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Investment in Unconsolidated Joint Ventures
3 Months Ended
Mar. 31, 2016
Investment in Unconsolidated Joint Ventures  
Investment in Unconsolidated Joint Ventures

Note 7 — Investment in Unconsolidated Joint Ventures

 

At March 31, 2016 and December 31, 2015, the Company’s five unconsolidated joint ventures each own and operate one property.  Such ventures are not considered VIEs (see Note 2).  The Company’s equity investment in such unconsolidated joint ventures at such dates totaled $11,076,000 and $11,350,000, respectively. The Company recorded equity in earnings of $209,000 and $147,000 for the three months ended March 31, 2016 and 2015, respectively.