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Operating Segments (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022 and 2021:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Multifamily Segment
Revenues			$	2,850					$	3,703					$	9,024					$	11,068
Operating expenses			(1,966)						(2,072)						(5,395)						(6,306)
Profit from segment			884						1,631						3,629						4,762
Commercial Segment
Revenues			4,720						5,925						13,286						19,115
Operating expenses			(2,735)						(3,538)						(7,146)						(10,194)
Profit from segment			1,985						2,387						6,140						8,921
Total profit from segments			$	2,869					$	4,018					$	9,769					$	13,683

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, 2022 and 2021:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Total profit from segments			$	2,869					$	4,018					$	9,769					$	13,683
Other non-segment items of income (expense)
Depreciation and amortization			(2,193)						(2,935)						(6,840)						(9,473)
General and administrative			(3,042)						(3,698)						(7,956)						(12,799)
Advisory fee to related party			(1,571)						(3,419)						(7,614)						(11,594)
Other income			749						866						1,925						3,242
Interest income			9,482						6,128						25,683						17,388
Interest expense			(6,491)						(7,057)						(19,047)						(22,476)
Gain (loss) on foreign currency transaction			1,533						(1,639)						19,437						1,185
Loss on early extinguishment of debt			(1,166)						(1,451)						(2,805)						(1,451)
Income from unconsolidated joint ventures			464,143						3,543						471,385						11,451
Gain on sales or write-down of assets			1,539						31,312						16,580						24,265
Income tax provision			(81,548)						(605)						(81,616)						1,196
Net income			$	384,304					$	25,063					$	418,901					$	14,617

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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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