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Note 5 - Other Investments | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Other Real Estate Investments and Other Assets [Text Block] | 5. Other Investments The Company has provided capital to owners and developers of real estate properties and loans through its Preferred Equity program, which is included in Other investments on the Company’s Condensed Consolidated Balance Sheets. In addition, the Company has invested capital in structured investments which are primarily accounted for on the equity method of accounting. As of September 30, 2023, the Company’s other investments were $139.4 million, of which the Company’s net investment under the Preferred Equity program was $100.0 million. 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. As of September 30, 2023, the Company’s investment was $30.3 million.

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