Investments in Affiliates

6 Months Ended

Jun. 30, 2016

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

The investments in affiliates balance on the condensed consolidated balance sheet is related to our investments in unconsolidated non-construction entities that we account for using the equity method of accounting, including investments in real estate entities and a non-real estate entity.

The investments in affiliates balance consists of the following:



(in thousands)	June 30, 2016		December 31, 2015		June 30, 2015
Equity method investments in real estate affiliates	$	25,018	$	24,103	$	23,102
Equity method investment in other affiliate	9,499		9,079		9,553
Total investments in affiliates	$	34,517	$	33,182	$	32,655

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:



(in thousands)	June 30, 2016		December 31, 2015		June 30, 2015
Total assets	$	176,275	$	175,477	$	175,503
Net assets	102,650		104,370		103,539
Granite’s share of net assets	34,517		33,182		32,655

The equity method investments in real estate affiliates included $19.4 million, $18.5 million and $17.5 million in residential real estate in Texas as of June 30, 2016, December 31, 2015 and June 30, 2015, respectively. The remaining balances were in commercial real estate in Texas. Of the $176.3 million in total assets as of June 30, 2016, real estate entities had total assets ranging from $1.7 million to $65.9 million and the non-real estate entity had total assets of $20.7 million.