Summary combined financial information for the Company’s investment in the unconsolidated real estate fund at March 31, 2026 and December 31, 2025, and for the three months ended March 31, 2026 and 2025, is summarized below (amounts in thousands): | | | | | | | | | March 31, | | December 31, | Balance Sheet | | 2026 | | 2025 | Investments | | $ | 221,962 | | $ | 220,051 | Cash and cash equivalents | | | 4,896 | | | 7,359 | Receivables and other assets | | | 3,225 | | | 3,072 | Total assets | | $ | 230,083 | | $ | 230,482 | | | | | | | | Liabilities | | $ | 2,874 | | $ | 10,394 | Partners’ capital | | | 227,106 | | | 219,985 | Non-controlling interest | | | 103 | | | 103 | Total liabilities and partners’ capital | | $ | 230,083 | | $ | 230,482 |
| | | | | | | | | Three Months Ended | | | March 31, | Operating Statement | | | 2026 | | | 2025 | Investment income | | $ | 2,940 | | $ | 2,546 | Expenses | | | (605) | | | (435) | Net investment income | | | 2,335 | | | 2,111 | | | | | | | | Net unrealized gain on investments | | | 526 | | | 174 | Net increase from non-controlling interest | | | — | | | 3 | Net increase in partners’ capital | | $ | 2,861 | | $ | 2,288 |
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