CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net (loss) income	$ (1,986)	$ 417,597
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	5,050	4,039
Stock based compensation	150	160
Loss on sale of investments	0	833
Equity in loss in from unconsolidated affiliates	0	21
Deferred income tax	894	51,022
Cost of real estate sold	8,902	71,623
Expenditures for and acquisition of real estate to be sold	(4,244)	(3,505)
Notes receivable financed by the Company for operating properties sold	0	(19,600)
Timber Note	0	(200,000)
Deferred revenue	(64)	(13,432)
Accretion income and other	(1,213)	(766)
Changes in operating assets and liabilities:
Payments received on notes receivables	21,209	1,519
Other assets	(1,079)	(5,078)
Accounts payable and accrued liabilities	10,569	7,576
Income taxes (receivable) payable	(143)	28,594
Net cash provided by operating activities	38,045	340,603
Cash flows from investing activities:
Expenditures for Pier Park North joint venture	(4,173)	(12,973)
Purchases of property and equipment	(1,550)	(1,509)
Purchases of investments	(184,520)	(549,535)
Maturities of investments	310,415	60,000
Sales of investments	140,107	8,239
Sales of restricted investments	877	0
Investment in assets held by special purpose entities	0	(6,921)
Contributions to unconsolidated affiliates	0	(148)
Net cash provided by (used in) investing activities	261,156	(502,847)
Cash flows from financing activities:
Borrowings on construction loan in Pier Park joint venture	4,507	15,971
Principal payments for long term debt	(251)	(478)
Issuance of Senior Notes by special purpose entity net of discount and issuance costs of $4.3 million for 2014	0	175,740
Net cash provided by financing activities	4,256	191,233
Net increase in cash and cash equivalents	303,457	28,989
Cash and cash equivalents at beginning of the period	34,515	21,894
Cash and cash equivalents at end of the period	337,972	50,883
Cash paid during the period for:
Interest expense	4,908	1,096
Income taxes	0	35,979
Non-cash financing and investing activities:
Increase (decrease) in Community Development District debt	529	(5,164)
Decrease in pledged treasury securities related to defeased debt	310	293
Expenditures for investing properties and property and equipment financed through accounts payable	1,133	825
Exchange of Timber Note for investments held by special purpose entity	0	200,000
Capital contributions to special purpose entity from non-controlling interest	$ 0	$ 3,492