v3.26.1
Debt, Net - Schedule of Debt (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended 180 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Nov. 30, 2042
Apr. 30, 2027
Dec. 31, 2022
Debt instruments          
Outstanding debt principal $ 374,846 $ 396,008      
Unamortized discount and debt issuance costs (4,522) (4,849)      
Debt, Net $ 370,324 391,159      
Weighted average effective interest rate of outstanding debt (as a percent) 4.70%        
Percentage of debt outstanding at fixed interest rates 84.10%        
Average remaining life of debt outstanding 19 years 9 months 18 days        
Watersound Origins Crossings JV Loan (insured by HUD)          
Debt instruments          
Effective interest rate (as a percent) 5.00%        
Outstanding debt principal $ 51,005 $ 51,328      
Pier Park Resort Hotel JV Loan          
Debt instruments          
Basis spread on variable rate (as a percent) 2.10% 2.10%      
Debt Instrument, Variable Interest Rate, Type us-gaap:SecuredOvernightFinancingRateSofrMember        
Effective interest rate (as a percent) 3.70%        
Outstanding debt principal $ 49,261 $ 49,817      
Pier Park Resort Hotel JV Loan | Interest rate swap          
Debt instruments          
Notional Amount         $ 42,000
Fixed Interest Rate (as a percent) 3.20%        
Pier Park Resort Hotel JV Loan | Interest rate swap | Forecast          
Debt instruments          
Notional Amount       $ 38,700  
Mexico Beach Crossings JV Loan (insured by HUD)          
Debt instruments          
Effective interest rate (as a percent) 3.00%        
Outstanding debt principal $ 42,209 42,510      
PPN JV Loan          
Debt instruments          
Effective interest rate (as a percent) 6.10%        
Outstanding debt principal $ 39,683 39,922      
PPC JV Loan (insured by HUD)          
Debt instruments          
Effective interest rate (as a percent) 3.10%        
Outstanding debt principal $ 33,341 33,616      
Pearl Hotel Loan          
Debt instruments          
Effective interest rate (as a percent) 6.30%        
Outstanding debt principal $ 31,320 32,560      
North Bay Landing Loan (Insured by HUD)          
Debt instruments          
Effective interest rate (as a percent) 5.90%        
Outstanding debt principal $ 27,493 $ 27,619      
Watersound Camp Creek Loan          
Debt instruments          
Basis spread on variable rate (as a percent) 2.10% 2.10%      
Debt Instrument, Variable Interest Rate, Type us-gaap:SecuredOvernightFinancingRateSofrMember        
Floor rate (as a percent) 2.60% 2.60%      
Effective interest rate (as a percent) 5.80%        
Outstanding debt principal $ 26,538 $ 26,843      
PPC II JV Loan (insured by HUD)          
Debt instruments          
Effective interest rate (as a percent) 2.70%        
Outstanding debt principal $ 21,146 $ 21,365      
Hotel Indigo Loan          
Debt instruments          
Basis spread on variable rate (as a percent) 2.50% 2.50%      
Debt Instrument, Variable Interest Rate, Type us-gaap:SecuredOvernightFinancingRateSofrMember        
Floor rate (as a percent) 2.50% 2.50%      
Effective interest rate (as a percent) 6.10%        
Outstanding debt principal $ 18,607 $ 19,024      
Breakfast Point Hotel Loan          
Debt instruments          
Effective interest rate (as a percent) 6.00%        
Outstanding debt principal $ 13,718 14,978      
Breakfast Point Hotel Loan | Forecast          
Debt instruments          
Basis spread on variable rate (as a percent)     3.30%    
Debt Instrument, Variable Interest Rate, Type     us-gaap:UsTreasuryUstInterestRateMember    
Breakfast Point Hotel Loan | Minimum | Forecast          
Debt instruments          
Interest rate during period (as a percent)     6.00%    
Lodge 30A JV Loan          
Debt instruments          
Effective interest rate (as a percent) 3.80%        
Outstanding debt principal $ 13,306 $ 13,587      
Topsail Hotel Loan          
Debt instruments          
Basis spread on variable rate (as a percent) 2.10% 2.10%      
Debt Instrument, Variable Interest Rate, Type us-gaap:SecuredOvernightFinancingRateSofrMember        
Floor rate (as a percent) 3.00% 3.00%      
Effective interest rate (as a percent) 5.80%        
Outstanding debt principal $ 4,454 $ 11,215      
Community Development District debt          
Debt instruments          
Outstanding debt principal $ 2,765 2,604      
Community Development District debt | Minimum          
Debt instruments          
Effective interest rate (as a percent) 3.60%        
Community Development District debt | Maximum          
Debt instruments          
Effective interest rate (as a percent) 6.00%        
Watersound Town Center Grocery Loan          
Debt instruments          
Outstanding debt principal   4,682      
Airport Hotel Loan          
Debt instruments          
Outstanding debt principal   3,227      
Beckrich Building III Loan          
Debt instruments          
Outstanding debt principal   $ 1,111