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Operating Segments
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Operating Segments Operating SegmentsOur segments are based on the internal reporting that we review for operational decision-making purposes. We operate in two reportable segments: (i) the acquisition, development, ownership and management of multifamily properties and (ii) the acquisition, ownership and management of commercial properties. The services for our multifamily segment include rental of apartments and other tenant services, including parking and storage space rental. Asset information by segment is not reported because we do not use this measure to assess performance or make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, advisory fees, interest income and interest expense are not included in segment profit as our internal reporting addresses these items on a corporate level.
The following table presents our reportable segments for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Multifamily Segment
Revenues$7,658 $2,945 $15,031 $6,174 
Operating expenses(4,478)(1,708)(8,186)(3,429)
Profit from segment3,180 1,237 6,845 2,745 
Commercial Segment
Revenues3,731 4,314 7,367 8,566 
Operating expenses(2,553)(2,104)(4,951)(4,411)
Profit from segment1,178 2,210 2,416 4,155 
Total profit from segments$4,358 $3,447 $9,261 $6,900 
The table below reflects the reconciliation of total profit from segments to net income for the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Total profit from segments$4,358 $3,447 $9,261 $6,900 
Other non-segment items of income (expense)
Depreciation and amortization(3,200)(2,298)(6,302)(4,647)
General and administrative(3,684)(2,194)(6,845)(4,914)
Advisory fee to related party(2,183)(2,858)(4,588)(6,043)
Other income850 870 1,529 1,176 
Interest income7,898 7,625 16,193 12,902 
Interest expense(2,480)(4,595)(5,620)(9,257)
Gain on foreign currency transaction22 14,132 993 17,904 
Loss on early extinguishment of debt(1,710)— (1,710)(1,639)
Income from unconsolidated joint ventures293 2,048 2,712 7,242 
Gain on sales or write-down of assets188 3,893 188 15,041 
Income tax provision(49)(40)(1,289)(68)
Net income$303 $20,030 $4,522 $34,597