Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details)

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INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Real estate $ 5,728,775 $ 4,721,291    
Other assets 1,212,739 1,503,309    
Total assets 7,162,654 6,353,134    
Equity of:        
Meritage 5,141,573 4,611,900 $ 3,949,611 $ 3,044,389
Total liabilities and stockholders’ equity 7,162,654 6,353,134    
Equity Method Investment, Nonconsolidated Investee or Group of Investees        
Assets        
Cash 4,434 3,546    
Real estate 66,443 28,395    
Other assets 7,286 6,514    
Total assets 78,163 38,455    
Liabilities and equity:        
Accounts payable and other liabilities 7,148 6,537    
Equity of:        
Meritage [1] 27,735 16,279    
Other 43,280 15,639    
Total liabilities and stockholders’ equity $ 78,163 $ 38,455    
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reported in our consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses.