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BUSINESS SEGMENT DATA (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of operations in different segments

Information about the Company’s operations in different segments for the three months ended March 31, 2025 is as follows (in thousands):



		Income Properties			Management Services			Commercial Loans and Investments			Total
Revenues:
Income Properties		$	31,672		$	—		$	—		$	31,672
Management Fee Income			—			1,178			—			1,178
Interest Income From Commercial Loans and Investments			—			—			2,961			2,961
Total Revenues for Reportable Segments		$	31,672		$	1,178		$	2,961		$	35,811

Operating Expenses:
Income Properties		$	(8,891)		$	—		$	—		$	(8,891)
Total Revenues Less Direct Costs of Revenues		$	22,781		$	1,178		$	2,961		$	26,920
Provision for Impairment			—			—			—			—
Depreciation and Amortization - Real Estate			(14,346)			—			—			(14,346)
Total Revenues Less Operating Expenses for Reportable Segments		$	8,435		$	1,178		$	2,961		$	12,574
Gain on Disposition of Assets			—			—			—			—
Net Income From Operations for Reportable Segments		$	8,435		$	1,178		$	2,961		$	12,574

Reconciliation to Consolidated Net Income
General and Administrative Expenses												(4,683)
Investment and Other Income												575
Interest Expense												(6,136)
Depreciation and Amortization - Other												(18)
Net Loss Before Income Tax Expense											$	2,312
Income Tax Expense												(51)
Net Income Attributable to the Company											$	2,261

Information about the Company’s operations in different segments for the three months ended March 31, 2024 is as follows (in thousands):



		Income Properties			Management Services			Commercial Loans and Investments			Real Estate Operations			Total
Revenues:
Income Properties		$	24,623		$	—		$	—		$	—		$	24,623
Management Fee Income			—			1,105			—			—			1,105
Interest Income From Commercial Loans and Investments			—			—			1,351			—			1,351
Real Estate Operations			—			—			—			1,048			1,048
Total Revenues for Reportable Segments		$	24,623		$	1,105		$	1,351		$	1,048		$	28,127

Operating Expenses:
Income Properties		$	(6,753)		$	—		$	—		$	—		$	(6,753)
Real Estate Operations			—			—			—			(819)			(819)
Total Revenues Less Direct Costs of Revenues		$	17,870		$	1,105		$	1,351		$	229		$	20,555
Provision for Impairment			—			—			(48)			—			(48)
Depreciation and Amortization - Real Estate			(10,915)			—			—			—			(10,915)
Total Revenues Less Operating Expenses for Reportable Segments		$	6,955		$	1,105		$	1,303		$	229		$	9,592
Gain on Disposition of Assets			4,618			—			—			4,545			9,163
Net Income From Operations for Reportable Segments		$	11,573		$	1,105		$	1,303		$	4,774		$	18,755

Reconciliation to Consolidated Net Income
General and Administrative Expenses															(4,216)
Investment and Other Loss															(3,259)
Interest Expense															(5,529)
Depreciation and Amortization - Other															(16)
Net Income Before Income Tax Benefit														$	5,735
Income Tax Benefit															107
Net Income Attributable to the Company														$	5,842

Capital expenditures of each segment for the three months ended March 31, 2025 and 2024 are as follows (in thousands):


		March 31, 2025			March 31, 2024
Capital Expenditures:
Income Properties		$	80,864		$	73,403
Commercial Loans and Investments			1,431			6,575
Corporate and Other			12			9
Total Capital Expenditures		$	82,307		$	79,987

Identifiable assets of each segment as of March 31, 2025 and December 31, 2024 are as follows (in thousands):


		As of
		March 31, 2025			December 31, 2024
Identifiable Assets:
Income Properties		$	1,109,408		$	1,039,466
Management Services			1,497			1,481
Commercial Loans and Investments			105,690			105,763
Real Estate Operations			616			611
Corporate and Other			26,692			34,323
Total Assets		$	1,243,903		$	1,181,644