Investment in Joint Ventures

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

Investment in Unconsolidated Joint Ventures

We recorded approximately $0.9 million and $1.9 million (each net of approximately $0.2 million of depreciation expense) of equity in income from unconsolidated joint ventures for each of the quarters endedMarch 31, 2015 and 2014, respectively. We received approximately $0.4 million and $1.4 million in distributions from these joint ventures for the quarters endedMarch 31, 2015 and 2014, respectively. Approximately $1.1 million of the distributions received exceeded our basis in a joint venture and as such were recorded as income from unconsolidated joint ventures for the quarter endedMarch 31, 2014.

On February 12, 2015, we contributed approximately $4.0 million to the ECHO JV, which brought our total investment in this joint venture to approximately $10.4 million.

The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands with the number of Properties shown parenthetically as of March 31, 2015 and December 31, 2014, respectively):

						Investment as of				JV Income (loss) for the Quarters Ended
Investment	Location	Number of  Sites	Economic Interest (a)			March 31, 2015		December 31, 2014		March 31, 2015		March 31, 2014
Meadows	Various (2,2)	1,077	50	%		$	73	$	—	$	273	$	277
Lakeshore	Florida (2,2)	342	65	%		51		9		96		1,179
Voyager	Arizona (1,1)	1,706	50	%	(b)	7,400		7,201		452		438
ECHO JV	Various	—	50	%		10,365		6,302		63		(7		)
		3,125				$	17,889	$	13,512	$	884	$	1,887

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(a) The percentages shown approximate our economic interest as of March 31, 2015. Our legal ownership interest may differ.

(b) Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing the Property.