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Investments In Unconsolidated Real Estate Joint Ventures (Tables)
12 Months Ended
Dec. 31, 2018
Business Acquisition [Line Items]  
Investments In Unconsolidated Real Estate Joint Ventures





 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

December 31,

 

 

 

December 31,

 

 

 



 

2018

 

Ownership(1)

 

2017

 

Ownership(1)

 

Altis at Kendall Square, LLC

$

70 

 

20.24

%

78 

 

20.24

%

Altis at Lakeline - Austin Investors LLC

 

4,531 

 

34.47

 

4,156 

 

33.74

 

Altis at Shingle Creek, LLC

 

83 

 

2.50

 

338 

 

2.50

 

Altis at Grand Central Capital, LLC

 

2,549 

 

11.07

 

1,872 

 

10.54

 

Altis Promenade Capital, LLC

 

2,195 

 

6.61

 

962 

 

5.00

 

Altis at Bonterra - Hialeah, LLC

 

21,602 

 

96.73

 

19,566 

 

95.00

 

Altis Ludlam - Miami Investor, LLC

 

675 

 

33.30

 

 -

 

-

 

Altis Suncoast Manager, LLC

 

1,857 

 

33.30

 

 -

 

-

 

Altis Pembroke Gardens, LLC

 

1,284 

 

0.41

 

 -

 

-

 

Altis Fairways, LLC

 

1,876 

 

0.42

 

 -

 

-

 

Altis Wiregrass, LLC

 

1,897 

 

2.22

 

 -

 

-

 

The Altman Companies, LLC(2)

 

14,893 

 

50.00

 

 -

 

-

 

ABBX Guaranty, LLC

 

2,500 

 

50.00

 

 -

 

-

 

New Urban/BBX Development, LLC

 

98 

 

50.00

 

2,064 

 

50.00

 

Sunrise and Bayview Partners, LLC

 

1,439 

 

50.00

 

1,499 

 

50.00

 

Hialeah Communities, LLC

 

182 

 

57.00

 

473 

 

57.00

 

PGA Design Center Holdings, LLC

 

691 

 

40.00

 

1,862 

 

40.00

 

CCB Miramar, LLC

 

1,575 

 

35.00

 

1,225 

 

35.00

 

The Addison on Millenia Investment, LLC

 

35 

 

48.00

 

5,933 

 

48.00

 

BBX/S Millenia Blvd Investments, LLC

 

137 

 

90.00

 

5,611 

 

90.00

 

Centra Falls, LLC

 

16 

 

7.14

 

159 

 

7.14

 

Centra Falls II, LLC

 

38 

 

7.14

 

551 

 

7.14

 

BBX/Label Chapel Trail Development, LLC

 

4,515 

 

46.75

 

4,885 

 

46.75

 

Total

$

64,738 

 

 

 

51,234 

 

 

 





(1)

The Company’s ownership percentage in each real estate joint venture represents the Company’s percentage of the contributed capital in each venture. The operating agreements for many of these ventures provide for a disproportionate allocation of distributions to the extent that certain investors receive specified returns on their investments, and as a result, these percentages do not necessarily reflect the Company’s economic interest in the expected distributions from such ventures

(2)

The investment in The Altman Companies, LLC includes $2.3 million of transaction costs.



Condensed Statements Of Operations For Equity Method Joint Ventures



 

 

 

 

 

 



 

 

 

 

 

 



 

For the Years Ended December 31,



 

2018

 

2017

 

2016

Total revenues

$

406 

 

80,407 

 

84,860 

Costs of sales

 

(64)

 

(51,072)

 

(62,315)

Other expenses

 

(44)

 

(5,134)

 

(4,562)

Net earnings (losses)

$

298 

 

24,201 

 

17,983 

Equity in net earnings of unconsolidated real estate joint venture - Hialeah Communities, LLC

$

55 

 

11,043 

 

8,476 



The Addison on Millenia Investment, LLC [Member]  
Business Acquisition [Line Items]  
Condensed Statements Of Financial Condition For Equity Method Joint Ventures



 

 

 

 



 

 

 

 



 

December 31,



 

2018

 

2017

Assets

 

 

 

 

Cash

$

68 

 

427 

Properties and equipment

 

 -

 

40,381 

Other assets

 

86 

 

117 

Total assets

$

154 

 

40,925 

Liabilities and Equity

 

 

 

 

Notes payable

$

 -

 

27,139 

Other liabilities

 

12 

 

2,161 

Total liabilities

 

12 

 

29,300 

Total equity

 

142 

 

11,625 

Total liabilities and equity

$

154 

 

40,925 







 

 

 

 

 

 



 

 

 

 

 

 



 

For the Years Ended December 31,



 

2018

 

2017

 

2016

Net gains on sales of real estate assets

$

22,203 

 

 -

 

 -

Other revenue

 

3,858 

 

1,303 

 

 -

Total revenues

$

26,061 

 

1,303 

 

 -

Total expenses

 

(2,266)

 

(1,794)

 

 -

Net earnings (losses)

$

23,795 

 

(491)

 

 -

Equity in net earnings of unconsolidated real estate joint venture - The Addison at Millenia Investment, LLC

$

9,283 

 

(146)

 

 -



Hialeah Communities, LLC [Member]  
Business Acquisition [Line Items]  
Condensed Statements Of Financial Condition For Equity Method Joint Ventures



 

 

 

 



 

 

 

 



 

December 31,



 

2018

 

2017

Assets

 

 

 

 

Cash

$

675 

 

1,750 

Real estate inventory

 

 -

 

221 

Properties and equipment

 

 -

 

 -

Other assets

 

 -

 

137 

Total assets

$

675 

 

2,108 

Liabilities and Equity

 

 

 

 

Notes payable

$

 -

 

161 

Other liabilities

 

277 

 

1,347 

Total liabilities

 

277 

 

1,508 

Total equity

 

398 

 

600 

Total liabilities and equity

$

675 

 

2,108