Operating Segments (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Profit by Reportable segment

The following table presents our reportable segments for the three and six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Multifamily Segment
Revenues	$	3,529	$	3,702	$	7,365	$	7,258
Operating expenses	(2,111)		(2,108)		(4,234)		(4,053)
Profit from segment	1,418		1,594		3,131		3,205
Commercial Segment
Revenues	6,665		7,863		13,190		15,749
Operating expenses	(2,947)		(3,702)		(6,656)		(8,066)
Profit from segment	3,718		4,161		6,534		7,683
Total profit from segments	$	5,136	$	5,755	$	9,665	$	10,888

Reconciliation of Revenue from Segments to Consolidated

The table below reflects the reconciliation of total profit from segments to net (loss) income for the three and six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Total profit from segments	$	5,136	$	5,755	$	9,665	$	10,888
Other non-segment items of income (expense)
Depreciation	(3,211)		(3,418)		(6,538)		(6,812)
General and administrative	(5,866)		(1,669)		(9,101)		(5,961)
Advisory fee to related party	(5,739)		(2,353)		(8,175)		(4,726)
Other income	5,616		5,284		2,376		4,864
Interest income	909		3,176		11,260		11,038
Interest expense	(7,681)		(9,071)		(15,419)		(18,673)
(Loss) gain on foreign currency transaction	(4,793)		(5,599)		2,824		2,244
Income (losses) from unconsolidated joint ventures	4,572		(719)		7,908		(979)
(Loss) gain on sales or write-down of assets	(24,445)		5,339		(7,047)		9,477
Income tax expense	1,841		(49)		1,801		(296)
Net (loss) income	$	(33,661)	$	(3,324)	$	(10,446)	$	1,064