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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES | 9 Months Ended
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Sep. 30, 2025
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES | NOTE 6 – INVESTMENT IN UNCONSOLIDATED JOINT VENTURES ​ On August 26, 2025, the Company and its joint venture partners sold the last two remaining unconsolidated joint venture properties in Savannah, Georgia for an aggregate of $4,614,000, net of closing costs. The Company’s 50% share of the gain from these sales was $991,000, which is recorded as Equity in earnings from sale of unconsolidated joint venture properties on the consolidated statements of income for the three and nine months ended September 30, 2025. ​ As of September 30, 2025 and December 31, 2024, the Company’s equity investment in these ventures totaled $203,000 and $2,101,000, respectively. The Company recorded equity in earnings of $24,000 and $100,000 for the three and nine months ended September 30, 2025, respectively, and equity in loss and earnings of $9,000 and $87,000 for the three and nine months ended September 30, 2024, respectively.

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