INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)

3 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

Below is a summary of our investments in unconsolidated real estate entities as of March 31, 2023 and December 31, 2022, respectively (dollars in thousands):

	Ownership as of (1)		Carrying Amount as of
	March 31, 2023	December 31, 2022	March 31, 2023		December 31, 2022
Investment in unconsolidated real estate entities:
Ventas Life Science & Healthcare Real Estate Fund	21.0%	21.0%	$	261,319	$	263,979
Pension Fund Joint Venture	23.3%	22.9%	28,490		25,028
Research & Innovation Development Joint Venture	51.5%	51.0%	307,791		284,962
Ventas Investment Management Platform			597,600		573,969
Atrium Health & Wake Forest Joint Venture	48.5%	48.5%	9,359		5,403
All other (2)	34.0%-38.0%	34.0%-38.0%	(953)		577
Total investments in unconsolidated real estate entities			$	606,006	$	579,949

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(1)     The entities in which we have an ownership interest may have less than a 100% interest in the underlying real estate. The ownership percentages in the table reflect our interest in the underlying real estate. Joint venture members, including us in some instances, have equity participation rights based on the underlying performance of the investments, which could result in non pro rata distributions.

(2)     Includes investments in land parcels, parking structures and other de minimis investments in unconsolidated real estate entities.