XML 71 R55.htm IDEA: XBRL DOCUMENT v3.3.1.900
REAL ESTATE AND OTHER AFFILIATES (Details)
3 Months Ended 12 Months Ended
Jan. 24, 2014
USD ($)
a
item
Oct. 04, 2013
USD ($)
ft²
a
item
Jul. 11, 2013
USD ($)
Dec. 31, 2015
USD ($)
Mar. 31, 2015
USD ($)
$ / a
Dec. 31, 2015
USD ($)
item
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Oct. 27, 2011
Investment in Real Estate and Other Affiliates                  
Carrying Value       $ 57,811,000   $ 57,811,000 $ 53,686,000    
Share of Earnings/Dividends           3,721,000 23,336,000 $ 14,428,000  
Aggregate carrying value of unconsolidated VIEs       21,500,000   $ 21,500,000 29,500,000    
Number of variable interest entities in which entity is primary beneficiary | item           1      
Carrying values of the assets associated with the operations of the consolidated VIEs       21,500,000   $ 21,500,000 21,100,000    
Carrying values of the liabilities associated with the operations of the consolidated VIEs       1,100,000   1,100,000 600,000    
Book value of land contributed to joint venture       322,462,000   322,462,000 317,211,000    
Area of land contributed to the joint venture (in acres) | a 4.5                
Fair value of the land contributed to joint venture $ 3,200,000                
Percentage of ownership interest of partners in joint venture 50.00%                
Mortgages, notes and loans payable       2,443,962,000   2,443,962,000 1,978,807,000    
Outstanding debt       2,456,354,000   2,456,354,000      
Proceeds from Sale of Real Estate           25,139,000 11,953,000 10,814,000  
Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Carrying Value       53,859,000   53,859,000 49,769,000    
Share of Earnings/Dividends           1,974,000 21,687,000 11,925,000  
Cost-method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Carrying Value       3,952,000   3,952,000 3,917,000    
Share of Earnings/Dividends           $ 1,747,000 $ 1,649,000 2,503,000  
Discovery Land | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Book value of land contributed to joint venture         $ 13,400,000        
SID Bonds Transferred to Joint Venture         1,300,000        
Transaction value of the land contributed to joint venture         $ 125,400,000        
Preferred return, on capital (as a percent)         5.00%        
Return on capital contributions (as a percent)         5.00%        
Entitlement of distribution by joint venture (in times) | item           2      
Value of land contributed to joint venture (in dollars per acre) | $ / a         226,000        
Discovery Land | Equity Method Investments [Member] | Maximum                  
Investment in Real Estate and Other Affiliates                  
Maximum capital contribution required         $ 30,000,000        
The Metropolitan Downtown Columbia                  
Investment in Real Estate and Other Affiliates                  
Cash contributed by joint venture partner     $ 13,300,000            
Fair value of the land contributed to joint venture     20,300,000            
Percentage of ownership interest of partners in joint venture                 50.00%
Mortgages, notes and loans payable     64,100,000            
Transaction value, per constructed unit of land contributed to joint venture     53,500            
Distribution of the cash contributed by joint venture partner     7,000,000            
Additional improvements made in the venture     16,400,000            
Future contribution required     $ 3,100,000            
The Metropolitan Downtown Columbia | Construction Loan Payable                  
Investment in Real Estate and Other Affiliates                  
Outstanding debt       63,100,000   $ 63,100,000      
Interest rate margin (as a percent)     2.40%            
Parcel C                  
Investment in Real Estate and Other Affiliates                  
Transaction value of the land contributed to joint venture   $ 23,400,000              
Number of units in Class A apartment building to be constructed | item   437              
Area of real estate property to be constructed (in square feet) | ft²   31,000              
Area of land contributed to the joint venture (in acres) | a   5              
Fair value of the land contributed to joint venture   $ 4,000,000              
Transaction value, per constructed unit of land contributed to joint venture   $ 53,500              
Constellation                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent) 50.00%                
Number of units in Class A apartment building to be constructed | item 124                
Area Of Land In Downtown Summerlin | a 400                
Percent share of proceeds upon sale of property 50                
Percentage of proceeds in excess of an amount determined by applying a specified capitalization rate to NOI 100.00%                
Capitalization rate (as a percent) 7.00%                
Constellation | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Future contribution required       1,000,000          
Master Planned Communities | Discovery Land                  
Investment in Real Estate and Other Affiliates                  
Carrying Value       $ 12,052,000   $ 12,052,000      
Operating Assets | Millennium Woodlands Phase II LLC | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       81.43%   81.43% 81.43%    
Carrying Value             $ 1,023,000    
Share of Earnings/Dividends           $ (1,165,000) $ (1,012,000)    
Operating Assets | Stewart Title | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 3,715,000   $ 3,715,000 $ 3,869,000    
Share of Earnings/Dividends           $ 996,000 $ 1,301,000 1,223,000  
Operating Assets | Clark County Las Vegas Stadium, LLC | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 11,050,000   $ 11,050,000 $ 10,548,000    
Share of Earnings/Dividends           $ 152,000 $ (88,000) (13,000)  
Operating Assets | The Metropolitan Downtown Columbia | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 4,872,000   $ 4,872,000 $ 4,800,000    
Share of Earnings/Dividends           $ (13,000)      
Operating Assets | Woodlands Sarofim 1 | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       20.00%   20.00% 20.00%    
Carrying Value       $ 2,588,000   $ 2,588,000 $ 2,595,000    
Share of Earnings/Dividends           $ 166,000 $ 175,000 180,000  
Strategic Developments | Millennium Woodlands Phase II LLC | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       81.43%   81.43% 81.43%    
Share of Earnings/Dividends             $ (279,000) (74,000)  
Strategic Developments | Circle T | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 9,128,000   $ 9,128,000 $ 9,004,000    
Strategic Developments | HHMK Development LLC | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 10,000   $ 10,000 $ 10,000    
Share of Earnings/Dividends           $ 549,000 $ 2,120,000 732,000  
Strategic Developments | KR Holdings LLC | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 689,000   $ 689,000 $ 9,183,000    
Share of Earnings/Dividends           $ 1,289,000 $ 19,470,000 $ 9,877,000  
Strategic Developments | Parcel C | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 7,070,000   $ 7,070,000 $ 8,737,000    
Strategic Developments | Constellation | Equity Method Investments [Member]                  
Investment in Real Estate and Other Affiliates                  
Economic interest (as a percent)       50.00%   50.00% 50.00%    
Carrying Value       $ 2,685,000   $ 2,685,000      
Unconsolidated Properties                  
Investment in Real Estate and Other Affiliates                  
Secured debt       109,600,000   109,600,000 $ 89,400,000    
Share of the entity in secured debt       $ 64,800,000   $ 64,800,000 $ 54,600,000    
One Month LIBOR                  
Investment in Real Estate and Other Affiliates                  
Variable rate basis     one-month LIBOR