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Assets and Liabilities of Disposal Group Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2025
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, 2025 and December 31, 2024, respectively (dollar amounts in thousands):
June 30, 2025December 31, 2024
Cash and cash equivalents (1)
$1,395 $2,461 
Equity investments500 — 
Real estate, net (1)
106,485 111,032 
Other assets (1)
3,120 5,120 
Total assets of disposal group held for sale
$111,500 $118,613 
Mortgages payable on real estate, net (2)
$89,422 $93,370 
Other liabilities2,729 3,695 
Total liabilities of disposal group held for sale (1)
$92,151 $97,065 

(1)Certain 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 were in default on a mortgage payable in the amount of $121.2 million. The events of default included 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. During the year ended December 31, 2024, the Company sold its joint venture equity investments in these entities, which resulted in the de-consolidation of the related mortgages payable as of December 31, 2024.
The following table presents the pretax losses of the disposal group held for sale as of June 30, 2025 for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,
2025202420252024
Pretax loss of disposal group held for sale
$(3,878)$(12,587)$(7,041)$(60,532)
Pretax loss of disposal group attributable to non-controlling interest in Consolidated VIEs
266 1,301 559 6,138 
Pretax loss of disposal group attributable to Company's common stockholders
$(3,612)$(11,286)$(6,482)$(54,394)