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Note 4 - Real Estate - Disposition Activity (Details) - Disposition Activity Relating to Consolidated Operating Properties and Parcels [Member]
$ in Millions
3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Aggregate sales price/gross fair value (1) (2) [1],[2] $ 248.4 $ 117.6
Gain on sale of properties (3) [3] $ 0.3 $ 39.2
Number of properties sold 10 3
Number of parcels sold/deconsolidated (2) [1] 5 3
[1] During 2023, the Company contributed a land parcel and related entitlements, located in Admore, PA, into a preferred equity investment with a gross value of $19.6 million. As a result, the Company no longer consolidates this land parcel and has a non-controlling interest in this investment. See Footnote 6 of the Notes to Condensed Consolidated Financial Statements for preferred equity investment disclosure.
[2] During 2024, the Company provided as a lender seller financing totaling $175.4 million related to the sale of nine operating properties. During 2023, the Company provided as a lender seller financing of $25.0 million related to the sale of an operating property located in Gresham, OR. See Footnote 10 of the Notes to Condensed Consolidated Financial Statements for mortgage receivable loan disclosure.
[3] Before noncontrolling interests of $1.5 million and taxes of $1.2 million for the three months ended March 31, 2023.