Note 5 - Investment in Joint Venture |
6 Months Ended | ||
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Jun. 30, 2024 | |||
Notes to Financial Statements | |||
Investment [Text Block] |
In December 2023, the Company entered into a joint venture agreement with a local developer to form a Hawai‘i limited liability company ("BRE2 LLC"). The Company's initial capital contribution to BRE2 LLC consisted of approximately 30 acres of former pineapple lands in Hali‘imaile valued at $1.6 million. During the six months ended June 30, 2024, the company provided BRE2LLC with additional funding of to terms of the joint venture agreement, net proceeds from the sales of improved agricultural lots will be distributed, when the funds are available for distribution.
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