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v3.23.1

Equity Investments (Details) $ in Thousands | 1 Months Ended | 3 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Jan. 31, 2022 USD ($) lease | Dec. 31, 2021 USD ($) | Jun. 30, 2021 agreement | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Feb. 28, 2022 USD ($) | Nov. 30, 2021 USD ($)
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value | [1] |  |  |  | $ 243,490 |  | $ 180,388 |  |  |
Earnings from equity method investments |  |  |  |  | $ 2,262 | $ 2,276 |  |  |  |
iStar Inc. |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Value of land acquired |  |  |  |  |  |  |  |  |  | $ 33,300
Number of agreements entered into to acquire land and related Ground Lease | agreement |  |  |  | 2 |  |  |  |  |  |
iStar Inc. | Ground Lease Plus Fund |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Gain (loss) from sale of Ground Lease |  | $ 500 | $ 0 |  |  |  |  |  |  |
Number of Ground Leases sold | lease |  | 2 |  |  |  |  |  |  |  |
425 Park Avenue | Joint Venture |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Ownership percentage |  |  |  |  | 54.80% |  |  |  |  |
32 Old Slip |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Ownership percentage |  |  |  | 29.20% |  |  |  |  |  |
Ground Lease Plus Fund |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Basis difference in equity investment to be amortized |  |  |  |  | $ 19,700 |  |  |  |  |
Weighted average remaining term |  |  |  |  | 102 years 7 months 6 days |  |  |  |  |
Ownership percentage |  |  |  |  |  | 53.00% |  |  |  |
Leasehold Loan Fund |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Basis difference in equity investment to be amortized |  |  |  |  | $ 15,000 |  |  |  |  |
Weighted average remaining term |  |  |  |  | 3 years 8 months 12 days |  |  |  |  |
Ownership percentage |  |  |  |  | 53.00% |  |  |  |  |
Commitment to provide loan to ground lessee |  |  |  |  |  |  |  | $ 105,000 | $ 130,000 |
Real estate equity investments |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value |  |  |  |  | $ 243,490 |  | 180,388 |  |  |
Earnings from equity method investments |  |  |  |  | 2,262 | $ 2,276 |  |  |  |
Real estate equity investments | 425 Park Avenue |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value |  |  |  |  | 133,679 |  | 133,118 |  |  |
Earnings from equity method investments |  |  |  |  | 835 | 851 |  |  |  |
Real estate equity investments | 32 Old Slip |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value |  |  |  |  | 48,564 |  | $ 47,270 |  |  |
Earnings from equity method investments |  |  |  |  | 1,427 | $ 1,425 |  |  |  |
Real estate equity investments | Ground Lease Plus Fund |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value |  |  |  |  | 46,471 |  |  |  |  |
Real estate equity investments | Leasehold Loan Fund |  |  |  |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |  |  |  |
Carrying value |  |  |  |  | $ 14,776 |  |  |  |  |
[1] | Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).

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