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Related Party Transactions
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12 Months Ended |
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Dec. 31, 2014
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| 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 on a month-to-month basis at one of the Company’s office properties. The Company has recognized $231,000, $226,000 and $238,000 in revenue under this lease for the years ended December 31, 2014, 2013 and 2012, respectively, and had no accounts receivable from the corporation as of December 31, 2014 and 2013.
Certain executive officers of the Company’s Roseland subsidiary and/or their family members (“RG”) directly or indirectly hold small non controlling interests in a certain consolidated joint venture. Additionally, the Company earned $2,401,000, $2,272,000 and $728,000 from entities in which RG has ownership interests for the years ended December 31, 2014, 2013 and 2012, respectively.
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- Details
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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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