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REAL ESTATE HELD FOR INVESTMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Real Estate [Abstract]  
Schedule of Real Estate Investments The following table summarizes the Company’s real estate held for investment as of December 31, 2024 and 2023, respectively (in thousands):
December 31, 2024December 31, 2023
Land$197,644 $228,087 
Buildings and improvements834,848 881,924 
Tenant origination and absorption costs11,394 15,423 
Total real estate, cost1,043,886 1,125,434 
Accumulated depreciation and amortization(161,895)(154,613)
Total real estate, net$881,991 $970,821 
Schedule of Future Minimum Rental Income for Company's Properties
As of December 31, 2024, the future minimum rental income from the Company’s office complexes, under non-cancelable operating leases was as follows (in thousands):
2025$57,846 
202647,370 
202739,135 
202831,510 
202925,422 
Thereafter46,006 
$247,289 
Schedule of Hotel Revenue
The following table provides detailed information regarding the Company’s hotel revenues for its hotel properties for the years ended December 31, 2024, 2023 and 2022 (in thousands):
Year Ended December 31,
202420232022
Hotel revenues:
Room$7,886 $7,981 $23,834 
Other1,175 1,172 6,915 
Hotel revenues$9,061 $9,153 $30,749 
Schedule of Contract Liability
The following table summarizes the Company’s contract liabilities, which are comprised of: hotel advanced deposits, deferred proceeds received from the buyers of the Park Highlands undeveloped land sales, and value of Park Highlands undeveloped land that was contributed to a master association, which are included in other liabilities in the accompanying consolidated balance sheets, as of December 31, 2024 and 2023 (in thousands):
December 31, 2024December 31, 2023
Contract liabilities$25,700 $23,783 
Revenue and other income recognized in the period from:
 Amounts included in contract liabilities at the beginning of the period$9,758 $16,192 
Schedule of Tenant Origination and Absorption Costs
As of December 31, 2024 and 2023, the Company’s tenant origination and absorption costs (included in real estate held for investment, net) were as follows (in thousands):
 Tenant Origination and
Absorption Costs
 December 31, 2024December 31, 2023
Cost$11,394 $15,423 
Accumulated Amortization(7,587)(8,392)
Net Amount$3,807 $7,031 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2024 will be amortized for the years ending December 31 as follows (in thousands):
Tenant Origination and
Absorption Costs
2025$(1,638)
2026(751)
2027(305)
2028(216)
2029(205)
Thereafter(692)
$(3,807)
Weighted-Average Remaining Amortization Period3.0 years