v3.26.1
Note 4 - Investments in Unconsolidated Real Estate - Schedule of Equity Method Investments in Real Estate Entities (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Mar. 31, 2026
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Number of units 33,898      
Cash and cash equivalents $ 22,513   $ 23,564 $ 19,491
Restricted Cash 24,184   24,058 $ 23,035
Other assets 45,078   45,711  
Investments in real estate 5,769,104   5,680,760  
Real Estate Investment, Development in Process, Net 67,814   60,116  
Total assets 6,091,687   6,021,750  
Accounts payable and accrued expenses 101,713   92,355  
Other liabilities 8,178   8,496  
Total liabilities 2,604,996   2,432,324  
Derecognition of investments in unconsolidated real estate entities 69,970   98,263  
Total liabilities and equity $ 6,091,687   $ 6,021,750  
Lakeline Station [Member]        
Number of units     378  
The Mustang [Member]        
Number of units   275    
Investments in Unconsolidated Real Estate Entities [Member]        
Number of units [1] 917      
Equity Method Investment, Carrying Value $ 69,970   $ 98,263  
Austin, Texas [Member] | Lakeline Station [Member]        
Number of units [1],[2] 0      
Equity Method Investment, Ownership Percentage [2] 0.00%      
Equity Method Investment, Carrying Value [2] $ 0   42,179  
Dallas, Texas [Member] | The Mustang [Member]        
Number of units [1],[3] 275      
Equity Method Investment, Ownership Percentage [3] 85.00%      
Equity Method Investment, Carrying Value [3] $ 31,036   30,578  
Charleston, South Carolina [Member] | Nexton Pine Hollow [Member]        
Number of units [1] 324      
Equity Method Investment, Ownership Percentage 90.00%      
Equity Method Investment, Carrying Value $ 29,892   22,097  
Indianapolis, Indiana [Member] | The Approach [Member]        
Number of units [1] 318      
Equity Method Investment, Ownership Percentage 66.60%      
Equity Method Investment, Carrying Value $ 9,042   $ 3,409  
Lakeline Station [Member]        
Cash and cash equivalents 41      
Restricted Cash 53      
Other assets 204      
Investments in real estate 28,708      
Real Estate Investment, Development in Process, Net 90,395      
Total assets 119,401      
Accounts payable and accrued expenses 4,394      
Other liabilities 49      
Mortgage loan (1) [4] 72,675      
Total liabilities 77,118      
Derecognition of investments in unconsolidated real estate entities 42,283      
Total liabilities and equity $ 119,401      
[1] Represents the total number of units after development is complete and each property is placed in service.
[2] On January 20, 2026, we acquired our joint venture partner's 10% membership interest and assumed full operational control and 100% equity ownership of the Tisdale at Lakeline Station property underlying this joint venture. We began consolidating the assets and liabilities of the property and its operating results effective January 20, 2026. As of December 31, 2025, we had a 90% interest in the 378-unit property underlying the joint venture.
[3] The Mustang is an operating property consisting of 275 total units. The property is currently being marketed for sale.
[4] The mortgage loan was repaid using proceeds from our unsecured revolver and paid off concurrently with acquiring our joint venture partner's 10% membership interest on January 20, 2026.