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Investment in Unconsolidated and Consolidated Joint Ventures (Tables)
6 Months Ended
Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Condensed statements of operations and balance sheet information of consolidated and unconsolidated joint ventures
ondensed balance sheet information of the Company’s unconsolidated and consolidated joint ventures as of June 30, 2014 and December 31, 2013 and unaudited condensed statements of operations for the six months ended June 30, 2014 and June 30, 2013 are as follows:
Statement of Operations for the six months ended June 30, 2014
 
 
UNCONSOLIDATED
 
CONSOLIDATED
($ in thousands)
 
Petro Travel
Plaza
Holdings
 
Five West Parcel
 
18-19 West
LLC
 
TRCC/Rock Outlet Center
 
Tejon Mountain Village
 
Total
 
Centennial-VIE
Revenues
 
$
54,658

 
$
1,710

 
$
31

 
$
480

 
$

 
$
56,879

 
$
407

Net income (loss)
 
$
2,555

 
$
136

 
$
19

 
$
20

 
$
(70
)
 
$
2,660

 
$
(32
)
Partner’s share of net income (loss)
 
$
1,021

 
$
68

 
$
10

 
$
10

 
$
(35
)
 
$
1,074

 
$
(8
)
Equity in earnings (losses)
 
$
1,534

 
$
68

 
$
9

 
$
10

 
$
(35
)
 
$
1,586

 
$

Balance Sheet Information as of June 30, 2014
 
UNCONSOLIDATED
 
CONSOLIDATED
($ in thousands)
Petro Travel
Plaza
Holdings
 
Five West Parcel
 
18-19 West LLC
 
TRCC/Rock Outlet Center
 
Tejon Mountain Village
 
Total
 
Centennial-VIE
Current assets
$
16,788

 
$
1,866

 
$
25

 
$
1,860

 
$
365

 
$
20,904

 
$
256

Property and equipment, net
44,686

 
15,924

 
4,573

 
53,040

 
101,393

 
219,616

 
76,355

Other assets
189

 
257

 

 
8,129

 

 
8,575

 

Long-term debt
(16,213
)
 
(11,000
)
 

 
(18,460
)
 

 
(45,673
)
 

Other liabilities
(3,043
)
 
(22
)
 

 
(6,903
)
 
(280
)
 
(10,248
)
 
(293
)
Net assets
$
42,407

 
$
7,025

 
$
4,598

 
$
37,666

 
$
101,478

 
$
193,174

 
$
76,318

Statement of Operations for the six months ended June 30, 2013
 
 
UNCONSOLIDATED
 
CONSOLIDATED
($ in thousands)
 
Petro Travel
Plaza
Holdings
 
Five
West
Parcel
 
18-19
West
 
TRCC/Rock Outlet Center
 
Tejon Mountain Village
 
Total
 
Centennial
Revenues
 
$
55,364

 
$
1,673

 
$
31

 
$

 
$

 
$
57,068

 
$
314

Net income (loss)
 
$
2,394

 
$
47

 
$
25

 
$
(176
)
 
$
(83
)
 
$
2,207

 
$
(232
)
Partner’s share of net income (loss)
 
$
958

 
$
23

 
$
12

 
$
(88
)
 
$
(42
)
 
$
863

 
$
(66
)
Equity in earnings (losses)
 
$
1,436

 
$
24

 
$
13

 
$
247

 
$
(41
)
 
$
1,679

 
$

Balance Sheet Information as of December 31, 2013
 
UNCONSOLIDATED
 
CONSOLIDATED
($ in thousands)
Petro Travel
Plaza
Holdings
 
Five West Parcel
 
18-19 West
LLC
 
TRCC/Rock Outlet Center
 
Tejon Mountain Village
 
Total
 
Centennial-VIE
Current assets
$
14,886

 
$
813

 
$
10

 
$
2,428

 
$
99,690

 
$
117,827

 
$
86

Property and equipment, net
43,897

 
16,980

 
4,514

 
24,633

 

 
90,024

 
74,968

Other assets
208

 
438

 

 
2,161

 

 
2,807

 

Long-term debt
(16,602
)
 
(11,000
)
 

 

 

 
(27,602
)
 

Other liabilities
(2,687
)
 
(343
)
 

 
(8,577
)
 
(168
)
 
(11,775
)
 
(204
)
Net assets
$
39,702

 
$
6,888

 
$
4,524

 
$
20,645

 
$
99,522

 
$
171,281

 
$
74,850