Investments in Real Estate Entities (Tables)

9 Months Ended

Sep. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Combined summary of the financial position of the entities accounted for using the equity method

The following is a combined summary of the financial position of the entities accounted for using the equity method discussed above as of the dates presented (dollars in thousands):

	9/30/2017		12/31/2016
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	699,440	$	954,493
Other assets	46,168		49,519
Total assets	$	745,608	$	1,004,012
Liabilities and partners' capital:
Mortgage notes payable, net and credit facility	$	525,170	$	689,573
Other liabilities	13,446		16,537
Partners' capital	206,992		297,902
Total liabilities and partners' capital	$	745,608	$	1,004,012

Combined summary of the operating results of the entities accounted for using the equity method

The following is a combined summary of the operating results of the entities accounted for using the equity method discussed above for the periods presented (dollars in thousands):

	For the three months ended						For the nine months ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016
	(unaudited)						(unaudited)
Rental and other income	$	24,568		$	30,771		$	79,999		$	101,534
Operating and other expenses	(9,378		)	(12,069		)	(30,386		)	(39,206		)
Gain on sale of communities	107,067			—			136,514			180,256
Interest expense, net (1)	(7,867		)	(7,919		)	(21,415		)	(37,857		)
Depreciation expense	(5,938		)	(8,081		)	(20,059		)	(26,027		)
Net income	$	108,452		$	2,702		$	144,653		$	178,700

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(1) Amounts for the three and nine months ended September 30, 2017 include charges for prepayment penalties and write-offs of deferred financing costs of $1,601 and $1,591, respectively. Amount for the nine months ended September 30, 2016 includes charges for prepayment penalties and write-offs of deferred financing costs of