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Note 3 - Real Estate - Disposition Activity (Details) - Disposition Activity Relating to Consolidated Operating Properties and Parcels [Member]
$ in Millions
6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Aggregate sales price/gross fair value (1) (2) [1],[2] $ 163.8 $ 43.3
Gain on sale of properties (3) [3] $ 52.4 $ 7.1
Number of properties sold 4 1
Number of parcels sold/(deconsolidated) (1) [1] 8 8
[1] During 2023, the Company contributed a land parcel and related entitlements, located in Admore, PA, into a preferred equity investment with a gross value of $19.6 million. As a result, the Company no longer consolidates this land parcel and has a non-controlling interest in this investment. See Footnote 5 of the Notes to the Company’s Condensed Consolidated Financial Statements for preferred equity investment disclosure.
[2] During 2023, the Company provided as a lender seller financing of $25.0 million related to the sale of an operating property located in Gresham, OR. See Footnote 9 of the Notes to the Company’s Condensed Consolidated Financial Statements for mortgage receivable loan disclosure.
[3] Before noncontrolling interests of $1.6 million and taxes of $1.5 million for the six months ended June 30, 2023.