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Investment in Unconsolidated Ventures (Tables)
 9 Months Ended
Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Real Estate Ventures
The following is a summary of the financial position of the Real Estate Ventures as of September 30, 2015 and December 31, 2014 (in thousands):
 
September 30,
2015
 
December 31,
2014
Net property
$
1,165,941

 
$
1,281,282

Other assets
144,415

 
195,121

Other liabilities
65,290

 
68,481

Debt
761,067

 
965,077

Equity
484,000

 
442,845

 
 
 
 
Company’s share of equity (Company’s basis) (a) (b)
$
211,771

 
$
225,004


(a)
This amount includes the effect of the basis difference between the Company's historical cost basis and the basis recorded at the Real Estate Venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing Real Estate Ventures and upon the transfer of assets that were previously owned by the Company into a Real Estate Venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the Real Estate Venture level.
(b)
Does not include the negative investment balance of one real estate venture totaling $1.1 million as of September 30, 2015 and $1.2 million as of December 31, 2014, which is included in other liabilities.
Summary of results of operations of unconsolidated Real Estate Venture
The following is a summary of results of operations of the Real Estate Ventures in which the Company had interests during these periods (in thousands):
 
Three-month periods ended September 30,
 
Nine-month periods ended September 30,
 
2015
 
2014
 
2015
 
2014
Revenue
$
37,076

 
$
37,446

 
$
126,424

 
$
106,905

Operating expenses
(16,917
)
 
(15,433
)
 
(54,581
)
 
(44,257
)
Interest expense, net
(7,936
)
 
(9,245
)
 
(27,918
)
 
(26,234
)
Depreciation and amortization
(15,681
)
 
(13,552
)
 
(52,218
)
 
(40,423
)
Net loss
$
(3,458
)
 
$
(784
)
 
$
(8,293
)
 
$
(4,009
)
 
 
 
 
 
 
 
 
Company’s share of loss (Company’s basis)
$
(1,093
)
 
$
(486
)
 
$
(1,835
)
 
$
(733
)