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Revenue Recognition (Tables) - Adoption of Topic 606 [Member]
12 Months Ended
Dec. 31, 2020
Schedule of Fee and Other Income

For the real estate industry, leasing transactions fall under Topic 842 (Note 1), which has been adopted at January 1, 2019.  Therefore, Fee and Other Income on the consolidated statements of operations was the revenue stream impacted by ASC 606 and includes revenue from contracts with customers and other property-related income, primarily composed of theater income, and is recognized in the period earned.  Fee and Other Income is as follows (in thousands):

 

For the Year Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

Revenue from contracts:

 

 

 

 

 

 

 

 

 

 

 

Asset and property management fees

$

31,255

 

 

$

42,355

 

 

$

31,751

 

Leasing commissions

 

5,528

 

 

 

6,300

 

 

 

6,380

 

Development fees

 

1,428

 

 

 

2,019

 

 

 

1,638

 

Disposition fees

 

3,142

 

 

 

3,454

 

 

 

2,959

 

Credit facility guaranty and refinancing fees

 

60

 

 

 

1,860

 

 

 

60

 

Total revenue from contracts with customers

 

41,413

 

 

 

55,988

 

 

 

42,788

 

Other property income:

 

 

 

 

 

 

 

 

 

 

 

Other

 

4,056

 

 

 

7,694

 

 

 

6,989

 

Total fee and other income

$

45,469

 

 

$

63,682

 

 

$

49,777

 

Schedule of Significant Changes in Leasing Commission Balances

Contract assets are included in Other Assets, net on the consolidated balance sheets.  The significant changes in the leasing commission balances during the year ended December 31, 2020, are as follows (in thousands):

Balance as of January 1, 2020

$

1,101

 

   Contract assets recognized

 

1,122

 

   Contract assets billed

 

(1,710

)

Balance as of December 31, 2020

$

513