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UNCONSOLIDATED AFFILIATES (Tables)
12 Months Ended
Dec. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]  
Schedule of Condensed Combined Financial Statement Information - Unconsolidated Affiliates

Condensed combined financial statement information of the unconsolidated affiliates is as follows:

 

 

 

December 31, 2020

 

 

December 31, 2019

 

ASSETS:

 

 

 

 

 

 

 

 

Investment in real estate assets

 

$

2,346,124

 

 

$

2,293,438

 

Accumulated depreciation

 

 

(862,435

)

 

 

(803,909

)

 

 

 

1,483,689

 

 

 

1,489,529

 

Developments in progress

 

 

28,138

 

 

 

46,503

 

Net investment in real estate assets

 

 

1,511,827

 

 

 

1,536,032

 

Other assets

 

 

174,966

 

 

 

154,427

 

Total assets

 

$

1,686,793

 

 

$

1,690,459

 

LIABILITIES:

 

 

 

 

 

 

 

 

Mortgage and other indebtedness, net

 

$

1,439,454

 

 

$

1,417,644

 

Other liabilities

 

 

45,280

 

 

 

41,007

 

Total liabilities

 

 

1,484,734

 

 

 

1,458,651

 

OWNERS' EQUITY:

 

 

 

 

 

 

 

 

The Company

 

 

132,350

 

 

 

149,376

 

Other investors

 

 

69,709

 

 

 

82,432

 

Total owners' equity

 

 

202,059

 

 

 

231,808

 

Total liabilities and owners’ equity

 

$

1,686,793

 

 

$

1,690,459

 

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Total revenues

 

$

213,319

 

 

$

221,512

 

 

$

225,073

 

Net income (loss) (1)

 

$

(12,659

)

 

$

96,628

 

 

$

(63,315

)

 

 

 

(1)

The Company’s pro rata share of net income (loss) is ($14,854), $4,940 and 14,677 for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in equity in earnings (losses) of unconsolidated affiliates in the accompanying consolidated statements of operations.