Investments in and Advances to Unconsolidated Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The Company owns interests in the following entities that are accounted for under the equity method, excluding investments classified as discontinued operations (dollars in thousands): 

				Carrying Amount
				September 30,		December 31,
Entity(1)	Segment	Property Count(2)	Ownership %(2)	2022		2021
SWF SH JV	Other	19	54	$	348,906	$	355,394
South San Francisco JVs(3)	Life science	7	70	298,806		—
Life Science JV	Life science	1	49	27,009		25,605
Needham Land Parcel JV(4)	Life science	—	38	15,342		13,566
Medical Office JVs(5)	Medical office	3	20 - 67	8,840		9,069
				$	698,903	$	403,634

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

(2)Property counts and ownership percentages are as of September 30, 2022.

(3)Includes seven unconsolidated life science joint ventures in South San Francisco, California in which the Company holds a 70% ownership percentage in each joint venture. These joint ventures have been aggregated herein due to similarity of the investments and operations. See “South San Francisco Joint Ventures” below for further information.

(4)In December 2021, the Company acquired a 38% interest in a life science development joint venture in Needham, Massachusetts for $13 million. Land held for development is excluded from the property count as of September 30, 2022.

(5)Includes two unconsolidated medical office joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%) and (ii) Suburban Properties, LLC (67%). During 2021, the Company also held a 30% interest in Ventures III, which issued its final distribution and was dissolved. These joint ventures have been aggregated herein due to similarity of the investments and operations.