XML 54 R46.htm IDEA: XBRL DOCUMENT v3.22.2.2
Basis of Presentation and Principles of Consolidation (Details) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Real estate      
Real estate, at cost [1] $ 111,719 $ 113,510  
Less: accumulated depreciation [1] (22,575) (21,360)  
Real estate, net [1] 89,144 92,150  
Land and development, net [1] 248,246 286,810  
Cash and cash equivalents 1,335,722 [1] 339,601 [1] $ 298,886
Accrued interest and operating lease income receivable, net [1] 1,035 1,813  
Deferred operating lease income receivable, net [1] 2,842 3,159  
Deferred expenses and other assets, net [1] 50,044 100,434  
Total assets [1] 3,522,132 4,840,534  
LIABILITIES      
Accounts payable, accrued expenses and other liabilities [1] 140,876 236,732  
Liabilities associated with real estate held for sale and classified as discontinued operations [1],[2] 2,918 968,419  
Debt obligations, net [1] 1,680,708 2,572,174  
Total liabilities [1] 1,824,502 3,777,328  
Carrying value of investment [1] 1,605,268 1,297,281  
Consolidated VIEs      
Real estate      
Real estate, at cost 93,940 93,477  
Less: accumulated depreciation (17,277) (14,987)  
Real estate, net 76,663 78,490  
Real estate and other assets available and held for sale and classified as discontinued operations.   886,845  
Land and development, net 145,545 176,833  
Cash and cash equivalents 33,768 23,908  
Deferred operating lease income receivable, net 6 3  
Deferred expenses and other assets, net 6,420 5,001  
Total assets 262,402 1,171,081  
LIABILITIES      
Accounts payable, accrued expenses and other liabilities 25,078 24,744  
Liabilities associated with real estate held for sale and classified as discontinued operations 146 493,739  
Total liabilities 25,224 $ 518,483  
Unconsolidated VIEs      
LIABILITIES      
Carrying value of investment 55,300    
Variable interest entity unfunded commitment $ 4,900    
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] Refer to Note 3 - Net Lease Sale and Discontinued Operations.