Investments in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2023

Investments in Unconsolidated Entities.

Summary of Financial Information for Unconsolidated Entities

A summary of the Company’s investments in unconsolidated entities accounted for under the equity method of accounting is shown below (in thousands):

			Balance as of		Balance as of
	% Ownership			September 30, 2023		December 31, 2022
Americas (1)	Various	%	$	1,257,262	$	912,842
APAC (2)(5)	50	%		525,104		543,524
EMEA (3)	Various	%		59,402		62,570
Global (4)	42	%		338,545		472,490
Total			$	2,180,313	$	1,991,426

(1) Includes Ascenty, Clise, Colovore, GI Partners, Mapletree, Menlo, TPG Real Estate, and Walsh.

(2) Includes BAM Digital Realty, Lumen, and MCDR.

(3) Includes Medallion and Mivne.

(4) Includes Digital Core REIT.

(5) During the nine months ended September 30, 2023, we derecognized all assets, liabilities and 50% noncontrolling interests related to a joint venture that was previously consolidated and recognized an equity method investment of approximately $61.9 million based on the value of our 50% noncontrolling interest in the joint venture. We had concluded that we would consolidate the joint venture during the development phase of the buildings because we had the power to direct activities that most significantly impacted the joint venture’s economic performance, however, upon the building’s completion and commencing the operational phase, we no longer have the power to direct the activities that most significantly impact the joint venture’s economic performance and deconsolidated the joint venture and recognized the investment under the equity method as we still retained significant influence.