CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Real estate	$ 557,388	$ 501,586
Cash and cash equivalents	19,915	36,700
Restricted cash	20,557	42,327
Short-term investments	79,800	90,448
Notes receivable (including $61,245 and $65,057 at December 31, 2024 and 2023, respectively, from related parties)	128,229	133,837
Receivable from related parties	163,518	136,211
Other assets (including $1,595 and $1,742 at December 31, 2024 and 2023, respectively, from related parties)	101,138	101,935
Total assets	1,070,545	1,043,044
Liabilities:
Mortgages and other notes payable	181,856	179,141
Accounts payable and other liabilities (including $601 and $1,016 at December 31, 2024 and 2023, respectively, to related parties)	32,103	13,735
Accrued interest	3,194	2,633
Deferred revenue	581	581
Total liabilities	217,734	196,090
Equity:
Common stock, $0.01 par value, 10,000,000 shares authorized; 8,639,316 shares issued and outstanding	86	86
Additional paid-in capital	261,399	260,990
Retained earnings	570,793	564,931
Total shareholders’ equity	832,278	826,007
Noncontrolling interest	20,533	20,947
Total equity	852,811	846,954
Total liabilities and equity	$ 1,070,545	$ 1,043,044