Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details)

v3.10.0.1
INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Assets:    
Cash $ 7,817 $ 8,942
Real estate 56,808 55,552
Other assets 3,835 4,323
Total assets 68,460 68,817
Liabilities and equity:    
Accounts payable and other liabilities 6,514 7,516
Notes and mortgages payable 26,798 25,194
Equity of:    
Meritage [1] 14,690 14,521
Other 20,458 21,586
Total liabilities and equity $ 68,460 $ 68,817
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reported in our consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses.