XML 54 R46.htm IDEA: XBRL DOCUMENT v3.22.1
Basis of Presentation and Principles of Consolidation (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Real estate      
Real estate, at cost [1] $ 113,679 $ 113,510  
Less: accumulated depreciation [1] (22,245) (21,360)  
Real estate, net [1] 91,434 92,150  
Land and development, net [1] 277,421 286,810  
Cash and cash equivalents 1,500,203 [1] 339,601 [1] $ 193,852
Accrued interest and operating lease income receivable, net [1] 1,666 1,813  
Deferred operating lease income receivable, net [1] 3,046 3,159  
Deferred expenses and other assets, net [1] 97,682 100,434  
Total assets [1] 4,084,051 4,840,534  
LIABILITIES      
Accounts payable, accrued expenses and other liabilities [1] 198,886 236,732  
Liabilities associated with real estate held for sale and classified as discontinued operations 15,963 968,419  
Debt obligations, net [1] 2,084,252 2,572,174  
Total liabilities [1] 2,299,101 3,777,328  
Carrying value of investment [1] 1,526,019 1,297,281  
Consolidated VIEs      
Real estate      
Real estate, at cost 93,592 93,477  
Less: accumulated depreciation (15,761) (14,987)  
Real estate, net 77,831 78,490  
Real estate and other assets available and held for sale and classified as discontinued operations.   886,845  
Land and development, net 168,458 176,833  
Cash and cash equivalents 730,820 23,908  
Accrued interest and operating lease income receivable, net 541    
Deferred operating lease income receivable, net 5 3  
Deferred expenses and other assets, net 5,371 5,001  
Total assets 983,026 1,171,081  
LIABILITIES      
Accounts payable, accrued expenses and other liabilities 28,529 24,744  
Liabilities associated with real estate held for sale and classified as discontinued operations   493,739  
Total liabilities 28,529 $ 518,483  
Unconsolidated VIEs      
LIABILITIES      
Carrying value of investment 58,700    
Variable interest entity unfunded commitment $ 2,300    
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).