The following table provides consolidated assets and liabilities related to the VIEs discussed above as of March 31, 2023 and December 31, 2022 (amounts in thousands):


	March 31, 2023		December 31, 2022
Consolidated Assets	$	685,218	$	691,880
Consolidated Liabilities	$	169,122	$	158,932

Summary of Variable Rate Construction Mortgage Debt

The following table and information summarizes the variable rate construction mortgage debt that is non-recourse to the Company at March 31, 2023 (aggregate and amounts borrowed under loan commitments in thousands):


	Recently Completed Operating Property		Project Under Development
Number of joint ventures with debt financing		1		1
Aggregate loan commitments	$	67,589	$	73,344
Amounts borrowed under loan commitments (1)	$	64,735	$	59,070
Maturity dates	2023		2025

(1)

See Note 9 for the proceeds of secured conventional floating rate debt under Mortgage Notes Payable.

Summary of Company's Investment in Unconsolidated Entities

The following table and information summarizes the Company’s investments in unconsolidated entities as of March 31, 2023 and December 31, 2022 (amounts in thousands except for ownership percentage):


	March 31, 2023			December 31, 2022			Ownership Percentage
Investments in Unconsolidated Entities:
Various Real Estate Holdings (VIE)	$	36,195		$	35,974		Varies
Projects Under Development and Land Held for Development (VIE)		231,735			218,043		62% - 95% (1)
Real Estate Technology Funds/Companies (VIE)		24,594			25,249		Varies
Other		(245	)		(242	)	Varies
Investments in Unconsolidated Entities	$	292,279		$	279,024

(1)

In certain instances, the joint venture agreements contain provisions for promoted interests in favor of our joint venture partner. If the terms of the promoted interest are attained, then our share of the proceeds from a sale or other capital event of the unconsolidated entity may be less than the indicated ownership percentage.

Summary of Company's Unconsolidated Joint Ventures Deemed to be VIEs

The following table summarizes the Company’s unconsolidated joint ventures that were deemed to be VIEs as of March 31, 2023:

Real Estate Holdings (1)

Projects Under Development (2), (5)

Projects Held for Development (2), (3)

Entities

Projects

Apartment Units (4)

Projects

Apartment Units (4)

Unconsolidated Joint Ventures (VIE)

2

6

1,982

3

966

(1)

Represents entities that hold various real estate investments.

(2)

Represents separate unconsolidated joint ventures for the purpose of developing multifamily rental properties.

(3)

Represents separate unconsolidated joint ventures that have not yet started.

(4)

Represents the intended number of apartment units to be developed.

(5)

The land parcel under one of the projects is subject to a long-term ground lease.