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Investments, All Other Investments
 12 Months Ended
Dec. 31, 2024
Investments, All Other Investments [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
The following table summarizes the carrying amounts of accounts receivable as of December 31, 2024 and 2023 (in thousands):
20242023
Receivable from tenants$5,160 $7,298 
Receivable from non-tenants (1)7,094 824 
Straight-line rent receivable72,335 55,533 
Total$84,589 $63,655 
Allowance for Credit Losses
The following summarizes the activity within the allowance for credit losses related to mortgage notes, unfunded commitments and notes receivable for the years ended December 31, 2024 and 2023 (in thousands):
Mortgage notes receivableUnfunded commitments - mortgage notes receivableNotes receivableUnfunded commitments - notes receivableTotal
Allowance for credit losses at December 31, 2022$8,999 $751 $11,952 $— $21,702 
Provision (benefit) for credit losses, net2,428 321 (1,871)— 878 
Charge-offs(7,771)— (394)— (8,165)
Recoveries— — — — — 
Allowance for credit losses at December 31, 2023$3,656 $1,072 $9,687 $— $14,415 
Provision (benefit) for credit losses, net13,455 (332)(876)— 12,247 
Charge-offs— — — — — 
Recoveries— — — — — 
Allowance for credit losses at December 31, 2024$17,111 $740 $8,811 $— $26,662 
Financing Receivables Investment in Mortgage Notes and Notes Receivable
The Company measures expected credit losses on its mortgage notes and notes receivable on an individual basis because its financial instruments do not have similar risk characteristics. The Company uses a forward-looking commercial real estate loss forecasting tool to estimate its current expected credit losses (CECL) for each of its mortgage notes and notes receivable on a loan-by-loan basis. As of December 31, 2024, the Company did not anticipate any prepayments. Therefore, the contractual terms of its mortgage notes and notes receivable were used for the calculation of the expected credit losses. The Company updates the model inputs at each reporting period to reflect, if applicable, any newly originated loans, changes to specific loan information on existing loans and current macroeconomic conditions. The CECL allowance is a valuation account that is deducted from the related mortgage note or note receivable. Effective January 1, 2023, the Company adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.

Certain of the Company’s mortgage notes and notes receivable include commitments to fund future incremental amounts to its borrowers. These future funding commitments are also subject to the CECL model. The CECL allowance related to future funding is recorded as a liability and is included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets.
Investment in mortgage notes, including related accrued interest receivable, at December 31, 2024 and 2023 consists of the following (in thousands):
Year of OriginationInterest RateMaturity DatePeriodic Payment TermsOutstanding principal amount of mortgage at December 31, 2024Carrying amount as of December 31,Unfunded commitments
Description20242023December 31, 2024
Attraction property Powells Point, North Carolina20197.23 %6/30/2025Interest only$29,378 $29,173 $29,200 $— 
Eat & play property Eugene, Oregon20198.13 %12/31/2025Interest only10,750 10,417 10,417 — 
Fitness & wellness property Merriam, Kansas20198.15 %7/31/2029Interest only9,090 9,238 9,223 — 
Fitness & wellness property Omaha, Nebraska20179.25 %6/30/2030Interest only10,905 10,996 10,951 — 
Fitness & wellness property Omaha, Nebraska20169.25 %6/30/2030Interest only10,539 10,659 10,615 — 
Experiential lodging property Nashville, Tennessee20197.69 %9/30/2031Interest only70,000 71,041 71,187 — 
Ski property Girdwood, Alaska20198.79 %7/31/2032Interest only80,120 79,742 78,062 1,880 
Fitness & wellness properties Colorado and California20227.15 %1/10/2033Interest only64,252 64,275 59,207 298 
Eat & play property Austin, Texas201211.31 %6/1/2033Principal & Interest-fully amortizing9,083 9,083 9,701 — 
Eat & play property Dallas, Texas202310.25 %11/26/2033Interest only6,175 6,163 1,105 — 
Experiential lodging property Breaux Bridge, Louisiana (1)20227.25 %3/8/2034Interest only11,305 1,000 11,373 — 
Fitness & wellness property Glenwood Springs, Colorado20248.45 %8/16/2034Interest only52,000 51,892 — — 
Ski property West Dover and Wilmington, Vermont200712.50 %12/1/2034Interest only51,050 51,049 51,049 — 
Four ski properties Ohio and Pennsylvania200711.58 %12/1/2034Interest only37,562 37,430 37,495 — 
Ski property Chesterland, Ohio201212.07 %12/1/2034Interest only4,550 4,394 4,508 — 
Ski property Hunter, New York20169.19 %1/5/2036Interest only21,000 21,000 21,000 — 
Eat & play property Midvale, Utah201510.25 %5/31/2036Interest only17,505 17,505 17,505 — 
Eat & play property West Chester, Ohio20159.75 %8/1/2036Interest only18,068 18,068 18,067 — 
Fitness & wellness property Fort Collins, Colorado20188.00 %1/31/2038Interest only10,292 9,896 10,070 — 
Early childhood education center Lake Mary, Florida20198.35 %5/9/2039Interest only4,200 4,412 4,387 — 
Early childhood education center Lithia, Florida20179.11 %10/31/2039Interest only3,959 4,103 4,018 — 
Attraction property Frankenmuth, Michigan20228.25 %10/14/2042Interest only69,139 67,966 24,375 — 
Fitness & wellness properties Massachusetts and New York20238.30 %1/10/2044Interest only77,000 76,294 76,253 47,100 
Total$677,922 $665,796 $569,768 $49,278 

(1) During the fourth quarter of 2024, the Company made the decision to exit its unconsolidated equity investment in an operating RV property located in Breaux Bridge, Louisiana. The Company had previously provided an
$11.3 million subordinated mortgage note receivable to the joint venture. On February 4, 2025, the Company received $1.0 million in exchange for the sale of its remaining subordinated mortgage note receivable. Accordingly, during the fourth quarter of 2024, the Company recognized $10.3 million as a provision for credit loss. See Note 8 for further details on this mortgage note receivable.

Investment in notes receivable, including related accrued interest receivable, was $3.3 million and $3.9 million at December 31, 2024 and 2023, respectively, and is included in "Other assets" in the accompanying consolidated balance sheets.

At December 31, 2024, two of the Company's mortgage notes receivable and two of the Company's notes receivable are considered collateral-dependent. Expected credit losses are based on the fair value of the underlying collateral with the credit allowance being the difference between the outstanding principal balance of the notes and the estimated fair value at the reporting date. The Company assessed the fair value of the collateral as of December 31, 2024 on the mortgage notes receivable and the notes receivable. One mortgage note receivable has a carrying amount at December 31, 2024 of approximately $10.4 million net of an allowance for credit loss totaling $0.4 million. One mortgage note receivable has a carrying amount at December 31, 2024 of approximately $1.0 million net of an allowance for credit loss totaling $10.3 million. This mortgage note receivable became collateral dependent during the three months ended December 31, 2024 and is a subordinated loan due from an unconsolidated real estate joint venture. See Note 8 for more details. The two notes receivable remain fully reserved with an allowance for credit loss totaling $6.9 million and $1.9 million, respectively, which represents the outstanding principal balances of the notes as of December 31, 2024. Income from these borrowers is recognized on a cash basis. During the years ended December 31, 2024 and 2023, the Company received cash basis interest payments of $0.9 million for each period from the mortgage note receivable borrower and $0.7 million for each period from one of the note receivable borrowers. During the years ended December 31, 2024 and 2023, the Company received principal payments totaling $0.8 million and $0.7 million, respectively, from one of the note receivable borrowers.

At December 31, 2024, the Company's investment in one of the notes receivable was a variable interest investment and the underlying entity is a VIE. The Company is not the primary beneficiary of this VIE because the Company does not individually have the power to direct the activities that are most significant to the entity and accordingly, this investment is not consolidated. The Company's maximum exposure to loss associated with this VIE is limited to the Company's outstanding note receivable in the amount of $6.9 million, which is fully reserved in the allowance for credit losses at December 31, 2024.

The following summarizes the activity within the allowance for credit losses related to mortgage notes, unfunded commitments and notes receivable for the years ended December 31, 2024 and 2023 (in thousands):
Mortgage notes receivableUnfunded commitments - mortgage notes receivableNotes receivableUnfunded commitments - notes receivableTotal
Allowance for credit losses at December 31, 2022$8,999 $751 $11,952 $— $21,702 
Provision (benefit) for credit losses, net2,428 321 (1,871)— 878 
Charge-offs(7,771)— (394)— (8,165)
Recoveries— — — — — 
Allowance for credit losses at December 31, 2023$3,656 $1,072 $9,687 $— $14,415 
Provision (benefit) for credit losses, net13,455 (332)(876)— 12,247 
Charge-offs— — — — — 
Recoveries— — — — — 
Allowance for credit losses at December 31, 2024$17,111 $740 $8,811 $— $26,662