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Investment in Unconsolidated Entities | 3 Months Ended
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Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Entities | INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES Unconsolidated Entities A summary of the Company’s investments in unconsolidated entities is as follows (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Rainwater Crossing Single-Family, LLC |  | $ | 27,381 |  |  | $ | 18,633 |
GBTM Sendera, LLC |  | 21,985 |  |  | 21,985 |
EJB River Holdings, LLC |  | 12,762 |  |  | 12,288 |
TMGB Magnolia Ridge, LLC |  | 9,506 |  |  | 7,006 |
BHome Mortgage, LLC |  | 669 |  |  | 670 |
Total investment in unconsolidated entities |  | $ | 72,303 |  |  | $ | 60,582 |
As of March 31, 2025 and December 31, 2024, the Company’s maximum exposure to loss from its investments in unconsolidated entities was $106.7 million and $95.1 million, respectively. The Company’s maximum exposure to loss was limited to its investments in the unconsolidated entities, except with regard to the Company’s remaining commitment to fund capital in Rainwater Crossing Single-Family, LLC of $11.9 million and $12.0 million as of March 31, 2025 and December 31, 2024, respectively. In addition, the Company has a completion guarantee up to $22.5 million on a revolving loan to fund the development activities of TMGB Magnolia Ridge, LLC. A summary of the unaudited condensed financial information of the unconsolidated entities that are accounted for by the equity method is as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
Assets: |  |  |
Cash | $ | 9,811 |  |  | $ | 7,334 |
Accounts receivable | 574 |  |  | 488 |
Bonds and notes receivable | 11,880 |  |  | 12,038 |
Inventory | 132,268 |  |  | 111,771 |
Other assets | 878 |  |  | 1,738 |
Total assets | $ | 155,411 |  |  | $ | 133,369 |
Liabilities: |  |  |
Accounts payable | $ | 8,337 |  |  | $ | 6,280 |
Accrued expenses and other liabilities | 1,922 |  |  | 1,369 |
Notes payable | 28,282 |  |  | 23,194 |
Total liabilities | $ | 38,541 |  |  | $ | 30,843 |
Owners’ equity: |  |  |
Green Brick | $ | 69,840 |  |  | $ | 58,312 |
Others | 47,030 |  |  | 44,214 |
Total owners’ equity | $ | 116,870 |  |  | $ | 102,526 |
Total liabilities and owners’ equity | $ | 155,411 |  |  | $ | 133,369 |
| Three Months Ended March 31,
| 2025 |  | 2024
Revenues | $ | 3,314 |  |  | $ | 29,739 |
Costs and expenses | 2,370 |  |  | 24,507 |
Net earnings of unconsolidated entities | $ | 944 |  |  | $ | 5,232 |
Company’s share in net earnings of unconsolidated entities | $ | 473 |  |  | $ | 2,592 |
Consolidated Entities The aggregated carrying amounts of the assets and liabilities of The Providence Group of Georgia LLC ( “TPG”) were $198.8 million and $173.7 million, respectively, as of March 31, 2025. As of December 31, 2024, TPG’s assets and liabilities were $201.5 million and $167.3 million, respectively. The noncontrolling interest attributable to the 50% minority interest owned by TPG was included as noncontrolling interests in the Company’s consolidated financial statements.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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