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Investment in Unconsolidated and Consolidated Joint Ventures (Tables)
9 Months Ended
Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Condensed statements of operations and balance sheet information of consolidated and unconsolidated joint ventures
Unaudited condensed balance sheet information of the Company’s unconsolidated and consolidated joint ventures as of September 30, 2014 and December 31, 2013 and unaudited condensed statements of operations for the nine months ended September 30, 2014 and September 30, 2013 are as follows:
Statement of Operations for the nine months ended September 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
 
$
85,694

 
$
2,505

 
$
49

 
$
2,795

 
$

 
$
91,043

 
$
591

Net income (loss)
 
$
5,087

 
$
108

 
$
27

 
$
419

 
$
(70
)
 
$
5,571

 
$
(230
)
Partner’s share of net income (loss)
 
$
2,035

 
$
54

 
$
14

 
$
210

 
$
(35
)
 
$
2,278

 
$
(89
)
Equity in earnings (losses)
 
$
3,052

 
$
54

 
$
13

 
$
209

 
$
(35
)
 
$
3,293

 
$

*The Company purchased DMB TMV LLC's membership interest in the TMV joint venture on July 15, 2014. TMV equity in losses shown above are through
July 15, 2014.
Balance Sheet Information as of September 30, 2014
 
UNCONSOLIDATED
 
CONSOLIDATED
($ in thousands)
Petro Travel
Plaza
Holdings
 
Five West Parcel
 
18-19 West LLC
 
TRCC/Rock Outlet Center
 
Total
 
Centennial-VIE
 
Current assets
$
18,960

 
$
2,664

 
$
16

 
$
5,875

 
$
27,515

 
$
7

 
Property and equipment, net
45,201

 
15,397

 
4,609

 
63,411

 
128,618

 
76,780

 
Other assets
180

 
92

 

 
14,317

 
14,589

 

 
Long-term debt
(16,022
)
 
(11,000
)
 

 
(39,492
)
 
(66,514
)
 

 
Other liabilities
(3,380
)
 
(157
)
 
(19
)
 
(6,046
)
 
(9,602
)
 
(316
)
 
Net assets
$
44,939

 
$
6,996

 
$
4,606

 
$
38,065

 
$
94,606

 
$
76,471

 
Statement of Operations for the nine months ended September 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
 
$
86,662

 
$
2,518

 
$
47

 
$

 
$

 
$
89,227

 
$
628

Net income (loss)
 
$
4,515

 
$
102

 
$
42

 
$
(289
)
 
$
(104
)
 
$
4,266

 
$
(196
)
Partner’s share of net income (loss)
 
$
1,806

 
$
51

 
$
21

 
$
(145
)
 
$
(52
)
 
$
1,681

 
$
(55
)
Equity in earnings (losses)
 
$
2,709

 
$
51

 
$
21

 
$
191

 
$
(52
)
 
$
2,920

 
$

*The Company purchased DMB TMV LLC's membership interest in the TMV joint venture on July 15, 2014.
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

 
$

 
$
18,137

 
$
86

Property and equipment, net
43,897

 
16,980

 
4,514

 
24,633

 
99,690

 
189,714

 
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

*The Company purchased DMB TMV LLC's membership interest in the TMV joint venture on July 15, 2014.