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Real Estate Activity (Tables) | 12 Months Ended
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Dec. 31, 2024
Real Estate [Abstract] |
Schedule of Real Estate Investment | At December 31, 2024 and 2023, our real estate investment is comprised of the following:
| December 31,
| 2024 |  | 2023
Land | $ | 104,076 |  |  | $ | 104,156 |
Building and improvements | 375,430 |  |  | 372,399 |
Tenant improvements | 16,629 |  |  | 16,286 |
Construction in progress | 140,046 |  |  | 76,110 |
Total cost | 636,181 |  |  | 568,951 |
Less accumulated deprecation | (78,793) |  |  | (67,365) |
Total real estate | $ | 557,388 |  |  | $ | 501,586 |
Schedule of Gain (Loss) on Real Estate Transactions | (Loss) gain on real estate transactions consists of the following:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Land(1) | $ | 1,095 |  |  | $ | 188 |  |  | $ | 4,752 |
Residential properties(2) | — |  |  | — |  |  | 83,758 |
Commercial properties(3) | — |  |  | — |  |  | 686 |
Other(4) | (25,084) |  |  | (2,111) |  |  | (2,064) |
| $ | (23,989) |  |  | $ | (1,923) |  |  | $ | 87,132 |
(1)Includes the sale of lots related to our investment in Windmill Farms, Mercer Crossing and other land holdings. (2)On January 14, 2022, we sold Toulon, a 240 unit multifamily property in Gautier, Mississippi for $26,750, resulting in a gain on sale of $9,364. We used the proceeds from the sale to pay off the $14,740 mortgage note payable on the property and for general corporate purposes. On September 16, 2022, in connection with the sale of properties by VAA (See Note 10 - Investment in Unconsolidated Joint Ventures), we sold Sugar Mill Phase III, a 72 unit multifamily property in Baton Rouge, Louisiana for $11,800, resulting in a gain on sale of $1,871. We used the proceeds from the sale to pay off the $9,551 mortgage note payable on the property and for general corporate purposes. On November 1, 2022, we acquired control of the VAA Holdback Portfolio VAA (See Note 10 – Investment in Unconsolidated Joint Ventures), which resulted in a $73,187 gain on remeasurement of assets. (3)On May 17, 2022, we sold Fruitland Park, a 6,722 square foot commercial building in Fruitland Park, Florida for $750, resulting in a gain on sale of $667. We used the proceeds from the sale for general corporate purposes. (4)On October 31, 2024, we paid $23,400 to Clapper to resolve all claims related to real estate dispute (See Note 19 – Commitments and Contingencies). Other amounts i nclude write-off of development costs.

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- Definition Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments. + References No definition available. + Details
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