CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Real estate	$ 377,383	$ 387,790
Notes receivable (including $69,518 and $83,757 at December 31, 2020 and 2019, respectively, from related parties)	130,626	143,087
Cash and cash equivalents	36,814	51,228
Restricted cash	50,206	32,083
Investment in unconsolidated joint ventures	60,425	67,655
Receivable from related parties	129,335	85,996
Other assets	80,975	62,802
Total assets	865,764	830,641
Liabilities:
Mortgages and other notes payable	242,711	249,854
Bonds payable	237,888	223,265
Accounts payable and other liabilities	27,299	29,014
Interest payable	7,639	7,230
Deferred revenue	19,821	24,762
Total liabilities	535,358	534,125
Equity:
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 1,800,614 shares issued and outstanding	1,801	3,601
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,209,228 shares issued and 16,152,043 outstanding	162	164
Treasury stock at cost, (57,185) shares	(2)	(6,395)
Additional paid-in capital	62,092	78,421
Retained earnings	172,738	163,708
Total shareholders’ equity	236,791	239,499
Noncontrolling interest	93,615	57,017
Total equity	330,406	296,516
Total liabilities and equity	$ 865,764	$ 830,641