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Investment in Unconsolidated Joint Ventures | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Joint Ventures | Investment in Unconsolidated Joint Ventures The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands):
|  |  |  |  |  |  |  |  |  | Investment as of December 31, |  | Income/(Loss) for Years Ended December 31,
Investment |  | Location (a) |  | Number of Sites |  | Economic Interest (b) |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2021
Meadows |  | Various (2,2) |  | 1,077 |  |  | 50 | % |  |  |  | $ | 534 |  |  | $ | 158 |  |  | $ | 2,676 |  |  | $ | 2,458 |  |  | $ | 2,010 |
Lakeshore |  | Florida (3,3) |  | 721 |  |  | (c) |  |  |  | 3,387 |  |  | 2,625 |  |  | 757 |  |  | 683 |  |  | 568 |
Voyager |  | Arizona (1,1) |  | — |  |  | — | % |  | (d) |  | — |  |  | 139 |  |  | 694 |  |  | 43 |  |  | 556 |
ECHO JV |  | Various |  | — |  |  | 50 | % |  |  |  | 2,773 |  |  | 2,963 |  |  | (190) |  |  | 958 |  |  | 773 |
RVC |  | Various |  | 1,283 |  |  | 80 | % |  | (e) |  | 62,441 |  |  | 60,323 |  |  | (585) |  |  | (587) |  |  | (26) |
Mulberry Farms |  | Arizona |  | 200 |  |  | 50 | % |  |  |  | 10,546 |  |  | 9,902 |  |  | (246) |  |  | (169) |  |  | — |
Hiawassee KOA JV |  | Georgia |  | 283 |  |  | 50 | % |  |  |  | 5,623 |  |  | 5,294 |  |  | (393) |  |  | (23) |  |  | — |
|  |  |  | 3,564 |  |  |  |  |  |  | $ | 85,304 |  |  | $ | 81,404 |  |  | $ | 2,713 |  |  | $ | 3,363 |  |  | $ | 3,881 |
_____________________ (a)The number of Properties are shown parenthetically for the years ended December 31, 2023 and 2022, respectively. (b)The percentages shown approximate our economic interest as of December 31, 2023. Our legal ownership interest may differ. (c)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. (d)In March of 2023, we sold our 33% interest in the utility plant servicing Voyager RV Resort. (e)Includes three joint ventures of which one joint venture owns a portfolio of seven operating RV communities and two joint ventures each own an RV property under development. We recognized $2.7 million, $3.4 million and $3.9 million (net of $4.6 million, $3.9 million and $1.1 million of depreciation expense, respectively) of equity in income from unconsolidated joint ventures for the years ended December 31, 2023, 2022 and 2021, respectively. We received approximately $7.0 million, $21.6 million and $3.2 million in distributions from joint ventures for the years ended December 31, 2023, 2022 and 2021, respectively. Approximately $2.3 million, $2.2 million and $2.9 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, 2023, 2022 and 2021, 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 -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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