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Operating Segments (Tables)

9 Months Ended

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.

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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.

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