Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 55,040	$ 20,178
Restricted cash	483	976
Real estate held for sale	11,584	11,211
Real estate under development	182,775	274,105
Land available for development	76,281	65,009
Real estate held for investment, net	226,776	136,252
Lease right-of-use assets	9,537	10,088
Deferred tax assets	153	153
Other assets	9,933	14,634
Total assets	572,562	532,606
Liabilities:
Accounts payable	8,480	10,061
Accrued liabilities, including taxes	6,657	7,291
Debt	203,898	194,853
Lease liabilities	15,219	15,436
Deferred gain	1,087	1,810
Other liabilities	5,135	5,588
Total liabilities	240,476	235,039
Commitments and contingencies
Stockholders’ equity:
Common stock	98	97
Capital in excess of par value of common stock	201,959	200,972
Retained earnings	21,008	28,601
Common stock held in treasury	(37,274)	(34,965)
Total stockholders’ equity	185,791	194,705
Noncontrolling interests in subsidiaries	146,295	102,862
Total equity	332,086	297,567
Total liabilities and equity	$ 572,562	$ 532,606

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.