The table below sets forth information pertaining to our investments in consolidated real estate joint ventures as of September 30, 2017 (dollars in thousands):
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Nominal |
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Ownership |
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September 30, 2017 (1) |
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Date |
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% as of |
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Total |
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Encumbered |
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Total |
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Acquired |
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9/30/2017 |
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Nature of Activity |
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Assets |
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Assets |
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Liabilities |
LW Redstone Company, LLC |
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3/23/2010 |
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85% |
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Development and operation of real estate (2) |
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$ |
158,937 |
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$ |
76,374 |
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$ |
50,344 |
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M Square Associates, LLC |
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6/26/2007 |
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50% |
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Development and operation of real estate (3) |
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70,767 |
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45,813 |
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46,895 |
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Stevens Investors, LLC |
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8/11/2015 |
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95% |
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Development of real estate (4) |
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70,383 |
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— |
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23,566 |
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$ |
300,087 |
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$ |
122,187 |
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$ |
120,805 |
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(1) |
Excludes amounts eliminated in consolidation. |
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(2) |
This joint venture’s properties are in Huntsville, Alabama. |
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(3) |
This joint venture’s properties are in College Park, Maryland. |
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(4) |
This joint venture’s property is in Washington, DC. Our partner in this joint venture received an additional distribution from the joint venture of $6.7 million in July 2017 that was reported in other liabilities on our consolidated balance sheet as of December 31, 2016.
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