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INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Company’s Investments in Unconsolidated Joint Ventures | The following table summarizes the Company’s investments in unconsolidated joint ventures as of June 30, 2025 and December 31, 2024 (dollars in thousands):
|  | Date of Investment |  | Ownership Interest |  | Investment at
Joint Venture |  |  |  | June 30, 2025 |  | December 31, 2024
Embassy Suites at Eddy Street Commons(1) |  | December 2017 |  | 35 | % |  | $ | 9,007 |  |  | $ | 9,514 |
Nuveen Portfolio Joint Venture(2) |  | June 2018 |  | 20 | % |  | 5,935 |  |  | 5,951 |
Glendale Multifamily Joint Venture(3) |  | May 2020 |  | 11.5 | % |  | 405 |  |  | 536 |
The Corner – IN Joint Venture(4) |  | September 2021 |  | 50 | % |  | 1,967 |  |  | 1,010 |
Legacy West Joint Venture |  | April 2025 |  | 52 | % |  | 248,280 |  |  | — |
GIC Portfolio Joint Venture |  | June 2025 |  | 52 | % |  | 122,733 |  |  | — |
Other investments |  |  |  |  |  | 2,500 |  |  | 2,500 |
|  |  |  |  |  | $ | 390,827 |  |  | $ | 19,511 |
(1)The Company formed a joint venture with an unrelated third party to develop and own an Embassy Suites hotel next to Eddy Street Commons, our operating retail property at the University of Notre Dame. (2)The Company formed a joint venture with Nuveen Real Estate, formerly known as TH Real Estate, and sold three properties (Livingston Shopping Center, Plaza Volente and Tamiami Crossing) to the joint venture. The Company is the operating member of the joint venture and earns fees for providing property management and leasing services. (3)The Company formed a joint venture with an unrelated third party for the planned development of a multifamily project adjacent to Glendale Town Center, our operating retail property in the Indianapolis MSA. The Company’s partner is the operating member of the joint venture. (4)The Company formed a joint venture with an unrelated third party for the planned redevelopment of The Corner in the Indianapolis MSA into a mixed-use, multifamily, and retail project. During the three months ended March 31, 2025, we completed major development construction activities at The Corner – IN and reclassified the property from active development into our operating portfolio in March 2025.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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