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INVESTMENT IN UNCONSOLIDATED ENTITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Investments in Unconsolidated Entities
The following table details the Company’s equity method investments in the Unconsolidated Joint Venture. See Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (dollars in thousands):
Ownership InterestCarrying Value
Joint Venture
Asset TypeLocationDate of AcquisitionDecember 31, 2024December 31, 2024December 31, 2023
1910 Sunset Boulevard (1)
Office / Multifamily (Development)
Los Angeles, CAFebruary 11, 202244.2%$12,898 $12,040 
4750 Wilshire Boulevard (2)
Multifamily / Office
Los Angeles, CAFebruary 17, 202320.0%8,622 9,119 
1902 Park Avenue (3)
MultifamilyLos Angeles, CAFebruary 28, 202325.5%5,730 7,082 
1015 N Mansfield Avenue (4)
Office (Development)
Los Angeles, CAOctober 10, 202328.8%6,427 5,264 
Total investments in unconsolidated entities$33,677 $33,505 
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(1)1910 Sunset Boulevard is an office building with 104,764 square feet of office space and 2,760 square feet of retail space. The 1910 Sunset JV (defined below). The 1910 Sunset JV has begun the 1915 Park Project (defined below) to build 36 multifamily units on the 1915 Park Avenue land parcel adjacent to the office building.
(2)4750 Wilshire Boulevard is a three-story office building with 30,335 square feet of office space located on the first floor. The remainder of the building was substantially converted into 68 for-lease multifamily units in September 2024.
(3)1902 Park Avenue is a 75-unit four-story multifamily building.
(4)1015 N Mansfield Avenue is an office building with a 44,141 square foot site area and a parking garage. The site is being evaluated for different development options, including creative office or other commercial space. As of December 31, 2024, this property was in pre-development phase and the Company has not finalized the formal development plan for the property.