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Debt, Net - Schedule of Debt (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended 60 Months Ended 180 Months Ended
Feb. 28, 2023
Mar. 31, 2023
Dec. 31, 2022
Oct. 31, 2028
Nov. 30, 2042
Apr. 30, 2027
Debt instruments            
Outstanding debt   $ 426,777 $ 391,411      
Unamortized discount and debt issuance costs   (6,088) (5,551)      
Debt, Net   $ 420,689 385,860      
Weighted average effective interest rate of outstanding debt (as a percent)   5.00%        
Percentage of debt outstanding at fixed interest rates   69.90%        
Average remaining life of debt outstanding   17 years 9 months 18 days        
Watersound Origins Crossings JV Loan (insured by HUD)            
Debt instruments            
Debt interest rate (as a percent)   5.00%        
Effective interest rate (as a percent)   5.00%        
Outstanding debt $ 44,000 $ 52,926 $ 44,015      
Watersound Origins Crossings JV Loan (insured by HUD) | SOFR            
Debt instruments            
Basis spread on variable rate (as a percent)     2.80%      
Pier Park Resort Hotel JV Loan            
Debt instruments            
Effective interest rate (as a percent)   4.00%        
Outstanding debt   $ 52,500 $ 45,209      
Pier Park Resort Hotel JV Loan | Interest Rate Swap            
Debt instruments            
Notional amount     $ 42,000      
Fixed interest rate (as a percent) 3.30%   3.30%      
Pier Park Resort Hotel JV Loan | Interest Rate Swap | Forecast            
Debt instruments            
Notional amount           $ 38,700
Pier Park Resort Hotel JV Loan | SOFR            
Debt instruments            
Basis spread on variable rate (as a percent) 2.10% 2.10%        
Pier Park Resort Hotel JV Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)     2.20%      
PPN JV Loan            
Debt instruments            
Effective interest rate (as a percent)   4.10%        
Outstanding debt   $ 42,291 $ 42,555      
Pearl Hotel Loan            
Debt instruments            
Effective interest rate (as a percent)   6.30%        
Outstanding debt   $ 36,630 37,000      
PPC JV Loan (insured by HUD)            
Debt instruments            
Effective interest rate (as a percent)   3.10%        
Outstanding debt   $ 35,055 35,180      
Mexico Beach Crossings JV Loan (insured by HUD)            
Debt instruments            
Effective interest rate (as a percent)   3.00%        
Outstanding debt   $ 32,769 23,374      
PPC II JV Loan (insured by HUD)            
Debt instruments            
Effective interest rate (as a percent)   2.70%        
Outstanding debt   $ 22,522 22,623      
Watercrest JV Loan            
Debt instruments            
Effective interest rate (as a percent)   7.10%        
Outstanding debt   $ 20,925 $ 21,038      
Watercrest JV Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.20% 2.20%      
North Bay Landing Loan            
Debt instruments            
Floor rate (as a percent)   3.20% 3.20%      
Effective interest rate (as a percent)   7.30%        
Outstanding debt   $ 19,595 $ 18,222      
North Bay Landing Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.50% 2.50%      
Watersound Camp Creek Loan            
Debt instruments            
Floor rate (as a percent) 2.60% 2.60% 2.60%      
Effective interest rate (as a percent)   7.00%        
Outstanding debt   $ 16,772 $ 13,131      
Watersound Camp Creek Loan | SOFR            
Debt instruments            
Basis spread on variable rate (as a percent) 2.10% 2.10%        
Watersound Camp Creek Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)     2.10%      
Breakfast Point Hotel Loan            
Debt instruments            
Effective interest rate (as a percent)   6.00%        
Outstanding debt   $ 16,266 $ 16,376      
Breakfast Point Hotel Loan | Treasury - 1 year Constant Maturity | Forecast            
Debt instruments            
Basis spread on variable rate (as a percent)         3.30%  
Breakfast Point Hotel Loan | Treasury - 1 year Constant Maturity | Minimum | Forecast            
Debt instruments            
Interest rate during period (as a percent)         6.00%  
Airport Hotel Loan            
Debt instruments            
Floor rate (as a percent)   3.00% 3.00%      
Effective interest rate (as a percent)   6.90%        
Outstanding debt   $ 14,642 $ 14,642      
Airport Hotel Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.00% 2.00%      
Hotel Indigo Loan            
Debt instruments            
Floor rate (as a percent)   2.70% 2.70%      
Effective interest rate (as a percent)   7.60%        
Outstanding debt   $ 14,189 $ 10,427      
Hotel Indigo Loan | Forecast            
Debt instruments            
Floor rate (as a percent)       2.50%    
Hotel Indigo Loan | SOFR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.70% 2.70%      
Hotel Indigo Loan | SOFR | Forecast            
Debt instruments            
Basis spread on variable rate (as a percent)       2.50%    
Lodge 30A JV Loan            
Debt instruments            
Effective interest rate (as a percent)   3.80%        
Outstanding debt   $ 13,707 $ 13,304      
Watersound Town Center Grocery Loan            
Debt instruments            
Floor rate (as a percent)   2.20% 2.20%      
Effective interest rate (as a percent)   6.80%        
Outstanding debt   $ 10,579 $ 11,379      
Watersound Town Center Grocery Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.00% 2.00%      
Topsail Hotel Loan            
Debt instruments            
Floor rate (as a percent)   3.00% 3.00%      
Effective interest rate (as a percent)   7.00%        
Outstanding debt   $ 7,855 $ 5,199      
Topsail Hotel Loan | SOFR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.10% 2.10%      
Beckrich Building III Loan            
Debt instruments            
Effective interest rate (as a percent)   6.60%        
Outstanding debt   $ 5,014 $ 5,020      
Beckrich Building III Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   1.70% 1.70%      
Self-Storage Facility Loan            
Debt instruments            
Floor rate (as a percent)   2.90% 2.90%      
Effective interest rate (as a percent)   7.20%        
Outstanding debt   $ 4,666 $ 4,666      
Self-Storage Facility Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   2.40% 2.40%      
Community Development District debt            
Debt instruments            
Outstanding debt   $ 3,972 $ 4,113      
Community Development District debt | Minimum            
Debt instruments            
Effective interest rate (as a percent)   3.60%        
Community Development District debt | Maximum            
Debt instruments            
Effective interest rate (as a percent)   6.00%        
Beach Homes Loan            
Debt instruments            
Effective interest rate (as a percent)   6.60%        
Outstanding debt   $ 1,438 $ 1,447      
Beach Homes Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   1.70% 1.70%      
Pier Park Outparcel Loan            
Debt instruments            
Effective interest rate (as a percent)   6.60%        
Outstanding debt   $ 1,292 $ 1,300      
Pier Park Outparcel Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   1.70% 1.70%      
WaterColor Crossings Loan            
Debt instruments            
Effective interest rate (as a percent)   6.60%        
Outstanding debt   $ 1,172 $ 1,191      
WaterColor Crossings Loan | LIBOR            
Debt instruments            
Basis spread on variable rate (as a percent)   1.70% 1.70%