v3.26.1
Segments - Segment Operating Results (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segments reporting    
Total revenues $ 235,917 $ 199,328
Operating costs (53,033) (50,789)
Rental property real estate taxes (16,228) (15,299)
(Provision for) recovery of doubtful accounts 59 156
Depreciation and amortization (48,640) (45,139)
Other income (loss), net 127 (1,367)
Equity in earnings (losses) from unconsolidated ventures (2,640) 1,320
Gain (loss) on sale or disposal of real estate and other assets, net 0 13,729
Income (loss) before income taxes 11,292 15,496
Condominium rights and unit sales    
Segments reporting    
Cost of sales (3,134) (242)
Master Planned Communities land sales    
Segments reporting    
Cost of sales (34,742) (25,214)
Operating Assets: | Operating Segments    
Segments reporting    
Total revenues 119,202 114,002
Operating costs (35,277) (34,222)
Rental property real estate taxes (15,707) (14,751)
(Provision for) recovery of doubtful accounts 59 156
Segment operating income (loss) 68,277 65,185
Depreciation and amortization (45,578) (43,123)
Interest income (expense), net (33,507) (34,218)
Other income (loss), net 19 (196)
Equity in earnings (losses) from unconsolidated ventures 5,877 4,643
Gain (loss) on sale or disposal of real estate and other assets, net   9,979
Income (loss) before income taxes (4,912) 2,270
Operating Assets: | Operating Segments | Condominium rights and unit sales    
Segments reporting    
Cost of sales 0 0
Operating Assets: | Operating Segments | Master Planned Communities land sales    
Segments reporting    
Cost of sales 0 0
MPC Segment | Operating Segments    
Segments reporting    
Total revenues 112,281 84,454
Operating costs (13,135) (12,991)
Rental property real estate taxes 0 0
(Provision for) recovery of doubtful accounts 0 0
Segment operating income (loss) 64,404 46,249
Depreciation and amortization (65) (111)
Interest income (expense), net 21,712 16,786
Other income (loss), net 1,860 0
Equity in earnings (losses) from unconsolidated ventures (3,535) (3,410)
Gain (loss) on sale or disposal of real estate and other assets, net   3,750
Income (loss) before income taxes 84,376 63,264
MPC Segment | Operating Segments | Condominium rights and unit sales    
Segments reporting    
Cost of sales 0 0
MPC Segment | Operating Segments | Master Planned Communities land sales    
Segments reporting    
Cost of sales (34,742) (25,214)
Strategic Developments Segment | Operating Segments    
Segments reporting    
Total revenues 4,407 854
Operating costs (4,434) (3,576)
Rental property real estate taxes (521) (548)
(Provision for) recovery of doubtful accounts 0 0
Segment operating income (loss) (3,682) (3,512)
Depreciation and amortization (2,057) (1,158)
Interest income (expense), net 4,974 4,646
Other income (loss), net (889) (1,262)
Equity in earnings (losses) from unconsolidated ventures (4,982) 87
Gain (loss) on sale or disposal of real estate and other assets, net   0
Income (loss) before income taxes (6,636) (1,199)
Strategic Developments Segment | Operating Segments | Condominium rights and unit sales    
Segments reporting    
Cost of sales (3,134) (242)
Strategic Developments Segment | Operating Segments | Master Planned Communities land sales    
Segments reporting    
Cost of sales $ 0 $ 0