Note 10 - Mortgages Payable

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Mortgage Notes Payable Disclosure [Text Block]

10.

Mortgages

Payable

During the

three

months ended

March 31, 2018,

the Company (i) deconsolidated

$206.0

million of individual non-recourse mortgage debt relating to an operating property for which the Company

no

longer has a controlling interest in and (ii) repaid

$161.9

million of maturing mortgage debt (including fair market value adjustments of

$0.4

million) that encumbered

two

operating properties.

Additionally, during the

three

months ended

March 31, 2018,

the Company disposed of an encumbered property through foreclosure. The transaction resulted in a net decrease in mortgage debt of

$12.4

. In addition, the Company recognized a gain on forgiveness of debt of

$4.3

million and relief of accrued interest of

$3.4

million, both of which are included in Other income, net in the Company’s Condensed Consolidated Statements of Income.