Risk Factors Update Summary
- Commercial real estate capital markets remained under significant pressure in 2023, leading to a slowdown in property sales and debt financing activity.
- Interest rates continued to rise in 2023, impacting the value of investments made.
- Net investment decreased from approximately $339 million to $337 million as of December 31, 2023.
- Net investment in unconsolidated real estate projects increased from $283 million to $358 million.
- Revenue transacted in foreign currencies increased from 43% to 45% in 2023.
- The number of real estate projects consolidated in financial statements increased from 29 to 36.
- Capital committed to consolidated projects decreased from $81 million to $73.9 million as of December 31, 2023.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1138118&owner=exclude
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