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Investment in Unconsolidated Joint Ventures | 9 Months Ended
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Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Joint Ventures | Investment in Unconsolidated Joint Ventures The following table summarizes our investments in unconsolidated joint ventures (investment and income/(loss) amounts in thousands):
|  |  |  |  |  |  |  | Investment as of |  | Income/(Loss) for the Nine Months Ended
Investment |  | Location |  | Number of Sites |  | Economic Interest (a) |  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | September 30, 2023
Meadows |  | Various |  | 1,077 |  |  | 50 | % |  | $ | 407 |  |  | $ | 534 |  |  | $ | 7,360 |  |  | $ | 1,649 |
Lakeshore |  | Florida |  | 721 |  |  |  | (b) | 3,764 |  |  | 3,387 |  |  | 665 |  |  | 487 |
Voyager |  | Arizona |  | — |  |  | — | % | (c) | — |  |  | — |  |  | — |  |  | 694 |
ECHO JV |  | Various |  | — |  |  | 50 | % |  | 2,797 |  |  | 2,773 |  |  | 24 |  |  | (199) |
RVC |  | Various |  | 1,489 |  |  | 80 | % | (d) | 62,534 |  |  | 62,441 |  |  | (801) |  |  | (297) |
Mulberry Farms |  | Arizona |  | 200 |  |  | 50 | % |  | 9,795 |  |  | 10,546 |  |  | (625) |  |  | 96 |
Hiawassee KOA JV |  | Georgia |  | 283 |  |  | 50 | % |  | 5,537 |  |  | 5,623 |  |  | 113 |  |  | (272) |
|  |  |  | 3,770 |  |  |  |  | $ | 84,834 |  |  | $ | 85,304 |  |  | $ | 6,736 |  |  | $ | 2,158 |
_____________________ (a)The percentages shown approximate our economic interest as of September 30, 2024. 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)In March 2023, we sold our 33% interest in the utility plant servicing Voyager RV Resort. (d)Includes three joint ventures which include eight operating RV communities and one RV property under development. We received approximately $15.4 million and $4.9 million in distributions from our unconsolidated joint ventures for the nine months ended September 30, 2024 and 2023, respectively. Approximately $7.0 million and $1.4 million of the distributions made to us exceeded our basis in our unconsolidated joint ventures for the nine months ended September 30, 2024 and 2023, respectively, and as such, were recorded as income 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://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: 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 3: 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 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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