Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Investments in and Advances to Consolidated and Unconsolidated VIEs (Tables)

v3.23.2
Note 7 - Investments in and Advances to Consolidated and Unconsolidated VIEs (Tables)
6 Months Ended
Jun. 30, 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

    18,556  

Gain on the consolidation of VIEs

  $ 10,882  
   

June 30,

 
   

2023

 

Cash

  $ 7,439  

Restricted cash

    10,236  

Real estate

    37,771  

Investment in and advances to unconsolidated real estate joint ventures

    44,032  

Other assets

    1,225  

Total assets

  $ 100,703  

Total liabilities

  $ 33  

Noncontrolling interest

  $ 58,596  
Schedule of Variable Interest Entities [Table Text Block]
   

June 30,

           

December 31,

         
   

2023

   

Ownership (1)

   

2022

   

Ownership (1)

 

Altis Grand Central

  $ 687       1.49 %     687       1.49 %

Altis Ludlam Trail (2)

    20,574       48.13       12,216       33.30  

Altis Lake Willis Phase 1

    6,750       1.68       850       1.23  

Altis Lake Willis Phase 2

    3,024       5.10       601       3.50  

Altis Grand at Suncoast

    12,190       12.31       4,579       11.00  

Altis Blue Lake

    4,150       1.68       647       1.22  

Altis Santa Barbara

    6,035       5.10       433       3.50  

Altra Kendall (3)

                5,670       13.70  

Altis Twin Lakes

    3,579       11.39              

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

    785       3.41       1,117       3.41  

Sky Cove

    116       26.25       24       26.25  

Sky Cove South

    1,878       26.25       3,241       26.25  

Other

    374               316          

Total

  $ 61,189               49,415          
Altis Little Havana [Member]  
Notes Tables  
Equity Method Investments [Table Text Block]
   

June 30,

   

December 31,

 
   

2023

   

2022

 

Assets

               

Cash

  $       718  

Real estate

           

Other assets

          411  

Total assets

  $       1,129  

Liabilities and Equity

               

Notes payable

  $        

Other liabilities

          270  

Total liabilities

          270  

Total equity

          859  

Total liabilities and equity

  $       1,129  
   

For the Three Months Ended

   

For the Six Months Ended

 
   

June 30,

   

June 30,

 
   

2023

   

2022

   

2023

   

2022

 

Total revenues

  $       200             200  

Gain on sale of real estate

          55,836             55,836  

Other expenses

          (258 )           (361 )

Net earnings

  $       55,778             55,675  

Equity in net earnings of unconsolidated real estate joint venture - Altis Little Havana

  $       8,406             8,398  
Marbella [Member]  
Notes Tables  
Equity Method Investments [Table Text Block]
   

June 30,

   

December 31,

 
   

2023

   

2022

 

Assets

               

Cash

  $ 1,755       3,508  

Real estate inventory

    1,705       1,706  

Other assets

    488       526  

Total assets

  $ 3,948       5,740  

Liabilities and Equity

               

Other liabilities

  $ 1,854       3,611  

Total liabilities

    1,854       3,611  

Total equity

    2,094       2,129  

Total liabilities and equity

  $ 3,948       5,740  
   

For the Three Months Ended

   

For the Six Months Ended

 
   

June 30,

   

June 30,

 
   

2023

   

2022

   

2023

   

2022

 

Total revenues

  $ 9       32,228       1,192       48,020  

Cost of real estate inventory sold

          (24,360 )           (35,649 )

Other expenses

    (8 )     (989 )     (27 )     (1,716 )

Net earnings

  $ 1       6,879       1,165       10,655  

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

  $       3,362       582       5,211