Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Significant Accounting Policies

Schedule of revenue disaggregated by segment, good or service and timing

The following represents revenue disaggregated by segment, good or service and timing:

	Year Ended December 31, 2019
						Commercial
		Residential				Leasing
		Real Estate		Hospitality		and Sales		Forestry		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	41,055	$	—	$	7,799	$	11,678	$	956	$	61,488
Hospitality revenue		496		45,616		—		—		—		46,112
Leasing revenue		35		104		14,659		783		—		15,581
Timber revenue		—		—		—		3,904		—		3,904
Total revenue	$	41,586	$	45,720	$	22,458	$	16,365	$	956	$	127,085
Timing of Revenue Recognition:
Recognized at a point in time	$	41,551	$	42,864	$	7,799	$	15,582	$	956	$	108,752
Recognized over time		—		2,752		—		—		—		2,752
Over lease term		35		104		14,659		783		—		15,581
Total revenue	$	41,586	$	45,720	$	22,458	$	16,365	$	956	$	127,085

	Year Ended December 31, 2018
						Commercial
		Residential				Leasing
		Real Estate		Hospitality		and Sales		Forestry		Other		Total
Revenue by Major Good/Service:
Real estate revenue (a)	$	42,761	$	—	$	4,801	$	1,807	$	2,814	$	52,183
Hospitality revenue		397		38,339		—		—		—		38,736
Leasing revenue		—		1,237		11,684		806		—		13,727
Timber revenue		108		—		—		5,522		—		5,630
Total revenue	$	43,266	$	39,576	$	16,485	$	8,135	$	2,814	$	110,276
Timing of Revenue Recognition:
Recognized at a point in time	$	43,266	$	36,303	$	4,801	$	7,329	$	2,814	$	94,513
Recognized over time		—		2,036		—		—		—		2,036
Over lease term		—		1,237		11,684		806		—		13,727
Total revenue	$	43,266	$	39,576	$	16,485	$	8,135	$	2,814	$	110,276

(a) Residential real estate revenue includes revenue of $23.1 million in 2018 for a one-time receipt of RiverTown impact fees related to the 2014 RiverTown transaction. See Note 19. RiverTown Impact Fees.

Investment in real estate, net

Significant Accounting Policies

Schedule of estimated economic lives

	Estimated Useful
	Life (in years)
Land	N/A
Land improvements	15 - 20
Buildings	20-40
Building improvements	5-25
Timber	N/A

Property and equipment, net

Significant Accounting Policies

Schedule of estimated economic lives

	Estimated Useful
	Life (in years)
Railroad and equipment	15-30
Furniture and fixtures	5-10
Machinery and equipment	3-10
Office equipment	5-10
Autos, trucks and aircraft	5  -10