XML 28 R13.htm IDEA: XBRL DOCUMENT v3.21.2
Investment in Unconsolidated Fund
 9 Months Ended
Sep. 30, 2021
Real Estate Investments, Net [Abstract]  
Investment in Unconsolidated Fund Investment in Unconsolidated Fund
Description of our Fund

As of September 30, 2021 and 2020, we managed and owned an equity interest of 33.5% in an unconsolidated Fund, Partnership X, through which we and other investors in the Fund owned two office properties totaling 0.4 million square feet. We purchased an additional interest of 3.6% in Partnership X for $6.6 million during the nine months ended September 30, 2020.
Partnership X pays us fees and reimburses us for certain expenses related to property management and other services we provide, which are included in Other income in our consolidated statements of operations. We also receive distributions based on invested capital and on any profits that exceed certain specified cash returns to the investors. The table below presents cash distributions we received from Partnership X:
Nine Months Ended September 30,
 (In thousands)20212020
Operating distributions received$709 $394 
Capital distributions received779 884 
Total distributions received$1,488 $1,278 


Summarized Financial Information for Partnership X

The tables below present selected financial information for Partnership X.  The amounts presented reflect 100% (not our pro-rata share) of amounts related to Partnership X, and are based upon historical acquired book value:

 (In thousands)September 30, 2021December 31, 2020
Total assets$138,457 $133,617 
Total liabilities$117,274 $112,706 
Total equity$21,183 $20,911 


 Nine Months Ended September 30,
 (In thousands)20212020
Total revenues$12,643 $11,681 
Operating income$3,508 $2,724 
Net income$1,801 $701