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INVESTMENT IN UNCONSOLIDATED ENTITIES (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Investments in Unconsolidated Entities | The following table details the Company’s equity method investments in its Unconsolidated Joint Ventures. See Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (dollars in thousands):
|  |  |  |  |  |  |  |  |  | Carrying Value
Joint Venture |  | Asset Type |  | Location |  | Acquisition Date |  | Ownership Interest |  | June 30, 2024 |  | December 31, 2023
1910 Sunset Boulevard (1) |  | Office / Multifamily (Development) |  | Los Angeles, CA |  | February 11, 2022 |  | 44.2% |  | $ | 12,039 |  |  | $ | 12,040 |
4750 Wilshire Boulevard (2) |  | Office / Multifamily (Development) |  | Los Angeles, CA |  | February 17, 2023 |  | 20.0% |  | 9,413 |  |  | 9,119 |
1902 Park Avenue (3) |  | Multifamily |  | Los Angeles, CA |  | February 28, 2023 |  | 50.0% |  | 6,658 |  |  | 7,082 |
1015 N Mansfield Avenue (4) |  | Office (Development) |  | Los Angeles, CA |  | October 10, 2023 |  | 28.8% |  | 6,392 |  |  | 5,264 |
Total investments in unconsolidated entities |  |  |  |  |  |  |  |  |  | $ | 34,502 |  |  | $ | 33,505 |
______________________ (1)1910 Sunset Boulevard is an office building with 104,764 square feet of office space and 2,760 square feet of retail space. The 1910 Sunset JV (defined below) has plans to begin a development program to renovate and modernize the building’s creative office space but the 1910 Sunset JV has not yet finalized the formal development plan for the property. The 1910 Sunset JV has begun the 1915 Park Project (defined below) to build multifamily units on the 1915 Park Avenue land parcel adjacent to the office building. (2)4750 Wilshire Boulevard is a three-story office building with 30,335 square feet of office space located on the first floor. The remainder of the building is being converted into for-lease multifamily units. (3)1902 Park Avenue is a 75-unit four-story multifamily building. (4)1015 N Mansfield Avenue is an office building with a 44,141 square foot site area and a parking garage. The site is being evaluated for different development options, including creative office or other commercial space. As of June 30, 2024, this property was in pre-development phase and the Company has not finalized the formal development plan for the property.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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