Historic Tax Credits (Narrative) (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Historic Tax Credits [Abstract]

Historic Tax Credit put option received

$ 1.0

HISTORIC TAX CREDITS

HISTORIC TAX CREDITS

In the second quarter of 2012, we closed a transaction with a Counterparty (the “Counterparty”) related to the historic rehabilitation of an office building located at 801 Market Street in Philadelphia, Pennsylvania (the “Project”). In December 2018, the historic tax credit arrangement ended when the Counterparty exercised its put option and the Project paid a total of $1.0 million, comprised of $0.9 million in exchange for the Counterparty’s ownership interest and an additional $0.1 million in accrued priority returns for 2018.

The tax credits received by the Counterparty were subject to five year credit recapture periods that ended in 2018. Our obligation to the Counterparty with respect to the tax credits was ratably relieved annually each year. In each of the third quarters of 2018, 2017 and 2016, we recognized $1.0 million, $1.9 million, and $1.9 million, respectively, as “Other income” in the consolidated statements of operations.

We also recorded $0.2 million of priority returns earned by the Counterparty during each of the third quarters 2018, 2017 and 2016, respectively.

In aggregate, we recorded $0.8 million, $1.8 million and $1.8 million in net income to “Other income” in the consolidated statements of operations in connection with the Project during the years ended December 31, 2018, 2017 and 2016, respectively.

Amount paid in cash

$ 0.9

Interest and other income

$ 1.9

$ 1.9

Priority Return Expense

$ 0.2

0.2

0.2

Tax Credit Amortization Income

1.0

Interest and Other Income

$ 0.8

$ 1.8

$ 1.8