XML 23 R12.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Investments in Unconsolidated Joint Ventures
 3 Months Ended
Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures
The following table summarizes our investments in unconsolidated joint ventures (investment and income/(loss) amounts in thousands):
    Investment as ofIncome/(Loss) for the Quarters Ended
Investment
Location (a)
 Number of Sites
Economic
Interest (b)
March 31, 2024December 31, 2023March 31, 2024March 31, 2023
MeadowsVarious (2,2)1,077 50 %$611 $534 $676 $374 
LakeshoreFlorida (3,3)721 (c)3,395 3,387 182 172 
VoyagerArizona (1,1)— — %
(d)
— — — 692 
ECHO JVVarious — 50 %2,786 2,773 13 (190)
RVCVarious 1,283 80 %
(e)
62,401 62,441 (414)(353)
Mulberry FarmsArizona200 50 %10,255 10,546 (291)(31)
Hiawassee KOA JVGeorgia283 50 %5,541 5,623 117 (140)
3,564 $84,989 $85,304 $283 $524 
_____________________
(a)The number of Properties are shown parenthetically for the quarters ended March 31, 2024 and 2023, respectively.
(b)The percentages shown approximate our economic interest as of March 31, 2024. Our legal ownership interest may differ.
(c)Includes two joint ventures in which we own a 65% interest in each and the Crosswinds joint venture in which we own a 49% interest.
(d)In March 2023, we sold our 33% interest in the utility plant servicing Voyager RV Resort.
(e)Includes three joint ventures of which one joint venture owns a portfolio of seven operating RV communities and two joint ventures each own an RV property under development.
We received approximately $1.8 million and $1.2 million in distributions from our unconsolidated joint ventures for the quarters ended March 31, 2024 and 2023, respectively. Approximately $0.6 million and $0.3 million of the distributions made to us exceeded our basis in our unconsolidated joint ventures for the quarters ended March 31, 2024 and 2023, respectively, and as such, were recorded as income from unconsolidated joint ventures.