CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Real estate held for investment, net	$ 917,855	$ 978,182
Real estate held for sale, net	4,491	116,572
Real estate equity securities	17,325	41,609
Total real estate and real estate-related investments, net	939,671	1,136,363
Cash and cash equivalents	18,902	99,160
Restricted cash	25,425	56,049
Investments in unconsolidated entities	80,909	45,901
Rents and other receivables, net	23,499	22,500
Prepaid expenses and other assets	20,904	26,292
Assets related to real estate held for sale, net	0	1,878
Total assets	1,109,310	1,388,143
Liabilities and equity
Notes and bonds payable related to real estate held for investment, net	923,772	954,309
Notes payable related to real estate held for sale, net	3,141	74,374
Notes and bonds payable, net	926,913	1,028,683
Accounts payable and accrued liabilities	27,724	30,409
Total liabilities	1,017,084	1,124,779
Commitments, contingencies and guarantees (Note 9)
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value; 1,000,000,000 shares authorized, 102,951,395 and 103,310,648 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	1,030	1,033
Additional paid-in capital	898,682	901,049
Cumulative distributions and net loss	(804,352)	(639,933)
Total stockholders’ equity	95,360	262,149
Noncontrolling interests	(3,134)	1,215
Total equity	92,226	263,364
Total liabilities and equity	1,109,310	1,388,143
Due to affiliates
Liabilities and equity
Payable as of	11,889	7,902
Other liabilities
Liabilities and equity
Payable as of	$ 50,558	$ 57,785