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Investment in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Joint Ventures
The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands):
Investment as of
InvestmentDecember 31, 2025December 31, 2024
RVC (a)
$56,638 $61,505 
Other (b)
28,403 22,267 
$85,041 $83,772 
 
Income/(Loss) for the Years Ended December 31, (d)
InvestmentLocationNumber
of Sites
Economic Interest (c)
202520242023
RVC (a)
Various 1,489 80 %(2,952)(1,630)(585)
Other (b)
Various2,414 
49% to 65%
9,472 7,878 3,298 
3,903 $6,520 $6,248 $2,713 
_____________________ 
(a)Includes three joint ventures which include eight operating RV communities and one RV property under development.
(b)Includes various other joint ventures
(c)The percentages shown approximate our economic interest as of December 31, 2025. Our legal ownership interest may differ. We do not exercise control over these entities.
(d)Net of depreciation expense of $5.7 million, $4.8 million and $4.6 million for the years ended December 31, 2025, 2024 and 2023, respectively.