| Schedule of Disaggregation of Revenue |
The following tables present revenues disaggregated by significant product offerings, which align with the Company’s performance obligations and the basis for calculating each amount for the three and six months ended June 30, 2025 and 2024 (in thousands):
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
| FUND MANAGEMENT FEES |
2025 |
|
2024 |
|
2025 |
|
2024 |
| Funds |
$ |
56,875 |
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|
$ |
59,451 |
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|
$ |
114,495 |
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|
$ |
118,398 |
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| Joint ventures and separately managed accounts |
1,590 |
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|
2,002 |
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|
3,278 |
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|
4,160 |
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| Total fund management fees |
$ |
58,465 |
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$ |
61,453 |
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$ |
117,773 |
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$ |
122,558 |
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
| PROPERTY MANAGEMENT AND LEASING FEES |
2025 |
|
2024 |
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2025 |
|
2024 |
| Multifamily |
$ |
8,122 |
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|
$ |
7,785 |
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$ |
16,077 |
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$ |
15,274 |
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| Seniors Housing |
5,004 |
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|
5,674 |
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|
10,269 |
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|
11,494 |
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| Office |
1,201 |
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|
1,691 |
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|
2,583 |
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|
5,747 |
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| Single-Family Rental |
2,366 |
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|
2,613 |
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|
4,757 |
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|
5,185 |
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| Total property management and leasing fees |
$ |
16,693 |
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$ |
17,763 |
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|
$ |
33,686 |
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$ |
37,700 |
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
| CONSTRUCTION MANAGEMENT FEES |
2025 |
|
2024 |
|
2025 |
|
2024 |
| Multifamily |
$ |
1,322 |
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$ |
1,462 |
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$ |
2,320 |
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$ |
2,558 |
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| Office |
— |
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|
39 |
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|
57 |
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|
378 |
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| Seniors Housing |
154 |
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|
207 |
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|
280 |
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|
421 |
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| Other |
229 |
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|
106 |
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|
337 |
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|
154 |
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| Total construction management fees |
$ |
1,705 |
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|
$ |
1,814 |
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$ |
2,994 |
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$ |
3,511 |
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
| TRANSACTION FEES |
2025 |
|
2024 |
|
2025 |
|
2024 |
| Acquisition fees |
$ |
2,540 |
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|
$ |
4,075 |
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$ |
4,534 |
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$ |
9,796 |
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| Brokerage fees |
2,276 |
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|
2,329 |
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|
3,475 |
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|
3,408 |
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| Total transaction fees |
$ |
4,816 |
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$ |
6,404 |
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$ |
8,009 |
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$ |
13,204 |
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