Investments in Unconsolidated Real Estate Venture (Tables)

12 Months Ended

Dec. 31, 2022

Unconsolidated Real Estate Ventures [Abstract]

Summary of Investment in Unconsolidated Real Estate Ventures

The following is a summary of our investment in our unconsolidated real estate venture (dollars in thousands):

		As of December 31,
Joint Venture	Ownership Interest	2022		2021
MedBase Venture	53.0%	$	271,644	$	131,840

Summary of Financial Information for Unconsolidated Real Estate Venture

The following is a summary of financial information for our unconsolidated real estate venture:

	As of December 31,
Balance sheet information:	2022		2021
Real estate, net	$	430,823	$	200,996
Other assets, net (1)		90,100		53,955
Total assets	$	520,923	$	254,951
Total liabilities (2)	$	9,026	$	6,904
Total equity		511,897		248,047
Total liabilities and equity	$	520,923	$	254,951
Company's share of equity	$	271,269	$	131,465
Basis differential (3)		375		375
Carrying value of the Company's investment in the unconsolidated venture	$	271,644	$	131,840

(1)At December 31, 2022 and 2021, this amount included right-of-use assets - finance leases totaling approximately $4.9 million and $5.0 million, respectively, representing a ground lease at VA – Lubbock.

(2)At December 31, 2022 and 2021, this amount included lease liabilities - finance leases totaling approximately $5.0 million and $5.0 million, respectively, representing a ground lease at VA – Lubbock.

(3)This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level.

	For the year ended December 31,
Income statement information:	2022		2021		2020
Total revenue	$	25,898	$	1,864	$	—
Operating income		6,530		548		—
Net income		6,366		512		—
Company's share of net income	$	3,374	$	271	$	—