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Investment in Unconsolidated Joint Ventures | 9 Months Ended
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Sep. 30, 2017
Investment in Unconsolidated Joint Ventures |
Investment in Unconsolidated Joint Ventures | Note 7 — Investment in Unconsolidated Joint Ventures At September 30, 2017 and December 31, 2016, the Company’s five unconsolidated joint ventures each owned and operated one property. The Company’s equity investment in such unconsolidated joint ventures at such dates totaled $10,648,000 and $10,833,000, respectively. The Company recorded equity in earnings of $212,000 and $663,000 for the three and nine months ended September 30, 2017, respectively, and $228,000 and $794,000 for the three and nine months ended September 30, 2016, respectively. At September 30, 2017, MCB is the Company’s joint venture partner in one of these unconsolidated joint ventures in which the Company has an equity investment of $8,171,000.

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