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Basis of Presentation and Principles of Consolidation - VIEs (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 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  
Cash and cash equivalents 48,277 [1] 50,663 [1] $ 54,944
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  
Carrying value of investment [1] 260,852 316,451  
Consolidated VIEs      
Real estate      
Real estate, at cost 95,108 94,682  
Less: accumulated depreciation (23,045) (21,349)  
Real estate, net 72,063 73,333  
Real estate available and held for sale 1,746    
Total real estate 73,809 73,333  
Land and development, net 89,096 108,284  
Cash and cash equivalents 15,797 31,479  
Accrued interest and operating lease income receivable, net   24  
Deferred expenses and other assets, net 7,158 8,758  
Total assets 185,860 221,878  
LIABILITIES      
Total liabilities $ 31,007 $ 23,600  
[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).