Operating Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Profit by Reportable Segment

The following table presents our reportable segments for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025		2024
Multifamily Segment
Revenues	$	8,764	$	8,510
Operating expenses	(4,040)		(4,219)
Profit from segment	4,724		4,291
Commercial Segment
Revenues	3,244		3,389
Operating expenses	(1,937)		(2,415)
Profit from segment	1,307		974
Total profit from segments	$	6,031	$	5,265

Schedule of Reconciliation of Revenue from Segments to Consolidated

The table below reflects the reconciliation of total profit from segments to net income for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025		2024
Total profit from segments	$	6,031	$	5,265
Other non-segment items of income (expense)
Depreciation and amortization	(2,883)		(3,172)
General and administrative	(1,352)		(1,261)
Advisory fee to related party	(2,431)		(2,165)
Interest income	4,628		6,127
Interest expense	(1,781)		(1,869)
Income from unconsolidated joint venture	—		435
Gain on sales or write-down of assets	3,891		—
Income tax provision	(1,322)		(603)
Net income	$	4,781	$	2,757