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Investment in Unconsolidated Real Estate Ventures (Tables)
 9 Months Ended
Sep. 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 September 30, 2020 and December 31, 2019 (in thousands):
 
September 30, 2020
 
December 31, 2019
Net property
$
1,363,889

 
$
834,367

Other assets
442,834

 
342,002

Other liabilities
323,442

 
290,071

Debt, net
833,716

 
585,068

Equity (a)
649,565

 
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 nine-month periods ended September 30, 2020 and 2019 (in thousands):

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2020
 
2019
 
2020
 
2019
Revenue
$
43,109

 
$
32,726

 
$
105,554

 
$
101,148

Operating expenses
(23,870
)
 
(17,869
)
 
(59,838
)
 
(53,956
)
Interest expense, net
(6,175
)
 
(6,180
)
 
(16,320
)
 
(16,421
)
Depreciation and amortization
(22,345
)
 
(13,094
)
 
(47,493
)
 
(40,279
)
Gain on early extinguishment of debt
—

 
4,371

 
—

 
4,371

Net loss
$
(9,281
)
 
$
(46
)
 
$
(18,097
)
 
$
(5,137
)
Ownership interest %
Various

 
Various

 
Various

 
Various

Company's share of net income (loss)
$
(5,812
)
 
$
(1,945
)
 
$
(9,892
)
 
$
(4,765
)
Basis adjustments and other
24

 
(20
)
 
10

 
(49
)
Equity in loss of Real Estate Ventures
$
(5,788
)
 
$
(1,965
)
 
$
(9,882
)
 
$
(4,814
)