Investments in Unconsolidated Entities and International Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments in Unconsolidated Entities and International Investments

Summary of equity method investments and share of income from such investments, balance sheet

	December 31,		December 31,
	2021		2020
Assets:
Investment properties, at cost	$	19,724,242	$	20,079,476
Less - accumulated depreciation		8,330,891		8,003,863
		11,393,351		12,075,613
Cash and cash equivalents		1,481,287		1,169,422
Tenant receivables and accrued revenue, net		591,369		749,231
Right-of-use assets, net		154,561		185,598
Deferred costs and other assets		394,691		380,087
Total assets	$	14,015,259	$	14,559,951
Liabilities and Partners’ Deficit:
Mortgages	$	15,223,710	$	15,569,485
Accounts payable, accrued expenses, intangibles, and deferred revenue		995,392		969,242
Lease liabilities		158,372		188,863
Other liabilities		383,018		426,321
Total liabilities		16,760,492		17,153,911
Preferred units		67,450		67,450
Partners’ deficit		(2,812,683)		(2,661,410)
Total liabilities and partners’ deficit	$	14,015,259	$	14,559,951
Our Share of:
Partners’ deficit	$	(1,207,396)	$	(1,130,713)
Add: Excess Investment		1,283,645		1,399,757
Our net Investment in unconsolidated entities, at equity	$	76,249	$	269,044

Schedule of principal repayments on joint venture properties' mortgage and unsecured indebtedness

2022	$	2,111,105
2023		1,515,170
2024		2,851,788
2025		1,755,169
2026		3,032,175
Thereafter		3,995,886
Total principal maturities		15,261,293
Debt issuance costs		(37,583)
Total mortgages	$	15,223,710

Summary of equity method investments and share of income from such investments, statements of operations

	December 31,
	2021		2020		2019
REVENUE:
Lease income	$	2,797,221	$	2,544,134	$	3,088,594
Other income		319,956		300,634		322,398
Total revenue		3,117,177		2,844,768		3,410,992
OPERATING EXPENSES:
Property operating		575,584		519,979		587,062
Depreciation and amortization		686,790		692,424		681,764
Real estate taxes		263,325		262,351		266,013
Repairs and maintenance		79,300		68,722		85,430
Advertising and promotion		72,441		67,434		89,660
Other		200,899		163,710		196,178
Total operating expenses		1,878,339		1,774,620		1,906,107
Operating Income Before Other Items		1,238,838		1,070,148		1,504,885
Interest expense		(605,591)		(616,332)		(636,988)
Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities, net		34,814		—		24,609
Net Income	$	668,061	$	453,816	$	892,506
Third-Party Investors’ Share of Net Income	$	333,304	$	226,364	$	460,696
Our Share of Net Income	$	334,757	$	227,452	$	431,810
Amortization of Excess Investment		(64,974)		(82,097)		(83,556)
Our Share of Gain on Sale or Disposal of Assets and Interests in Other Income in the Consolidated Financial Statements		(14,941)		—		(9,156)
Our Share of Gain on Sale or Disposal of, or Recovery on, Assets and Interests in Unconsolidated Entities, net		(541)		—		(1,133)
Income from Unconsolidated Entities	$	254,301	$	145,355	$	337,965