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Assets and Liabilities of Disposal Group Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets and Liabilities of Disposal Group Held for Sale
The following table presents the carrying values of the major classes of assets and liabilities of disposal group held for sale as of June 30, 2024 and December 31, 2023, respectively (dollar amounts in thousands):

June 30, 2024December 31, 2023
Cash and cash equivalents
$5,108 $5,676 
Real estate, net
355,984 407,834 
Other assets
12,446 12,507 
Total assets of disposal group held for sale (1)
$373,538 $426,017 
Mortgages payable on real estate, net (2)
$330,400 $378,386 
Other liabilities9,738 7,638 
Total liabilities of disposal group held for sale (1)
$340,138 $386,024 

(1)Assets and liabilities of the disposal group held for sale are in Consolidated VIEs because the Company is the primary beneficiary.
(2)As of June 30, 2024, multi-family properties owned by two joint venture equity investments are in default on a mortgage payable in the amount of $121.2 million. The events of default include a breach of the loan document in failure to secure a replacement interest rate cap agreement and failure to pay $1.1 million of interest owed to the lender.
The following table presents the pretax losses of the disposal group held for sale as of June 30, 2024 for the three and six months ended June 30, 2024 and 2023, respectively (dollar amounts in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,
2024202320242023
Pretax (loss) income of disposal group held for sale
$(8,835)$(12,211)$(49,526)$(29,360)
Pretax loss (income) of disposal group attributable to non-controlling interest in Consolidated VIEs
771 (145)5,235 1,056 
Pretax loss of disposal group attributable to Company's common stockholders
$(8,064)$(12,356)$(44,291)$(28,304)