CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Real estate investments at cost:
Land	$ 141,578	$ 141,579
Buildings and improvements	282,070	270,579
Projects under construction	2,667	12,208
Total investments in properties	426,315	424,366
Less accumulated depreciation and depletion	62,720	57,208
Net investments in properties	363,595	367,158
Real estate held for investment, at cost	10,392	10,182
Investments in joint ventures	152,587	140,525
Net real estate investments	526,574	517,865
Cash and cash equivalents	166,537	177,497
Cash held in escrow	823	797
Accounts receivable, net	1,472	1,166
Unrealized rents	1,299	856
Deferred costs	2,620	2,343
Other assets	571	560
Total assets	699,896	701,084
Liabilities:
Secured notes payable	178,631	178,557
Accounts payable and accrued liabilities	3,153	5,971
Other liabilities	1,886	1,886
Federal and state income taxes payable	186	18
Deferred revenue	891	259
Deferred income taxes	67,903	67,960
Deferred compensation	1,381	1,354
Tenant security deposits	873	868
Total liabilities	254,904	256,873
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 9,495,673 and 9,459,686 shares issued and outstanding, respectively	950	946
Capital in excess of par value	67,028	65,158
Retained earnings	342,610	342,317
Accumulated other comprehensive income (loss), net	(712)	(1,276)
Total shareholders’ equity	409,876	407,145
Noncontrolling interest	35,116	37,066
Total equity	444,992	444,211
Total liabilities and equity	$ 699,896	$ 701,084