Investment in Affiliates

9 Months Ended

Sep. 30, 2015

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]


6.	Investment in Affiliates

On July 8, 2015, the Euro JV distributed proceeds from the sale of the Crowne Plaza Hotel Amsterdam City Centre to its Fund I partners, of which Host’s share was approximately €19 million ($21 million). Additionally, in July 2015, the Euro JV Fund II partners amended the Euro JV partnership agreement to extend the commitment period for Euro JV Fund II by one year to June 27, 2016.

Subsequent to quarter end, on October 28, 2015, the Euro JV sold a portfolio of eight hotels for approximately €420 million ($464 million) and repaid the corresponding €185 million ($204 million) of mortgage loans associated with the properties. We anticipate a gain on sale for the Euro JV of approximately €26 million ($29 million) in the fourth quarter.

On October 14, 2015, our Asia/Pacific JV sold the Four Points by Sheraton Perth for A$91.5 million ($67 million) and repaid A$43 million ($32 million) of associated mortgage debt. The joint venture will record a gain on sale of approximately A$23 million ($17 million) in the fourth quarter.