Investment in Unconsolidated Real Estate Entities (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information of Unconsolidated Real Estate Entity

The table below presents the combined and condensed balance sheets for the Company’s unconsolidated joint ventures:

	December 31, 2020		December 31, 2019
ASSETS
Investment in real estate, net	$	855,639	$	794,321
Other assets	51,118		51,597
TOTAL ASSETS	906,757		845,918
LIABILITIES
Secured debt, net	495,771		480,127
Other liabilities	52,828		42,672
TOTAL LIABILITIES	548,599		522,799
Company’s capital(1)	80,778		64,624
Partner's capital	277,380		258,495
TOTAL CAPITAL	358,158		323,119
TOTAL LIABILITIES AND CAPITAL	$	906,757	$	845,918

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1.To the extent the Company’s cost basis is different from the basis reflected at the joint venture level, the basis is amortized over the life of the related asset and is included in the income (loss) from unconsolidated real estate entities line item on the Consolidated Statements of Operations.

The table below presents the combined and condensed statements of operations for the Company’s unconsolidated joint ventures:

	Year Ended		June 5, 2019 through
	December 31, 2020		December 31, 2019
TOTAL REVENUES	$	69,592	$	41,687
TOTAL EXPENSES	(65,983)		(46,434)
NET INCOME (LOSS)	$	3,609	$	(4,747)