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Investments in Joint Ventures - Schedule of Investments in Multifamily Joint Ventures (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]    
Total assets $ 717,123 $ 728,485
Capital – Third Parties 425,170 423,103
Total liabilities and equity 717,123 728,485
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 4,912 4,892
Total assets 4,912 4,892
Secured notes payable 0 0
Other liabilities 0 0
Capital – FRP 2,456 2,446
Capital – Third Parties 2,456 2,446
Total liabilities and equity 4,912 4,892
Bryant Street Partnerships    
Schedule of Equity Method Investments [Line Items]    
Investments in real estate, net 179,276 180,928
Cash and restricted cash 4,812 5,348
Unrealized rents & receivables 6,793 6,708
Deferred costs 1,265 1,406
Total assets 192,146 194,390
Secured notes payable 108,014 108,084
Other liabilities 2,646 3,126
Capital – FRP 61,984 63,241
Capital – Third Parties 19,502 19,939
Total liabilities and equity 192,146 194,390
Estero Partnership    
Schedule of Equity Method Investments [Line Items]    
Investments in real estate, net 41,347 40,733
Cash and restricted cash 258 613
Unrealized rents & receivables 0 0
Deferred costs 0 0
Total assets 41,605 41,346
Secured notes payable 16,000 16,000
Other liabilities 54 856
Capital – FRP 3,600 3,600
Capital – Third Parties 21,951 20,890
Total liabilities and equity 41,605 41,346
The Verge Partnership    
Schedule of Equity Method Investments [Line Items]    
Investments in real estate, net 122,967 124,010
Cash and restricted cash 1,954 2,001
Unrealized rents & receivables 244 250
Deferred costs 116 138
Total assets 125,281 126,399
Secured notes payable 68,306 68,242
Other liabilities 954 1,209
Capital – FRP 34,305 34,874
Capital – Third Parties 21,716 22,074
Total liabilities and equity 125,281 126,399
Greenville Partnerships    
Schedule of Equity Method Investments [Line Items]    
Investments in real estate, net 93,294 94,020
Cash and restricted cash 2,025 3,104
Unrealized rents & receivables 92 258
Deferred costs 136 195
Total assets 95,547 97,577
Secured notes payable 79,896 79,829
Other liabilities 1,353 2,158
Capital – FRP 3,970 4,870
Capital – Third Parties 10,328 10,720
Total liabilities and equity 95,547 97,577
Total Multifamily JV’s    
Schedule of Equity Method Investments [Line Items]    
Investments in real estate, net 436,884 439,691
Cash and restricted cash 9,049 11,066
Unrealized rents & receivables 7,129 7,216
Deferred costs 6,429 6,631
Total assets 459,491 464,604
Secured notes payable 272,216 272,155
Other liabilities 5,007 7,349
Capital – FRP 106,315 109,031
Capital – Third Parties 75,953 76,069
Total liabilities and equity $ 459,491 $ 464,604