Debt, Net - Schedule of Debt (Details) - USD ($) $ in Thousands	1 Months Ended	10 Months Ended	12 Months Ended		180 Months Ended
	Feb. 28, 2023	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2042	Apr. 30, 2027	Mar. 31, 2023
Debt instruments
Outstanding debt principal			$ 459,221	$ 391,411
Unamortized discount and debt issuance costs			(5,581)	(5,551)
Debt, Net			$ 453,640	385,860
Weighted average effective interest rate of outstanding debt (as a percent)			5.30%
Percentage of debt outstanding at fixed interest rates			66.20%
Average remaining life of debt outstanding			17 years 2 months 12 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 principal			$ 52,546	$ 44,015			$ 52,900
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)			4.10%
Outstanding debt principal			$ 51,888	$ 45,209
Pier Park Resort Hotel JV Loan | Interest rate swap
Debt instruments
Notional amount			$ 42,000
Fixed interest rate (as a percent)			3.20%
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%
Mexico Beach Crossings JV Loan (insured by HUD)
Debt instruments
Effective interest rate (as a percent)			3.00%
Outstanding debt principal			$ 42,405	$ 23,374
PPN JV Loan
Debt instruments
Effective interest rate (as a percent)			4.10%
Outstanding debt principal			$ 41,485	42,555
Pearl Hotel Loan
Debt instruments
Effective interest rate (as a percent)			6.30%
Outstanding debt principal			$ 35,520	37,000
PPC JV Loan (insured by HUD)
Debt instruments
Effective interest rate (as a percent)			3.10%
Outstanding debt principal			$ 34,675	35,180
Watersound Camp Creek Loan
Debt instruments
Floor rate (as a percent)	2.60%		2.60%
Effective interest rate (as a percent)			7.50%
Outstanding debt principal			$ 27,999	$ 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%
North Bay Landing Loan
Debt instruments
Floor rate (as a percent)			3.30%
Effective interest rate (as a percent)			7.90%
Outstanding debt principal			$ 26,750	$ 18,222
North Bay Landing Loan | Upon reaching certain debt service coverage ratio
Debt instruments
Floor rate (as a percent)			3.10%
North Bay Landing Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.60%
North Bay Landing Loan | SOFR | Upon reaching certain debt service coverage ratio
Debt instruments
Basis spread on variable rate (as a percent)			2.40%
PPC II JV Loan (insured by HUD)
Debt instruments
Effective interest rate (as a percent)			2.70%
Outstanding debt principal			$ 22,215	22,623
Hotel Indigo Loan
Debt instruments
Floor rate (as a percent)		2.70%	2.50%
Effective interest rate (as a percent)			7.80%
Outstanding debt principal			$ 20,690	10,427
Hotel Indigo Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)		2.70%	2.50%
Watercrest JV Loan
Debt instruments
Effective interest rate (as a percent)			7.60%
Outstanding debt principal			$ 20,074	21,038
Watercrest JV Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.20%
Breakfast Point Hotel Loan
Debt instruments
Effective interest rate (as a percent)			6.00%
Outstanding debt principal			$ 15,937	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%
Lodge 30A JV Loan
Debt instruments
Effective interest rate (as a percent)			3.80%
Outstanding debt principal			$ 14,655	13,304
Airport Hotel Loan
Debt instruments
Floor rate (as a percent)			3.00%
Effective interest rate (as a percent)			7.50%
Outstanding debt principal			$ 13,010	14,642
Airport Hotel Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.10%
Topsail Hotel Loan
Debt instruments
Floor rate (as a percent)			3.00%
Effective interest rate (as a percent)			7.50%
Outstanding debt principal			$ 12,307	5,199
Topsail Hotel Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.10%
Watersound Town Center Grocery Loan
Debt instruments
Floor rate (as a percent)			2.30%
Effective interest rate (as a percent)			7.40%
Outstanding debt principal			$ 10,531	11,379
Watersound Town Center Grocery Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.10%
Beckrich Building III Loan
Debt instruments
Effective interest rate (as a percent)			7.20%
Outstanding debt principal			$ 5,014	5,020
Beckrich Building III Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			1.80%
Self-Storage Facility Loan
Debt instruments
Floor rate (as a percent)			2.90%
Effective interest rate (as a percent)			7.80%
Outstanding debt principal			$ 4,666	4,666
Self-Storage Facility Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			2.50%
Community Development District debt
Debt instruments
Outstanding debt principal			$ 3,046	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)			7.10%
Outstanding debt principal			$ 1,416	1,447
Beach Homes Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			1.70%
Pier Park Outparcel Loan
Debt instruments
Effective interest rate (as a percent)			7.20%
Outstanding debt principal			$ 1,275	1,300
Pier Park Outparcel Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			1.80%
WaterColor Crossings Loan
Debt instruments
Effective interest rate (as a percent)			7.20%
Outstanding debt principal			$ 1,117	$ 1,191
WaterColor Crossings Loan | SOFR
Debt instruments
Basis spread on variable rate (as a percent)			1.80%