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Real Estate Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2023
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 June 30, 2023 pertaining to our investments in consolidated real estate joint ventures, which are each variable interest entities (dollars in thousands):
|  |  |  | Nominal Ownership % |  |  |  | June 30, 2023 (1)
|  | Date Acquired |  |  |  |  | Total Assets |  | Encumbered Assets |  | Total Liabilities |  | Mortgage Debt
Entity |  |  |  | Location |  |  |  |
LW Redstone Company, LLC (2) |  | 3/23/2010 |  | 85% |  | Huntsville, Alabama |  | $ | 661,917 |  |  | $ | 96,088 |  |  | $ | 105,280 |  |  | $ | 51,301 |
Stevens Investors, LLC |  | 8/11/2015 |  | 95% |  | Washington, DC |  | 167,132 |  |  | — |  |  | 1,738 |  |  | — |
M Square Associates, LLC |  | 6/26/2007 |  | 50% |  | College Park, Maryland |  | 100,933 |  |  | 58,171 |  |  | 50,445 |  |  | 49,220 |
|  |  |  |  |  |  |  | $ | 929,982 |  |  | $ | 154,259 |  |  | $ | 157,463 |  |  | $ | 100,521 |
(1)Excludes amounts eliminated in consolidation. (2)We fund all capital requirements. Our partner receives distributions of $1.2 million of annual operating cash flows and we receive the remainder.
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, 2023 |  | December 31, 2022
Redshift JV LLC |  | 1/10/2023 |  | 10% |  | 3 |  |  | $ | 21,151 |  |  | $ | — |
BREIT COPT DC JV LLC |  | 6/20/2019 |  | 10% |  | 9 |  |  | 11,096 |  |  | 11,568 |
Quark JV LLC |  | 12/14/2022 |  | 10% |  | 2 |  |  | 6,747 |  |  | 6,758 |
B RE COPT DC JV III LLC |  | 6/2/2021 |  | 10% |  | 2 |  |  | 2,934 |  |  | 3,134 |
B RE COPT DC JV II LLC (2) |  | 10/30/2020 |  | 10% |  | 8 |  |  | (1,999) |  |  | (1,459) |
|  |  |  |  |  | 24 |  |  | $ | 39,929 |  |  | $ | 20,001 |
(1)Included $41.9 million and $21.5 million reported in “Investment in unconsolidated real estate joint ventures” as of June 30, 2023 and December 31, 2022, respectively, and $2.0 million and $1.5 million for investments with deficit balances reported in “other liabilities” on our consolidated balance sheets as of June 30, 2023 and December 31, 2022, respectively. (2)Our investment in B RE COPT DC JV II LLC was lower than our share of the joint venture’s equity by $6.9 million as of June 30, 2023 and $7.0 million as of December 31, 2022 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://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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