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Investment in Unconsolidated Joint Ventures | 3 Months Ended
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Mar. 31, 2015
Investment in Unconsolidated Joint Ventures |
Investment in Unconsolidated Joint Ventures | Note 7 - Investment in Unconsolidated Joint Ventures The Company has investments in four and five unconsolidated joint ventures at March 31, 2015 and December 31, 2014, respectively, each of which owned and operated one property. The Company’s equity investment in such unconsolidated joint ventures at such dates totaled $2,486,000 and $4,907,000, respectively. The Company recorded equity in earnings of $147,000 and $133,000 for the three months ended March 30, 2015 and 2014, respectively. On March 31, 2015, the Company purchased its partner’s 50% interest in one of these unconsolidated joint ventures for $6,300,000 (see note 4).

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