Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Investments in and Advances to Consolidated and Unconsolidated Variable Interest Entities (Tables)

v3.23.1
Note 7 - Investments in and Advances to Consolidated and Unconsolidated Variable Interest Entities (Tables)
3 Months Ended
Mar. 31, 2023
Notes Tables  
Equity Method Investments [Table Text Block]
   

January 31,

 
   

2023

 

Cash

  $ 19,083  

Restricted cash

    10,064  

Real estate

    24,410  

Investment in and advances to unconsolidated real estate joint ventures

    38,673  

Other assets

    818  

Total consolidated VIE assets

    93,048  

Accounts payable

    (2,365 )

Contract liabilities

    (228 )

Fair value of identifiable net assets

    90,455  

Fair value of noncontrolling interests

    61,017  

Fair value of net assets attributable to the Company

    29,438  

Carrying amount of previously held investments

    18,583  

Gain on the consolidation of VIEs

  $ 10,855  
   

March 31,

 
   

2023

 

Cash

  $ 18,507  

Restricted cash

    10,128  

Real estate

    28,809  

Investment in and advances to unconsolidated real estate joint ventures

    39,014  

Other assets

    539  

Total assets

  $ 96,997  

Total liabilities

    2,835  
Schedule of Variable Interest Entities [Table Text Block]
   

March 31,

           

December 31,

         
   

2023

   

Ownership (1)

   

2022

   

Ownership (1)

 

Altis Grand Central

  $ 687       1.49 %     687       1.49 %

Altis Ludlam Trail (2)

    20,332       48.13       12,216       33.30  

Altis Lake Willis Phase 1

    6,503       1.68       850       1.23  

Altis Lake Willis Phase 2

    2,360       5.10       601       3.50  

Altis Grand at Suncoast

    12,058       12.31       4,579       11.00  

Altis Blue Lake

    3,672       1.68       647       1.22  

Altis Santa Barbara

    6,033       5.10       433       3.50  

Altra Kendall (3)

                5,670       13.70  

The Altman Companies(3)

                11,992       50.00  

ABBX Guaranty (3)

                5,978       50.00  

Marbella

    1,047       70.00       1,064       70.00  

The Main Las Olas

    804       3.41       1,117       3.41  

Sky Cove

    112       26.25       24       26.25  

Sky Cove South

    2,213       26.25       3,241       26.25  

Other

    309               316          

Total

  $ 56,130               49,415          
Marbella [Member]  
Notes Tables  
Equity Method Investments [Table Text Block]
   

March 31,

   

December 31,

 
   

2023

   

2022

 

Assets

               

Cash

  $ 1,801       3,508  

Real estate inventory

    1,706       1,706  

Other assets

    496       526  

Total assets

  $ 4,003       5,740  

Liabilities and Equity

               

Other liabilities

  $ 1,910       3,611  

Total liabilities

    1,910       3,611  

Total equity

    2,093       2,129  

Total liabilities and equity

  $ 4,003       5,740  
   

For the Three Months Ended

 
   

March 31,

 
   

2023

   

2022

 

Total revenues

  $ 1,183     $ 15,792  

Cost of real estate inventory sold

          (11,289 )

Other expenses

    (19 )     (727 )

Net earnings

    1,164       3,776  

Equity in net earnings (losses) of unconsolidated real estate joint venture - Marbella

  $ 582     $ 1,849