v3.26.1
Liabilities for Estimated Costs in Excess of Estimated Receipts During Liquidation - Schedule of Change in Liabilities for Estimated Costs in Excess of Estimated Receipts during Liquidation (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Feb. 01, 2026
Liquidation Basis Of Accounting [Line Items]    
Liabilities for estimated costs in excess of estimated receipts during liquidation $ 104,052  
Liquidation Basis [Member]    
Liquidation Basis Of Accounting [Line Items]    
Estimated net inflows from real estate [1] 36,623 $ 43,692
Interest income 2,505 3,828
Total estimated assets 39,128 47,520
General and administrative expenses (17,340) (22,854)
Interest expense (26,829) (32,773)
Capital expenditures (1,028) (2,762)
Capital expenditures for active construction (58,251) (72,821) [2]
Distributions and returns to noncontrolling interests (5,727) (7,674)
Liquidation transaction costs (31,684) (51,600) [3]
Income tax (700) (326)
Other estimated (costs), net of receipts (1,621) (2,384)
Total estimated liabilities (143,180) (193,194)
Liabilities for estimated costs in excess of estimated receipts during liquidation (104,052) $ (145,674)
Liquidation Basis [Member] | Revenue Recognized / Expense Incurred [Member]    
Liquidation Basis Of Accounting [Line Items]    
Estimated net inflows from real estate [1] (7,069)  
Interest income (1,323)  
Total estimated assets (8,392)  
General and administrative expenses 5,514  
Interest expense 5,944  
Capital expenditures 1,734  
Capital expenditures for active construction 14,570  
Distributions and returns to noncontrolling interests 1,947  
Liquidation transaction costs 19,916  
Income tax (374)  
Other estimated (costs), net of receipts 763  
Total estimated liabilities 50,014  
Liabilities for estimated costs in excess of estimated receipts during liquidation $ 41,622  
[1] Estimated net inflows from real estate include estimated future rental and other property revenues during liquidation less estimated future property operating expenses during liquidation
[2] Capital expenditures for our one multifamily development project under construction in Miami, Florida is primarily funded through a construction loan and preferred equity draws. Our estimated future capital expenditures exclude certain commitments we expect will not be incurred prior to the sale of our interest in the active development.
[3] Liquidation transaction costs primarily include disposal costs related to the sale of the Company's assets, severance expenses, and advisory expenses related to the Plan of Sale and Liquidation.