INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	9 Months Ended
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.

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

9 Months Ended

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.