v3.26.1
Real Estate Activity (Tables)
 6 Months Ended
Jun. 30, 2026
Real Estate [Abstract]  
Schedule of the Real Estate Owned
Below is a summary of our real estate as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Land$117,513 $113,357 
Building and improvements496,516 500,292 
Tenant improvements20,399 20,388 
Construction in progress63,501 56,163 
   Total cost697,929 690,200 
Less accumulated depreciation(94,712)(87,769)
Total real estate$603,217 $602,431 
Schedule of Gain on Sale or Write-down of Assets
Gain on sale or write-down of assets, net for the three and six months ended June 30, 2026 and 2025 consists of the following:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Land (1)$814 $947 $1,412 $4,092 
Multifamily Properties (2)— — (213)— 
Other— — — 746 
Total$814 $947 $1,199 $4,838 
(1)Includes the gain on dispositions of land from our investment in Windmill Farms and other land holdings.
(2)This represents additional costs associated with Villas at Bon Secour, a 200 unit multifamily property in Gulf Shores, Alabama, which we sold on October 10, 2025.