Real Estate Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2020

Investments

Schedule of financial information of unconsolidated joint venture

	March 31,		December 31,
	2020		2019
Investment in unconsolidated joint ventures
Latitude Margaritaville Watersound JV	$	1,317	$	791
Pier Park TPS JV		3,080		3,083
Sea Sound Apartments JV (a)		5,476		—
Busy Bee JV		1,204		1,210
Total investment in unconsolidated joint ventures	$	11,077	$	5,084
Outstanding debt of unconsolidated JVs
Pier Park TPS JV	$	11,068	$	6,791
Busy Bee JV		4,486		1,451
Total outstanding debt of unconsolidated JVs (b)	$	15,554	$	8,242

a) JV was formed in January 2020.

b) See Note 18. Commitments and Contingencies for additional information.

The following table presents detail of the Company’s equity in loss from unconsolidated affiliates:

	Three Months Ended March 31, 2020
Equity in loss from unconsolidated affiliates
Latitude Margaritaville Watersound JV	$	74
Pier Park TPS JV		3
Busy Bee JV		6
Total equity in loss from unconsolidated affiliates	$	83

Latitude Margaritaville Watersound JV

Investments

Schedule of financial information of unconsolidated joint venture

	March 31,		December 31,
	2020		2019
BALANCE SHEETS:
Investment in real estate	$	2,106	$	1,116
Cash and cash equivalents		568		525
Other assets		25		—
Total assets	$	2,699	$	1,641
Other liabilities	$	66	$	58
Equity		2,633		1,583
Total liabilities and equity	$	2,699	$	1,641

	Three Months Ended March 31, 2020
STATEMENT OF OPERATIONS:
Total expenses	$	149
Net loss	$	149

Sea Sound Apartments JV

Investments

Schedule of financial information of unconsolidated joint venture

	March 31,
	2020
BALANCE SHEET:
Investment in real estate	$	9,443
Cash and cash equivalents		53
Other assets		559
Total assets	$	10,055
Other liabilities	$	892
Equity		9,163
Total liabilities and equity	$	10,055

Pier Park TPS JV

Investments

Schedule of financial information of unconsolidated joint venture

	March 31,		December 31,
	2020		2019
BALANCE SHEETS:
Investment in real estate	$	17,703	$	14,775
Cash and cash equivalents		67		51
Other assets		9		12
Total assets	$	17,779	$	14,838
Debt, net	$	10,761	$	6,480
Other liabilities		871		2,193
Equity		6,147		6,165
Total liabilities and equity	$	17,779	$	14,838

	Three Months Ended March 31,
	2020		2019
STATEMENT OF OPERATIONS:
Total expenses	$	6	$	—
Net loss	$	6	$	—

Busy Bee JV (SJBB, LLC)

Investments

Schedule of financial information of unconsolidated joint venture

	March 31,		December 31,
	2020		2019
BALANCE SHEETS:
Investment in real estate	$	6,852	$	3,886
Cash and cash equivalents		27		36
Other assets		14		28
Total assets	$	6,893	$	3,950
Debt, net	$	4,390	$	1,349
Other liabilities		94		181
Equity		2,409		2,420
Total liabilities and equity	$	6,893	$	3,950

	Three Months Ended March 31, 2020
STATEMENT OF OPERATIONS:
Total expenses	$	11
Net loss	$	11