Quarterly report pursuant to Section 13 or 15(d)

Real Estate Joint Ventures

v3.10.0.1
Real Estate Joint Ventures
6 Months Ended
Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Real Estate Joint Ventures
Real Estate Joint Ventures

Consolidated Joint Ventures

The table below sets forth information pertaining to our investments in consolidated real estate joint ventures as of June 30, 2018 (dollars in thousands):
 
 
 
 
Nominal
 
 
 
 
 
 
 
 
 
 
 
 
Ownership
 
 
 
June 30, 2018 (1)
 
 
Date
 
% as of
 
 
 
Total
 
Encumbered
 
Total
 
 
Acquired
 
6/30/2018
 
Nature of Activity
 
Assets
 
Assets
 
Liabilities
LW Redstone Company, LLC
 
3/23/2010
 
85%
 
Development and operation of real estate (2)
 
$
159,805

 
$
74,012

 
$
51,157

M Square Associates, LLC
 
6/26/2007
 
50%
 
Development and operation of real estate (3)
 
73,395

 
44,457

 
46,323

Stevens Investors, LLC
 
8/11/2015
 
95%
 
Development of real estate (4)
 
75,813

 

 
4,887

 
 
 
 
 
 
 
 
$
309,013

 
$
118,469

 
$
102,367

(1)
Excludes amounts eliminated in consolidation.
(2) 
This joint venture’s properties are in Huntsville, Alabama.
(3)
This joint venture’s properties are in College Park, Maryland.
(4) 
This joint venture’s property is in Washington, DC.

Unconsolidated Joint Venture

As of June 30, 2018, we owned a 50% interest in GI-COPT DC Partnership LLC (“GI-COPT”), a joint venture owning six triple-net leased, single-tenant data center shell properties in Virginia, that we account for using the equity method of accounting. As of June 30, 2018, we had an investment balance in GI-COPT of $40.8 million.