Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details)

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INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Assets        
Real estate $ 2,778,039 $ 2,744,361    
Other assets 1,022,475 598,544    
Total assets 3,864,398 3,398,249    
Equity of:        
Meritage 2,347,868 1,973,990 $ 1,720,755 $ 1,576,825
Total liabilities and stockholders’ equity 3,864,398 3,398,249    
Equity Method Investment, Nonconsolidated Investee or Group of Investees        
Assets        
Cash 4,656 6,329    
Real estate 5,745 6,654    
Other assets 5,118 4,382    
Total assets 15,519 17,365    
Liabilities and equity:        
Accounts payable and other liabilities 5,588 6,580    
Equity of:        
Meritage [1] 5,330 5,678    
Other 4,601 5,107    
Total liabilities and stockholders’ equity $ 15,519 $ 17,365    
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reflected in our consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses. As discussed in Note 2 to these consolidated financial statements, the balances above do not include $217,000, $279,000 and $454,000 of capitalized interest that is a component of our investment balances at December 31, 2020, 2019 and 2018, respectively.