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Investment in Joint Ventures
 9 Months Ended
Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Unconsolidated Joint Ventures
Investment in Unconsolidated Joint Ventures
We recorded approximately $3.6 million and $3.8 million (each net of approximately $0.8 million and $0.7 million of depreciation expense, respectively) of equity in income from unconsolidated joint ventures for each of the nine months ended September 30, 2015 and 2014, respectively. We received approximately $3.4 million and $3.3 million in distributions from these joint ventures for the nine months ended September 30, 2015 and 2014, respectively. Approximately $1.4 million and $2.0 million of the distributions made to us, using proceeds generated by refinancing transactions, exceeded our basis in joint ventures and as such, were recorded as income from unconsolidated joint ventures for the nine months ended September 30, 2015 and 2014, respectively.
On February 12, 2015, we contributed approximately $4.0 million to the ECHO JV which brought our total investment to $10.0 million.
The following table summarizes our investment in unconsolidated joint ventures as of September 30, 2015 and December 31, 2014 (investment amounts in thousands with the number of Properties shown parenthetically):
 
 
 
 
 
 
 
 
Investment as of
 
JV Income (loss) for the
Nine Months Ended
Investment
Location
 
 Number of 
Sites
 
Economic
Interest (a)
 
 
September 30,
2015
 
December 31,
2014
 
September 30,
2015
 
September 30,
2014
Meadows
Various (2,2)
 
1,077

 
50
%
 
 
$
137

 
$
—

 
$
1,176

 
$
1,703

Lakeshore
Florida (2,2)
 
342

 
65
%
 
 
17

 
9

 
1,694

 
1,288

Voyager
Arizona (1,1)
 
1,706

 
50
%
(b) 
 
7,126

 
7,201

 
764

 
724

Other
Various
 
—

 
20
%
(c) 
 
—

 
—

 
—

 
25

ECHO JV
Various
 
—

 
50
%
 
 
10,274

 
6,302

 
(28
)
 
28

 
 
 
3,125

 
 
 
 
$
17,554

 
$
13,512

 
$
3,606

 
$
3,768

_____________________
(a)
The percentages shown approximate our economic interest as of September 30, 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.
(c)
During the quarter ended September 30, 2014, we received payment of $0.1 million for the sale of our remaining 20% interest in the Time Shares Only joint venture.