CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate investments at cost:
Land	$ 141,578	$ 141,579
Buildings and improvements	281,193	270,579
Projects under construction	2,663	12,208
Total investments in properties	425,434	424,366
Less accumulated depreciation and depletion	59,940	57,208
Net investments in properties	365,494	367,158
Real estate held for investment, at cost	10,298	10,182
Investments in joint ventures	144,677	140,525
Net real estate investments	520,469	517,865
Cash and cash equivalents	173,299	177,497
Cash held in escrow	585	797
Accounts receivable, net	1,333	1,166
Unrealized rents	937	856
Deferred costs	2,410	2,343
Other assets	566	560
Total assets	699,599	701,084
Liabilities:
Secured notes payable	178,594	178,557
Accounts payable and accrued liabilities	3,169	5,971
Other liabilities	1,886	1,886
Federal and state income taxes payable	313	18
Deferred revenue	201	259
Deferred income taxes	68,013	67,960
Deferred compensation	1,357	1,354
Tenant security deposits	881	868
Total liabilities	254,414	256,873
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 9,503,633 and 9,459,686 shares issued and outstanding, respectively	950	946
Capital in excess of par value	66,281	65,158
Retained earnings	342,882	342,317
Accumulated other comprehensive income (loss), net	(902)	(1,276)
Total shareholders’ equity	409,211	407,145
Noncontrolling interest	35,974	37,066
Total equity	445,185	444,211
Total liabilities and equity	$ 699,599	$ 701,084