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Investments in Non-Consolidated Entities | 3 Months Ended
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Mar. 31, 2025
Noncontrolling Interest [Abstract] |
Investments in Non-Consolidated Entities | Investments in Non-Consolidated Entities Below is a schedule of the Company's investments in non-consolidated entities:
| Percentage Ownership at |  | Investment Balance as of |  | Equity in earnings (losses) of non-consolidated entities
Investment | March 31, 2025 |  | March 31, 2025 |  | December 31, 2024 |  | March 31, 2025 |  | March 31, 2024
NNN MFG Cold JV L.P. ("MFG Cold JV")(1) | 20% |  | $ | 9,645 |  |  | $ | 10,428 |  |  | $ | (763) |  |  | $ | (990) |
NNN Office JV L.P. ("NNN JV")(2) | 20% |  | 15,062 |  |  | 15,189 |  |  | (127) |  |  | (173) |
Etna Park 70, LLC(3) | 90% |  | 9,901 |  |  | 9,732 |  |  | (49) |  |  | (70) |
Etna Park East LLC(4) | 90% |  | 2,346 |  |  | 2,360 |  |  | (42) |  |  | (48) |
Lombard Street Lots, LLC (5) | 44.1% |  | 2,310 |  |  | 2,309 |  |  | 1 |  |  | — |
|  |  | $ | 39,264 |  |  | $ | 40,018 |  |  | $ | (980) |  |  | $ | (1,281) |
(1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. (2) NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) The Company ceased to consolidate the operations of Lombard Street Lots, LLC in 2024. Lombard Street Lots, LLC ground leases a parcel of land to a parking operator. The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments for the three months ended March 31, 2025 and 2024 were $970 and $1,044, respectively.

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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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