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v3.20.1

Investments in and Advances to Unconsolidated Joint Ventures (Tables) | 3 Months Ended
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Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The Company owns interests in the following entities that are accounted for under the equity method (dollars in thousands):
|  |  |  |  |  |  |  |  | Carrying Amount
|  |  |  |  |  |  |  |  |  |  | March 31, |  | December 31,
Entity(1) |  | Segment |  |  | Property Count(2) |  |  | Ownership %(2) |  |  | 2020 |  | 2019
SWF SH JV(3) |  | SHOP |  |  | 19 |  |  | 54 |  |  | $ | 411,057 |  |  | $ | 428,258 |
MBK JV |  | SHOP |  |  | 5 |  |  | 50 |  |  | 32,821 |  |  | 33,415 |
Other SHOP JVs(4) |  | SHOP |  |  | 4 |  |  | 50 - 90 |  |  | 16,843 |  |  | 17,719 |
Medical Office JVs(5) |  | MOB |  |  | 3 |  |  | 20 - 67 |  |  | 9,809 |  |  | 9,845 |
Other JVs(6) |  | Other |  |  | — |  |  | 41 - 47 |  |  | 9,370 |  |  | 10,372 |
CCRC JV(7) |  | CCRC |  |  | 2 |  |  | 49 |  |  | — |  |  | 325,830 |
Advances to unconsolidated joint ventures, net |  |  |  |  |  |  |  |  |  |  | — |  |  | 76 |
|  |  |  |  |  |  |  |  |  |  | $ | 479,900 |  |  | $ | 825,515 |
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(1) | These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.
(2) | Property count and ownership percentage are as of March 31, 2020.
(3) | In December 2019, the Company formed the SWF SH JV with a sovereign wealth fund. See Note 4 for discussion of the formation of the SWF SH JV.
(4) | In June 2019, the Company acquired the outstanding equity interests in, and began consolidating, the Vintage Park JV (see Note 4). Remaining unconsolidated SHOP joint ventures (and the Company’s ownership percentage) include: (i) Waldwick JV (85%); (ii) Otay Ranch JV (90%); and (iii) MBK Development JV (50%).
(5) | Includes three unconsolidated medical office joint ventures (and the Company’s ownership percentage): (i) Ventures IV (20%); (ii) Ventures III (30%); and (iii) Suburban Properties, LLC (67%).
(6) | Unconsolidated other joint ventures (and the Company’s ownership percentage) include: (i) Discovery Naples JV (41%) and (ii) Discovery Sarasota JV (47%). The Discovery Naples JV and Discovery Sarasota JV are joint ventures that are developing senior housing facilities and the Company’s investments in those joint ventures are preferred equity investments earning a 10% per annum fixed-rate return. In January 2020, the Company sold its interest in the remaining K&Y joint venture for $12 million. At December 31, 2019, K&Y joint venture includes an ownership percentage of 80% and one unconsolidated joint venture. In October 2019, the Company sold its interest in one of the K&Y joint ventures for $4 million.
(7) See Note 3 for discussion of the 2019 MTCA with Brookdale, including the acquisition of Brookdale’s interest in 13 of the 15 communities in the CCRC JV in January 2020.

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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 http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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