v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Real estate $ 603,217 $ 602,431
Cash and cash equivalents 10,849 14,180
Restricted cash 11,237 15,233
Short-term investments 73,438 74,964
Notes receivable (including $64,835 and $67,349 at June 30, 2026 and December 31, 2025, respectively, from related parties) 139,974 142,439
Investment in unconsolidated joint ventures 1,270 1,270
Receivable from related party 104,305 103,558
Other assets (including $1,214 and $1,475 at June 30, 2026 and December 31, 2025, respectively, from related parties) 145,847 143,250
Total assets 1,090,137 1,097,325
Liabilities:    
Mortgages and other notes payable 218,028 214,367
Accounts payable and other liabilities (including $31 and $30 at June 30, 2026 and December 31, 2025, respectively, from related parties) 44,367 49,629
Accrued interest 4,297 3,811
Deferred revenue 9,791 9,791
Total liabilities 276,483 277,598
Shareholders' Equity:    
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 900,614 shares issued and outstanding 1,801 1,801
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,152,043 shares issued and outstanding 162 162
Additional paid-in capital 63,842 61,039
Retained earnings 552,841 554,402
Total shareholders' equity 618,646 617,404
Noncontrolling interests 195,008 202,323
Total equity 813,654 819,727
Total liabilities and equity $ 1,090,137 $ 1,097,325