v3.26.1
SEGMENT REPORTING - Schedule of Revenues and Profit (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Revenues $ 13,902 $ 7,473 $ 27,483 $ 20,630
Less:        
Selling, general, and administrative 14,294 15,586 29,043 30,351
Other segment items (35,913) (19,019) (39,005) (84,274)
NET INCOME 29,934 8,576 24,964 69,162
Other segment disclosures:        
Depreciation and amortization 1,097 548 1,999 1,856
Interest income 2,659 4,967 5,926 9,017
Expenditures for long-lived assets, net 48,101 50,799 81,252 102,615
Income tax (provision) benefit (6,207) (1,341) (5,265) (10,863)
Land sales        
Less:        
Cost and expenses 0 0 0 0
Land sales | Related Party        
Segment Reporting [Line Items]        
Revenues (1,211) 0 (1,211) 0
Management services        
Less:        
Cost and expenses 5,587 2,330 12,481 5,391
Management services | Related Party        
Segment Reporting [Line Items]        
Revenues 14,712 6,959 27,696 19,510
Less:        
Cost and expenses 0 0 0 0
Valencia        
Segment Reporting [Line Items]        
Revenues (990) 342 (570) 774
San Francisco        
Segment Reporting [Line Items]        
Revenues 180 172 357 346
Great Park        
Segment Reporting [Line Items]        
Revenues 9,132 6,959 15,988 19,510
Operating Segments | Total Operating Segments        
Segment Reporting [Line Items]        
Revenues 175,573 79,715 192,761 378,275
Less:        
Selling, general, and administrative 6,190 6,099 11,401 13,318
Other segment items (1,172) (170) (2,593) (1,380)
NET INCOME 118,330 47,681 117,704 259,097
Other segment disclosures:        
Depreciation and amortization 1,041 487 1,887 1,732
Interest income 1,640 1,711 3,524 3,419
Expenditures for long-lived assets, net 68,402 51,617 99,091 138,578
Operating Segments | Total Operating Segments | Land sales        
Less:        
Cost and expenses 37,622 16,022 37,622 86,238
Operating Segments | Total Operating Segments | Management services        
Less:        
Cost and expenses 5,587 2,330 12,481 5,391
Operating Segments | Total Operating Segments | Management services | Related Party        
Less:        
Cost and expenses 9,016 7,753 16,146 15,611
Operating Segments | Valencia        
Segment Reporting [Line Items]        
Revenues (990) 342 (570) 774
Less:        
Selling, general, and administrative 2,352 3,103 4,852 6,399
Other segment items 1,257 1,541 2,022 2,039
NET INCOME (4,599) (4,302) (7,444) (7,664)
Other segment disclosures:        
Depreciation and amortization 12 12 25 25
Interest income 0 0 0 0
Expenditures for long-lived assets, net 37,050 38,425 59,603 70,392
Inventory cost reimbursements 1,000 1,200 1,400 1,800
Operating Segments | Valencia | Land sales        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Valencia | Management services        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Valencia | Management services | Related Party        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco        
Segment Reporting [Line Items]        
Revenues 180 172 357 346
Less:        
Selling, general, and administrative 1,426 1,215 2,987 2,378
Other segment items (1) (2) (2) (17)
NET INCOME (1,245) (1,041) (2,628) (2,015)
Other segment disclosures:        
Depreciation and amortization 0 0 0 0
Interest income 1 2 2 17
Expenditures for long-lived assets, net 11,053 12,374 21,643 32,223
Inventory cost reimbursements     600 600
Operating Segments | San Francisco | Land sales        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco | Management services        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco | Management services | Related Party        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Great Park        
Segment Reporting [Line Items]        
Revenues 170,803 79,201 181,266 377,155
Less:        
Selling, general, and administrative 2,412 1,781 3,562 4,541
Other segment items (1,620) (1,709) (3,489) (3,402)
NET INCOME 121,022 53,024 122,963 268,776
Other segment disclosures:        
Depreciation and amortization 540 475 885 1,707
Interest income 1,620 1,709 3,489 3,402
Expenditures for long-lived assets, net 20,299 818 17,845 35,963
Inventory cost reimbursements 6,700 21,600 18,200 29,000
Operating Segments | Great Park | Land sales        
Less:        
Cost and expenses 37,622 16,022 37,622 86,238
Operating Segments | Great Park | Management services        
Less:        
Cost and expenses 2,351 2,330 4,462 5,391
Operating Segments | Great Park | Management services | Related Party        
Less:        
Cost and expenses 9,016 7,753 16,146 15,611
Operating Segments | Hearthstone        
Segment Reporting [Line Items]        
Revenues 5,580   11,708  
Less:        
Selling, general, and administrative 0   0  
Other segment items (808)   (1,124)  
NET INCOME 3,152   4,813  
Other segment disclosures:        
Depreciation and amortization 489   977  
Interest income 19   33  
Expenditures for long-lived assets, net 0   0  
Operating Segments | Hearthstone | Land sales        
Less:        
Cost and expenses 0   0  
Operating Segments | Hearthstone | Management services        
Less:        
Cost and expenses 3,236   8,019  
Operating Segments | Hearthstone | Management services | Related Party        
Less:        
Cost and expenses 0   0  
Segment Reconciling Items | Great Park        
Segment Reporting [Line Items]        
Revenues (161,671) (72,242) (165,278) (357,645)
Less:        
Selling, general, and administrative (2,412) (1,781) (3,562) (4,541)
Other segment items 1,620 1,709 3,489 3,402
NET INCOME (114,241) (48,395) (111,437) (254,657)
Other segment disclosures:        
Depreciation and amortization 0 0 0 0
Interest income (1,620) (1,709) (3,489) (3,402)
Expenditures for long-lived assets, net (20,299) (818) (17,845) (35,963)
Segment Reconciling Items | Great Park | Land sales        
Less:        
Cost and expenses (37,622) (16,022) (37,622) (86,238)
Segment Reconciling Items | Great Park | Management services        
Less:        
Cost and expenses 0 0 0 0
Segment Reconciling Items | Great Park | Management services | Related Party        
Less:        
Cost and expenses (9,016) (7,753) (16,146) (15,611)
Segment Reconciling Items | Great Park Segment        
Less:        
Other segment items (39,665) (16,692) (38,614) (87,546)
NET INCOME 39,665 16,692 38,614 87,546
Corporate and Unallocated        
Segment Reporting [Line Items]        
Revenues 0 0 0 0
Less:        
Selling, general, and administrative 10,516 11,268 21,204 21,574
Other segment items 3,304 (3,866) (1,287) 1,250
NET INCOME (13,820) (7,402) (19,917) (22,824)
Other segment disclosures:        
Depreciation and amortization 56 61 112 124
Interest income 2,639 4,965 5,891 9,000
Expenditures for long-lived assets, net (2) 0 6 0
Corporate and Unallocated | Land sales        
Less:        
Cost and expenses 0 0 0 0
Corporate and Unallocated | Management services        
Less:        
Cost and expenses 0 0 0 0
Corporate and Unallocated | Management services | Related Party        
Less:        
Cost and expenses $ 0 $ 0 $ 0 $ 0