Quarterly report pursuant to Section 13 or 15(d)

Investments In Unconsolidated Real Estate Joint Ventures

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Investments In Unconsolidated Real Estate Joint Ventures
6 Months Ended
Jun. 30, 2018
Investments In Unconsolidated Real Estate Joint Ventures [Abstract]  
Investments In Unconsolidated Real Estate Joint Ventures

8.     Investments in Unconsolidated Real Estate Joint Ventures 



As of June 30, 2018, the Company had equity interests in 17 unconsolidated real estate joint ventures involved in the development of single-family master planned communities, multifamily apartment facilities and retail centers.  Investments in unconsolidated real estate joint ventures are accounted for as unconsolidated variable interest entities.  See Note 3 for information regarding the Company’s investments in consolidated variable interest entities.



Investments in unconsolidated real estate joint ventures consisted of the following (in thousands):





 

 

 

 

 

 

 

 

 



 

 

 

 

 



 

June 30,

 

December 31,

 



 

2018

 

2017

 

Altis at Kendall Square, LLC

$

70 

 

78 

 

Altis at Lakeline - Austin Investors LLC

 

3,794 

 

4,156 

 

New Urban/BBX Development, LLC

 

446 

 

2,064 

 

Sunrise and Bayview Partners, LLC

 

1,455 

 

1,499 

 

Hialeah Communities, LLC

 

111 

 

473 

 

PGA Design Center Holdings, LLC

 

774 

 

1,862 

 

CCB Miramar, LLC

 

1,225 

 

1,225 

 

Centra Falls, LLC

 

10 

 

159 

 

The Addison on Millenia Investment, LLC

 

5,453 

 

5,933 

 

BBX/S Millenia Blvd Investments, LLC

 

147 

 

5,611 

 

Altis at Bonterra - Hialeah, LLC

 

19,405 

 

19,566 

 

Altis at Shingle Creek Manager, LLC

 

359 

 

338 

 

Altis at Grand Central Capital, LLC

 

1,926 

 

1,872 

 

Centra Falls II, LLC

 

431 

 

551 

 

BBX/Label Chapel Trail Development, LLC

 

4,797 

 

4,885 

 

Altis Promenade Capital, LLC

 

983 

 

962 

 

Altis Ludlam - Miami Investor, LLC

 

415 

 

 -

 

Investments in unconsolidated real estate joint ventures

$

41,801 

 

51,234 

 





During May 2018, the Company invested in a joint venture, Altis Ludlam - Miami Investor, LLC, to acquire land and obtain entitlements for a potential multifamily apartment development project located in Miami, Florida.



See Note 10 to the Company’s consolidated financial statements included in the 2017 Annual Report for the Company’s accounting policies for analyzing its investments in real estate joint ventures.