Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Summary of Accrued Revenues and Expenses Expected to Incur During Liquidation

As of December 31, 2017 and 2016, the Liquidating Trust had accrued the following revenues and expenses expected to be earned or incurred during liquidation (in thousands):

	December 31, 2017			December 31, 2016
Rents and reimbursements	$	2,694		$	14,369
Interest income		513			1,036
Property operating expenses		(36	)		(4,803	)
Interest expense		(1,101	)		(4,911	)
General and administrative expenses		(17,992	)		(24,867	)
Capital expenditures		—			(1,159	)
Sales costs		(684	)		(2,851	)
Liability for estimated costs in excess of estimated receipts during liquidation	$	(16,606	)	$	(23,186	)

Schedule of Changes in Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation

The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2017 is as follows (in thousands):

	December 31, 2016			Cash Payments (Receipts)			Remeasurement of Assets and Liabilities		December 31, 2017
Assets:
Estimated net inflows from investments in real estate and loan receivable	$	3,392		$	(2,379	)	$	542	$	1,555
Liabilities:
Sales costs		(2,851	)		2,027			140		(684	)
Corporate expenditures		(23,727	)		3,669			2,581		(17,477	)
		(26,578	)		5,696			2,721		(18,161	)
Total liability for estimated costs in excess of estimated receipts during liquidation	$	(23,186	)	$	3,317		$	3,263	$	(16,606	)

The change in the liability for estimated costs in excess of estimated receipts during liquidation as of December 31, 2016 is as follows (in thousands):

	December 31, 2015			Cash Payments (Receipts)			Remeasurement of Assets and Liabilities			Consolidation (1)			December 31, 2016
Assets:
Estimated net inflows from investments in real estate, loans receivable and secured financing receivable	$	10,523		$	(4,847	)	$	(978	)	$	(1,306	)	$	3,392
Liabilities:
Sales costs		(5,986	)		3,215			363			(443	)		(2,851	)
Corporate expenditures		(33,834	)		7,351			2,756			—			(23,727	)
		(39,820	)		10,566			3,119			(443	)		(26,578	)
Total liability for estimated costs in excess of estimated receipts during liquidation	$	(29,297	)	$	5,719		$	2,141		$	(1,749	)	$	(23,186	)

(1) Due to a change in exit strategy, the venture that owned property in Oklahoma City, Oklahoma was no longer accounted for using the equity method. See Note 3 – Basis of Presentation for the Liquidating Trust’s policy on accounting for joint ventures.