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REAL ESTATE AFFILIATES (Tables)
 9 Months Ended
Sep. 30, 2013
REAL ESTATE AFFILIATES  
Schedule of information related to investments in real estate affiliates

 

 

 

Economic/ Legal Ownership

 

Carrying Value

 

Share of Earnings/Dividends

 

 

 

September 30,

 

December 31,

 

September 30,

 

December 31,

 

Three Months Ended Setpember 30,

 

Nine Months Ended September 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

2013

 

2012

 

2013

 

2012

 

 

 

(In percentages)

 

(In thousands)

 

(In thousands)

 

Equity Method Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forest View/Timbermill Apartments (a)

 

—

 

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

4

 

Millennium Waterway Apartments (b)

 

100.00

%

100.00

%

—

 

—

 

—

 

—

 

—

 

406

 

Millennium Woodlands Phase II, LLC (c)

 

81.43

%

81.43

%

2,160

 

2,190

 

(59

)

—

 

(59

)

—

 

KR Holdings, LLC (c)

 

50.00

%

50.00

%

16,762

 

—

 

2,716

 

—

 

7,907

 

—

 

Summerlin Las Vegas Baseball Club (c)

 

50.00

%

50.00

%

10,870

 

300

 

220

 

—

 

220

 

—

 

Circle T

 

50.00

%

50.00

%

9,004

 

9,004

 

—

 

—

 

—

 

—

 

Parcel D Development, LLC (c)

 

50.00

%

50.00

%

3,873

 

4,330

 

—

 

—

 

—

 

—

 

Stewart Title

 

50.00

%

50.00

%

3,769

 

3,871

 

382

 

324

 

899

 

640

 

HHMK Development, LLC (c)

 

50.00

%

50.00

%

110

 

1,257

 

290

 

—

 

443

 

—

 

Woodlands Sarofim #1

 

20.00

%

20.00

%

2,570

 

2,450

 

45

 

(14

)

121

 

6

 

 

 

 

 

 

 

49,118

 

23,402

 

3,594

 

310

 

9,531

 

1,056

 

Cost basis investments

 

 

 

 

 

8,555

 

8,777

 

—

 

—

 

2,503

(d)

2,376

(d)

Investment in Real Estate Affiliates

 

 

 

 

 

$

57,673

 

$

32,179

 

$

3,594

 

$

310

 

$

12,034

 

$

3,432

 

 

(a)   On April 19, 2012, the joint ventures owning the Forest View and Timbermill Apartments completed their sale to a third party. Our share of the distributable cash, after repayment of debt and transaction expenses, was $8.6 million.

(b)  On May 31, 2012, we acquired our partner’s interest for $6.9 million and consolidated this property. See below for further discussion.

(c)   Equity method variable interest entities.

(d)  Includes distribution received from Summerlin Hospital Medical Center.