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Investments in and Advances to Unconsolidated Joint Ventures (Tables)
 9 Months Ended
Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
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)
 
Property Count
 
 
Ownership %
 
 
2019
 
2018
CCRC JV(2)
 
15
 
 
49
 
 
$
334,546

 
$
365,764

U.K. JV(3)
 
68
 
 
49
 
 
98,692

 
101,735

MBK JV
 
5
 
 
50
 
 
33,814

 
35,435

Other SHOP JVs(4)
 
4
 
 
41- 90
 
 
26,733

 
25,493

Medical Office JVs(5)
 
3
 
 
20 - 67
 
 
9,890

 
10,160

K&Y JVs(6)
 
3
 
 
80
 
 
1,545

 
1,430

Advances to unconsolidated joint ventures, net
 
 
 
 
 
 
 
25

 
71

 
 
 
 
 
 
 
 
$
505,245

 
$
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 2019 MTCA with Brookdale, including the pending acquisition of Brookdale’s interest in the CCRC JV.
(3)
See Note 4 for discussion of the formation of the U.K. JV and the Company’s equity method investment.
(4)
In June 2019, the Company acquired the outstanding equity interests in, and began consolidating, the Vintage Park JV (see Note 4). Remaining unconsolidated SHOP joint ventures (and the Company’s ownership percentage) include: (i) Waldwick JV (85%); (ii) Otay Ranch JV (90%); (iii) MBK Development JV (50%); (iv) Discovery Naples JV (41%); and (v) Discovery Sarasota JV (47%). The Company’s investments in the Discovery Naples JV and the Discovery Sarasota JV are preferred equity investments earning a 10% per annum fixed-rate return.
(5)
Includes three unconsolidated medical office joint ventures (and the Company’s ownership percentage): Ventures IV (20%); Ventures III (30%); and Suburban Properties, LLC (67%).
(6)
At September 30, 2019, includes two unconsolidated joint ventures. At December 31, 2018, includes three unconsolidated joint ventures. In October 2019, the Company sold its interest in one of the unconsolidated joint ventures for $4 million.