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Investments in and Advances to Unconsolidated Joint Ventures | 12 Months Ended
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Dec. 31, 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
|  |  |  | December 31,
Entity(1) |  | Ownership % |  | 2018 |  | 2017
CCRC JV |  | 49 |  | $ | 365,764 |  |  | $ | 400,241 |
RIDEA II(2) |  | 40 |  | — |  |  | 259,651 |
U.K. JV(3) |  | 49 |  | 101,735 |  |  | — |
Life Science JVs(4) |  | 50 - 63 |  | — |  |  | 65,581 |
MBK JV |  | 50 |  | 35,435 |  |  | 38,005 |
Development JVs(5) |  | 50 - 90 |  | 25,493 |  |  | 23,365 |
Medical Office JVs(6) |  | 20 - 67 |  | 10,160 |  |  | 12,488 |
K&Y JVs(7) |  | 80 |  | 1,430 |  |  | 1,283 |
Advances to unconsolidated joint ventures, net |  |  |  | 71 |  |  | 226 |
|  |  |  | $ | 540,088 |  |  | $ | 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 joint venture.
(2) | In June 2018, the Company sold its equity method investment in RIDEA II (see Note 5).
(3) | See Note 5 for discussion of the formation of the U.K. JV and the Company’s equity method investment.
(4) | 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%). In November 2018, the Company acquired the outstanding equity interests and began consolidating the entities (see Note 4).
(5) | Includes four unconsolidated 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%).
(6) | Includes three unconsolidated medical office partnerships (and the Company’s ownership percentage): (i) HCP Ventures IV, LLC (20%); (ii) HCP Ventures III, LLC (30%); and (iii) Suburban Properties, LLC (67%).
(7) | Includes three unconsolidated joint ventures.
The following tables summarize combined financial information for the Company’s unconsolidated joint ventures (in thousands):
|  | December 31,
|  | 2018 |  | 2017
Real estate, net |  | $ | 2,128,147 |  |  | $ | 2,104,090 |
Other assets, net |  | 479,935 |  |  | 928,790 |
Total assets |  | $ | 2,608,082 |  |  | $ | 3,032,880 |
Mortgage and other debt |  | $ | 827,622 |  |  | $ | 900,911 |
Accounts payable and other |  | 655,177 |  |  | 561,523 |
Other partners’ capital |  | 515,791 |  |  | 655,311 |
HCP’s capital(1) |  | 609,492 |  |  | 915,135 |
Total liabilities and partners’ capital |  | $ | 2,608,082 |  |  | $ | 3,032,880 |
|  | Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Total revenues |  | $ | 642,724 |  |  | $ | 810,216 |  |  | $ | 424,134 |
Total operating expense |  | (492,784 | ) |  | (643,452 | ) |  | (344,553 | )
Income (loss) from discontinued operations |  | — |  |  | — |  |  | 8,810 |
Net income (loss) |  | (43,704 | ) |  | (42,408 | ) |  | 43,015 |
HCP’s share in earnings |  | (2,594 | ) |  | 10,901 |  |  | 11,360 |
Fees earned by HCP |  | 125 |  |  | 133 |  |  | 299 |
Distributions received by HCP |  | 48,939 |  |  | 81,165 |  |  | 54,858 |
At December 31, 2018 and 2017, the aggregate unamortized basis difference of the Company's investments in unconsolidated joint ventures of $69 million and $115 million, respectively, is primarily attributable to the difference between the amount for which the Company purchased its interest in the entity and the historical carrying value of the net assets of the entity. The difference is being amortized over the remaining useful life of the related assets and included in equity income (loss) from unconsolidated joint ventures.

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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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