Schedule of Combined Financial Information of Investment in Unconsolidated Entities |
The following table presents condensed balance sheet information for IAGM. | | | | | | | | | | | | | As of | | December 31, 2020 | | December 31, 2019 | Assets: | | | | Net investment properties | $ | 387,394 | | | $ | 425,585 | | Other assets | 72,453 | | | 66,437 | | Total assets | 459,847 | | | 492,022 | | Liabilities and equity: | | | | Mortgage debt, net | 242,388 | | | 256,732 | | Other liabilities | 19,144 | | | 20,765 | | Equity | 198,315 | | | 214,525 | | Total liabilities and equity | 459,847 | | | 492,022 | | Company's share of equity | 109,928 | | | 118,861 | | Outside basis difference, net (a) | (877) | | | — | | Carrying value of investments in unconsolidated entities | $ | 109,051 | | | $ | 118,861 | |
(a)The outside basis difference relates to the unamortized deferred gain on sale of Antoine Town Center. The following table presents condensed income statement information of IAGM and disposed joint ventures. | | | | | | | | | | | | | | | | | | | Year ended December 31, | IAGM | 2020 | | 2019 | | 2018 | Total income | $ | 46,259 | | | $ | 53,396 | | | $ | 57,649 | | Depreciation and amortization | (16,303) | | | (20,135) | | | (21,001) | | Property operating | (7,143) | | | (8,372) | | | (8,898) | | Real estate taxes | (8,687) | | | (9,426) | | | (9,891) | | Asset management fees | (1,098) | | | (1,073) | | | (1,080) | | Interest expense, net | (7,455) | | | (10,882) | | | (13,193) | | Other (expense) and income, net | (307) | | | 157 | | | 237 | | Loss on debt extinguishment | (8) | | | — | | | (20) | | Gain (loss) on sale of real estate, net | 1,741 | | | (559) | | | (4,135) | | Provision for asset impairment | (11,016) | | | (1,443) | | | (3,673) | | Net (loss) income | (4,017) | | | 1,663 | | | (4,005) | | Disposed joint venture activity | | | | | | Net (loss) income | — | | | (4,869) | | | 573 | | Total net (loss) income of unconsolidated entities | $ | (4,017) | | | $ | (3,206) | | | $ | (3,432) | | | | | | | | Company's share of net loss | $ | (2,264) | | | $ | (3,446) | | | $ | (1,870) | | Outside basis adjustment for investee's sale of real estate, net | (877) | | | 4,403 | | | — | | Impairment of DRV | — | | | — | | | (29,933) | | Distributions in excess of the investments' carrying value | — | | | — | | | 410 | | Equity in (losses) earnings and (impairment), net, of unconsolidated entities | $ | (3,141) | | | $ | 957 | | | $ | (31,393) | |
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