Examples of FC Holdings in a sentence
Effective December 20, 2012, FC Mezzanine accounts for its interest in FC Holdings under the equity method of accounting.
On December 20, 2012 (the “Deconsolidation Date”), FC Mezzanine sold a 49.00% interest in FC Holdings to 8 Spruce Street GA Investor LLC (the “GA Investor”), a Delaware limited liability company for cash consideration of $250,390,000 and recognized a net gain on disposition of partial interest in FC Holdings of $123,790,358, under accounting guidance related to real estate sales, in the accompanying Consolidated Statements of Operations.
Concurrent with the Transaction, FC Mezzanine contributed its 100% membership interest in FC Residential to FC Holdings and was its sole member.
On the Deconsolidation Date in accordance with the voting model, FC Mezzanine commenced accounting for its investments in FC Holdings in accordance with the equity method of accounting (the “Deconsolidation”).
Deconsolidation of FC HoldingsThe following table represents the consolidated balance sheet of FC Holdings immediately prior to the Deconsolidation Date followed by the significant accounting policies of certain balance sheet accounts of FC Holdings and the Company’s accounting for derivative instruments: Real EstateThe Company's capitalization policy follows the accounting guidance on capitalization of interest cost and accounting for costs and initial rental operations of real estate properties.
FCR has sent FC Holdings, L.L.C. a notice in writing to the effect that FCR and Fund Creation REIT Advisers Co., Ltd.
At December 31, 2013 and January 31, 2013, FC Mezzanine’s investment basis of $119,185,095 and $129,047,560, respectively, represents its 51% interest in FC Holdings.
At December 31, 2014 and 2013, FC Mezzanine’s investment basis of $90,872,142 and $119,185,095, respectively, represents its 51% interest in FC Holdings.
FCR shall send FC Holdings, L.L.C. a notice in writing no later than the day immediately prior to the Effective Date to the effect that FCR and Fund Creation REIT Advisers Co., Ltd.
Deconsolidation of FC HoldingsThe following table represents the consolidated balance sheet of FC Holdings immediately prior to the Deconsolidation Date followed by the significant accounting policies of certain balance sheet accounts of FC Holdings and the Company’s accounting for derivative instruments: FC 8 Spruce Mezzanine, LLC and SubsidiariesNotes to Consolidated Financial Statements B.