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Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The table below shows the consolidated revenues earned for providing services under the Company’s asset management platform as described in the Revenue Recognition section of Note 2 – Summary of Significant Accounting Policies for the three months ended March 31, 2024 and 2023.

						Three Months Ended March 31,
						2024						2023
Fund management fees						$	1,378					$	1,289
Financing fees						2						78
Development and construction fees						1,531						528
Brokerage fees						259						141
Total asset management						3,170						2,036
Performance allocations						166						2,426
Total related party revenue						$	3,336					$	4,462

Schedule of Notes Receivable

The following table summarizes the notes receivable – related parties as of March 31, 2024 and December 31, 2023 (in thousands):

Notes Receivable - Related Parties						March 31, 2024						December 31, 2023						Interest Rate (1)						Maturity Date (1)
Caliber Hospitality LP (2)						$	6,749					$	—					12.00%						September 2025
Olathe Behavioral Health						—						25						12.00%						May 2025
DFW Behavioral Health LLC						—						25						14.00%						May 2025
Total Notes Receivable - Related Parties						$	6,749					$	50

__________________________________

(1) As of March 31, 2024.

(2) During the three months ended March 31, 2024, the Company deconsolidated Caliber Hospitality, LP and the Caliber Hospitality Trust, which included activity from six hospitality funds.

Notes Receivable

The consolidated fund entered into unsecured promissory notes with related parties. The notes may be repaid in whole, or in part, without penalty. The notes receivable – related parties consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):

Notes Receivable - Related Parties						March 31, 2024						December 31, 2023						Interest Rate(1)						Maturity Date(1)
SF Alaska, LP						$	15,592					$	14,976					12.00%						May 2025
The Ketch, LLC						7,713						7,198						12.00%						May 2024
Circle Lofts, LLC						1,851						1,797						12.00%						May 2024
J-25 Development Group, LLC						32						4,804						12.00%						May 2024
Caliber Diversified Opportunity Fund II, LP						12						109						12.00%						September 2025
Ridge II, LLC						1,186						846						12.00%						December 2024
Ironwood, LLC						3,564						2,703						13.00%						September 2025
47th Street Phoenix Fund, LLC						87						—						12.00%						May 2025
Southridge, LLC						—						2,187						13.00%						July 2025
Caliber Hospitality, LP (2)						10,254						—						12.00%						June 2025
Blue Spruce, LLC						56						—						13.00%						January 2026
Total Notes Receivable - Related Parties						$	40,347					$	34,620

__________________________________

(1) As of March 31, 2024.

(2) During the three months ended March 31, 2024, the Company deconsolidated Caliber Hospitality, LP and the Caliber Hospitality Trust, which included activity from six hospitality funds.

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- References

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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