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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Segment Reporting
SEGMENT REPORTING

The Company has three reportable segments: Core Portfolio, Funds and Structured Financing. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates property performance primarily based on net operating income before depreciation, amortization and certain nonrecurring items. Investments in the Core Portfolio are typically held long-term. Given the contemplated finite life of the Funds, these investments are typically held for shorter terms. Fees earned by the Company as the general partner/managing member of the Funds are eliminated in the Company's consolidated financial statements. Structured Financing represents the Company's investments in notes receivable and preferred equity. The following tables set forth certain segment information for the Company, as of and for the three months ended March 31, 2015 and 2014, and does not include unconsolidated affiliates:

11.    SEGMENT REPORTING (continued)

Three Months Ended March 31, 2015

(dollars in thousands)
 
Core Portfolio
 
Funds
 
Structured Financing
 
Total
Revenues
 
$
35,593

 
$
13,480

 
$
3,408

 
$
52,481

Property operating expenses, other operating and real estate taxes
 
(9,691
)
 
(6,452
)
 
—

 
(16,143
)
General and administrative expenses
 
(6,811
)
 
(721
)
 
—

 
(7,532
)
Depreciation and amortization
 
(9,907
)
 
(3,751
)
 
—

 
(13,658
)
Operating income
 
9,184

 
2,556

 
3,408

 
15,148

Equity in earnings of unconsolidated affiliates
 
434

 
6,159

 
—

 
6,593

Loss on debt extinguishment
 
—

 
(109
)
 
—

 
(109
)
Gain on disposition of property
 
—

 
27,143

 
—

 
27,143

Interest and other finance expense
 
(6,468
)
 
(2,353
)
 
—

 
(8,821
)
Income tax provision
 
(480
)
 
(937
)
 
—

 
(1,417
)
Net income
 
2,670

 
32,459

 
3,408

 
38,537

Noncontrolling interests
 
 
 
 
 
 
 
 
Net income attributable to noncontrolling interests
 
(179
)
 
(21,811
)
 
—

 
(21,990
)
Net income attributable to Common Shareholders
 
$
2,491

 
$
10,648

 
$
3,408

 
$
16,547

 
 
 
 
 
 
 
 
 
Real Estate at Cost
 
$
1,550,695

 
$
953,607

 
$
—

 
$
2,504,302

Total Assets
 
$
1,666,987

 
$
1,105,319

 
$
98,560

 
$
2,870,866

Acquisition of Real Estate
 
$
169,235

 
$
51,036

 
$
—

 
$
220,271

Investment in Redevelopment and Improvements
 
$
6,353

 
$
34,141

 
$
—

 
$
40,494


11.    SEGMENT REPORTING (continued)

Three Months Ended March 31, 2014
(dollars in thousands)
 
Core Portfolio
 
Funds
 
Structured Financing
 
Total
Revenues
 
$
30,149

 
$
12,642

 
$
3,894

 
$
46,685

Property operating expenses, other operating and real estate taxes
 
(7,906
)
 
(5,575
)
 
—

 
(13,481
)
General and administrative expenses
 
(6,413
)
 
(483
)
 
—

 
(6,896
)
Depreciation and amortization
 
(8,333
)
 
(3,254
)
 
—

 
(11,587
)
Operating income
 
7,497

 
3,330

 
3,894

 
14,721

Equity in earnings of unconsolidated affiliates
 
95

 
2,934

 
—

 
3,029

Gain on disposition of property
 
12,387

 
—

 
—

 
12,387

Loss on debt extinguishment
 
—

 
(203
)
 
—

 
(203
)
Interest and other finance expense
 
(7,200
)
 
(3,451
)
 
—

 
(10,651
)
Income tax provision
 
(104
)
 
(64
)
 
—

 
(168
)
Net Income
 
12,675

 
2,546

 
3,894

 
19,115

Noncontrolling interests
 
 
 
 
 
 
 


Net (income) loss attributable to noncontrolling interests
 
(419
)
 
2,899

 
—

 
2,480

Net income attributable to Common Shareholders
 
$
12,256

 
$
5,445

 
$
3,894

 
$
21,595

 
 
 
 
 
 
 
 


Real Estate at Cost
 
$
1,128,790

 
$
794,120

 
$
—

 
$
1,922,910

Total Assets
 
$
1,101,385

 
$
1,124,838

 
$
119,639

 
$
2,345,862

Acquisition of Real Estate
 
$
90,500

 
$
—

 
$
—

 
$
90,500

Investment in Redevelopment and Improvements
 
$
1,428

 
$
36,077

 
$
—

 
$
37,505