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Investments in and Advances to Unconsolidated Real Estate Ventures (Tables)
 12 Months Ended
Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Composition of Investments
The following is a summary of the composition of our investments in and advances to unconsolidated real estate ventures as of December 31, 2017 and 2016:
 
 
Ownership
Interest (1)
 
December 31,
Real Estate Venture Partners (1)
 
December 31,
2017
 
2017
 
2016
 
 
 
(In thousands)
Landmark
 
1.8% - 49.0%
 
$
95,368

 
$
—

CBREI Venture
 
5.0% - 64.0%
 
79,062

 
—

Canadian Pension Plan Investment Board ("CPPIB")
 
55.0%
 
36,317

 
36,312

Brandywine
 
30.0%
 
13,741

 
—

Berkshire Group
 
50.0%
 
27,761

 
—

JP Morgan
 
5.0%
 
9,296

 
9,335

Other
 
 
 
246

 
129

Total investments in unconsolidated real estate ventures
 
 
 
261,791

 
45,776

Advances to unconsolidated real estate ventures
 
 
 
20

 
—

Total investments in and advances to unconsolidated real
   estate ventures
 
 
 
$
261,811

 
$
45,776


_______________
(1) 
We aggregate our investments in and advances to unconsolidated real estate ventures by real estate venture partner. We have multiple investments with certain venture partners with varying ownership interests.
The following is a summary of the debt of our unconsolidated real estate ventures as of December 31, 2017 and 2016:
 
 
Weighted Average Effective
Interest Rate at
 
December 31,
 
 
December 31,
2017
 
2017
 
2016
 
 
 
 
(In thousands)
Variable rate (1)
 
4.40%
 
$
534,500

 
$
31,000

Fixed rate (2)
 
3.79%
 
657,701

 
273,000

Unconsolidated real estate ventures - mortgages payable
 
 
 
1,192,201

 
304,000

Unamortized deferred financing costs
 
 
 
(2,000
)
 
(1,034
)
Unconsolidated real estate ventures - mortgages payable, net (3)
 
 
 
$
1,190,201

 
$
302,966

______________
(1) 
Includes variable rate mortgages payable with interest rate cap agreements.
(2) 
Includes variable rate mortgages payable with interest rates fixed by interest rate swap agreements.
(3) 
See Note 17 for additional information regarding related commitments and contingencies.
The following is a summary of the financial information for our unconsolidated real estate ventures as of December 31, 2017 and 2016 and for each of the three years in the period ended December 31, 2017:
 
 
December 31,
 
 
2017
 
2016
Combined balance sheet information:
 
(In thousands)
Real estate, net
 
$
2,106,670

 
$
463,643

Other assets
 
264,731

 
134,596

Total assets
 
$
2,371,401

 
$
598,239

 
 
 
 
 
Mortgages payable, net
 
$
1,190,202

 
$
302,966

Other liabilities
 
76,415

 
24,896

Total liabilities
 
1,266,617

 
327,862

Noncontrolling interests
 
—

 
343

Total equity
 
1,104,784

 
270,034

Total liabilities and equity
 
$
2,371,401

 
$
598,239

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Combined income statement information:
 
(In thousands)
Total revenue
 
$
135,256

 
$
68,118

 
$
67,275

Operating income
 
14,741

 
19,283

 
21,173

Net income (loss)
 
(7,593
)
 
5,234

 
340