Reported a net loss of $14.5 million for the three months ended March 31, 2026, compared to a $8.0 million loss in the same period of 2025. Total revenues increased to $20.9 million from $14.6 million, driven by higher land development revenue. Completed the deconsolidation of a venture in Asbury Park, NJ, following the repayment of a mezzanine loan. Utilized the full $10.0 million authorization of the share repurchase program, buying back 0.2 million shares during the quarter. Maintained a portfolio of assets for monetization, including loans, land, and an 18.8% equity stake in Safehold Inc. (Safe).