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Investments in and Advances to Unconsolidated Real Estate Ventures (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract] |
Composition of Investments | The following is a summary of the debt of our unconsolidated real estate ventures:
|  | Weighted Average Effective Interest Rate (1) |  | December 31,
|  |  | 2019 |  | 2018
|  |  |  | (In thousands)
Variable rate (2) |  | 4.10% |  | $ | 629,479 |  |  | $ | 461,704 |
Fixed rate (3) |  | 3.98% |  | 561,236 |  |  | 665,662 |
Unconsolidated real estate ventures - mortgages payable |  |  |  | 1,190,715 |  |  | 1,127,366 |
Unamortized deferred financing costs |  |  |  | (2,859 | ) |  | (1,998 | )
Unconsolidated real estate ventures - mortgages payable, net (4) |  |  |  | $ | 1,187,856 |  |  | $ | 1,125,368 |
______________
(1) | Weighted average effective interest rate as of December 31, 2019.
(2) | Includes variable rate mortgages payable with interest rate cap agreements.
(3) | Includes variable rate mortgages payable with interest rates fixed by interest rate swap agreements.
(4) | See Note 19 for additional information on guarantees of the debt of certain of our unconsolidated real estate ventures.
The following is a summary of the financial information for our unconsolidated real estate ventures:
| December 31,
| 2019 |  | 2018
Combined balance sheet information: | (In thousands)
Real estate, net | $ | 2,493,961 |  |  | $ | 2,050,985 |
Other assets, net (1) | 291,092 |  |  | 169,264 |
Total assets | $ | 2,785,053 |  |  | $ | 2,220,249 |
Borrowings, net | $ | 1,187,856 |  |  | $ | 1,125,368 |
Other liabilities, net (1) | 168,243 |  |  | 94,845 |
Total liabilities | 1,356,099 |  |  | 1,220,213 |
Total equity | 1,428,954 |  |  | 1,000,036 |
Total liabilities and equity | $ | 2,785,053 |  |  | $ | 2,220,249 |
______________
(1) | On January 1, 2019, our unconsolidated real estate ventures adopted Topic 842, which required the ventures to record operating right-of-use assets totaling $52.4 million and related lease liabilities totaling $44.1 million.
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Combined income statement information: | (In thousands)
Total revenue | $ | 266,653 |  |  | $ | 300,032 |  |  | $ | 135,256 |
Operating income (1) | 18,041 |  |  | 56,262 |  |  | 14,741 |
Net loss | (32,507 | ) |  | (1,155 | ) |  | (7,593 | )
______________ (1) Includes gain on sale of The Warner of $32.5 million recognized by our unconsolidated real estate venture with CPPIB during the year ended December 31, 2018. The following is a summary of the composition of our investments in unconsolidated real estate ventures:
|  | Ownership Interest (1) |  | December 31,
Real Estate Venture Partners |  |  | 2019 |  | 2018
|  |  | (In thousands)
Prudential Global Investment Management ("PGIM") |  | 50.0% |  | $ | 215,624 |  |  | $ | — |
CPPIB |  | 55.0% |  | 109,911 |  |  | 97,521 |
Landmark |  | 1.8% - 49.0% |  | 77,944 |  |  | 84,320 |
CBREI Venture |  | 5.0% - 64.0% |  | 68,405 |  |  | 73,776 |
Berkshire Group |  | 50.0% |  | 46,391 |  |  | 43,937 |
Brandywine |  | 30.0% |  | 13,830 |  |  | 13,777 |
CIM Group ("CIM") and Pacific Life Insurance Company ("PacLife") |  | 16.7% |  | 10,385 |  |  | 9,339 |
Other |  |  |  | 536 |  |  | 208 |
Total investments in unconsolidated real estate ventures |  | $ | 543,026 |  |  | $ | 322,878 |
_______________ (1) Ownership interests as of December 31, 2019. We have multiple investments with certain venture partners with varying ownership interests.

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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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