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Real Estate Joint Ventures (Tables) | 9 Months Ended
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Sep. 30, 2022
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 as of September 30, 2022 pertaining to our investments in consolidated real estate joint ventures, which are each variable interest entities (dollars in thousands):
|  |  |  | Nominal Ownership % |  |  |  | September 30, 2022 (1)
|  | Date Acquired |  |  |  |  | Total Assets |  | Encumbered Assets |  | Total Liabilities |  | Mortgage Debt
Entity |  |  |  | Location |  |  |  |
LW Redstone Company, LLC (2) |  | 3/23/2010 |  | 85% |  | Huntsville, Alabama |  | $ | 578,626 |  |  | $ | 88,453 |  |  | $ | 112,909 |  |  | $ | 52,366 |
Stevens Investors, LLC (3) |  | 8/11/2015 |  | 95% |  | Washington, DC |  | 167,869 |  |  | — |  |  | 678 |  |  | — |
M Square Associates, LLC |  | 6/26/2007 |  | 50% |  | College Park, Maryland |  | 101,865 |  |  | 59,933 |  |  | 51,531 |  |  | 50,085 |
|  |  |  |  |  |  |  | $ | 848,360 |  |  | $ | 148,386 |  |  | $ | 165,118 |  |  | $ | 102,451 |
(1)Excludes amounts eliminated in consolidation. (2)We fund all capital requirements. Our partner generally receives distributions of the first $1.2 million of annual operating cash flows and we receive the remainder. (3)As of September 30, 2022, we also had a $112.0 million construction loan to the joint venture, which is eliminated in consolidation, that carries an interest rate of LIBOR plus 2.35% and had a balance of $96.4 million; the loan matures on August 11, 2024, and we have priority for repayment in full of borrowings and accrued interest on the loan over partner distributions of any future refinancing proceeds or other available cash flows.
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 |  |  |  |  | September 30, 2022 |  | December 31, 2021
B RE COPT DC JV II LLC (2) |  | 10/30/2020 |  | 10% |  | 8 |  |  | $ | 15,140 |  |  | $ | 15,579 |
BREIT COPT DC JV LLC |  | 6/20/2019 |  | 10% |  | 9 |  |  | 11,801 |  |  | 12,460 |
B RE COPT DC JV III LLC |  | 6/2/2021 |  | 10% |  | 2 |  |  | 11,703 |  |  | 11,850 |
|  |  |  |  |  | 19 |  |  | $ | 38,644 |  |  | $ | 39,889 |
(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 $7.1 million as of September 30, 2022 and $7.2 million as of December 31, 2021 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 https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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