Investments In Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures

The following table summarizes the combined balance sheet and statement of income data for the Funds as of and for the periods presented:

 

(in millions)	2019		2018
Total assets	$	685.0	$	695.2
Total third-party debt	496.9		510.7
Total equity	153.4		158.4

	2019		2018		2017
Total revenues	$	131.7	$	127.4	$	121.9
Gain on sale of operating property (1)	19.8		—		—
Net income (2)	37.5		16.4		13.5
Equity in income (3) (4)	14.8		7.8		6.8

 

(1) In December 2019, one of the funds sold one operating property comprised of 270 apartment homes for approximately $38.5 million.

(2) Net income for the year ended December 31, 2017 includes approximately $1.3 million of property expense relating to Hurricanes Harvey and Irma in the third quarter of 2017.

(3) Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.

(4)

Equity in income for the year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million. Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million.