Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Related Party Transactions | |
| Related Party Transactions | 18. Related Party Transactions The Company provides mitigation bank credits, impact and other fees, property for lease and services to certain unconsolidated JVs. During the three and six months ended June 30, 2025, the Company recognized $0.7 million and $1.6 million, respectively, related to revenue from these transactions. During both the three and six months ended June 30, 2024, the Company recognized $1.5 million, related to revenue from these transactions. As of June 30, 2025 and December 31, 2024, receivables from unconsolidated JVs were $0.4 million and less than $0.1 million, respectively. The Watersound Management JV provides leasing management services for the Company’s multi-family communities. The Company incurred expense related to these transactions of $0.6 million during each of the three months ended June 30, 2025 and 2024, respectively, and $1.3 million and $1.2 million during the six months ended June 30, 2025 and 2024, respectively. See Note 4. Joint Ventures for additional information. The Company incurred land development and planning costs reimbursements to the Latitude Margaritaville Watersound JV of $0.6 million and $0.8 million during the three months ended June 30, 2025 and 2024, respectively, and $1.1 million and $1.6 million during the six months ended June 30, 2025 and 2024, respectively, which were primarily included in investment in real estate, net on the condensed consolidated balance sheets. As of June 30, 2025 and December 31, 2024, $0.1 million and $0.5 million, respectively, were payable to the Latitude Margaritaville Watersound JV. See Note 4. Joint Ventures for additional information.
|