Investments in Unconsolidated Entities

9 Months Ended

Sep. 30, 2017

Investments In Unconsolidated Entities [Abstract]

7. Investments in Unconsolidated Entities

We participate in a number of joint ventures, which generally invest in seniors housing and health care real estate. The results of operations for these entities have been included in our consolidated results of operations from the date of acquisition by the joint ventures and are reflected in our Consolidated Statements of Comprehensive Income as income or loss from unconsolidated entities. The following is a summary of our investments in unconsolidated entities (dollars in thousands):

	Percentage Ownership⁽¹⁾	September 30, 2017		December 31, 2016
Triple-net	10% to 49%	$	22,543	$	27,005
Seniors housing operating	10% to 50%		332,390		407,172
Outpatient medical	43%		52,574		22,961
Total		$	407,507	$	457,138

(1) Excludes ownership of in-substance real estate.

During the nine months ended September 30, 2017, we increased our ownership in the Sunrise Senior Living, Inc. management company from 24% to 34%. At September 30, 2017, the aggregate unamortized basis difference of our joint venture investments of $83,843,000 is primarily attributable to the difference between the amount for which we purchase our interest in the entity, including transaction costs, and the historical carrying value of the net assets of the entity. This difference is being amortized over the remaining useful life of the related properties and included in the reported amount of income from unconsolidated entities.