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v3.23.1

Investments in Unconsolidated Entities (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments in Unconsolidated Entities. |
Summary of Financial Information for Unconsolidated Entities | A summary of the Company’s investments in unconsolidated entities accounted for under the equity method of accounting is shown below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year | ​ | Metropolitan | ​ | ​ | ​ | ​ | Balance as of | ​ | Balance as of
Entity | ​ | Entity Formed | ​ | Area of Properties | ​ | % Ownership | ​ | ​ | March 31, 2023 | ​ | ​ | December 31, 2022
Digital Core REIT (DCRU) | ​ | 2021 | ​ | U.S. / Toronto / Frankfurt | ​ | 35 | % | ​ | $ | 328,906 | ​ | $ | 328,584
Ownership interest in DCRU operating properties | ​ | 2021 | ​ | U.S. / Toronto / Frankfurt | ​ | Various | ​ | ​ | ​ | 135,789 | ​ | ​ | 136,431
Ascenty | ​ | 2019 | ​ | Brazil / Chile / Mexico | ​ | 51 | % | ​ | ​ | 638,028 | ​ | ​ | 606,141
Mapletree | ​ | 2019 | ​ | Northern Virginia | ​ | 20 | % | ​ | ​ | 156,780 | ​ | ​ | 160,200
Mitsubishi(1) | ​ | Various | ​ | Osaka / Tokyo | ​ | 50 | % | ​ |  | 412,752 | ​ |  | 453,420
Lumen | ​ | 2012 | ​ | Hong Kong | ​ | 50 | % | ​ |  | 69,352 | ​ |  | 68,821
Other | ​ | Various | ​ | U.S. / India / Nigeria | ​ | Various | ​ | ​ |  | 253,969 | ​ |  | 237,829
Total | ​ | ​ | ​ |  | ​ |  | ​ | ​ | $ | 1,995,576 | ​ | $ | 1,991,426
(1) | During the three months ended March 31, 2023, we derecognized all assets, liabilities and 50% noncontrolling interests related to a joint venture that was previously consolidated and recognized an equity method investment of approximately $61.9 million based on the value of our 50% noncontrolling interest in the joint venture. We had concluded that we would consolidate the joint venture during the development phase of the buildings because we had the power to direct activities that most significantly impacted the joint venture’s economic performance, however, upon the building’s completion and commencing the operational phase, we no longer have the power to direct the activities that most significantly impact the joint venture’s economic performance and deconsolidated the joint venture and recognized the investment under the equity method as we still retained significant influence.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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