Unconsolidated Affiliates (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Condensed Combined Financial Statement Information - Unconsolidated Affiliates

Condensed combined financial statement information of the unconsolidated affiliates is as follows:


	December 31, 2023			December 31, 2022
ASSETS:
Investment in real estate assets	$	2,010,269		$	1,971,348
Accumulated depreciation		(886,712	)		(829,574	)
		1,123,557			1,141,774
Developments in progress		17,261			10,914
Net investment in real estate assets		1,140,818			1,152,688
Other assets		200,289			170,756
Total assets	$	1,341,107		$	1,323,444
LIABILITIES:
Mortgage and other indebtedness, net	$	1,368,031		$	1,333,152
Other liabilities		45,577			33,419
Total liabilities		1,413,608			1,366,571
OWNERS' EQUITY (DEFICIT):
The Company		12,290			3,123
Other investors		(84,791	)		(46,250	)
Total owners' deficit		(72,501	)		(43,127	)
Total liabilities and owners’ deficit	$	1,341,107		$	1,323,444


	Year Ended December 31,
	2023		2022		2021
Total revenues	$	255,283	$	260,275	$	251,933
Net income (1)	$	38,434	$	137,454	$	58,596

(1)

The Successor Company's and the Predecessor Company's pro rata share of net income (loss) is included in equity in earnings (losses) of unconsolidated affiliates for each period presented in the accompanying consolidated statements of operations. The Company's pro rata share of net income was $11,865 and $19,796 for the Successor years ended December 31, 2023 and 2022, respectively. The Successor Company’s pro rata share of net income was $797 for the period from November 1, 2021 through December 31, 2021. The Predecessor Company’s pro rata share of net loss was $10,823 for the period from January 1, 2021 through October 31, 2021.