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Combined and Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Real estate    
Real estate, at cost [1] $ 97,907 $ 97,481
Less: accumulated depreciation [1] (23,863) (22,075)
Real estate, net [1] 74,044 75,406
Real estate available and held for sale [1] 1,746  
Total real estate [1] 75,790 75,406
Land and development, net [1] 160,829 181,394
Loans receivable and other lending investments, net ($512 and $497 of allowances as of June 30, 2024 and December 31, 2023, respectively) [1] 30,681 20,898
Other investments [1] 260,852 316,451
Cash and cash equivalents [1] 48,277 50,663
Accrued interest and operating lease income receivable, net [1] 624 929
Deferred operating lease income receivable, net [1] 930 997
Deferred expenses and other assets, net [1] 23,057 22,459
Total assets [1] 601,040 669,197
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1],[2] 47,076 42,462
Debt obligations, net [1] 197,209 192,895
Total liabilities [1] 244,285 235,357
Commitments and contingencies (refer to Note 10) [1]
Star Holdings shareholders' equity:    
Common Stock, $0.001 par value, 200,000 shares authorized, 13,320 and 13,320 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively [1] 13 13
Additional paid-in capital [1] 607,623 607,623
Accumulated deficit [1] (272,537) (196,441)
Accumulated other comprehensive loss [1] 216 359
Star Holdings shareholders' equity [1] 335,315 411,554
Noncontrolling interests [1] 21,440 22,286
Total equity [1] 356,755 433,840
Total liabilities and equity [1] $ 601,040 $ 669,197
[1] Refer to Note 2 for details on the Company’s combined and consolidated variable interest entities (“VIEs”).
[2] As of June 30, 2024 and December 31, 2023, includes $4.8 million and $7.2 million, respectively, of management fees due to Safe (refer to Note 1).