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Investments in Joint Ventures - Schedule of Investments in Multifamily Joint Ventures (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Total assets $ 728,485 $ 709,166 $ 701,084
Capital – Third Parties 423,103 414,520  
Total liabilities and equity 728,485 709,166  
Buzzard Point Sponsor, LLC      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 0 0  
Cash and restricted cash 0 0  
Unrealized rents & receivables 0 0  
Deferred costs 4,892 4,652  
Total assets 4,892 4,652  
Secured notes payable 0 0  
Other liabilities 0 0  
Capital – FRP 2,446 2,326  
Capital – Third Parties 2,446 2,326  
Total liabilities and equity 4,892 4,652  
Bryant Street Partnerships      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 180,928 187,616  
Cash and restricted cash 5,348 7,543  
Unrealized rents & receivables 6,708 6,737  
Deferred costs 1,406 738  
Total assets 194,390 202,634  
Secured notes payable 108,084 107,084  
Other liabilities 3,126 3,129  
Capital – FRP 63,241 69,779  
Capital – Third Parties 19,939 22,642  
Total liabilities and equity 194,390 202,634  
Estero Partnership      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 40,733 35,576  
Cash and restricted cash 613 3,076  
Unrealized rents & receivables 0 0  
Deferred costs 0 0  
Total assets 41,346 38,652  
Secured notes payable 16,000 16,000  
Other liabilities 856 0  
Capital – FRP 3,600 3,600  
Capital – Third Parties 20,890 19,052  
Total liabilities and equity 41,346 38,652  
Verge Partnership      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 124,010 128,154  
Cash and restricted cash 2,001 1,323  
Unrealized rents & receivables 250 403  
Deferred costs 138 293  
Total assets 126,399 130,173  
Secured notes payable 68,242 72,691  
Other liabilities 1,209 1,344  
Capital – FRP 34,874 34,391  
Capital – Third Parties 22,074 21,747  
Total liabilities and equity 126,399 130,173  
Greenville Partnerships      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 94,020 95,911  
Cash and restricted cash 3,104 2,000  
Unrealized rents & receivables 258 127  
Deferred costs 195 185  
Total assets 97,577 98,223  
Secured notes payable 79,829 66,434  
Other liabilities 2,158 3,867  
Capital – FRP 4,870 10,450  
Capital – Third Parties 10,720 17,472  
Total liabilities and equity 97,577 98,223  
Total Multifamily      
Schedule of Equity Method Investments [Line Items]      
Investments in real estate, net 439,691 447,257  
Cash and restricted cash 11,066 13,942  
Unrealized rents & receivables 7,216 7,267  
Deferred costs 6,631 5,868  
Total assets 464,604 474,334  
Secured notes payable 272,155 262,209  
Other liabilities 7,349 8,340  
Capital – FRP 109,031 120,546  
Capital – Third Parties 76,069 83,239  
Total liabilities and equity $ 464,604 $ 474,334