Investments in Unconsolidated Real Estate Joint Ventures

3 Months Ended

Mar. 31, 2016

Equity Method Investments And Joint Ventures [Abstract]

Investments in Unconsolidated Real Estate Joint Ventures

3.  Investments in Unconsolidated Real Estate Joint Ventures

BBX Capital had the following investments in unconsolidated real estate joint ventures (in thousands):

		March 31,	December 31,
Investment in unconsolidated real estate joint ventures		2016	2015
Altis at Kendall Square, LLC	$	722	764
Altis at Lakeline - Austin Investors LLC		5,266	5,210
New Urban/BBX Development, LLC		1,015	864
Sunrise and Bayview Partners, LLC		1,561	1,577
Hialeah Communities, LLC		4,376	4,569
PGA Design Center Holdings, LLC		1,895	1,911
CCB Miramar, LLC		875	875
Centra Falls, LLC		717	727
The Addison on Millenia Investment, LLC		5,778	5,778
BBX/S Millenia Blvd Investments, LLC		4,905	4,905
Altis at Bonterra - Hialeah, LLC		15,812	15,782
Investments in unconsolidated real estate joint ventures	$	42,922	42,962

BBX Capital’s investments in unconsolidated real estate joint ventures are variable interest entities.

The amount of interest capitalized in investments in unconsolidated real estate joint ventures associated with joint venture real estate development activities for the three months ended March  31, 2016 and 2015 was $121,000 and $96,000, respectively.

The condensed Statements of Operations for the three months ended March  31, 2016 and 2015 for all the above listed equity method joint ventures in the aggregate was as follows (in thousands):

		For the Three Months Ended
		March 31,
		2016	2015
Total revenues	$	1,191	379
Total costs and expenses		(1,856)	(1,071)
Net loss	$	(665)	(692)
Equity in net losses of unconsolidated real estate joint ventures	$	(342)	(304)

See Note 6 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 for information on investments in BBX Capital’s other unconsolidated real estate joint ventures.