v3.26.1
Investments in Real Estate Ventures (Tables)
12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value
The following table summarizes the Company's investments in real estate ventures (in thousands):
December 31,
InvestmentOwnership %20252024Accounting Method
Investors X50.0%$113 $395 Fair Value
The Hartford2.5%459591 Fair Value
BLVD Forty Four5.0%1,7441,661 Fair Value
BLVD Ansel5.0%1,9721,952 Fair Value
Total investments recorded at fair value4,288 4,599 
Comstock 41100.0%1,665 1,629 Consolidated
Total investments in real estate ventures$5,953 $6,228 
Schedule of Investments in Real Estate Ventures
The following table below summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):
Balance as of December 31, 2023$5,513 
Investments74 
Distributions(668)
Change in fair value(320)
Balance as of December 31, 2024$4,599 
Investments21 
Distributions(289)
Change in fair value(43)
Balance as of December 31, 2025$4,288 
Summarized Financial Information for Unconsolidated Joint Venture
The following tables summarize the combined statements of operations information for our unconsolidated investments in real estate ventures (in thousands):
Year Ended December 31,
Combined Statements of Operations:20252024
Revenue$29,793 $28,115 
Operating income (loss)18,596 16,237 
Net income (loss)$(4,761)(5,882)