Investments in and Advances to Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Joint Ventures

Investments in and Advances to Unconsolidated Joint Ventures

The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands):

			Carrying Amount
			March 31,		December 31,
Entity(1)	Ownership%		2018		2017
CCRC JV		49	$	395,005	$	400,241
RIDEA II(2)		40	328,873		259,651
Life Science JVs(3)		50 - 63	65,016		65,581
MBK JV		50	37,442		38,005
Development JVs(4)		50 - 90	23,733		23,365
Medical Office JVs(5)		20 - 67	12,395		12,488
K&Y JVs(6)		80	1,298		1,283
Advances to unconsolidated joint ventures, net			13		226
			$	863,775	$	800,840

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(1) These entities are not consolidated because the Company does not control, through voting rights or other means, the JVs.

(2) Effective January 1, 2018, the Company increased its carrying value in RIDEA II as a net adjustment to retained earnings under its elected transition approach in accordance with the adoption of ASU 2017-05 (see Note 2). See Note 4 for further information on the deconsolidation and pending sale of RIDEA II.

(3) Includes the following unconsolidated partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).

(4) Includes four unconsolidated SHOP development partnerships (and the Company’s ownership percentage): (i) Vintage Park Development JV (85%); (ii) Waldwick JV (85%); (iii) Otay Ranch JV (90%); and (iv) MBK Development JV (50%).

(5) Includes three unconsolidated medical office partnerships (and the Company’s ownership percentage): HCP Ventures IV, LLC (20%); HCP Ventures III, LLC (30%); and Suburban Properties, LLC (67%).

(6) Includes three unconsolidated JVs.