Investments in and Advances to Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2019

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
			March 31,		December 31,
Entity(1)	Property Count	Ownership %	2019		2018
CCRC JV	15	49	$	358,172	$	365,764
U.K. JV(2)	68	49	102,692		101,735
MBK JV	5	50	34,935		35,435
Other SHOP JVs(3)	5	50 - 90	24,684		25,493
Medical Office JVs(4)	3	20 - 67	10,039		10,160
K&Y JVs(5)	3	80	1,431		1,430
Advances to unconsolidated joint ventures, net			13		71
			$	531,966	$	540,088

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

(3) Includes four unconsolidated SHOP 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%).

(4) 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%).

(5)

At March 31, 2019, includes two unconsolidated joint ventures. At December 31, 2018, includes three unconsolidated joint ventures.