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Investment in Unconsolidated Joint Ventures
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures
The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands):
 Investment as of December 31,Income/(Loss) for Years Ended December 31,
InvestmentLocationNumber
of Sites
Economic Interest (a)
 20242023202420232022
MeadowsVarious1,077 50 %$405 $534 $7,659 $2,676 $2,458 
LakeshoreFlorida721 
(b)
3,849 3,387 823 757 683 
VoyagerArizona— — %
(c)
— — — 694 43 
ECHO JVVarious — 50 %2,783 2,773 10 (190)958 
RVCVarious 1,489 80 %
(d)
61,505 62,441 (1,630)(585)(587)
Mulberry FarmsArizona200 50 %9,669 10,546 (750)(246)(169)
Hiawassee KOA JVGeorgia283 50 %5,561 5,623 136 (393)(23)
3,770 $83,772 $85,304 $6,248 $2,713 $3,363 
_____________________ 
(a)The percentages shown approximate our economic interest as of December 31, 2024. Our legal ownership interest may differ.
(b)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.
(c)In March of 2023, we sold our 33% interest in the utility plant servicing Voyager RV Resort.
(d)Includes four joint ventures of which one joint venture owns a portfolio of seven operating RV communities, two joint ventures each own an RV property under development and one joint venture which purchases and sells homes.
We recognized $6.2 million, $2.7 million and $3.4 million (net of $4.8 million, $4.6 million and $3.9 million of depreciation expense, respectively) of equity in income from unconsolidated joint ventures for the years ended December 31, 2024, 2023 and 2022, respectively. We received approximately $16.7 million, $7.0 million and $21.6 million in distributions from joint ventures for the years ended December 31, 2024, 2023 and 2022, respectively. Approximately $7.4 million, $2.3 million and $2.2 million of the distributions made to us exceeded our investment basis in joint ventures, and as such, were recorded as income from unconsolidated joint ventures for the years ended December 31, 2024, 2023 and 2022, respectively.