v3.25.1
Investments in Non-Consolidated Entities
 3 Months Ended
Mar. 31, 2025
Noncontrolling Interest [Abstract]  
Investments in Non-Consolidated Entities Investments in Non-Consolidated Entities
Below is a schedule of the Company's investments in non-consolidated entities:
Percentage Ownership atInvestment Balance as ofEquity in earnings (losses) of non-consolidated entities
InvestmentMarch 31, 2025March 31, 2025December 31, 2024March 31, 2025March 31, 2024
NNN MFG Cold JV L.P. ("MFG Cold JV")(1)
20%$9,645 $10,428 $(763)$(990)
NNN Office JV L.P.
("NNN JV")(2)
20%15,062 15,189 (127)(173)
Etna Park 70, LLC(3)
90%9,901 9,732 (49)(70)
Etna Park East LLC(4)
90%2,346 2,360 (42)(48)
Lombard Street Lots, LLC (5)
44.1%2,310 2,309 1 — 
$39,264 $40,018 $(980)$(1,281)
(1)    MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company.
(2)    NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company.
(3)    Joint venture formed in 2017 with a developer entity to acquire a parcel of land.
(4)    Joint venture formed in 2019 with a developer entity to acquire a parcel of land.
(5)    The Company ceased to consolidate the operations of Lombard Street Lots, LLC in 2024. Lombard Street Lots, LLC ground leases a parcel of land to a parking operator.
The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments for the three months ended March 31, 2025 and 2024 were $970 and $1,044, respectively.