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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Real estate $ 582,232 $ 557,388
Cash and cash equivalents 13,800 19,918
Restricted cash 18,237 20,557
Short-term investments 74,859 79,800
Notes receivable (including $69,966 and $71,365 at March 31, 2025 and December 31, 2024, respectively, from related parties) 136,684 138,349
Investment in unconsolidated joint ventures 10,088 10,246
Receivable from related party 98,983 97,544
Other assets (including $992 and $1,855 at March 31, 2025 and December 31, 2024, respectively, from related parties) 110,116 109,000
Total assets 1,044,999 1,032,802
Liabilities:    
Mortgages and other notes payable 201,695 185,398
Accounts payable and other liabilities (including $29 and $601 at March 31, 2025 and December 31, 2024, respectively, from related parties) 24,670 32,105
Accrued interest 3,289 3,238
Deferred revenue 9,791 9,791
Total liabilities 239,445 230,532
Shareholders' Equity:    
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 1,800,614 shares issued and outstanding 1,801 1,801
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,152,043 shares issued and outstanding 162 162
Additional paid-in capital 61,279 61,161
Retained earnings 541,664 538,699
Total shareholders' equity 604,906 601,823
Noncontrolling interests 200,648 200,447
Total equity 805,554 802,270
Total liabilities and equity $ 1,044,999 $ 1,032,802