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Investments in Non-Consolidated Entities | 6 Months Ended
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Jun. 30, 2023
Noncontrolling Interest [Abstract] |
Investments in Non-Consolidated Entities | Investments in Non-Consolidated Entities Below is a schedule of the Company's investments in non-consolidated entities:
| Percentage Ownership at |  | Investment Balance as of |  | Equity in earnings (losses) of non-consolidated entities
Investment | June 30, 2023 |  | June 30, 2023 |  | December 31, 2022 |  | June 30, 2023 | June 30, 2022
NNN MFG Cold JV L.P. ("MFG Cold JV")(1) | 20% |  | $ | 22,617 |  |  | $ | 26,592 |  |  | $ | (1,597) |  | $ | (600) |
NNN Office JV L.P. ("NNN JV")(2) | 20% |  | 12,637 |  |  | 12,900 |  |  | (263) |  | 17,521 |
Etna Park 70 LLC(3) | 90% |  | 13,333 |  |  | 12,975 |  |  | (86) |  | (49) |
Etna Park East LLC(4) | 90% |  | 2,096 |  |  | 2,126 |  |  | (72) |  | (48) |
BSH Lessee L.P.(5) | 25% |  | — |  |  | 3,613 |  |  | 4,608 |  | 96 |
|  |  | $ | 50,683 |  |  | $ | 58,206 |  |  | $ | 2,590 |  | $ | 16,920 |
(1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. (2) NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. During 2022, NNN JV sold three assets and the Company recognized its share of aggregate gains on sale of $22,896 within equity in earnings of non-consolidated entities within its unaudited condensed consolidated statements of operations. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. The joint venture commenced development of a 250,000 square foot speculative development project for an estimated cost of $29,000. Subsequent to June 30, 2023, LXP entered into an agreement to fund all of the construction costs, inclusive of its partner's share, to complete the Etna Park 70 industrial facility. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) A joint venture investment which sold its sole single-tenant, net-leased asset in January 2023 and the Company recognized its share of the gain on sale of $4,791 within equity in earnings of non-consolidated entities within its unaudited condensed consolidated statements of operations. The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments for the six months ended June 30, 2023 and 2022 were $2,208 and $2,875, respectively.

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- 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/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 2: 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 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 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
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- References No definition available. + Details
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