INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

Below is a summary of our investments in unconsolidated real estate entities as of March 31, 2024 and December 31, 2023, respectively (dollars in thousands):

	Ownership as of (1)		Carrying Amount as of
	March 31, 2024	December 31, 2023	March 31, 2024		December 31, 2023
Investments in unconsolidated real estate entities:
Ventas Life Science & Healthcare Real Estate Fund	20.1%	20.1%	$	265,394	$	264,442
Pension Fund Joint Venture	25.0%	25.0%	20,364		22,169
Research & Innovation Development Joint Venture	53.0%	53.0%	279,282		275,829
Ventas Investment Management platform			565,040		562,440
Atrium Health & Wake Forest Joint Venture	48.5%	48.5%	35,737		35,137
All other (2)	34.0%-37.5%	34.0%-37.5%	629		629
Total investments in unconsolidated real estate entities			$	601,406	$	598,206

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(1)    The entities in which we have an ownership interest may have less than a 100% interest in the underlying real estate. The ownership percentages in the table reflect our interest in the entities. Joint venture members, including us in some instances, have equity participation rights based on the underlying performance of the investments, which could result in non pro rata distributions.

(2)     Includes investments in parking structures and other de minimis investments in unconsolidated real estate entities.