Notes Receivable From Real Estate Joint Ventures And Partnerships

9 Months Ended

Sep. 30, 2014

Receivables [Abstract]

Notes Receivable From Real Estate Joint Ventures And Partnerships

Notes Receivable from Real Estate Joint Ventures and Partnerships

We have ownership interests in a number of real estate joint ventures and partnerships. At September 30, 2014, we had no outstanding notes receivable from real estate joint ventures and partnerships. At December 31, 2013, various notes receivable from these entities bore interest ranging from approximately 2.9% to 5.7% per year and mature at various dates through 2017. Generally, these notes receivable were secured by underlying real estate assets.

The outstanding notes were fully paid during 2014, and no write-offs occurred. Interest income recognized on these notes was $.02 million and $.5 million for the three months ended September 30, 2014 and 2013, respectively, and $.1 million and $1.8 million for the nine months ended September 30, 2014 and 2013, respectively.

In December 2013, we acquired our partner’s 50% unconsolidated joint venture interest in a California property, which included the settlement of $54.8 million of our notes receivable from real estate joint ventures and partnerships.