Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Finance Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments under non-cancellable leases as of December 31, 2021 where we are the lessee include:

Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2022	$	9,978	$	194	$	10,172
2023	9,858		146		10,004
2024	10,204		4,068		14,272
2025	10,157		—		10,157
2026	9,067		—		9,067
Thereafter	188,478		—		188,478
Total Lease Payments	$	237,742	$	4,408	$	242,150
Less: Imputed interest	(108,567)		(255)		(108,822)
Present Value of Lease Liabilities	$	129,175	$	4,153	$	133,328

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments under non-cancellable leases as of December 31, 2021 where we are the lessee include:

Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2022	$	9,978	$	194	$	10,172
2023	9,858		146		10,004
2024	10,204		4,068		14,272
2025	10,157		—		10,157
2026	9,067		—		9,067
Thereafter	188,478		—		188,478
Total Lease Payments	$	237,742	$	4,408	$	242,150
Less: Imputed interest	(108,567)		(255)		(108,822)
Present Value of Lease Liabilities	$	129,175	$	4,153	$	133,328

Lease, Cost [Table Text Block]

Right-of-use (ROU) assets and lease liabilities for finance and operating leases as included in our Consolidated Balance Sheets are as follows (in thousands):

	Financial Statement Classification	As of
Description		December 31, 2021		December 31, 2020
Lease Assets
ROU asset obtained in exchange for new finance lease liabilities	Investment property, net	$	4,278	$	4,350
ROU asset obtained in exchange for new operating lease liabilities	Other assets, net	$	138,232	$	48,419
ROU asset obtained relative to below market operating lease	Other assets, net	$	93,058	$	27,614
Lease Liabilities
Finance lease liabilities	Other liabilities	$	4,153	$	4,334
Operating lease liabilities	Other liabilities	$	129,175	$	49,964

Lease expense for finance and operating leases, and short term lease cost as included in our Consolidated Statements of Operations are as follows (in thousands):

		Year Ended
Description	Financial Statement Classification	December 31, 2021		December 31, 2020		December 31, 2019
Finance Lease Expense
Interest on lease liabilities	Interest expense	$	214	$	104	$	103
Operating lease cost	General and administrative expense, Property operating and maintenance	11,334		4,255		3,474
Variable lease cost	Property operating and maintenance	6,609		2,328		1,584
Short term lease cost	Property operating and maintenance	233		17		—
Total Lease Expense		$	18,390	$	6,704	$	5,161

The components of lease income for our operating leases, as included in our Consolidated Statements of Operations are as follows (in thousands):

		Year Ended
Description	Financial Statement Classification	December 31, 2021		December 31, 2020		December 31, 2019
Operating Leases
Fixed lease income	Income from real property; Brokerage commissions and other revenue, net	$	23,041	$	3,319	$	1,246
Variable lease income(1)	Income from real property; Brokerage commissions and other revenue, net	$	5,736	$	2,027	$	772

(1)Consists of rent primarily based on a percentage of acquisition costs and net operating income.

Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity

Future minimum lease payments under non-cancellable leases at our RV resorts and marinas at the year ended December 31, 2021 where we are the lessor include:

Maturity of Lease Payments (in thousands)	Operating Leases
2022	$	21,800
2023	18,020
2024	9,334
2025	5,212
2026	1,629
Thereafter	4,731
Total Undiscounted Cash Flows	$	60,726