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Operating Segments (Tables)
9 Months Ended
Sep. 30, 2023
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, 2023 and 2022:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Multifamily Segment
Revenues$7,899 $2,850 $22,930 $9,024 
Operating expenses(4,811)(1,966)(12,997)(5,395)
Profit from segment3,088 884 9,933 3,629 
Commercial Segment
Revenues3,939 4,720 11,306 13,286 
Operating expenses(2,632)(2,735)(7,583)(7,146)
Profit from segment1,307 1,985 3,723 6,140 
Total profit from segments$4,395 $2,869 $13,656 $9,769 
Schedule of 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, 2023 and 2022:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Total profit from segments$4,395 $2,869 $13,656 $9,769 
Other non-segment items of income (expense)
Depreciation and amortization(3,313)(2,193)(9,615)(6,840)
General and administrative(1,579)(3,042)(8,424)(7,956)
Advisory fee to related party(2,295)(1,571)(6,883)(7,614)
Other income688 749 2,217 1,925 
Interest income9,008 7,035 25,201 19,937 
Interest expense(1,954)(4,044)(7,574)(13,301)
Gain on foreign currency transaction— 1,533 993 19,437 
Loss on early extinguishment of debt— (1,166)(1,710)(2,805)
Income from unconsolidated joint ventures234 464,143 2,946 471,385 
(Loss) gain on sales or write-down of assets(32)1,539 156 16,580 
Income tax provision(1,127)(81,548)(2,416)(81,616)
Net income$4,025 $384,304 $8,547 $418,901