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REAL ESTATE AND OTHER AFFILIATES (Tables)-K
 12 Months Ended
Dec. 31, 2014
REAL ESTATE AND OTHER AFFILIATES  
Schedule of information related to investments in real estate and other affiliates

 

 

Economic/ Legal Ownership

 

Carrying Value

 

Share of Earnings/Dividends

 

 

 

December 31, 

 

December 31,

 

December 31,

 

 

    

2014

    

2013

    

2014

    

2013

    

2014

    

2013

    

2012

 

 

 

(In percentages)

 

(In thousands)

 

Equity Method Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Circle T Ranch and Power Center (a)

 
50.00 

%  
50.00 

%  

$
9,004 

 

$
9,004 

 

$

 -

 

$

 -

 

$

 -

 

Discovery Land (a)

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Forest View/Timbermill Apartments (b) (c)

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
4 

 

HHMK Development, LLC  (a) (d)

 
50.00 

%
50.00 

%

 
10 

 

 
13 

 

 
2,120 

 

 
732 

 

 

 -

 

KR Holdings, LLC (a) (d)

 
50.00 

%
50.00 

%

 
9,183 

 

 
19,764 

 

 
19,470 

 

 
9,877 

 

 

 -

 

Millennium Waterway Apartments (c) (e)

 
100.00 

%
100.00 

%

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
407 

 

Millennium Woodlands Phase II, LLC (c) (f)

 
81.43 

%
81.43 

%

 
1,023 

 

 
2,174 

 

 
(1,291)

 

 
(74)

 

 

 -

 

Parcel C (a) (d)

 
50.00 

%
50.00 

%

 
8,737 

 

 
5,801 

 

 

 -

 

 

 -

 

 

 -

 

The Metropolitan Downtown Columbia (a)

 
50.00 

%
50.00 

%

 
4,800 

 

 
3,461 

 

 

 -

 

 

 -

 

 

 -

 

Stewart Title (c)

 
50.00 

%
50.00 

%

 
3,869 

 

 
3,843 

 

 
1,301 

 

 
1,223 

 

 
902 

 

Summerlin Apartments, LLC (a) (d)

 
50.00 

%
50.00 

%

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Summerlin Las Vegas Baseball Club (c) (d)

 
50.00 

%
50.00 

%

 
10,548 

 

 
10,636 

 

 
(88)

 

 
(13)

 

 

 -

 

Woodlands Sarofim #1 (c)

 
20.00 

%
20.00 

%

 
2,595 

 

 
2,579 

 

 
175 

 

 
180 

 

 
(6)

 

 

 

 

 

 

 

 
49,769 

 

 
57,275 

 

 
21,687 

 

 
11,925 

 

 
1,307 

 

Cost basis investments

 

 

 

 

 

 
3,917 

 

 
3,746 

 

 
1,649 

 

 
2,503 

 

 
2,376 

 

Investment in Real Estate and Other Affiliates

 

 

 

 

 

$
53,686 

 

$
61,021 

 

$
23,336 

 

$
14,428 

 

$
3,683 

 

(a)

Investment included in Strategic Developments segment.

(b)

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.

(c)

Investment included in Operating Assets segment.

(d)

Equity method variable interest entities.

(e)

On May 31, 2012, we acquired our partner’s interest for $6.9 million and consolidated this property.

(f)

Millennium Woodlands Phase II, LLC was placed into service in the beginning of the third quarter of 2014.