Investments in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The following tables provide summarized balance sheets of our investments in unconsolidated entities and a reconciliation to our equity investment:

	September 30, 2021
$ in thousands	Vida JV LLC			San Simeon Holdings			Total
Total assets	$	411,059		$	120,894		$	531,953
Total liabilities		(221,050	)		(79,764	)		(300,814	)
Total equity of unconsolidated entities		190,009			41,130			231,139
INREIT’s share		80,754			18,493			99,247
INREIT outside basis		247			—			247
INREIT investment in unconsolidated entities	$	81,001		$	18,493		$	99,494

	December 31, 2020
$ in thousands	Vida JV LLC			San Simeon Holdings			Total
Total assets	$	366,482		$	112,594		$	479,076
Total liabilities		(187,882	)		(76,322	)		(264,204	)
Total equity of unconsolidated entities		178,600			36,272			214,872
INREIT’s share		75,914			13,118			89,032
INREIT outside basis		252			—			252
INREIT investment in unconsolidated entities	$	76,166		$	13,118		$	89,284

The following tables provide summarized operating data of our investments in unconsolidated entities along with a reconciliation to the net income (loss) from unconsolidated entities:

	Three Months Ended September 30, 2021
$ in thousands	Vida JV LLC			San Simeon Holdings		Total
Total revenue of unconsolidated entities	$	9,397		$	2,003	$	11,400
Income (loss) of unconsolidated entities		(766	)		1,093		327
INREIT’s share		(326	)		510		184
Amortization of INREIT outside basis		(2	)		—		(2	)
INREIT’s income (loss) from unconsolidated entities	$	(328	)	$	510	$	182

	Nine Months Ended September 30, 2021
$ in thousands	Vida JV LLC			San Simeon Holdings		Total
Total revenue of unconsolidated entities	$	27,236		$	6,381	$	33,617
Income of unconsolidated entities		622			374		996
INREIT’s share		264			1,428		1,692
Amortization of INREIT outside basis		(6	)		—		(6	)
INREIT’s income from unconsolidated entities	$	258		$	1,428	$	1,686