Investment in Joint Ventures

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

We recorded approximately $0.9 million (each net of approximately $0.3 million and $0.2 million of depreciation expense, for the quarters ended March 31, 2016 and 2015, respectively) of equity in income from unconsolidated joint ventures for each of the quarters ended March 31, 2016 and 2015, respectively. We received approximately $0.6 million and $0.4 million in distributions from these joint ventures for the quarters ended March 31, 2016 and 2015, respectively.

On January 4, 2016, we contributed approximately $5.0 million to the ECHO JV which brought our total investment to approximately $15.4 million.

The following table summarizes our investment in unconsolidated joint ventures as of March 31, 2016 and December 31, 2015 (investment amounts in thousands with the number of Properties shown parenthetically):



						Investment as of				JV Income for the Quarters Ended
Investment	Location	Number of Sites	Economic Interest ^(a)			March 31, 2016		December 31, 2015		March 31, 2016		March 31, 2015
Meadows	Various (2,2)	1,077	50	%		$	207	$	162	$	246	$	273
Lakeshore	Florida (2,2)	342	65	%		61		46		83		96
Voyager	Arizona (1,1)	1,706	50	%	^(b)	7,347		7,166		539		452
ECHO JV	Various	—	50	%		15,379		10,367		13		63
		3,125				$	22,994	$	17,741	$	881	$	884

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(a)	The percentages shown approximate our economic interest as of March 31, 2016. 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.