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Revenue | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue All the Company's revenue was for the years ended December 31, 2023 and 2022 was generated in the United States. The following tables summarize the Company’s revenue by line of business, customer type, and contract type (in thousands):
|  |  | Year Ended December 31,
|  |  |  |  | 2023 |  | 2022
Revenue by Line of Business |  |  |  |  |  |  |
Asset management |  |  |  |  | $ | 29,278 |  |  | $ | 26,680 |
Property management |  |  |  |  | 10,604 |  | 9,398
Parking management |  |  |  |  | 4,839 |  | 3,235
Total revenue |  |  |  |  | $ | 44,721 |  |  | $ | 39,313 |
|  |  | Year Ended December 31,
|  |  |  |  | 2023 |  | 2022
Revenue by Customer Type |  |  |  |  |  |  |
Related party |  |  |  |  | $ | 43,568 |  |  | $ | 38,719 |
Commercial |  |  |  |  | 1,153 |  |  | 594 |
Total revenue |  |  |  |  | $ | 44,721 |  |  | $ | 39,313 |
|  |  | Year Ended December 31,
|  |  |  |  | 2023 |  | 2022
Revenue by Contract Fee Type 1 |  |  |  |  |  |  |
Fixed-price |  |  |  |  | $ | 6,255 |  |  | $ | 7,048 |
Cost-plus |  |  |  |  | 26,170 |  |  | 22,652 |
Variable |  |  |  |  | 12,296 |  |  | 9,613 |
Total revenue |  |  |  |  | $ | 44,721 |  |  | $ | 39,313 |
1 Certain contracts contain multiple revenue streams with characteristics that lend to classification in more than one category. For the years ended December 31, 2023, and 2022 the Company recognized revenue from incentive fees of $4.8 million and $3.9 million, respectively. The incentive fee revenue recognized in both periods stemmed from scheduled annual triggering events for operating assets that began on October 1, 2022, and are scheduled each October 1 through 2024, pursuant to the terms of the 2022 AMA. All Incentive Fees recognized to date have been related to services performed in prior periods for which revenue recognition criteria were previously constrained. Subsequent to these scheduled triggering events, and in accordance with terms pursuant to the 2022 AMA, incentive fees may be recognized on assets currently under development upon the achievement of future triggering events tied to various metrics that indicate stabilization, such as occupancy and leasing rates. (See Note 14 in the Notes to Consolidated Financial Statements for additional information).

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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