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Investments in and Advances to Unconsolidated Joint Ventures | 6 Months Ended
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Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Investments in and Advances to Unconsolidated Joint Ventures | Investments in and Advances to Unconsolidated Joint Ventures The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands):
|  |  |  |  |  | Carrying Amount
|  |  |  |  |  |  |  | June 30, |  | December 31,
Entity(1) |  |  |  | Ownership% |  | 2018 |  | 2017
CCRC JV |  |  |  |  | 49 |  |  | $ | 383,274 |  |  | $ | 400,241 |
RIDEA II(2) |  |  |  |  | 40 |  |  | — |  |  | 259,651 |
U.K. JV |  |  |  |  | 49 |  |  | 104,955 |  |  | — |
Life Science JVs(3) |  |  |  |  | 50 - 63 |  |  | 64,814 |  |  | 65,581 |
MBK JV |  |  |  |  | 50 |  |  | 36,781 |  |  | 38,005 |
Development JVs(4) |  |  |  |  | 50 - 90 |  |  | 25,008 |  |  | 23,365 |
Medical Office JVs(5) |  |  |  |  | 20 - 67 |  |  | 12,428 |  |  | 12,488 |
K&Y JVs(6) |  |  |  |  | 80 |  |  | 1,336 |  |  | 1,283 |
Advances to unconsolidated joint ventures, net |  |  |  |  |  |  |  | 11 |  |  | 226 |
|  |  |  |  |  |  |  | $ | 628,607 |  |  | $ | 800,840 |
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(1) | These entities are not consolidated because the Company does not control, through voting rights or other means, the JVs.
(2) | Effective January 1, 2018, the Company increased its carrying value in RIDEA II as a net adjustment to retained earnings under its elected transition approach in accordance with the adoption of ASU 2017-05 (see Note 2). In June 2018, the Company sold its equity method investment in RIDEA II (see Note 4).
(3) | Includes the following unconsolidated partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).
(4) | Includes four unconsolidated SHOP development partnerships (and the Company’s ownership percentage): (i) Vintage Park Development JV (85%); (ii) Waldwick JV (85%); (iii) Otay Ranch JV (90%); and (iv) MBK Development JV (50%).
(5) | Includes three unconsolidated medical office partnerships (and the Company’s ownership percentage): HCP Ventures IV, LLC (20%); HCP Ventures III, LLC (30%); and Suburban Properties, LLC (67%).
(6) | Includes three unconsolidated JVs.
See Note 4 for discussion of the formation of the U.K. JV and the Company’s equity method investment.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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