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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flow From Operating Activities:    
Net (loss) income $ (13,223) $ 8,547
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Loss (gain) on real estate transactions 23,400 (156)
Gain on foreign currency transactions 0 (993)
Loss on early extinguishment of debt 0 1,710
Depreciation and amortization 9,668 10,518
Provision of bad debts 112 875
Equity in income from unconsolidated joint ventures (1,407) (2,946)
Distribution of income from unconsolidated joint ventures 841 0
Changes in assets and liabilities:    
Other assets (6,398) (11,336)
Related party receivable (1,176) (4,369)
Accrued interest 449 (1,872)
Accounts payable and other liabilities 4,593 7,868
Net cash provided by operating activities 16,859 7,846
Cash Flow From Investing Activities:    
Collection of notes receivable 5,792 394
Originations and advances on notes receivable 0 (6,500)
Purchase of short-term investments (58,019) (89,566)
Redemption and/or maturity of short-term investments 56,415 75,168
Development and renovation of real estate (30,956) (9,876)
Deferred leasing costs (130) (290)
Proceeds from sale of assets 0 188
Distribution from unconsolidated joint venture 0 20,916
Net cash used in investing activities (26,898) (9,566)
Cash Flow From Financing Activities:    
Proceeds from mortgages and other notes payable 10,708 0
Payments on mortgages, other notes and bonds payable (9,614) (136,809)
Debt extinguishment costs 0 (435)
Repurchase of IOR shares (802) 0
Deferred financing costs (199) (16)
Net cash provided by (used in) financing activities 93 (137,260)
Net decrease in cash, cash equivalents and restricted cash (9,946) (138,980)
Cash, cash equivalents and restricted cash, beginning of period 79,067 222,328
Cash, cash equivalents and restricted cash, end of period $ 69,121 $ 83,348