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Investment In Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | The following table summarizes the statements of operations of the Great Park Venture for the nine months ended September 30, 2023 and 2022 (in thousands):
| Nine Months Ended September 30,
| 2023 |  | 2022
Land sale and related party land sale revenues | $ | 372,472 |  |  | $ | 39,020 |
Home sale revenues | — |  |  | 40,475 |
Cost of land sales | (165,749) |  |  | (15,118) |
Cost of home sales | — |  |  | (30,784) |
Other costs and expenses | (37,204) |  |  | (53,251) |
Net income (loss) of Great Park Venture | $ | 169,519 |  |  | $ | (19,658) |
The Company’s share of net income (loss) | $ | 63,570 |  |  | $ | (7,372) |
Basis difference (amortization) accretion, net | (10,498) |  |  | 1,738 |
Equity in earnings (loss) from Great Park Venture | $ | 53,072 |  |  | $ | (5,634) |
The following table summarizes the balance sheet data of the Great Park Venture and the Company’s investment balance as of September 30, 2023 and December 31, 2022 (in thousands):
| September 30, 2023 |  | December 31, 2022
Inventories | $ | 435,499 |  |  | $ | 605,893 |
Cash and cash equivalents | 150,555 |  |  | 149,326 |
Contract assets, receivable and other assets | 165,076 |  |  | 43,955 |
Total assets | $ | 751,130 |  |  | $ | 799,174 |
Accounts payable and other liabilities | $ | 182,112 |  |  | $ | 156,085 |
Redeemable Legacy Interests | 40,705 |  |  | 66,254 |
Capital (Percentage Interest) | 528,313 |  |  | 576,835 |
Total liabilities and capital | $ | 751,130 |  |  | $ | 799,174 |
The Company’s share of capital in Great Park Venture | $ | 198,118 |  |  | $ | 216,313 |
Unamortized basis difference | 62,215 |  |  | 72,713 |
The Company’s investment in the Great Park Venture | $ | 260,333 |  |  | $ | 289,026 |
The following table summarizes the statements of operations of the Gateway Commercial Venture for the nine months ended September 30, 2023 and 2022 (in thousands):
| Nine Months Ended September 30,
| 2023 |  | 2022
Rental revenues | $ | 6,329 |  |  | $ | 6,248 |
Rental operating and other expenses | (2,875) |  |  | (2,147) |
Depreciation and amortization | (2,982) |  |  | (2,966) |
Interest expense | (1,829) |  |  | (1,006) |
Net (loss) income of Gateway Commercial Venture | $ | (1,357) |  |  | $ | 129 |
Equity in (loss) earnings from Gateway Commercial Venture | $ | (1,018) |  |  | $ | 97 |
The following table summarizes the balance sheet data of the Gateway Commercial Venture and the Company’s investment balance as of September 30, 2023 and December 31, 2022 (in thousands):
| September 30, 2023 |  | December 31, 2022
Real estate and related intangible assets, net | $ | 79,811 |  |  | $ | 82,797 |
Cash and restricted cash | 5,843 |  |  | 4,244 |
Other assets | 3,468 |  |  | 4,588 |
Total assets | $ | 89,122 |  |  | $ | 91,629 |
Notes payable, net | $ | 28,902 |  |  | $ | 29,418 |
Other liabilities | 7,317 |  |  | 7,951 |
Members’ capital | 52,903 |  |  | 54,260 |
Total liabilities and capital | $ | 89,122 |  |  | $ | 91,629 |
The Company’s investment in the Gateway Commercial Venture | $ | 39,677 |  |  | $ | 40,695 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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