Quarterly report pursuant to Section 13 or 15(d)

Investments In And Advances To Unconsolidated Real Estate Joint Ventures (Tables)

v3.22.1
Investments In And Advances To Unconsolidated Real Estate Joint Ventures (Tables)
3 Months Ended
Mar. 31, 2022
Business Acquisition [Line Items]  
Investments In Unconsolidated Real Estate Joint Ventures

March 31,

December 31,

2022

2021

Altis Grand Central

$

731

$

730

Altis Ludlam Trail (1)

11,144

10,831

Altis Grand at The Preserve

194

Altis Little Havana

1,078

1,021

Altis Lake Willis Phase 1

442

437

Altis Lake Willis Phase 2

2,715

2,538

Altis Miramar East/West

2,904

2,878

Altis Grand at Suncoast

3,641

2,780

Altis Blue Lake

351

260

Altis Santa Barbara

409

The Altman Companies

16,157

16,716

ABBX Guaranty

3,750

3,750

Bayview

1,367

1,308

Marbella

872

974

The Main Las Olas

1,983

1,990

Sky Cove

1,348

1,686

Sky Cove South

4,608

4,708

Other

166

165

Total

$

53,666

$

52,966

(1)The carrying value of BBXRE’s investment at March 31, 2022 and December 31, 2021 includes $10.6 million and $10.3 million, respectively, related to BBXRE’s investment in the preferred equity associated with the Altis Ludlam Trail project accounted for as a loan receivable.
The Altman Companies, LLC [Member]  
Business Acquisition [Line Items]  
Condensed Statements Of Financial Condition For Equity Method Joint Ventures

March 31,

December 31,

2022

2021

Assets

Cash

$

2,346

995

Properties and equipment

386

387

Investment in unconsolidated subsidiaries

7,441

7,153

Goodwill

16,683

16,683

Due from related parties

5,471

4,462

Other assets

9,345

8,662

Total assets

$

41,672

38,342

Liabilities and Equity

Other liabilities

$

12,929

8,463

Total liabilities

12,929

8,463

Total equity

28,743

29,879

Total liabilities and equity

$

41,672

38,342

Condensed Statements Of Operations For Equity Method Joint Ventures

For the Three Months Ended March 31,

2022

2021

Total revenues

$

2,168

$

1,826

Other expenses

(3,032)

(2,525)

Operating loss

(864)

(699)

Equity in (losses) earnings from unconsolidated investment in Altman Glenewinkel Construction, LLC

(459)

367

Net loss

(1,323)

(332)

Equity in net loss of unconsolidated real estate joint venture - The Altman Companies

$

(662)

$

(166)

Marbella [Member]  
Business Acquisition [Line Items]  
Condensed Statements Of Financial Condition For Equity Method Joint Ventures

March 31,

December 31,

2022

2021

Assets

Cash

$

2,464

4,371

Inventory

49,420

49,967

Other assets

1,742

1,835

Total assets

$

53,626

56,173

Liabilities and Equity

Notes payable

$

30,504

31,256

Other liabilities

21,815

23,885

Total liabilities

52,319

55,141

Total equity

1,307

1,032

Total liabilities and equity

$

53,626

56,173

Condensed Statements Of Operations For Equity Method Joint Ventures

For the Three Months Ended March 31,

2022

2021

Total revenues

$

15,792

Cost of goods sold

(11,289)

Other expenses

(727)

(341)

Net earnings (loss)

3,776

(341)

Equity in net earnings (loss) of unconsolidated real estate joint venture –

Marabella

$

1,849

(239)