Investments in and Advances to Unconsolidated Joint Ventures

9 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Joint Ventures

Investments in and Advances to Unconsolidated Joint Ventures

The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands):

			Carrying Amount
			September 30,		December 31,
Entity(1)	Ownership%		2018		2017
CCRC JV		49	$	374,988	$	400,241
RIDEA II(2)		40	—		259,651
U.K. JV(3)		49	105,200		—
Life Science JVs(4)		50 - 63	67,328		65,581
MBK JV		50	35,934		38,005
Development JVs(5)		50 - 90	26,100		23,365
Medical Office JVs(6)		20 - 67	12,313		12,488
K&Y JVs(7)		80	1,380		1,283
Advances to unconsolidated joint ventures, net			12		226
			$	623,255	$	800,840

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(1) These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.

(2) In June 2018, the Company sold its equity method investment in RIDEA II (see Note 4).

(3) See Note 4 for discussion of the formation of the U.K. JV and the Company’s equity method investment.

(4) Includes the following unconsolidated partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).

(5) Includes four unconsolidated SHOP development joint ventures (and the Company’s ownership percentage): (i) Vintage Park Development JV (85%); (ii) Waldwick JV (85%); (iii) Otay Ranch JV (90%); and (iv) MBK Development JV (50%).

(6) Includes three unconsolidated medical office joint ventures (and the Company’s ownership percentage): HCP Ventures IV, LLC (20%); HCP Ventures III, LLC (30%); and Suburban Properties, LLC (67%).

(7) Includes three unconsolidated joint ventures.