The following table presents the carrying value of each investment reflected on the Company's unaudited Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025:


	March 31, 2026				December 31, 2025
Investment	Carrying Value		Ownership Percentage		Carrying Value		Ownership Percentage
	(in thousands)				(in thousands)
Shem Creek Capital Fund V LLC	$	774	7.6	%	$	867	7.6	%
Shem Creek Capital Fund VI LLC	1,506		9.9	%	3,071		9.9	%
Shem Creek Capital Fund VII LLC	4,326		13.0	%	3,605		13.0	%
Shem Creek Sachem V LLC	1,643		49.0	%	1,736		49.0	%
Shem Creek Sachem VI LLC	10,561		44.6	%	13,403		45.5	%
Shem Creek Sachem 100 LLC	8,925		67.7	%	8,950		67.6	%
Shem Creek Capital LLC	5,000		20.0	%	5,000		20.0	%
Total Shem LLC Investments	$	32,735			$	36,632
Cordo CLT Investors LLC	$	2,500	7.2	%	$	2,500	7.2	%
Total investments in LLC’s	$	35,235			$	39,132

For the three months ended March 31, 2026, the Shem LLC investments generated $0.9 million of interest income and $0.1 million of other income. For the three months ended March 31, 2025, the Shem LLC investments generated $1.9 million of interest income and $0.1 million of other income.

In September 2024, the Company, through its wholly owned subsidiary Urbane Capital, LLC, acquired a member's interest in Cordo CLT Investors LLC for a one time contribution of $2.5 million. As of March 31, 2026 and December 31, 2025, the Company held 7.2% of total common member equity. This entity was formed for the sole purpose of developing a commercial multifamily property in Charlotte, North Carolina. The Company anticipates the project construction to be completed by the end of 2026, with monetization of the Company's investment in the first half of 2028 upon rent stabilization of the project.