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Subsequent Events
6 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

14. SUBSEQUENT EVENTS

Garza Land Acquisition & Disposition

On July 1, 2016, the Company closed on the acquisition of 34.6 acres of land located in Austin, Texas known as the Garza Ranch for a gross purchase price of $20.6 million. The Company is currently under agreement to sell 9.5 acres (of the 34.6 acres) to two unaffiliated third parties.

 

1000 Chesterbrook Real Estate Venture

On July 14, 2016, the Company received a $5.1 million liquidating distribution from the 1000 Chesterbrook real estate venture. The cash distribution consists of proceeds from the sale of an office property on June 30, 2016 and was equal to the Company’s investment basis in 1000 Chesterbrook as of June 30, 2016.