Investments in Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Joint Ventures

The following table summarizes the Company’s Investments in Unconsolidated Joint Ventures (in thousands):

								The
								Company's
								Share of  Profit
	Common			Total	Total Assets of	Profit (Loss)		(Loss) of  the
	Ownership			Investment	The Partnership	Of the Partnership		Partnership (1)
As of June 30, 2021
Brooksville Quarry, LLC	50.00	%	$	7,474	14,340	(44	)	(22	)
BC FRP Realty, LLC	50.00	%		5,402	22,746	(166	)	(88	)
Riverfront Holdings II, LLC (1)				—	—	(760	)	(628	)
Bryant Street Partnerships	61.36	%		59,571	196,646	(2,410	)	(2,207	)
Hyde Park				4	4	—		—
DST Hickory Creek	26.65	%		6,000	47,006	(209	)	171
Amber Ridge Loan				11,859	11,859	—		—
1800 Half St. Owner, LLC	61.37	%		38,220	66,454	19		25
Greenville/Woodfield Partnerships	40.00	%		16,409	67,661	(10	)	(4	)
Total			$	144,939	426,716	(3,580	)	(2,753	)
								The
								Company's
								Share of  Profit
	Common			Total	Total Assets of	Profit (Loss)		(Loss) of  the
	Ownership			Investment	The Partnership	Of the Partnership		Partnership (1)
As of December 31, 2020
Brooksville Quarry, LLC	50.00	%	$	7,499	14,347	(78	)	(39	)
BC FRP Realty, LLC	50.00	%		5,184	22,747	(411	)	(207	)
Riverfront Holdings II, LLC	80.00	%		23,533	108,538	(4,573	)	(3,907	)
Bryant Street Partnerships	61.36	%		60,159	173,814	(836	)	(2,130	)
Hyde Park				591	591	—		—
DST Hickory Creek	26.65	%		6,000	47,761	(367	)	339
Amber Ridge Loan				10,026	10,026	—		—
1800 Half St. Owner, LLC	61.37	%		37,875	54,275	158		164
Greenville/Woodfield Partnerships	40.00	%		16,204	46,457	182		90
Total			$	167,071	478,556	(5,925	)	(5,690	)

⁽¹⁾ Riverfront Holdings II, LLC was consolidated on March 31, 2021. Bryant Street Partnerships includes $471,000 in 2021 and $1,146,000 in 2020 for the Company’s share of preferred interest and $236,000 in 2021 and $471,000 in 2020 for amortization of guarantee liability related to the Bryant Street loan.

Investments in Apartment/Mixed Use as of June 30, 2021

The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of June 30, 2021 are summarized in the following two tables (in thousands):

	As of June 30, 2021										Total
	Riverfront		Bryant Street		DST Hickory		1800 Half St.		Greenville/		Apartment/
	Holdings II, LLC		Partnership		Creek		Partnership		Woodfield		Mixed Use
Investments in real estate, net	$	0		195,806		44,579		56,555		67,337	$	364,277
Cash and cash equivalents		0		579		1,121		7,089		324		9,113
Unrealized rents & receivables		0		233		935		0		0		1,168
Deferred costs		0		28		371		2,810		0		3,209
Total Assets	$	0		196,646		47,006		66,454		67,661	$	377,767
Secured notes payable	$	0		103,546		29,314		0		24,748	$	157,608
Other liabilities		0		16,441		179		9,827		3,005		29,452
Capital - FRP		0		57,759		4,667		37,485		15,963		115,874
Capital – Third Parties		0		18,900		12,846		19,142		23,945		74,833
Total Liabilities and Capital	$	0		196,646		47,006		66,454		67,661	$	377,767

Investments in Joint Ventures as of June 30, 2021

	As of June 30, 2021
	Brooksville		BC FRP				Amber Ridge		Apartment/		Grand
	Quarry, LLC		Realty, LLC		Hyde Park		Loan		Mixed Use		Total
Investments in real estate, net	$	14,284		21,754		4		11,859		364,277	$	412,178
Cash and cash equivalents		55		310		0		0		9,113		9,478
Unrealized rents & receivables		0		444		0		0		1,168		1,612
Deferred costs		1		238		0		0		3,209		3,448
Total Assets	$	14,340		22,746		4		11,859		377,767	$	426,716
Secured notes payable	$	0		11,764		0		0		157,608	$	169,372
Other liabilities		68		126		0		0		29,452		29,646
Capital - FRP		7,474		5,428		4		11,859		115,874		140,639
Capital - Third Parties		6,798		5,428		0		0		74,833		87,059
Total Liabilities and Capital	$	14,340		22,746		4		11,859		377,767	$	426,716

Investments in Apartments/Mixed Use as of December 30, 2021

The Company’s Investments in Joint Ventures as of December 31, 2020 are summarized in the following two tables (in thousands):

	As of December 31, 2020										Total
	Riverfront		Bryant Street		DST Hickory		1800 Half St.		Greenville/		Apartment/
	Holdings II, LLC		Partnership		Creek		Partnership		Woodfield		Mixed Use
Investments in real estate, net	$	105,737		173,560		45,379		37,452		42,668	$	404,796
Cash and cash equivalents		2,626		111		1,202		14,011		3,554		21,504
Unrealized rents & receivables		13		58		775		2		0		848
Deferred costs		162		85		405		2,810		235		3,697
Total Assets	$	108,538		173,814		47,761		54,275		46,457	$	430,845
Secured notes payable	$	64,982		72,471		29,291		0		1,776	$	168,520
Other liabilities		4,189		22,952		107		1,953		4,774		33,975
Capital - FRP		34,667		58,559		4,894		37,466		15,963		151,549
Capital - Third Parties		4,700		19,832		13,469		14,856		23,944		76,801
Total Liabilities and Capital	$	108,538		173,814		47,761		54,275		46,457	$	430,845

Investments in Joint Ventures as of December 31, 2020

	As of December 31, 2020
	Brooksville		BC FRP				Amber Ridge		Apartment/		Grand
	Quarry, LLC		Realty, LLC		Hyde Park		Loan		Mixed Use		Total
Investments in real estate, net.	$	14,287		22,067		591		10,026		404,796	$	451,767
Cash and cash equivalents		55		90		0		0		21,504		21,649
Unrealized rents & receivables		0		254		0		0		848		1,102
Deferred costs		5		336		0		0		3,697		4,038
Total Assets	$	14,347		22,747		591		10,026		430,845	$	478,556
Secured notes payable	$	0		12,370		0		0		168,520	$	180,890
Other liabilities		28		123		0		0		33,975		34,126
Capital - FRP		7,499		5,127		591		10,026		151,549		174,792
Capital - Third Parties		6,820		5,127		0		0		76,801		88,748
Total Liabilities and Capital	$	14,347		22,747		591		10,026		430,845	$	478,556

Bryant Partnerships income statements

The income statements of the Bryant Partnerships are as follows (in thousands):

	Bryant Street			Bryant Street
	Partnerships			Partnerships
	Total JV			Company Share
	Six Months ended			Six Months ended
	June 30,			June 30,
	2021			2021
Revenues:
Rental Revenue	$	180		$	111
Revenue – other		77			47
Total Revenues		257			158
Cost of operations:
Depreciation and amortization		776			476
Operating expenses		1,117			686
Property taxes		119			73
Total cost of operations		2,012			1,235
Total operating profit		(1,755	)		(1,077	)
Interest expense		(655	)		(1,130	)
Net loss before tax		(2,410	)		(2,207	)