Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2021

Investments In Partially Owned Entities [Abstract]

Summary of Company's Investment in Unconsolidated Entities

The following table and information summarizes the Company’s investments in unconsolidated entities, which are accounted for under the equity method of accounting as the requirements for consolidation are not met, as of March 31, 2021 and December 31, 2020 (amounts in thousands except for ownership percentage):

	March 31, 2021			December 31, 2020			Ownership Percentage
Investments in Unconsolidated Entities:
Operating Property (VIE) (1)	$	37,731		$	38,288		33.3%
Real Estate Technology (2)		16,036			14,866		Varies
Other		(493	)		(372	)	Varies
Investments in Unconsolidated Entities	$	53,274		$	52,782

(1) Represents an unconsolidated interest in an entity that owns the land underlying one of the consolidated joint venture properties noted above and owns and operates a related parking facility.  The joint venture, as a limited partner, does not have substantive kick-out or participating rights in the entity.  As a result, the entity qualifies as a VIE.  The joint venture does not have a controlling financial interest in the VIE and is not the VIE’s primary beneficiary.  The joint venture does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance or the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.  As a result, the entity that owns the land and owns and operates the parking facility is unconsolidated and recorded using the equity method of accounting.

(2) Represents unconsolidated investments in five separate real estate technology funds/companies.