The following table summarizes the Company's investments in unconsolidated entities at March 31, 2026 and December 31, 2025 and equity in earnings (losses) of unconsolidated entities for the three months ended March 31, 2026 and 2025 (dollars in thousands, except in the footnotes):


						Earnings (Losses) of Unconsolidated Entities
	Ownership %					For the Three Months Ended March 31,
	at March 31, 2026	March 31, 2026		December 31, 2025		2026			2025
Unsecured Junior Subordinated Debentures(1)	3%	$	1,548	$	1,548	$	—		$	—
65 E. Wacker Joint Venture, LLC (2)	90%		28,174		27,689		484			(188	)
7720 McCallum JV, LLC (3)	50%		—		—		(108	)		(304	)
Pacmulti Affiliates JV, LLC (4)	50%		—		—		(131	)		—
Total		$	29,722	$	29,237	$	245		$	(492	)

(1)

During the three months ended March 31, 2026 and 2025, dividends from the investments in RCT I's and RCT II's common shares in the amounts of $31,000 and $33,000, 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.