Investment in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Summary of Financial Data and Principal Activities of Unconsolidated Joint Ventures

The following information summarizes financial data and principal activities of the Company's unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of March 31, 2023 and December 31, 2022 ($ in thousands).

SUMMARY OF FINANCIAL POSITION
	Total Assets				Total Debt				Total Equity (Deficit)				Company's Investment
	2023		2022		2023		2022		2023		2022		2023			2022
Operating Properties:
AMCO 120 WT Holdings, LLC	$	80,739	$	81,136	$	—	$	—	$	79,916	$	80,509	$	14,713		$	14,856
Crawford Long - CPI, LLC (1)	23,111		22,857		62,406		62,856		(40,697)		(39,691)		(19,697)		(2)	(19,173)		(2)
Under Development:
Neuhoff Holdings LLC (3)	391,658		321,338		129,622		115,940		222,390		177,734		117,618			93,647
Land:
715 Ponce Holdings LLC	8,391		8,333		—		—		8,377		8,332		4,311			4,261
Sold and Other:
HICO Victory Center LP	158		158		—		—		5,818		5,818		79			75
	$	504,057	$	433,822	$	192,028	$	178,796	$	275,804	$	232,702	$	117,024		$	93,666

(1) Subsequent to quarter end, Crawford Long - CPI, LLC executed a loan application for its Medical Offices at Emory Hospital property. This $83.0 million interest-only mortgage loan will have a 9-year term and a fixed interest rate of 4.80%. It is expected to close in the second quarter, with the proceeds to be used to pay off the existing $62.4 million mortgage loan maturing June 1, 2023.

(2) Negative investment basis included in deferred income on the consolidated balance sheets.

(3) Neuhoff Holdings LLC has a construction loan with a borrowing capacity up to $312.7 million that matures September 2025. Effective April 10, 2023, the interest rate on the Neuhoff loan changed from the London Interbank Offered Rate ("LIBOR") to the Secured Overnight Financing Rate ("SOFR") plus 3.45%. The minimum rate is 3.60%.

The information included in the summary of operations table is for the three months ended March 31, 2023 and 2022 ($ in thousands).

SUMMARY OF OPERATIONS
	Total Revenues				Net Income (Loss)				Company's Income from Investment
	2023		2022		2023		2022		2023		2022
Operating Properties:
AMCO 120 WT Holdings, LLC	$	2,701	$	2,565	$	780	$	692	$	155	$	134
Crawford Long - CPI, LLC	3,079		3,178		994		1,116		462		523
Under Development:
Neuhoff Holdings LLC	24		25		10		21		5		10
Land:
715 Ponce Holdings LLC	67		55		45		36		23		18
Sold and Other:
Carolina Square Holdings LP	—		4,089		48		724		24		334
HICO Victory Center LP	92		19		6,735		19		4		6
Other	—		(2)		—		(41)		—		99
	$	5,963	$	9,929	$	8,612	$	2,567	$	673	$	1,124