Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Segment Reporting [Abstract] |
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| Schedule of Profit by Reportable Segment |
The following table presents our profit by reportable segment: | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2025 | | 2024 | | 2023 | | Residential Segment | | | | | | | Revenues | $ | 34,128 | | | $ | 34,103 | | | $ | 34,962 | | | Segment expenses | | | | | | | Property tax and insurance | (11,003) | | | (10,679) | | | (9,776) | | | Repairs and maintenance | (3,885) | | | (3,970) | | | (4,317) | | | Other property expenses | (4,416) | | | (3,603) | | | (3,656) | | | NOI from residential segment | 14,824 | | | 15,851 | | | 17,213 | | | Commercial Segment | | | | | | | Revenues | 14,932 | | | 12,967 | | | 14,943 | | | Segment expenses | | | | | | | Property tax and insurance | (2,740) | | | (3,204) | | | (4,266) | | | Repairs and maintenance | (1,323) | | | (1,293) | | | (1,228) | | | Other property expenses | (4,518) | | | (4,314) | | | (4,653) | | | NOI from commercial segment | 6,351 | | | 4,156 | | | 4,796 | | | Total NOI from segments | $ | 21,175 | | | $ | 20,007 | | | $ | 22,009 | |
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| Schedule of Reconciliation of Profit by Reportable Segment to Net Income (Loss) |
The following table reconciles NOI from reportable segments to net income (loss): | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2025 | | 2024 | | 2023 | | NOI from reportable segments | $ | 21,175 | | | $ | 20,007 | | | $ | 22,009 | | | Other non-segment items of income (expense) | | | | | | | Depreciation and amortization | (12,577) | | | (12,276) | | | (13,646) | | | General and administrative | (6,459) | | | (6,395) | | | (10,011) | | | Advisory fee to related party | (9,522) | | | (8,225) | | | (10,187) | | | Other income | 954 | | | 248 | | | 595 | | | Interest income | 14,637 | | | 19,973 | | | 26,847 | | | Interest expense | (6,825) | | | (7,838) | | | (9,502) | | | Gain on foreign currency transactions | — | | | — | | | 993 | | | Loss on early extinguishment of debt | (284) | | | — | | | (1,710) | | | Equity in income from unconsolidated joint ventures | 119 | | | 1,449 | | | 3,242 | | | Gain (loss) on real estate transactions | 19,988 | | | (23,989) | | | (1,923) | | | Income tax provision | (2,667) | | | 3,607 | | | (1,456) | | | Net income (loss) | $ | 18,539 | | | $ | (13,439) | | | $ | 5,251 | |
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| Schedule of Reconciliation of Segment Information to the Corresponding Amounts in the Consolidated Balance Sheets |
The table below reconciles the segment information to the corresponding amounts in the consolidated balance sheets: | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | | Segment assets | $ | 571,503 | | | $ | 523,792 | | | Real estate | 57,463 | | | 59,197 | | | Investments in unconsolidated joint ventures | 1,270 | | | 10,246 | | | Notes receivable | 142,439 | | | 138,349 | | | Receivable from related parties | 103,558 | | | 97,544 | | | Cash, short-term investments and other non-segment assets | 221,092 | | | 203,674 | | | Total assets | $ | 1,097,325 | | | $ | 1,032,802 | |
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