Investments in Unconsolidated Entities

3 Months Ended

Mar. 31, 2021

Investments in Unconsolidated Entities

Investments in Unconsolidated Entities

5. Investments in Unconsolidated Entities

As of March 31, 2021 and December 31, 2020, our investments in unconsolidated entities accounted for under the equity method of accounting presented in our condensed consolidated balance sheets consist of the following (in thousands):

	Year	Metropolitan			Balance as of		Balance as of
Entity	Entity Formed	Area	% Ownership		March 31, 2021		December 31, 2020
Ascenty (1)	2019	Brazil / Chile / Mexico	51	% (2)	$	499,732	$	567,192
Mapletree	2019	Northern Virginia	20	%		181,519		184,890
Mitsubishi	Various	Osaka / Tokyo	50	%		177,388		278,947
Lumen	2012	Hong Kong	50	%		78,639		86,600
Other	Various	U.S.	Various			33,425		30,529
Total					$	970,703	$	1,148,158

(1) Our maximum exposure to loss related to this unconsolidated variable interest entity (VIE) is limited to our equity investment in this VIE.

(2) Includes an approximate 2% ownership interest held by a non-controlling interest in our entity that holds the investment in the Ascenty entity, which has a carrying value as of March 31, 2021 and December 31, 2020 of approximately $19.7 million and $21.9 million, respectively, and is classified within redeemable noncontrolling interests in our condensed consolidated balance sheet.

The debt of our unconsolidated entities generally is non-recourse to us, except for customary exceptions pertaining to such matters as intentional misuse of funds, environmental conditions, and material misrepresentations.