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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flow From Operating Activities:    
Net income $ 2,302 $ 4,219
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on foreign currency transactions 0 (971)
Depreciation and amortization 3,185 3,755
Provision of bad debts 29 0
Equity in income from unconsolidated joint ventures (483) (2,419)
Changes in assets and liabilities:    
Other assets 1,359 (5,030)
Related party receivable (464) 818
Accrued interest 142 (1,483)
Accounts payable and other liabilities (2,203) 2,650
Net cash provided by operating activities 3,867 1,539
Cash Flow From Investing Activities:    
Collection of notes receivable 3,005 248
Purchase of short-term investments (17,399) (63,956)
Redemption of short-term investments 31,694 27,192
Development and renovation of real estate (5,726) (5,653)
Deferred leasing costs 0 (19)
Distribution from unconsolidated joint venture 0 17,976
Net cash provided by (used in) investing activities 11,574 (24,212)
Cash Flow From Financing Activities:    
Payments on mortgages, other notes and bonds payable (858) (89,111)
Repurchase of IOR shares (587) 0
Deferred financing costs (11) (16)
Net cash used in financing activities (1,456) (89,127)
Net increase (decrease) in cash, cash equivalents and restricted cash 13,985 (111,800)
Cash, cash equivalents and restricted cash, beginning of period 79,067 222,328
Cash, cash equivalents and restricted cash, end of period $ 93,052 $ 110,528