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Operating Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Operating Segments Operating Segments
Segment information is prepared on the same basis that our chief operating decision maker ("CODM") reviews information to assess performance and make resource allocation decisions. Our CODM is our President and Chief Executive Officer. We operate in two reportable segments: (i) the acquisition, development, ownership and management of multifamily properties ("Residential Segment") and (ii) the acquisition, ownership and management of commercial real estate properties ("Commercial Segment"). The services for our segments include property rentals and other tenant services, including parking and storage space rental. Asset information by segment is not reported because we do not use this measure to assess performance or make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, advisory fees, interest income and interest expense are not included in segment profit as our internal reporting addresses these items on a corporate level.
The following table presents our profit by reportable segment:
 For the Years Ended December 31,
 202420232022
Residential Segment
Revenue$34,103 $34,962 $19,601 
Operating expenses(18,252)(17,749)(9,524)
Profit from segment15,851 17,213 10,077 
Commercial Segment
Revenue12,967 14,943 17,059 
Operating expenses(8,811)(10,147)(8,815)
Profit from segment4,156 4,796 8,244 
Total profit from segments$20,007 $22,009 $18,321 

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

 For the Years Ended December 31,
 202420232022
Profit from reportable segments$20,007 $22,009 $18,321 
Other non-segment items of income (expense)
Depreciation and amortization(12,276)(13,646)(9,686)
General and administrative(6,395)(10,011)(10,033)
Advisory fee to related party(8,225)(10,187)(8,753)
Other income248 595 884 
Interest income19,973 26,847 26,559 
Interest expense(7,838)(9,502)(17,529)
Gain on foreign currency transactions— 993 20,067 
Loss on early extinguishment of debt— (1,710)(2,805)
Equity in income from unconsolidated joint ventures1,449 3,242 469,268 
(Loss) gain on real estate transactions(23,989)(1,923)87,132 
Income tax provision3,607 (1,456)(98,108)
Net (loss) income$(13,439)$5,251 $475,317 
The table below reconciles the segment information to the corresponding amounts in the consolidated balance sheets:
 December 31,
 20242023
Segment assets$523,792 $462,419 
Real estate59,197 69,139 
Investments in unconsolidated joint ventures10,246 10,060 
Notes receivable138,349 144,142 
Receivable from related parties97,544 96,533 
Cash, short-term investments and other non-segment assets203,674 241,191 
Total assets$1,032,802 $1,023,484