Investments in Unconsolidated Entities

12 Months Ended

Dec. 31, 2015

Investments in Unconsolidated Entities [Abstract]

7. Investments in Unconsolidated Entities

We participate in a number of joint ventures, which generally invest in seniors housing and health care real estate. The results of operations for these properties have been included in our consolidated results of operations from the date of acquisition by the joint ventures and are reflected in our statements of comprehensive income as income or loss from unconsolidated entities. The following is a summary of our investments in unconsolidated entities (dollars in thousands):


	Percentage Ownership⁽¹⁾	December 31, 2015		December 31, 2014
Triple-net	10% to 49%	$	36,351	$	31,511
Seniors housing operating	10% to 50%		499,537		539,147
Outpatient medical	36% to 49%		6,393		173,493
Total		$	542,281	$	744,151
(1) Excludes ownership of in-substance real estate.

At December 31, 2015, the aggregate unamortized basis difference of our joint venture investments of $158,204,000 is primarily attributable to appreciation of the underlying properties and transaction costs. This difference will be amortized over the remaining useful life of the related properties and included in the reported amount of income from unconsolidated entities. Summary combined financial information for our investments in unconsolidated entities held as of December 31, 2015 is as follows (dollars in thousands):


		December 31, 2015		December 31, 2014
Net real estate investments	$	1,359,034	$	2,107,201
Other assets		2,241,084		992,637
Total assets		3,600,118		3,099,838
Total liabilities		2,769,093		1,769,457
Redeemable noncontrolling interests		14,024		40,525
Total equity	$	817,001	$	1,289,856


	Year Ended December 31,
		2015		2014		2013
Total revenues	$	2,947,993	$	1,879,240	$	1,739,381
Net income (loss)		(40,116)		5,002		(15,265)