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Investments in and Advances to Unconsolidated Joint Ventures (Tables) | 3 Months Ended
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Mar. 31, 2023
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) |  | 2023 |  | 2022
SWF SH JV |  | Other |  | 19 |  | 54 |  | $ | 343,873 |  |  | $ | 345,978 |
South San Francisco JVs(3) |  | Life science |  | 7 |  | 70 |  | 319,535 |  |  | 309,969 |
Life Science JV |  | Life science |  | 1 |  | 49 |  | 26,817 |  |  | 26,601 |
Needham Land Parcel JV(4) |  | Life science |  | — |  | 38 |  | 15,658 |  |  | 15,391 |
Medical Office JVs(5) |  | Medical office |  | 3 |  | 20 - 67 |  | 8,796 |  |  | 8,738 |
|  |  |  |  |  |  |  | $ | 714,679 |  |  | $ | 706,677 |
_______________________________________ (1)These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. (2)Property counts and ownership percentages are as of March 31, 2023. (3)In August 2022, the Company sold a 30% interest in seven life science assets in South San Francisco, California to a sovereign wealth fund. This transaction resulted in the recognition of seven unconsolidated life science joint ventures in which the Company holds a 70% ownership percentage in each joint venture. These joint ventures have been aggregated herein due to similarity of the investments and operations. (4)Land held for development is excluded from the property count as of March 31, 2023. (5)Includes two unconsolidated medical office joint ventures in which the Company holds an ownership percentage as follows: (i) Ventures IV (20%) and (ii) Suburban Properties, LLC (67%). These joint ventures have been aggregated herein due to similarity of the investments and operations. In April 2023, the Company acquired the remaining 80% interest in one of the two properties in the Ventures IV unconsolidated joint venture for $4 million.

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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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