Investments In Unconsolidated Joint Ventures (PruRose Port Imperial South 13, LLC) (Narrative) (Details) (USD $)
|
2 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
PruRose Port Imperial South 13, L.L.C. [Member]
|
Oct. 23, 2012
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
PruRose Port Imperial South 13, L.L.C. [Member]
PR II Port Imperial South 13 Investor, L.L.C. [Member]
|
Dec. 31, 2013
PruRose Port Imperial South 13, L.L.C. [Member]
Parent Company [Member]
|
Dec. 31, 2013
Port Imperial 13 [Member]
|
Oct. 23, 2012
Port Imperial 13 [Member]
item
|
Dec. 31, 2013
Port Imperial 13 [Member]
PR II Port Imperial South 13 Investor, L.L.C. [Member]
|
Dec. 31, 2013
Construction Loan [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Construction Loan [Member]
Port Imperial 13 [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Construction Loan Extension Number 1 [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Construction Loan Extension Number 2 [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Land [Member]
|
Dec. 31, 2013
Land [Member]
PR II Port Imperial South 13 Investor, L.L.C. [Member]
|
Dec. 31, 2013
Land [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
Parent Company [Member]
|
Dec. 31, 2013
1.25 [Member]
Construction Loan [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
1.40 [Member]
Construction Loan [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Minimum [Member]
|
Dec. 31, 2013
Minimum [Member]
Construction Loan [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
Dec. 31, 2013
Maximum [Member]
|
Jan. 01, 2016
Scenario, Forecast [Member]
Construction Loan [Member]
PruRose Port Imperial South 13, L.L.C. [Member]
|
|
Schedule of Equity Method Investments [Line Items] | |||||||||||||||||||||
Percentage of interest in venture | 20.00% | 7.50% | 80.00% | ||||||||||||||||||
Number of units | 280 | ||||||||||||||||||||
Total project costs | $ 96,400,000 | $ 23,100,000 | |||||||||||||||||||
Contributed capital | 21,000,000 | 19,200,000 | 1,800,000 | ||||||||||||||||||
Maximum borrowing capacity | 73,400,000 | 73,400,000 | |||||||||||||||||||
Amount outstanding | 6,400,000 | ||||||||||||||||||||
Percentage of operating return on capital | 9.00% | ||||||||||||||||||||
Capital balance | 42,200,000 | 1,800,000 | |||||||||||||||||||
Accumulated unpaid operating return | 3,700,000 | 100,000 | |||||||||||||||||||
Percent of distributions paid to third party after threshold reached | 20.00% | ||||||||||||||||||||
Threshold of internal rate of return for distributions to third party | 8.00% | ||||||||||||||||||||
Spread over LIBOR | 2.15% | ||||||||||||||||||||
Loan maturity date | Jun. 01, 2016 | ||||||||||||||||||||
Loan extension period | 1 year | 6 months | |||||||||||||||||||
Extension fee | 0.25% | 0.25% | |||||||||||||||||||
Amount of debt guaranteed by company | 11,000,000 | ||||||||||||||||||||
Amount of debt guaranteed by the company after debt service coverage ratio threshold reached | 7,400,000 | 0 | |||||||||||||||||||
Threshold of payment guarantee reduction, debt service coverage ratio | 1.25 | ||||||||||||||||||||
Threshold of payment guarantee termination, debt service coverage ratio | 1.40 | ||||||||||||||||||||
Initial notional amount | 1,620,000 | ||||||||||||||||||||
Interest rate | 2.79% | ||||||||||||||||||||
Development management and other services fees | $ 203,000 | $ 739,000 | |||||||||||||||||||
Holding and distribution pattern under operating agreement | In general, the operating agreement of PruRose 13 provides that operating cash flows are distributed to members first to Prudential 13 and then to the Company based on a nine percent operating return on each members' capital balance in priorities as detailed in the operating agreement. Excess operating cash flows are distributed to the members in accordance with their ownership percentages. |