company's maximum exposure to loss associated with these VIEs is limited to the Company's outstanding mortgage notes and related accrued interest receivable of $174.9 million. These mortgage notes are secured by three recreation properties and one public charter school. While these entities are VIEs, the Company has determined that the power to direct the activities of these VIEs that most significantly impact the VIEs' economic performance is not held by the Company.