XML 35 R14.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Investment in Unconsolidated Joint Ventures | 12 Months Ended
--- | ---
Dec. 31, 2024
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 |  | Number of Sites |  | Economic Interest (a) |  |  |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2022
Meadows |  | Various |  | 1,077 |  |  | 50 | % |  |  |  | $ | 405 |  |  | $ | 534 |  |  | $ | 7,659 |  |  | $ | 2,676 |  |  | $ | 2,458 |
Lakeshore |  | Florida |  | 721 |  |  | (b) |  |  |  | 3,849 |  |  | 3,387 |  |  | 823 |  |  | 757 |  |  | 683 |
Voyager |  | Arizona |  | — |  |  | — | % |  | (c) |  | — |  |  | — |  |  | — |  |  | 694 |  |  | 43 |
ECHO JV |  | Various |  | — |  |  | 50 | % |  |  |  | 2,783 |  |  | 2,773 |  |  | 10 |  |  | (190) |  |  | 958 |
RVC |  | Various |  | 1,489 |  |  | 80 | % |  | (d) |  | 61,505 |  |  | 62,441 |  |  | (1,630) |  |  | (585) |  |  | (587) |
Mulberry Farms |  | Arizona |  | 200 |  |  | 50 | % |  |  |  | 9,669 |  |  | 10,546 |  |  | (750) |  |  | (246) |  |  | (169) |
Hiawassee KOA JV |  | Georgia |  | 283 |  |  | 50 | % |  |  |  | 5,561 |  |  | 5,623 |  |  | 136 |  |  | (393) |  |  | (23) |
|  |  |  | 3,770 |  |  |  |  |  |  | $ | 83,772 |  |  | $ | 85,304 |  |  | $ | 6,248 |  |  | $ | 2,713 |  |  | $ | 3,363 |
_____________________ (a)The percentages shown approximate our economic interest as of December 31, 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 of 2023, we sold our 33% interest in the utility plant servicing Voyager RV Resort. (d)Includes four joint ventures of which one joint venture owns a portfolio of seven operating RV communities, two joint ventures each own an RV property under development and one joint venture which purchases and sells homes. We recognized $6.2 million, $2.7 million and $3.4 million (net of $4.8 million, $4.6 million and $3.9 million of depreciation expense, respectively) of equity in income from unconsolidated joint ventures for the years ended December 31, 2024, 2023 and 2022, respectively. We received approximately $16.7 million, $7.0 million and $21.6 million in distributions from joint ventures for the years ended December 31, 2024, 2023 and 2022, respectively. Approximately $7.4 million, $2.3 million and $2.2 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, 2024, 2023 and 2022, respectively.

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration