Quarterly report [Sections 13 or 15(d)]

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)

v3.26.1
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule Of Unconsolidated Joint Ventures
The following is a summary of the Company's unconsolidated joint ventures as of March 31, 2026 and December 31, 2025 (dollars in thousands):
Property Debt
Entity / Property Name Number of
Apartment Units		 Company's
Effective
Ownership %		 Carrying Value As of March 31, 2026
March 31,
2026		 December 31,
2025		 Balance Maturity
Date		 Interest
Rate
RiverTrace at Port Imperial 316 units 22.5  % 3,449  3,353  82,000  11/10/26   3.21  %
The Capstone at Port Imperial 360 units 40.0  % 17,150  17,513  135,000  12/22/26
SOFR+
 1.20  %
Riverpark at Harrison 141 units 45.0  % —  —  29,795  07/01/35 3.19  %
Station House 378 units 50.0  % 31,326  31,322  84,593  07/01/33 4.82  %
Totals: $ 51,925  $ 52,188  $ 331,388 
Schedule Of Company's Equity In Earnings (Loss) Of Unconsolidated Joint Ventures
The following is a summary of the Company’s equity in earnings (loss) of unconsolidated joint ventures for the three months ended March 31, 2026 and 2025, respectively (dollars in thousands):
Three Months Ended
March 31,
Entity / Property Name 2026 2025
Metropolitan at 40 Park (a) $ —  $ (249)
RiverTrace at Port Imperial 141  160 
The Capstone at Port Imperial 261  161 
Riverpark at Harrison 54  54 
Station House 4  (11)
Urby at Harborside (b) —  3,727 
Company's equity in earnings (loss) of unconsolidated joint ventures (c) $ 460  $ 3,842 
(a)In April 2025, the Company sold its interest in The Metropolitan at 40 Park multifamily rental property in Morristown, New Jersey.
(b)In April 2025, the Company acquired the remaining 15 percent controlling interest in the joint venture which owns Sable (previously referred to as "Urby at Harborside") and consolidated its full interest in the property.
(c)Amounts are net of amortization of basis differences of $0.1 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively.