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Operating Segments (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Profit by Reportable segment | The following table presents our reportable segments for the three and nine months ended September 30, 2021 and 2020:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Multifamily Segment |  |  |  |  |  |  |
Revenues | $ | 3,703 |  |  | $ | 3,685 |  |  | $ | 11,068 |  |  | $ | 10,943 |
Operating expenses | (2,072) |  |  | (2,413) |  |  | (6,306) |  |  | (6,466) |
Profit from segment | 1,631 |  |  | 1,272 |  |  | 4,762 |  |  | 4,477 |
Commercial Segment |  |  |  |  |  |  |
Revenues | 5,925 |  |  | 7,769 |  |  | 19,115 |  |  | 23,518 |
Operating expenses | (3,538) |  |  | (3,975) |  |  | (10,194) |  |  | (12,041) |
Profit from segment | 2,387 |  |  | 3,794 |  |  | 8,921 |  |  | 11,477 |
Total profit from segments | $ | 4,018 |  |  | $ | 5,066 |  |  | $ | 13,683 |  |  | $ | 15,954 |
Reconciliation of Revenue from Segments to Consolidated | The table below reflects the reconciliation of total profit from segments to net income for the three and nine months ended September 30, 2021 and 2020:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Total profit from segments | $ | 4,018 |  |  | $ | 5,066 |  |  | $ | 13,683 |  |  | $ | 15,954 |
Other non-segment items of income (expense) |  |  |  |  |  |  |
Depreciation | (2,935) |  |  | (3,526) |  |  | (9,473) |  |  | (10,338) |
General and administrative | (3,698) |  |  | (1,997) |  |  | (12,799) |  |  | (7,958) |
Advisory fee to related party | (3,419) |  |  | (2,329) |  |  | (11,594) |  |  | (7,055) |
Other income | 6,128 |  |  | 5,421 |  |  | 3,242 |  |  | 5,347 |
Interest income | 866 |  |  | 483 |  |  | 17,388 |  |  | 16,459 |
Interest expense | (7,057) |  |  | (7,622) |  |  | (22,476) |  |  | (26,295) |
(Loss) gain on foreign currency transaction | (1,639) |  |  | (1,470) |  |  | 1,185 |  |  | 774 |
Loss on extinguishment of debt | (1,451) |  |  | — |  |  | (1,451) |  |  | — |
Income (losses) from unconsolidated joint ventures | 3,543 |  |  | 337 |  |  | 11,451 |  |  | (642) |
Gain on sales or write-down of assets | 31,312 |  |  | 15,325 |  |  | 24,265 |  |  | 24,802 |
Income tax provision | (605) |  |  | (50) |  |  | 1,196 |  |  | (346) |
Net income | $ | 25,063 |  |  | $ | 9,638 |  |  | $ | 14,617 |  |  | $ | 10,702 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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