Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

Real Estate [Abstract]

Real Estate by Property Type and Segment

Real estate by property type and segment includes the following:

	December 31, 2015		December 31, 2014
Development property:
Residential real estate	$	99,413	$	102,408
Commercial real estate	56,587		59,405
Leasing operations (1)	360		3,680
Forestry	2,681		3,278
Corporate	2,211		2,019
Total development property	161,252		170,790
Operating property:
Residential real estate	$	8,091	$	8,084
Resorts and leisure	109,425		110,136
Leasing operations (2)	79,550		72,045
Forestry	19,300		18,839
Other	50		50
Total operating property	216,416		209,154
Less: Accumulated depreciation	64,069		58,132
Net operating property	152,347		151,022
Investment in real estate, net	$	313,599	$	321,812

(1	)	Includes $0.3 million and $3.1 million for the Pier Park North joint venture as of December 31, 2015 and 2014, respectively.
(2	)	Includes $49.0 million and $41.6 million for the Pier Park North joint venture as of December 31, 2015 and 2014, respectively.

Property, Plant and Equipment

Operating property includes the following components:

	December 31, 2015		December 31, 2014		Estimated Useful Life (in years)
Land and land improvements	$	73,161	$	72,286	5 - 20
Buildings and building improvements	133,399		127,577		20 - 40
Timber	9,856		9,291		N/A
	216,416		209,154
Less: Accumulated depreciation	64,069		58,132
Total operating property, net	$	152,347	$	151,022

Property and equipment, net consists of the following:

	December 31, 2015		December 31, 2014		Estimated Useful Life (in years)
Railroad and equipment	$	33,626	$	33,627	15-30
Machinery and equipment	15,587		16,498		3-10
Office equipment	16,662		18,844		3-10
Autos and trucks	1,044		866		3-10
	66,919		69,835
Less: Accumulated depreciation	57,103		60,284
	9,816		9,551
Construction in progress	329		652
Total property and equipment, net	$	10,145	$	10,203