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Investment in Direct Financing Lease
9 Months Ended
Sep. 30, 2015
Capital Leases, Net Investment in Direct Financing Leases [Abstract]  
Investment in Direct Financing Lease
Investment in Direct Financing Lease

We have an investment in a direct financing lease that relates to a lease with a term that exceeds 75% of the useful life of an office tower located within a mixed use property in Phoenix, AZ.  We recognize income using the effective interest method to produce a level yield on funds not yet recovered.  The carrying amount of our net investment of $6.7 million and $12.5 million as of September 30, 2015 and December 31, 2014, respectively, is included in other assets in our condensed consolidated balance sheets. 

We monitor the payment history and credit profile of the tenant and have determined that no allowance for losses related to our direct financing lease was necessary at September 30, 2015 and December 31, 2014.  Our direct financing lease has an expiration date in 2045.