CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Real estate	$ 493,821	$ 296,363
Cash and cash equivalents	113,424	50,735
Restricted cash	108,883	21,986
Short-term investments	119,787	16,001
Notes receivable (including $66,630 and $68,991 at December 31, 2022 and 2021, respectively, from related parties)	129,304	129,726
Investment in unconsolidated joint ventures	20,904	52,879
Receivable from related parties	147,142	136,715
Other assets (including $4,040 and $4,223 at December 31, 2022 and 2021, respectively, from related parties)	84,900	84,004
Total assets	1,218,165	788,409
Liabilities:
Mortgages and other notes payable	184,462	176,750
Bonds payable	129,218	189,452
Accounts payable and other liabilities (including $599 and $616 at December 31, 2022 and 2021, respectively, to related parties)	58,094	43,602
Interest payable	5,198	6,416
Deferred revenue	581	581
Total liabilities	377,553	416,801
Equity:
Common stock, $0.01 par value, 10,000,000 shares authorized; 8,639,316 shares issued, 8,639,116 outstanding	86	86
Additional paid-in capital	260,387	260,387
Retained earnings	558,994	90,732
Total shareholders’ equity	819,467	351,205
Noncontrolling interest	21,145	20,403
Total equity	840,612	371,608
Total liabilities and equity	$ 1,218,165	$ 788,409