Investments in Affiliates

9 Months Ended

Sep. 30, 2016

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

The investments in affiliates balance on the condensed consolidated balance sheets 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)	September 30, 2016		December 31, 2015		September 30, 2015
Equity method investments in real estate affiliates	$	24,638	$	24,103	$	24,093
Equity method investment in other affiliate	9,718		9,079		8,984
Total investments in affiliates	$	34,356	$	33,182	$	33,077

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



(in thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Total assets	$	167,859	$	175,477	$	179,949
Net assets	95,128		104,370		106,239
Granite’s share of net assets	34,356		33,182		33,077

The equity method investments in real estate affiliates included $19.7 million, $18.5 million and $18.4 million in residential real estate in Texas as of September 30, 2016, December 31, 2015 and September 30, 2015, respectively. The remaining balances were in commercial real estate in Texas. Of the $167.9 million in total assets as of September 30, 2016, real estate entities had total assets ranging from $0.3 million to $59.4 million and the non-real estate entity had total assets of $22.4 million.