Investments In Unconsolidated Joint Ventures

9 Months Ended

Sep. 30, 2023

Investments In Unconsolidated Joint Ventures [Abstract]

Investments In Unconsolidated Joint Ventures

Note 9 – Investments in Unconsolidated Joint Ventures

Our investments in unconsolidated joint ventures are accounted for under the equity method of accounting.

The table below summarizes our active investment holdings in two (2) unconsolidated joint ventures as of September 30, 2023, and December 31, 2022:

		September 30,		December 31,
(Dollars in thousands)	Interest	2023		2022
Rialto Cinemas	50.0%	$	860	$	920
Mt. Gravatt	33.3%		3,628		3,836
Total investments		$	4,488	$	4,756

For the quarter and nine months ended September 30, 2023 and 2022, the recognized share of equity earnings from our investments in unconsolidated joint ventures are as follows:

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2023		2022		2023		2022
Rialto Cinemas	$	25	$	(15)	$	(14)	$	(68)
Mt. Gravatt		192		76		457		301
Total equity earnings	$	217	$	61	$	443	$	233