Investments in Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in unconsolidated joint ventures

The following table summarizes the Company’s Investments in unconsolidated joint ventures (in thousands):

								The
								Company's
								Share of Profit
	Common			Total	Total Assets of	Profit (Loss)		(Loss) of the
	Ownership			Investment	The Partnership	Of the Partnership		Partnership (1)
As of December 31, 2021
Brooksville Quarry, LLC	50.00	%	$	7,488	14,301	(82	)	(41	)
BC FRP Realty, LLC	50.00	%		5,530	22,470	(230	)	(115	)
Riverfront Holdings II, LLC (1)				—	—	(760	)	(628	)
Bryant Street Partnerships	61.36	%		59,558	204,082	(6,084	)	(4,954	)
Aberdeen Station Loan				514	514	—		—
DST Hickory Creek	26.65	%		6,000	46,048	(481	)	343
Amber Ridge Loan				11,466	11,466	—		—
1800 Half St. Owner, LLC	61.37	%		38,693	93,932	12		20

Greenville/Woodfield Partnerships	40.00	%		16,194	87,731	(948	)	(379	)
Total			$	145,443	480,544	(8,573	)	(5,754	)
								The
								Company's
								Share of Profit
	Common			Total	Total Assets of	Profit (Loss)		(Loss) of the
	Ownership			Investment	The Partnership	Of the Partnership		Partnership (1)
As of December 31, 2020
Brooksville Quarry, LLC	50.00	%	$	7,499	14,347	(78	)	(39	)
BC FRP Realty, LLC	50.00	%		5,184	22,747	(411	)	(207	)
Riverfront Holdings II, LLC	80.00	%		23,533	108,538	(4,573	)	(3,907	)
Bryant Street Partnerships	61.36	%		60,159	173,814	(836	)	(2,130	)
Hyde Park				591	591	—		—
DST Hickory Creek	26.65	%		6,000	47,761	(367	)	339
Amber Ridge Loan				10,026	10,026	—		—
1800 Half St. Owner, LLC	61.37	%		37,875	54,275	158		164
Greenville/Woodfield Partnerships	40.00	%		16,204	46,457	182		90
Total			$	167,071	478,556	(5,925	)	(5,690	)

(1): Riverfront Holdings II, LLC was consolidated on March 31, 2021. Bryant Street Partnerships includes $747,000 in 2021 and $1,146,000 in 2020 for the Company’s share of preferred interest and $471,000 in 2021 and $471,000 in 2020 for amortization of guarantee liability related to the Bryant Street loan.

Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2021

The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2021 are summarized in the following two tables (in thousands):

	As of December 31, 2021										Total
	Riverfront		Bryant Street		DST Hickory		1800 Half St.		Greenville/		Apartment/
	Holdings II, LLC		Partnership		Creek		Partnership		Woodfield		Mixed Use
Investments in real estate, net	$	0		199,730		43,840		93,504		87,421	$	424,495
Cash and cash equivalents		0		1,123		827		428		279		2,657
Unrealized rents & receivables		0		2,925		1,044		0		5		3,974
Deferred costs		0		304		337		0		26		667
Total Assets	$	0		204,082		46,048		93,932		87,731	$	431,793
Secured notes payable	$	0		119,201		29,337		18,404		44,309	$	211,251
Other liabilities		0		9,066		115		14,470		4,462		28,113
Capital - FRP		0		57,555		4,423		37,478		15,584		115,040
Capital – Third Parties		0		18,260		12,173		23,580		23,376		77,389
Total Liabilities and Capital	$	0		204,082		46,048		93,932		87,731	$	431,793

Investments in Joint Ventures as of December 31, 2021

	As of December 31, 2021
	Brooksville		BC FRP		Aberdeen		Amber Ridge		Apartment/		Grand
	Quarry, LLC		Realty, LLC		Loan		Loan		Mixed Use		Total
Investments in real estate, net	$	14,281		21,561		514		11,466		424,495	$	472,317
Cash and cash equivalents		18		312		0		0		2,657		2,987
Unrealized rents & receivables		0		368		0		0		3,974		4,342
Deferred costs		2		229		0		0		667		898
Total Assets	$	14,301		22,470		514		11,466		431,793	$	480,544
Secured notes payable	$	0		11,384		0		0		211,251	$	222,635
Other liabilities		0		140		0		0		28,113		28,253
Capital - FRP		7,488		5,473		514		11,466		115,040		139,981
Capital - Third Parties		6,813		5,473		0		0		77,389		89,675
Total Liabilities and Capital	$	14,301		22,470		514		11,466		431,793	$	480,544

Investments in Apartment/Mixed Use Joint Ventures as of December 31, 2020

The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2020 are summarized in the following two tables (in thousands):

	As of December 31, 2020										Total
	Riverfront		Bryant Street		DST Hickory		1800 Half St.		Greenville/		Apartment/
	Holdings II, LLC		Partnership		Creek		Partnership		Woodfield		Mixed Use
Investments in real estate, net	$	105,737		173,560		45,379		37,452		42,668	$	404,796
Cash and cash equivalents		2,626		111		1,202		14,011		3,554		21,504
Unrealized rents & receivables		13		58		775		2		0		848
Deferred costs		162		85		405		2,810		235		3,697
Total Assets	$	108,538		173,814		47,761		54,275		46,457	$	430,845
Secured notes payable	$	64,982		72,471		29,291		0		1,776	$	168,520
Other liabilities		4,189		22,952		107		1,953		4,774		33,975
Capital - FRP		34,667		58,559		4,894		37,466		15,963		151,549
Capital - Third Parties		4,700		19,832		13,469		14,856		23,944		76,801
Total Liabilities and Capital	$	108,538		173,814		47,761		54,275		46,457	$	430,845

Investments in Joint Ventures as of December 31, 2020

	As of December 31, 2020
	Brooksville		BC FRP				Amber Ridge		Apartment/		Grand
	Quarry, LLC		Realty, LLC		Hyde Park		Loan		Mixed Use		Total
Investments in real estate, net	$	14,287		22,067		591		10,026		404,796	$	451,767
Cash and cash equivalents		55		90		0		0		21,504		21,649
Unrealized rents & receivables		0		254		0		0		848		1,102
Deferred costs		5		336		0		0		3,697		4,038
Total Assets	$	14,347		22,747		591		10,026		430,845	$	478,556
Secured notes payable	$	0		12,370		0		0		168,520	$	180,890
Other liabilities		28		123		0		0		33,975		34,126
Capital - FRP		7,499		5,127		591		10,026		151,549		174,792
Capital - Third Parties		6,820		5,127		0		0		76,801		88,748
Total Liabilities and Capital	$	14,347		22,747		591		10,026		430,845	$	478,556

Bryant Street Partnerships

The income statements of the Bryant Street Partnerships are as follows (in thousands):

	Bryant Street			Bryant Street
	Partnerships			Partnerships
	Total JV			Company Share
	Year ended			Year ended
	December 31,			December 31,
	2021			2021
Revenues:
Rental Revenue	$	2,376		$	1,458
Revenue – other		318			195
Total Revenues		2,694			1,653
Cost of operations:
Depreciation and amortization		2,842			1,744
Operating expenses		3,163			1,941
Property taxes		398			244
Total cost of operations		6,403			3,929
Total operating profit (loss)		(3,709	)		(2,276	)
Interest expense		(2,375	)		(2,678	)
Net loss before tax		(6,084	)		(4,954	)