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Operating Segments
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Operating Segments Operating Segments
Our segments are based on the internal reporting that we review for operational decision-making purposes. We operate in two reportable segments: (i) the acquisition, development, ownership and management of multifamily properties ("Residential Segment") and (ii) the acquisition, ownership and management of commercial real estate properties ("Commercial Segment"). The services for our segments include rental of property and other tenant services, including parking and storage space rental. Asset information by segment is not reported because we do not use this measure to assess performance or make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, advisory fees, interest income and interest expense are not included in segment profit as our internal reporting addresses these items on a corporate level.
The following table presents our profit by reportable segment:
For the Year Ended
December 31,
202320222021
Residential Segment
Revenue$32,608 $17,828 $14,495 
Operating expenses(17,749)(9,524)(8,167)
Profit from segment14,859 8,304 6,328 
Commercial Segment
Revenue14,415 16,252 23,313 
Operating expenses(10,147)(8,815)(12,693)
Profit from segment4,268 7,437 10,620 
Total profit from all segments$19,127 $15,741 $16,948 

The following table reconciles our profit by reportable segment to net income:
For the Year Ended
December 31,
202320222021
Profit from reportable segments$19,127 $15,741 $16,948 
Other non-segment items of income (expense)
Depreciation and amortization(13,646)(9,686)(11,870)
General and administrative(9,199)(9,943)(12,425)
Advisory fee to related party(9,156)(7,974)(11,782)
Other income2,882 2,580 2,966 
Interest income30,020 24,248 17,951 
Interest expense(9,291)(17,316)(22,979)
Gain (loss) on foreign currency transactions993 20,067 (6,175)
Loss on early extinguishment of debt(1,710)(2,805)(1,451)
Equity in income from unconsolidated joint venture1,060 468,086 14,531 
(Loss) gain on sale, remeasurement or write down of assets, net(1,891)89,196 23,352 
Income tax provision(1,939)(103,190)1,011 
Net income$7,250 $469,004 $10,077 
The table below reconciles our segment information to the corresponding amounts in our consolidated balance sheets:
December 31,
20232022
Segment assets$462,419 $448,995 
Real estate69,139 80,055 
Investment in unconsolidated joint venture555 20,904 
Notes receivable133,837 129,304 
Receivable from related parties136,211 147,142 
Cash, short-term investments and other non-segment assets240,883 391,765 
Total assets$1,043,044 $1,218,165