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