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Investment in Unconsolidated Real Estate Ventures (Tables)
 6 Months Ended
Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Financial Position of Real Estate Ventures
The following is a summary of the financial position of the Real Estate Ventures in which the Company held interests as of June 30, 2020 and December 31, 2019 (in thousands):
 
June 30, 2020
 
MAP Venture
 
Other
 
Total
Net property
$
186,865

 
$
651,223

 
$
838,088

Other assets
251,765

 
85,123

 
336,888

Other liabilities
266,383

 
15,706

 
282,089

Debt, net
182,279

 
426,988

 
609,267

Equity (a)
(10,032
)
 
293,652

 
283,620

 
December 31, 2019
 
MAP Venture
 
Other
 
Total
Net property
$
192,582

 
$
641,785

 
$
834,367

Other assets
256,453

 
85,549

 
342,002

Other liabilities
266,200

 
23,871

 
290,071

Debt, net
181,525

 
403,543

 
585,068

Equity (a)
1,310

 
299,920

 
301,230

(a)
This amount does not include 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.
Investment in Real Estate Ventures and Share of Real Estate Ventures' Income (Loss)
The following is a summary of results of operations of the Real Estate Ventures in which the Company held interests during the three and six-month periods ended June 30, 2020 and 2019 (in thousands):
 
Three Months Ended June 30, 2020
 
MAP Venture
 
Other
 
Total
Revenue
$
16,281

 
$
15,013

 
$
31,294

Operating expenses
(12,016
)
 
(5,990
)
 
(18,006
)
Interest expense, net
(1,831
)
 
(3,324
)
 
(5,155
)
Depreciation and amortization
(5,756
)
 
(6,870
)
 
(12,626
)
Net loss
$
(3,322
)
 
$
(1,171
)
 
$
(4,493
)
Ownership interest %
50
%
 
Various

 
Various

Company's share of net loss
$
(1,661
)
 
$
(553
)
 
$
(2,214
)
Basis adjustments and other
23

 
(12
)
 
11

Equity in loss of Real Estate Ventures
$
(1,638
)
 
$
(565
)
 
$
(2,203
)
 
Three Months Ended June 30, 2019
 
MAP Venture
 
Other
 
Total
Revenue
$
17,796

 
$
15,567

 
$
33,363

Operating expenses
(11,611
)
 
(5,757
)
 
(17,368
)
Interest expense, net
(2,532
)
 
(3,788
)
 
(6,320
)
Depreciation and amortization
(6,550
)
 
(6,922
)
 
(13,472
)
Net loss
$
(2,897
)
 
$
(900
)
 
$
(3,797
)
Ownership interest %
50
%
 
Various

 
Various

Company's share of net loss
$
(1,449
)
 
$
(59
)
 
$
(1,508
)
Basis adjustments and other
15

 
2

 
17

Equity in loss of Real Estate Ventures
$
(1,434
)
 
$
(57
)
 
$
(1,491
)

 
Six Months Ended June 30, 2020
 
MAP Venture
 
Other
 
Total
Revenue
$
33,594

 
$
28,851

 
$
62,445

Operating expenses
(24,243
)
 
(11,724
)
 
(35,967
)
Interest expense, net
(3,879
)
 
(6,266
)
 
(10,145
)
Depreciation and amortization
(11,814
)
 
(13,335
)
 
(25,149
)
Net loss
$
(6,342
)
 
$
(2,474
)
 
$
(8,816
)
Ownership interest %
50
%
 
Various

 
Various

Company's share of net loss
$
(3,171
)
 
$
(909
)
 
$
(4,080
)
Basis adjustments and other
12

 
(26
)
 
(14
)
Equity in loss of Real Estate Ventures
$
(3,159
)
 
$
(935
)
 
$
(4,094
)

 
Six Months Ended June 30, 2019
 
MAP Venture
 
Other
 
Total
Revenue
$
36,084

 
$
32,338

 
$
68,422

Operating expenses
(23,766
)
 
(12,320
)
 
(36,086
)
Interest expense, net
(5,068
)
 
(5,172
)
 
(10,240
)
Depreciation and amortization
(12,899
)
 
(14,285
)
 
(27,184
)
Net income (loss)
$
(5,649
)
 
$
561

 
$
(5,088
)
Ownership interest %
50
%
 
Various

 
Various

Company's share of net income (loss)
$
(2,825
)
 
$
5

 
$
(2,820
)
Basis adjustments and other
(41
)
 
12

 
(29
)
Equity in income (loss) of Real Estate Ventures
$
(2,866
)
 
$
17

 
$
(2,849
)