Concentration of Risk

12 Months Ended

Dec. 31, 2016

The Company seeks to reduce its operating and leasing risks through the geographic diversification of its properties, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the years ended December 31, 2016, 2015 and 2014, no single tenant represented greater than 10% of rental revenues.

Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

LCIF [Member]

Concentration Risk [Line Items]

Concentration of Risk

The Partnership seeks to reduce its operating and leasing risks through the geographic diversification of its properties, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the years ended December 31, 2016, 2015, and 2014, the following tenants represented greater than 10% of rental revenues:



	2016		2015		2014
SM Ascott LLC⁽¹⁾	11.2	%	14.7	%	15.9	%
Tribeca Ascott LLC⁽¹⁾	—	%	12.6	%	13.6	%
AL-Stone Ground Tenant LLC⁽¹⁾	—	%	11.5	%	12.4	%
Preferred Freezer Services of Richland, LLC	11.4	%	—	%	—	%


(1)	The Partnership net leased individual land parcels to the tenants listed above under non-cancellable 99-year (original term) leases. The improvements on these parcels are owned by the tenants and consist of three high-rise hotels located in New York, NY. The Partnership sold these assets in September 2016.

Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Partnership believes it mitigates this risk by investing in or through major financial institutions.