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Investment in Unconsolidated Joint Ventures | 12 Months Ended
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Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Joint Ventures | On November 1, 2021, we contributed approximately $49.2 million to acquire an 80% interest in RVC Outdoor Destinations (“RVC”). RVC owns a portfolio of six operating RV communities located in Arkansas, California, Colorado, Georgia, Florida and Tennessee. We use the equity method of accounting as we have the ability to exercise significant influence over operating and financial policies of RVC but do not have the ability to control major decisions of the entity. The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands with the number of Properties shown parenthetically for the years ended December 31, 2021 and 2020, respectively):
|  |  |  |  |  |  |  |  |  | Investment as of December 31, |  | Income/(Loss) for Years Ended December 31,
Investment |  | Location |  | Number of Sites |  | Economic Interest (a) |  |  |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2019
Meadows |  | Various (2,2) |  | 1,077 |  |  | 50 | % |  |  |  | $ | — |  |  | $ | — |  |  | $ | 2,010 |  |  | $ | 1,879 |  |  | $ | 1,400 |
Lakeshore |  | Florida (3,3) |  | 721 |  |  | (b) |  |  |  | 2,638 |  |  | 2,281 |  |  | 568 |  |  | 1,405 |  |  | 263 |
Voyager |  | Arizona (1,1) |  | — |  |  | 50 | % |  | (c) |  | 141 |  |  | 83 |  |  | 556 |  |  | 1,616 |  |  | 2,951 |
Loggerhead |  | Florida |  | — |  |  | — | % |  | (d) |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,501 |
ECHO JV |  | Various |  | — |  |  | 50 | % |  |  |  | 18,136 |  |  | 17,362 |  |  | 773 |  |  | 499 |  |  | 640 |
RVC |  | Various |  | 1,019 |  |  | 80 | % |  |  |  | 49,397 |  |  | — |  |  | (26) |  |  | — |  |  | — |
|  |  |  | 2,817 |  |  |  |  |  |  | $ | 70,312 |  |  | $ | 19,726 |  |  | $ | 3,881 |  |  | $ | 5,399 |  |  | $ | 8,755 |
_____________________ (a)The percentages shown approximate our economic interest as of December 31, 2021. Our legal ownership interest may differ. (b)Includes two joint ventures in which we own a 65% interest in each and the Crosswinds joint venture in which we own a 49% interest. (c)Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing this Property. On October 14, 2021, we completed the acquisition of the remaining interest in the Voyager joint venture (see Note 6. Acquisitions). (d)On September 10, 2019, we completed the acquisition of the remaining interest in the Loggerhead joint venture (see Note 6. Acquisitions). Loggerhead sites represent marina slip count. We recognized $3.9 million, $5.4 million and $8.8 million (net of $1.1 million, $0.7 million and $1.2 million of depreciation expense, respectively) of equity in income from unconsolidated joint ventures for the years ended December 31, 2021, 2020 and 2019, respectively. We received approximately $3.2 million, $5.7 million and $11.5 million in distributions from joint ventures for the years ended December 31, 2021, 2020 and 2019, respectively. Approximately $2.9 million, $4.8 million and $3.5 million of the distributions made to us exceeded our investment basis in joint ventures, and as such, were recorded as income from unconsolidated joint ventures for the years ended December 31, 2021, 2020 and 2019 respectively.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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