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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2024
Summary of Reconciliation of Redeemable Noncontrolling Interests in Real Estate Partnerships | The following table shows changes in our redeemable noncontrolling interests in consolidated real estate partnerships from December 31, 2023 to September 30, 2024 (in thousands):
|  | 2024 |
Balance at Beginning of Period |  | $ | 171,632 |
Contributions |  |  | 1,390 |
Distributions |  |  | (6,289 | )
Net income |  |  | 10,817 |
Other (1) |  |  | (2,241 | )
Balance at September 30, 2024 |  | $ | 175,309 |
(1) In September 2024, we secured a $55.5 million preferred equity commitment from a third-party for the development of a luxury water-front rental development in Miami, Florida, as further discussed in Note 6. Costs incurred were treated as a discount to Redeemable noncontrolling interests in consolidated real estate partnerships in accordance with GAAP.
Summary of Other Assets | Other assets were comprised of the following amounts as of September 30, 2024 and December 31, 2023 (in thousands):
| September 30, 2024 |  |  | December 31, 2023 |
Other investments | $ | 17,464 |  |  | $ | 65,066 |
Deferred costs, deposits, and other |  | 15,417 |  |  |  | 9,374 |
Prepaid expenses and real estate taxes |  | 10,863 |  |  |  | 14,855 |
Interest rate contracts (1) |  | 1,694 |  |  |  | 5,255 |
Unconsolidated real estate partnerships (2) |  | 20,934 |  |  |  | 23,125 |
Intangible assets, net |  | 13,377 |  |  |  | 13,494 |
Corporate fixed assets |  | 10,534 |  |  |  | 10,669 |
Accounts receivable, net of allowances of $218 and $373 as of September 30, 2024 and December 31, 2023, respectively |  | 7,896 |  |  |  | 5,178 |
Deferred tax assets |  | 4,714 |  |  |  | 2,391 |
Due from affiliates |  | 284 |  |  |  | 434 |
Total other assets, net | $ | 103,177 |  |  | $ | 149,841 |
(1) We account for our Interest rate contracts as non-designated hedges. (2) See Note 5 for further information regarding the nonrecurring fair value measurement of an unconsolidated real estate partnership during the three months ended September 30, 2024.
Realized and Unrealized Gains (Losses) on Equity Investments and Reduction in the Carrying Value of Other investments Included in Other Assets | The non-cash impairment is reflected in Realized and unrealized gains (losses) on equity investments in our Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024, and as a reduction in the carrying value of Other investments included in Other assets, net in our Condensed Consolidated Balance Sheets as of September 30, 2024.
|  | As of September 30, 2024 |  |  | As of December 31, 2023 |
Equity ownership in IQHQ under measurement alternative: |  |  |  |  |  |
Initial cost of remaining balance |  | $ | 39,185 |  |  | $ | 39,185 |
Cumulative upward adjustments |  |  | 20,501 |  |  |  | 20,501 |
Cumulative impairment |  |  | (46,972 | ) |  |  | — |
Total carrying value |  | $ | 12,714 |  |  | $ | 59,686 |

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- Definition Realized and unrealized gains (losses) on equity investments and reduction in the carrying value of other investments included in other assets. + References No definition available. + Details
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- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
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- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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