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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summarized Financial Information - 110 William Joint Venture) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Balance Sheet Related Disclosures [Abstract]          
Real estate assets, net of accumulated depreciation and amortization $ 840,423   $ 840,423   $ 847,734
Total assets 1,024,887   1,024,887   1,022,514
Other liabilities 9,445   9,445   9,192
Total Liabilities and Equity 1,024,887   1,024,887   1,022,514
Balance outstanding 539,928   539,928    
Income Statement [Abstract]          
Revenues 28,667 $ 26,244 56,610 $ 50,871  
Operating, maintenance, and management 8,980 8,578 17,924 17,293  
Real estate taxes and insurance 3,839 3,426 7,498 6,920  
Real estate acquisition fees and expenses 0 4 0 2,180  
Depreciation and amortization 11,159 11,883 22,387 23,614  
Interest expense 3,857 4,595 7,769 8,028  
Total expenses 30,781 31,373 61,440 65,716  
Net income (loss) attributable to common stockholders 1,526 (5,331) 3,761 (14,948)  
Company's equity in loss of unconsolidated joint venture (118) (333) (336) (501)  
Mortgages [Member] | First Mortgage Loan [Member]          
Balance Sheet Related Disclosures [Abstract]          
Balance outstanding 139,600   $ 139,600   140,700
Basis spread on variable rate [1],[2]     4.80%    
Mortgages [Member] | Mezzanine Loan [Member]          
Balance Sheet Related Disclosures [Abstract]          
Balance outstanding 20,000   $ 20,000   20,000
Basis spread on variable rate [1],[2]     9.50%    
Notes Payable [Member]          
Balance Sheet Related Disclosures [Abstract]          
Unamortized premium 6,000   $ 6,000   7,500
110 William Joint Venture [Member]          
Balance Sheet Related Disclosures [Abstract]          
Real estate assets, net of accumulated depreciation and amortization 272,723   272,723   276,683
Other assets 17,394   17,394   15,858
Total assets 290,117   290,117   292,541
Notes payable, net [3] 165,645   165,645   168,178
Other liabilities 13,629   13,629   15,796
Partners’ capital 110,843   110,843   108,567
Total Liabilities and Equity 290,117   290,117   $ 292,541
Income Statement [Abstract]          
Revenues 8,413 5,448 16,698 5,448  
Operating, maintenance, and management 2,784 1,389 5,487 1,389  
Real estate taxes and insurance 1,352 849 2,687 849  
Real estate acquisition fees and expenses 0 711 0 991  
Depreciation and amortization 3,222 2,056 6,282 2,056  
Interest expense 1,542 1,031 3,075 1,031  
Total expenses 8,900 6,036 17,531 6,316  
Other income 307 33 308 33  
Net income (loss) attributable to common stockholders (180) (555) (525) (835)  
Company's equity in loss of unconsolidated joint venture $ (118) $ (333) $ (336) $ (501)  
[1] Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2015. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2015 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at June 30, 2015, where applicable.
[2] The Portfolio Revolving Loan Facility is secured by the 1800 West Loop Building and the Iron Point Business Park. The Portfolio Revolving Loan Facility is comprised of $59.5 million of revolving debt and $13.0 million of non-revolving debt available to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of June 30, 2015, $30.0 million of revolving debt and $9.8 million of non-revolving debt had been disbursed to the Company and the remaining $29.5 million of revolving debt and $3.2 million of non-revolving debt is available for future disbursements, subject to certain conditions contained in the loan documents. Monthly payments are initially interest only. Beginning June 1, 2016, and to the extent that there are amounts outstanding under the non-revolving portion of the loan, monthly payments will include interest and principal amortization payments of up to $80,000 per month.
[3] Includes (i) a first mortgage loan with an outstanding principal balance of $139.6 million and $140.7 million as of June 30, 2015 and December 31, 2014, respectively, bearing interest at a fixed rate of 4.8% per annum and maturing on July 6, 2017 and (ii) a mezzanine loan with an outstanding principal balance of $20.0 million as of June 30, 2015 and December 31, 2014 bearing interest at a fixed rate of 9.5% per annum and maturing on July 6, 2017. The amount presented is net of a premium on notes payable of $6.0 million and $7.5 million as of June 30, 2015 and December 31, 2014, respectively.