Real Estate Properties (Tables)

6 Months Ended

Jun. 30, 2024

Real Estate [Abstract]

Schedule of Real Estate Properties Owned

Real estate properties, consists of the following (dollars in thousands):

	June 30, 2024		December 31, 2023
Land	$	74,246	$	74,246
Building	616,979		616,979
Building improvements	28,466		25,110
Real estate properties	719,691		716,335
Accumulated depreciation	(93,400)		(80,499)
Total real estate properties, net	$	626,291	$	635,836

A summary of real estate properties owned is as follows (dollars in thousands):

	December 31, 2023 Balance		Improvements		Depreciation		June 30, 2024 Balance
Multi-family	$	634,045	$	3,303	$	(12,846)	$	624,502
Retail shopping center and other	1,791		53		(55)		1,789
Total real estate properties	$	635,836	$	3,356	$	(12,901)	$	626,291

At the indicated dates, real estate properties of the unconsolidated joint ventures consist of the following (dollars in thousands):

	June 30, 2024		December 31, 2023
Land	$	46,331	$	46,331
Building	344,546		291,473
Building improvements	9,105		8,040
Real estate properties	399,982		345,844
Accumulated depreciation	(75,768)		(69,970)
Total real estate properties, net	$	324,214	$	275,874