The Company and Financial Statement Presentation (Tables)

9 Months Ended

Sep. 30, 2017

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the unaudited condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016:



	September 30, 2017		December 31, 2016
Real estate, net	$	790,185	$	778,265
Total assets	$	898,620	$	899,801
Mortgages and notes payable, net	$	360,426	$	364,099
Total liabilities	$	371,000	$	395,332

Schedule of Error Corrections and Prior Period Adjustments

The following table shows the affected line items within the Company's unaudited condensed consolidated financial statements:



Three Months ended September 30, 2016
	As Originally Reported			Correction			As Adjusted
Total gross revenues	$	106,331		$	(350	)	$	105,981
Net loss	$	(27,262	)	$	(350	)	$	(27,612	)
Net loss attributable to common shareholders	$	(26,653	)	$	(322	)	$	(26,975	)
Net loss attributable to common shareholders - basic per share	$	(0.11	)	$	(0.01	)	$	(0.12	)
Net loss attributable to common shareholders - diluted per share	$	(0.11	)	$	(0.01	)	$	(0.12	)



Nine Months ended September 30, 2016
	As Originally Reported		Correction		As Adjusted
Total gross revenues	$	327,524	$	6,646	$	334,170
Net income	$	72,875	$	6,646	$	79,521
Net income attributable to common shareholders	$	68,310	$	6,408	$	74,718
Net income attributable to common shareholders - basic per share	$	0.29	$	0.03	$	0.32
Net income attributable to common shareholders - diluted per share	$	0.28	$	0.03	$	0.31

LCIF [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of Error Corrections and Prior Period Adjustments

The following table shows the affected line items within the Partnership's unaudited condensed consolidated financial statements:



For the three months ended September 30, 2016
	As Originally Reported			Correction			As Adjusted
Total gross revenues	$	30,908		$	(350	)	$	30,558
Net loss	$	(60,901	)	$	(678	)	$	(61,579	)
Net loss per unit	$	(0.73	)	$	(0.01	)	$	(0.74	)



For the nine months ended September 30, 2016
	As Originally Reported			Correction		As Adjusted
Total gross revenues	$	98,784		$	6,646	$	105,430
Net income (loss)	$	(26,652	)	$	5,854	$	(20,798	)
Net income (loss) per unit	$	(0.32	)	$	0.07	$	(0.25	)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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