Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Significant Accounting Policies

Schedule of computation of basic and diluted earnings per share

The computation of basic and diluted earnings per share are as follows:

	Year Ended December 31,
	2023		2022		2021
Income
Net income attributable to the Company	$	77,712	$	70,927	$	74,553
Shares
Weighted average shares outstanding - basic		58,312,878		58,720,050		58,882,549
Incremental shares from restricted stock		11,376		1,288		—
Weighted average shares outstanding - diluted		58,324,254		58,721,338		58,882,549
Net income per share attributable to the Company
Basic income per share	$	1.33	$	1.21	$	1.27
Diluted income per share	$	1.33	$	1.21	$	1.27

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, 2023
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	155,702	$	—	$	26,180	$	4,126	$	186,008
Hospitality revenue		—		152,437		4		—		152,441
Leasing revenue		118		2,137		48,253		328		50,836
Total revenue	$	155,820	$	154,574	$	74,437	$	4,454	$	389,285
Timing of Revenue Recognition:
Recognized at a point in time	$	155,702	$	117,982	$	26,184	$	4,126	$	303,994
Recognized over time		—		34,455		—		—		34,455
Over lease term		118		2,137		48,253		328		50,836
Total revenue	$	155,820	$	154,574	$	74,437	$	4,454	$	389,285

	Year Ended December 31, 2022
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	92,804	$	—	$	20,384	$	2,677	$	115,865
Hospitality revenue		—		96,731		529		—		97,260
Leasing revenue		82		505		38,466		143		39,196
Total revenue	$	92,886	$	97,236	$	59,379	$	2,820	$	252,321
Timing of Revenue Recognition:
Recognized at a point in time	$	92,804	$	68,653	$	20,913	$	2,677	$	185,047
Recognized over time		—		28,078		—		—		28,078
Over lease term		82		505		38,466		143		39,196
Total revenue	$	92,886	$	97,236	$	59,379	$	2,820	$	252,321

	Year Ended December 31, 2021
	Residential		Hospitality		Commercial		Other		Total
Revenue by Major Good/Service:
Real estate revenue	$	144,664	$	—	$	18,023	$	1,963	$	164,650
Hospitality revenue		—		74,538		727		—		75,265
Leasing revenue		190		53		26,807		31		27,081
Total revenue	$	144,854	$	74,591	$	45,557	$	1,994	$	266,996
Timing of Revenue Recognition:
Recognized at a point in time	$	144,664	$	55,181	$	18,750	$	1,963	$	220,558
Recognized over time		—		19,357		—		—		19,357
Over lease term		190		53		26,807		31		27,081
Total revenue	$	144,854	$	74,591	$	45,557	$	1,994	$	266,996

Investment in real estate, net

Significant Accounting Policies

Schedule of estimated economic life

	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 life

	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