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Investment in Unconsolidated Joint Ventures (Tables)
 3 Months Ended
Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Summary of Investments in Unconsolidated Joint Ventures
The following is a summary of our investment in unconsolidated joint ventures:
March 31, 2022December 31, 2021
Assets (1)
Real estate$1,213,324 $1,220,391 
Other assets108,877 127,464 
   Total assets$1,322,201 $1,347,855 
Liabilities and Partners' Capital (1)
Mortgage notes payable$860,489 $867,430 
Mezzanine notes payable238,952 242,942 
Other liabilities34,837 49,877 
Our share of partners' capital80,165 80,602 
Outside partner's capital107,758 107,004 
   Total liabilities and partners' capital$1,322,201 $1,347,855 
Investment in unconsolidated joint ventures
Our share of partners' capital$80,165 $80,602 
Our share of Mezzanine note payable120,842 125,306 
Basis adjustment (2)(141,204)(144,287)
   Total investment in unconsolidated joint ventures$59,803 $61,621 
(1)    These amounts include the assets of VAA of $1,255,390 and $1,280,867 at March 31, 2022 and December 31, 2021, respectively, and liabilities of VAA of $1,113,466 and $1,137,273 at March 31, 2022 and December 31, 2021, respectively.
(2)     We amortize the difference between the cost of our investments in unconsolidated joint ventures and the book value of our underlying equity into income on a straight-line basis consistent with the lives of the underlying assets.
The following is a summary of income (loss) from our investments in unconsolidated joint ventures:
Three Months Ended March 31,
20222021
Revenue (1)
   Rental revenue$34,848 $31,070 
   Other revenue11,477 15,289 
      Total revenue46,325 46,359 
Expenses (2)
   Operating expenses25,874 28,039 
   Depreciation and amortization8,151 8,062 
   Other income— (2,356)
   Interest13,566 14,175 
      Total expenses47,591 47,920 
Net loss$(1,266)$(1,561)
Our equity in the income (loss) in unconsolidated joint ventures$5,194 $3,336 
(1)    These amounts include revenue of VAA of $36,666 and $32,685 during the three months ended March 31, 2022 and 2021, respectively.
(2)    These amounts include expenses of VAA of $38,336 and $35,101 during the three months ended March 31, 2022 and 2021, respectively.