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INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments in Unconsolidated Joint Ventures
The following table summarizes balances on the consolidated balance sheets related to our unconsolidated joint ventures as of December 31, 2021 and 2020 (dollars in thousands):
20212020
Joint VentureOwnership PercentageNumber of Shopping CentersInvestment BalanceUnamortized Basis Difference Ownership PercentageNumber of Shopping CentersInvestment BalanceUnamortized Basis Difference
NRP20 %1$2,700 $219 20 %5$6,304 $1,381 
GRP I14 %2028,626 — 14 %2031,062 — 
Equity Method Investments in Unconsolidated Joint Ventures, Investment Income
The following table summarizes the activity on the consolidated statements of operations related to our unconsolidated joint ventures as of December 31, 2021, 2020, and 2019 (in thousands):
202120202019
Distributions to PECO After Formation or Assumption
NRP$5,137 $4,192 $7,167 
GRP I2,598 1,047 2,025 
GRP IIN/A177 40 
Gain (Loss) from Unconsolidated Joint Ventures
NRP$2,695 $2,119 $3,989 
GRP I162 (309)(72)
GRP IIN/A42 6 
Amortization and Write-Off of Basis Differences
NRP$1,162 $1,808 $2,837 
GRP II(1)
N/A879 17 
(1)As part of the merger between GRP I and GRP II, the total remaining value of our GRP II investment of $5.1 million was contributed to GRP I, and the result of this transaction was an increase in our GRP I investment of $5.1 million.