Operating Segments (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Profit by Reportable Segment

The following table presents our profit by reportable segment:

	For the Years Ended December 31,
	2020		2019		2018
Multifamily Segment
Revenue	$	14,686	$	13,517	$	80,821
Operating expenses	(8,482)		(9,304)		(42,778)
Profit from segment	6,204		4,213		38,043
Commercial Segment
Revenue	37,223		32,714		33,123
Operating expenses	(15,878)		(16,390)		(16,809)
Profit from segment	21,345		16,324		16,314
Total profit from segments	$	27,549	$	20,537	$	54,357

Reconciliation of Revenue from Segments to Consolidated

The following table reconciles our profit by reportable segment to net income (loss):

	For the Years Ended December 31,
	2020		2019		2018
Segment operating income	$	27,549	$	20,537	$	54,357
Other non-segment items of income (expense)
Depreciation and amortization	(14,755)		(13,379)		(22,670)
General and administrative	(10,614)		(11,089)		(12,708)
Advisory Fee	(9,409)		(9,216)		(12,106)
Other income	7,117		12,757		36,005
Interest Income	23,098		25,955		21,645
Interest Expense	(35,004)		(39,860)		(66,063)
(Loss) gain on foreign currency transactions	(13,378)		(15,108)		12,399
Los on extinguishment of debt	—		(5,219)		—
Equity in (loss) income from unconsolidated joint ventures	(379)		(2,313)		1,513
Gain on sale or write-down of assets	36,895		15,192		171,530
Income tax provision	147		—		(1,210)
Net income (loss)	$	11,267	$	(21,743)	$	182,692

Reconciliation of Assets from Segment to Consolidated

The table below reconciles the segment information to the corresponding amounts in the consolidated balance sheets:

	December 31,
	2020		2019
Segment assets	$	342,965	$	348,404
Real estate	65,149		70,006
Investments in unconsolidated joint ventures	60,425		67,655
Notes receivable	130,626		143,087
Receivable from related parties	129,335		85,996
Other assets and receivables	137,264		115,493
Total assets	$	865,764	$	830,641