Related Party Transactions |
12 Months Ended |
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Dec. 31, 2015 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
18. RELATED PARTY TRANSACTIONS
William L. Mack, Chairman of the Board of Directors of the Company, David S. Mack, a director of the Company, and Earle I. Mack, a former director of the Company, are the executive officers, directors and stockholders of a corporation that leases approximately 7,034 square feet at one of the Company’s office properties, which is scheduled to expire in May 2018, subject to two, three-year renewal options. The Company has recognized $204,000, $231,000 and $226,000 in revenue under this lease for the years ended December 31, 2015, 2014 and 2013, respectively, and had no accounts receivable from the corporation as of December 31, 2015 and 2014.
Certain executive officers of the Company’s Roseland subsidiary and/or their family members (“RG”) directly or indirectly hold small noncontrolling interests in a certain consolidated joint venture. Additionally, the Company earned $2,542,000, $2,401,000 and $2,272,000 from entities in which RG has ownership interests for the years ended December 31, 2015, 2014 and 2013, respectively.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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