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 |
|
|