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Real Estate Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of information related to investments in consolidated real estate joint ventures | The table below sets forth information pertaining to our investments in consolidated real estate joint ventures as of June 30, 2021 (dollars in thousands):
|  |  |  |  |  |  |  | June 30, 2021 (1)
|  | Date Acquired |  | Nominal Ownership % |  |  |  | Total Assets |  | Encumbered Assets |  | Total Liabilities
Entity |  |  |  | Location |  |  |
LW Redstone Company, LLC (2) |  | 3/23/2010 |  | 85% |  | Huntsville, Alabama |  | $ | 429,103 |  |  | $ | 90,985 |  |  | $ | 89,943 |
Stevens Investors, LLC |  | 8/11/2015 |  | 95% |  | Washington, DC |  | 163,349 |  |  | 162,141 |  |  | 89,142 |
M Square Associates, LLC |  | 6/26/2007 |  | 50% |  | College Park, Maryland |  | 101,228 |  |  | 61,395 |  |  | 52,767 |
|  |  |  |  |  |  |  | $ | 693,680 |  |  | $ | 314,521 |  |  | $ | 231,852 |
(1)Excludes amounts eliminated in consolidation. (2)While net cash flow distributions to the partners vary depending on the source of the funds distributed, cash flows are generally distributed as follows: (1) cumulative preferred returns of 13.5% on our partner’s $9.0 million in invested capital; (2) cumulative preferred returns of 13.5% on our invested capital; (3) return of our invested capital; (4) return of our partner’s invested capital; and (5) any remaining residual 85% to us and 15% to our partner.
Schedule of information related to investments in unconsolidated real estate joint ventures | The table below sets forth information pertaining to our investments in unconsolidated real estate joint ventures accounted for using the equity method of accounting (dollars in thousands):
|  | Date Acquired |  | Nominal Ownership % |  | Number of Properties |  | Carrying Value of Investment (1)
Entity |  |  |  |  | June 30, 2021 |  | December 31, 2020
B RE COPT DC JV II LLC (2) |  | 10/30/2020 |  | 10% |  | 8 |  |  | $ | 15,877 |  |  | $ | 15,988 |
BREIT COPT DC JV LLC |  | 6/20/2019 |  | 10% |  | 9 |  |  | 12,840 |  |  | 13,315 |
B RE COPT DC JV III LLC |  | 6/2/2021 |  | 10% |  | 2 |  |  | 11,869 |  |  | — |
|  |  |  |  |  | 19 |  |  | $ | 40,586 |  |  | $ | 29,303 |
(1)Included in the line entitled “investment in unconsolidated real estate joint ventures” on our consolidated balance sheets. (2)Our investment in B RE COPT DC JV II LLC was lower than our share of the joint venture’s equity by $7.3 million as of June 30, 2021 and $7.4 million as of December 31, 2020 due to a difference between our cost basis and our share of the joint venture’s underlying equity in its net assets. We recognize adjustments to our share of the joint venture’s earnings and losses resulting from this basis difference in the underlying assets of the joint venture.

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- Definition Tabular disclosure of information pertaining to investments in consolidated real estate joint ventures. + References No definition available. + Details
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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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