CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Real estate, net	$ 344,660	$ 377,383
Notes receivable (including $77,129 and $70,375 at June 30, 2021 and December 31, 2020, respectively, from related parties)	140,396	130,626
Cash and cash equivalents	46,009	36,814
Restricted cash	21,999	50,206
Investment in unconsolidated joint ventures	60,336	60,425
Receivable from related parties	105,948	129,335
Other assets	88,904	80,975
Total assets	808,252	865,764
Liabilities:
Mortgages and notes payable	211,333	242,711
Bonds payable	203,591	237,888
Accounts payable and other liabilities (including $14,724 and $12,488 at June 30, 2021 and December 31, 2020, respectively, to related parties)	56,856	27,299
Accrued interest payable	6,721	7,639
Deferred revenue	9,791	19,821
Total liabilities	488,292	535,358
Shareholders' Equity:
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 1,800,614 shares issued and outstanding	1,801	1,801
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,152,043 and 16,209,228 shares issued at June 30, 2021 and December 31, 2020, respectively; and 16,152,043 shares outstanding	162	162
Treasury stock, 57,185 at December 31, 2020	0	(2)
Paid-in capital	62,090	62,092
Retained earnings	163,478	172,738
Total shareholders' equity	227,531	236,791
Non-controlling interest	92,429	93,615
Total equity	319,960	330,406
Total liabilities and partners' capital	$ 808,252	$ 865,764