Investments in Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2020

Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Joint Ventures

6. Investments in Unconsolidated Joint Ventures

As of March 31, 2020 and December 31, 2019, our investments in unconsolidated joint ventures accounted for under the equity method of accounting presented in our condensed consolidated balance sheets consist of the following (in thousands):


	Year Joint	# of	Metropolitan			Balance as of		Balance as of
Joint Venture	Venture Formed	Data Centers	Area	% Ownership		March 31, 2020		December 31, 2019

Ascenty ⁽¹⁾	2019	19	Brazil / Chile	51	% ⁽²⁾	$	524,822	$	774,853
Mapletree	2019	3	Northern Virginia	20	%		195,025		208,354
MCDR	2017	4	Osaka / Tokyo	50	%		235,426		200,652
CenturyLink	2012	1	Hong Kong	50	%		90,257		88,647
Other	Various	13	U.S.				18,479		14,603
Total		40				$	1,064,009	$	1,287,109

(1)	Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE.

(2)

Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty joint venture, which has a carrying value as of March 31, 2020 and December 31, 2019 of approximately $19.5 million and $23.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet.

The debt of our unconsolidated joint ventures generally is non-recourse to us, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions, and material misrepresentations.