Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions | |
| Related Party Transactions | 18. Related Party Transactions The Company provides land, mitigation bank credits, impact and other fees, property for lease and services to certain unconsolidated JVs. The Company recognized revenue related to these transactions of $0.4 million and $0.7 million during the three months ended June 30, 2026 and 2025, respectively, and $1.0 million and $1.6 million during the six months ended June 30, 2026 and 2025, respectively. As of both June 30, 2026 and December 31, 2025, receivables from unconsolidated JVs were $1.0 million. 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, 2026 and 2025 and $1.3 million during each of the six months ended June 30, 2026 and 2025. See Note 4. Joint Ventures for additional information. The Company incurred land development and planning costs reimbursements to the Latitude Margaritaville Watersound JV of less than $0.1 million and $0.6 million during the three months ended June 30, 2026 and 2025, respectively, and less than $0.1 million and $1.1 million during the six months ended June 30, 2026 and 2025, respectively, which were primarily included in investment in real estate, net on the condensed consolidated balance sheets. As of June 30, 2026, there were no payables to related parties. As of December 31, 2025, $0.1 million was payable to the Latitude Margaritaville Watersound JV. See Note 4. Joint Ventures for additional information.
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