CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Real estate	$ 296,363	$ 377,383
Cash and cash equivalents	50,735	36,761
Restricted cash	21,986	50,206
Short-term investments	16,001	0
Notes receivable (including $68,991 and $62,448 at December 31, 2021 and 2020, respectively, from related parties)	129,726	123,556
Investment in unconsolidated joint ventures	52,879	51,786
Receivable from related parties	136,715	159,777
Other assets (including $4,223 and $3,830 at December 31, 2021 and 2020, respectively, from related parties)	84,004	79,613
Total assets	788,409	879,082
Liabilities:
Mortgages and other notes payable	176,750	236,069
Bonds payable	189,452	237,888
Accounts payable and other liabilities (including $616 and $930 at December 31, 2021 and 2020, respectively, to related parties)	43,602	26,729
Interest payable	6,416	7,550
Deferred revenue	581	9,315
Total liabilities	416,801	517,551
Equity:
Common stock, $0.01 par value, 10,000,000 shares authorized; 8,639,316 shares issued, 8,639,116 outstanding	86	86
Treasury stock at cost, 200 shares	0	(2)
Additional paid-in capital	260,387	260,389
Retained earnings	90,732	81,334
Total shareholders’ equity	351,205	341,807
Noncontrolling interest	20,403	19,724
Total equity	371,608	361,531
Total liabilities and equity	$ 788,409	$ 879,082