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Investment in Unconsolidated Joint Ventures (Tables) | 9 Months Ended
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Sep. 30, 2018
Investment in Unconsolidated Joint Ventures |
Summary of investments in unconsolidated joint ventures | The following table summarizes our investment in unconsolidated joint ventures (dollar amounts in thousands):
|  | Type |  | Type |  | Total |  |  | Currently |  |  | Number |  |  |  |  |  |  |
|  | of |  | of |  | Preferred |  |  | Paid in |  |  | of |  |  | Investment |  |  | Carrying |
State |  | Properties |  | Investment |  | Return |  |  | Cash |  |  | Beds/ Units |  |  | Commitment |  |  | Value |
Arizona |  | ALF/MC/ILF |  | Preferred Equity | (1) | 15 | % |  | 7 | % |  | 585 |  | $ | 25,650 |  | $ | 23,942 |
Florida |  | ALF/IL/MC |  | Mezzanine | (2) | 15 | % |  | 12 | % |  | 99 |  |  | 2,900 | (3) |  | 3,169 | (3)
Florida |  | UDP-ALF/MC |  | Mezzanine | (2) | 15 | % |  | 10 | % |  | 127 |  |  | 3,400 |  |  | 3,400 |
Total |  |  |  |  |  |  |  |  |  |  |  | 811 |  | $ | 31,950 |  | $ | 30,511 |
| (1) |  | We have concluded that the JV is a variable interest entity (“VIE”) in accordance with GAAP. However, because we do not control the entity, nor do we have any role in the day-to-day management, we are not the primary beneficiary of the JV. Therefore, we account for the JV investment using the equity method.
| (2) |  | We evaluated these acquisition, development and construction (“ADC”) arrangements and determined that the characteristics are similar to jointly-owned investments or partnerships, and accordingly, these investments are accounted for as unconsolidated joint ventures under the equity method of accounting instead of loan accounting.
| (3) |  | Since interest payments were deferred and no interest was recorded for the first twelve months of the loan, we used the effective interest method in accordance with GAAP to recognize interest income and recorded the difference between the effective interest income and cash interest income to the loan principal balance.
Summary of capital contributions, income recognized and cash interest received from investments in unconsolidated joint ventures | The following table summarizes our capital contributions, income recognized, and cash interest received related to our investments in unconsolidated joint ventures (in thousands):
|  | Nine Months Ended September 30, |
Type |  | 2018 |  | 2017 |
of |  |  | Capital |  |  | Income |  |  | Cash Interest |  |  | Capital |  |  | Income |  |  | Cash Interest |
Properties |  |  | Contribution |  |  | Recognized |  |  | Received |  |  | Contribution |  |  | Recognized |  |  | Received |
ALF/MC/ILF |  | $ | 580 |  | $ | 1,490 |  | $ | 1,436 |  | $ | 1,100 |  | $ | 1,134 |  | $ | 1,020 |
ALF/IL/MC |  |  | — |  |  | 383 |  |  | 291 |  |  | — |  |  | 383 |  |  | 216 |
UDP-ALF/MC |  |  | — |  |  | 230 |  |  | — | (1) |  | 2,747 |  |  | 118 |  |  | — | (1)
Total |  | $ | 580 |  | $ | 2,103 |  | $ | 1,727 |  | $ | 3,847 |  | $ | 1,635 |  | $ | 1,236 |
(1) We withheld $653 at the time of loan origination which is being applied to interest. As of September 30, 2018, we still hold $257 which will be applied to future interest.

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- Definition Tabular disclosure of the entity's capital contributions, income recognized and cash interest received related to investments in unconsolidated joint ventures. + References No definition available. + Details
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- Definition Tabular disclosure of the entity's investment in unconsolidated joint ventures. + References No definition available. + Details
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- References No definition available. + Details
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