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Investment In Unconsolidated Entities (Tables)
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
The following table summarizes the statements of operations of the Great Park Venture for the nine months ended September 30, 2025 and 2024 (in thousands):
Nine Months Ended September 30,
20252024
Land sale and related party land sale revenues$630,717 $293,593 
Cost of land sales
(151,121)(67,062)
Other costs and expenses
(23,305)(95,068)
Net income of Great Park Venture$456,291 $131,463 
The Company’s share of net income$171,109 $49,299 
Basis difference amortization, net(14,015)(4,081)
Equity in earnings from Great Park Venture$157,094 $45,218 
The following table summarizes the balance sheet data of the Great Park Venture and the Company’s investment balance as of September 30, 2025 and December 31, 2024 (in thousands):
September 30, 2025December 31, 2024
Inventories
$187,606 $274,738 
Cash and cash equivalents
47,812 118,256 
Contract assets, receivables and other assets, net166,566 169,604 
Total assets
$401,984 $562,598 
Accounts payable and other liabilities
$182,681 $282,277 
Capital (Percentage Interest)
219,303 280,321 
Total liabilities and capital
$401,984 $562,598 
The Company’s share of capital in Great Park Venture
$82,238 $105,121 
Unamortized basis difference
32,511 46,526 
The Company’s investment in the Great Park Venture
$114,749 $151,647 
The following table summarizes the statements of operations of the Gateway Commercial Venture for the nine months ended September 30, 2025 and 2024 (in thousands):
Nine Months Ended September 30,
20252024
Rental revenues$— $7,002 
Rental operating and other expenses(291)(2,735)
Depreciation and amortization — (3,011)
Interest income1,661 — 
Interest expense— (2,078)
Net income (loss) of Gateway Commercial Venture$1,370 $(822)
Equity in earnings (loss) from Gateway Commercial Venture$1,028 $(617)
The following table summarizes the balance sheet data of the Gateway Commercial Venture and the Company’s investment balance as of September 30, 2025 and December 31, 2024 (in thousands):
September 30, 2025December 31, 2024
Cash$1,622 $257 
Note receivable and other assets43,681 43,667 
Total assets$45,303 $43,924 
Other liabilities$9 $— 
Members’ capital45,294 43,924 
Total liabilities and capital$45,303 $43,924 
The Company’s investment in the Gateway Commercial Venture$33,971 $32,943