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Real Estate Properties (Tables) | 6 Months Ended
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Jun. 30, 2026
Real Estate [Abstract] |
Schedule of Real Estate Properties Owned | Real estate properties, consists of the following (dollars in thousands):
|  | June 30, 2026 |  | December 31, 2025
Land |  | $ | 74,246 |  |  | $ | 74,246 |
Building |  | 616,979 |  |  | 616,979 |
Building improvements |  | 41,816 |  |  | 38,410 |
Real estate properties |  | 733,041 |  |  | 729,635 |
Accumulated depreciation |  | (146,212) |  |  | (132,821) |
Total real estate properties, net |  | $ | 586,829 |  |  | $ | 596,814 |
A summary of real estate properties owned is as follows (dollars in thousands):
|  | December 31, 2025 Balance |  | Improvements |  | Depreciation |  |  |  | June 30, 2026 Balance
Multifamily |  | $ | 595,245 |  |  | $ | 3,406 |  |  | $ | (13,336) |  |  |  |  | $ | 585,315 |
Retail shopping center and other |  | 1,569 |  |  | — |  |  | (55) |  |  |  |  | 1,514 |
Total real estate properties |  | $ | 596,814 |  |  | $ | 3,406 |  |  | $ | (13,391) |  |  |  |  | $ | 586,829 |
At the indicated dates, real estate properties of the unconsolidated joint ventures consist of the following (dollars in thousands):
| June 30, 2026 |  | December 31, 2025
Land | $ | 54,272 |  |  | $ | 54,272 |
Building | 387,415 |  |  | 387,364 |
Building improvements | 19,425 |  |  | 17,562 |
Real estate properties | 461,112 |  |  | 459,198 |
Accumulated depreciation | (103,044) |  |  | (95,747) |
Total real estate properties, net | $ | 358,068 |  |  | $ | 363,451 |

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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2 + Details
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