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Investments in Real Estate Ventures (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value
The Company's unconsolidated investments in real estate ventures are recorded on the consolidated balance sheets at fair value. The following table summarizes these investments (in thousands):
December 31,
Description20222021
Investors X$1,369 $1,484 
The Hartford953 1,211 
BLVD Forty Four2,135 2,007 
BLVD Ansel2,556 — 
Total$7,013 $4,702 
Schedule of Investments in Real Estate Ventures
The following table below summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):
Balance as of December 31, 2020$6,307 
Investments2,058 
Distributions(3,522)
Change in fair value(141)
Balance as of December 31, 2021$4,702 
Investments2,709 
Distributions(382)
Change in fair value(16)
Balance as of December 31, 2022$7,013 
Summarized Financial Information for Unconsolidated Joint Venture
The following tables summarize the combined financial information for our unconsolidated investments in real estate ventures accounted for at fair value or under the equity method (in thousands):

Year Ended December 31,
Combined Statements of Operations:20222021
Revenue$20,825 $17,670 
Operating income (loss)11,550 8,878 
Net income (loss)$(7,360)(316)