INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)

6 Months Ended

Jun. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity in Earnings of Unconsolidated Entities

The following table summarizes the Company's investments in unconsolidated entities at June 30, 2025 and December 31, 2024 and equity in earnings of unconsolidated entities for the three and six months ended June 30, 2025 and 2024 (dollars in thousands, except in the footnotes):


						Earnings (Losses) of Unconsolidated Entities
	Ownership %					For the Three Months Ended June 30,						For the Six Months Ended June 30,
	at June 30, 2025	June 30, 2025		December 31, 2024		2025			2024			2025			2024
Investments in RCT I and II (1)	3%	$	1,548	$	1,548	$	—		$	—		$	—		$	—
65 E. Wacker Joint Venture, LLC (2)	90%		23,706		20,157		(553	)		(41	)		(741	)		(41	)
7720 McCallum JV, LLC (3)	50%		—		152		152			—			(152	)		—
Pacmulti Affiliates JV, LLC (4)	50%		—		—		(268	)		—			(268	)		—
Total		$	25,254	$	21,857	$	(669	)	$	(41	)	$	(1,161	)	$	(41	)

(1)

During the three and six months ended June 30, 2025 and 2024, dividends from the investments in RCT I's and RCT II's common shares in the amounts of $33,000 and $66,000 and $38,000 and $75,000, respectively, are recorded in other revenue on the Company's consolidated statements of operations.

(2)

Refer to Note 3 for details regarding the Wacker JV.

(3)

Refer to Note 3 for details regarding the McCallum JV.

(4)

Refer to Note 3 for details regarding the Pacmulti JV.