v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Real estate $ 601,660 $ 602,431
Cash and cash equivalents 9,588 14,180
Restricted cash 13,435 15,233
Short-term investments 78,668 74,964
Notes receivable (including $64,835 and $67,349 at March 31, 2026 and December 31, 2025, respectively, from related parties) 139,562 142,439
Investment in unconsolidated joint ventures 1,270 1,270
Receivable from related party 102,205 103,558
Other assets (including $619 and $1,475 at March 31, 2026 and December 31, 2025, respectively, from related parties) 142,506 143,250
Total assets 1,088,894 1,097,325
Liabilities:    
Mortgages and other notes payable 215,436 214,367
Accounts payable and other liabilities (including $37 and $30 at March 31, 2026 and December 31, 2025, respectively, from related parties) 44,428 49,629
Accrued interest 3,917 3,811
Deferred revenue 9,791 9,791
Total liabilities 273,572 277,598
Shareholders' Equity:    
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 900,614 shares issued and outstanding 1,801 1,801
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,152,043 shares issued and outstanding 162 162
Additional paid-in capital 63,711 61,039
Retained earnings 553,851 554,402
Total shareholders' equity 619,525 617,404
Noncontrolling interests 195,797 202,323
Total equity 815,322 819,727
Total liabilities and equity $ 1,088,894 $ 1,097,325