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Assets and Liabilities of Disposal Group Held for Sale | 9 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities of Disposal Group Held for Sale | 9. Assets and Liabilities of Disposal Group Held for Sale In September 2022, the Company announced a repositioning of its business through the opportunistic disposition over time of the Company's joint venture equity investments in multi-family properties and reallocation of its capital away from such assets to its targeted assets. As of September 30, 2022, the Company determined that certain joint venture equity investments met the criteria to be classified as held for sale, transferred either the assets and liabilities of the respective Consolidated VIEs or its equity investment in the joint venture entity to assets and liabilities of disposal group held for sale in the accompanying condensed consolidated balance sheets and recognized no loss. The following table presents the carrying values of the major classes of assets and liabilities of disposal group held for sale as of September 30, 2022 (dollar amounts in thousands):
Cash and cash equivalents (1) |  | $ | 15,200 |
Equity investments |  | 9,936 |
Real estate, net (1) |  | 1,072,742 |
Other assets (1) |  | 49,532 |
Total assets of disposal group held for sale |  | $ | 1,147,410 |
Mortgages payable on real estate |  | $ | 854,656 |
Other liabilities |  | 20,920 |
Total liabilities of disposal group held for sale (1) |  | $ | 875,576 |
(1)Certain assets and liabilities of the disposal group held for sale are in Consolidated VIEs because the Company is the primary beneficiary. Also included in the disposal group held for sale are non-controlling interests in Consolidated VIEs in the amount of $24.2 million as of September 30, 2022. Real estate, net included in assets of disposal group held for sale is recorded at the lower of the net carrying amount of the assets or the estimated fair value, net of selling costs. Fair value for real estate, net was based upon a discounted cash flow analysis using property financial information and assumptions regarding market rent, revenue and expense growth, capitalization rates and return rates. See Note 15 for descriptions of valuation methodologies utilized for other classes of assets and liabilities of disposal group held for sale. The following table presents the pretax losses of the disposal group held for sale for the three and nine months ended September 30, 2022 and 2021, respectively (dollar amounts in thousands):
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Pretax loss of disposal group held for sale |  | $ | (2,648) |  |  | $ | (4,431) |  |  | $ | (50,621) |  |  | $ | (4,431) |
Pretax loss of disposal group attributable to non-controlling interest in Consolidated VIEs |  | 248 |  |  | 374 |  |  | 5,313 |  |  | 374 |
Pretax loss of disposal group attributable to Company's common stockholders |  | $ | (2,400) |  |  | $ | (4,057) |  |  | $ | (45,308) |  |  | $ | (4,057) |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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