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Segments - Schedule of Net Operating Income of Reportable Segments (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information      
Rental revenues $ 256,697 $ 238,924 $ 219,294
General contracting and real estate services revenues 433,177 413,131 234,859
Interest income 18,596 15,103 16,978
Total revenues 708,470 667,158 471,131
Rental expenses 62,410 56,419 50,742
Real estate taxes 23,308 22,442 22,057
General contracting and real estate services expenses 419,302 399,713 227,158
Interest expense (real estate financing segment) 6,588 3,667 3,497
Total segment operating expenses 511,608 482,241 303,454
Segment net operating income 196,862 184,917 167,677
Interest income (excluding real estate financing segment) 0 0 0
Depreciation and amortization (90,962) (97,427) (74,084)
General and administrative expenses (20,225) (18,122) (15,691)
Acquisition, development, and other pursuit costs (5,531) (84) (37)
Impairment charges (1,494) (102) (416)
Gain on real estate dispositions, net 21,305 738 53,466
Interest expense (excluding Real estate financing segment) (72,377) (54,143) (36,183)
Equity in income of unconsolidated real estate entities 245 0 0
Loss on extinguishment of debt (247) 0 (3,374)
Change in fair value of derivatives and other 14,251 (6,242) 8,698
Unrealized credit loss (provision) release (156) (574) (626)
Other (expense) income, net 209 31 378
Income tax benefit (provision) 614 (1,329) 145
Net income 42,494 7,663 99,953
Other      
Segment Reporting Information      
Rental revenues 0 0 0
General contracting and real estate services revenues 0 0 0
Interest income 2,519 927 517
Total revenues 2,519 927 517
Rental expenses 0 0 0
Real estate taxes 0 0 0
General contracting and real estate services expenses 0 0 0
Interest expense (real estate financing segment) 0 0 0
Total segment operating expenses 0 0 0
Segment net operating income 2,519 927 517
Interest income (excluding real estate financing segment) (215) (47) (9)
Depreciation and amortization (605) (496) (339)
General and administrative expenses (20,225) (18,122) (15,691)
Acquisition, development, and other pursuit costs (3) (84) (37)
Impairment charges 0 0 0
Gain on real estate dispositions, net 0 0 0
Interest expense (excluding Real estate financing segment) 0 0 0
Equity in income of unconsolidated real estate entities 0   0
Loss on extinguishment of debt 0   0
Change in fair value of derivatives and other 1,314 (2,034) 1,479
Unrealized credit loss (provision) release 10 (1) (240)
Other (expense) income, net 61 129 91
Income tax benefit (provision) 0 0 0
Net income (17,144) (19,728) (14,229)
Retail Real Estate | Operating Segments      
Segment Reporting Information      
Rental revenues 103,435 99,924 87,788
General contracting and real estate services revenues 0 0 0
Interest income 0 0 0
Total revenues 103,435 99,924 87,788
Rental expenses 18,221 16,470 13,980
Real estate taxes 9,421 9,102 9,122
General contracting and real estate services expenses 0 0 0
Interest expense (real estate financing segment) 0 0 0
Total segment operating expenses 27,642 25,572 23,102
Segment net operating income 75,793 74,352 64,686
Interest income (excluding real estate financing segment) 84 4 0
Depreciation and amortization (38,224) (39,149) (32,683)
General and administrative expenses 0 0 0
Acquisition, development, and other pursuit costs 0 0 0
Impairment charges 0 (102) (416)
Gain on real estate dispositions, net 21,305 738 23,306
Interest expense (excluding Real estate financing segment) (27,931) (21,561) (10,685)
Equity in income of unconsolidated real estate entities 2   0
Loss on extinguishment of debt (192)   (2,529)
Change in fair value of derivatives and other 5,004 (1,826) 2,376
Unrealized credit loss (provision) release 0 0 0
Other (expense) income, net 73 (123) 170
Income tax benefit (provision) 0 0 0
Net income 35,914 12,333 44,225
Office Real Estate | Operating Segments      
Segment Reporting Information      
Rental revenues 95,007 82,855 74,970
General contracting and real estate services revenues 0 0 0
Interest income 0 0 0
Total revenues 95,007 82,855 74,970
Rental expenses 25,048 22,708 19,003
Real estate taxes 8,731 8,682 7,617
General contracting and real estate services expenses 0 0 0
Interest expense (real estate financing segment) 0 0 0
Total segment operating expenses 33,779 31,390 26,620
Segment net operating income 61,228 51,465 48,350
Interest income (excluding real estate financing segment) 11 0 0
Depreciation and amortization (35,819) (44,805) (27,476)
General and administrative expenses 0 0 0
Acquisition, development, and other pursuit costs (5,528) 0 0
Impairment charges (1,494) 0 0
Gain on real estate dispositions, net 0 0 0
Interest expense (excluding Real estate financing segment) (26,887) (18,810) (13,178)
Equity in income of unconsolidated real estate entities 238   0
Loss on extinguishment of debt 0   (532)
Change in fair value of derivatives and other 4,056 (1,481) 1,023
Unrealized credit loss (provision) release 0 0 0
Other (expense) income, net 139 (51) (33)
Income tax benefit (provision) 1,634 0 0
Net income (2,422) (13,682) 8,154
Multifamily Real Estate | Operating Segments      
Segment Reporting Information      
Rental revenues 58,255 56,145 56,536
General contracting and real estate services revenues 0 0 0
Interest income 0 0 0
Total revenues 58,255 56,145 56,536
Rental expenses 19,141 17,241 17,759
Real estate taxes 5,156 4,658 5,318
General contracting and real estate services expenses 0 0 0
Interest expense (real estate financing segment) 0 0 0
Total segment operating expenses 24,297 21,899 23,077
Segment net operating income 33,958 34,246 33,459
Interest income (excluding real estate financing segment) 120 43 9
Depreciation and amortization (16,314) (12,977) (13,586)
General and administrative expenses 0 0 0
Acquisition, development, and other pursuit costs 0 0 0
Impairment charges 0 0 0
Gain on real estate dispositions, net 0 0 30,160
Interest expense (excluding Real estate financing segment) (17,559) (13,772) (12,320)
Equity in income of unconsolidated real estate entities 5   0
Loss on extinguishment of debt (55)   (313)
Change in fair value of derivatives and other 1,886 (340) 6
Unrealized credit loss (provision) release 0 0 0
Other (expense) income, net (64) 76 150
Income tax benefit (provision) 0 0 0
Net income 1,977 7,276 37,565
General Contracting and Real Estate Services | Operating Segments      
Segment Reporting Information      
Rental revenues 0 0 0
General contracting and real estate services revenues 433,177 413,131 234,859
Interest income 0 0 0
Total revenues 433,177 413,131 234,859
Rental expenses 0 0 0
Real estate taxes 0 0 0
General contracting and real estate services expenses 419,302 399,713 227,158
Interest expense (real estate financing segment) 0 0 0
Total segment operating expenses 419,302 399,713 227,158
Segment net operating income 13,875 13,418 7,701
Interest income (excluding real estate financing segment) 0 0 0
Depreciation and amortization 0 0 0
General and administrative expenses 0 0 0
Acquisition, development, and other pursuit costs 0 0 0
Impairment charges 0 0 0
Gain on real estate dispositions, net 0 0 0
Interest expense (excluding Real estate financing segment) 0 0 0
Equity in income of unconsolidated real estate entities 0   0
Loss on extinguishment of debt 0   0
Change in fair value of derivatives and other 0 0 0
Unrealized credit loss (provision) release 0 0 0
Other (expense) income, net 0 0 0
Income tax benefit (provision) (1,020) (1,329) 145
Net income 12,855 12,089 7,846
General Contracting and Real Estate Services | Intersegment Eliminations      
Segment Reporting Information      
General contracting and real estate services revenues (18,100) (53,100) (58,100)
General contracting and real estate services expenses 17,900 52,500 57,500
Real Estate Financing | Operating Segments      
Segment Reporting Information      
Rental revenues 0 0 0
General contracting and real estate services revenues 0 0 0
Interest income 16,077 14,176 16,461
Total revenues 16,077 14,176 16,461
Rental expenses 0 0 0
Real estate taxes 0 0 0
General contracting and real estate services expenses 0 0 0
Interest expense (real estate financing segment) 6,588 3,667 3,497
Total segment operating expenses 6,588 3,667 3,497
Segment net operating income 9,489 10,509 12,964
Interest income (excluding real estate financing segment) 0 0 0
Depreciation and amortization 0 0 0
General and administrative expenses 0 0 0
Acquisition, development, and other pursuit costs 0 0 0
Impairment charges 0 0 0
Gain on real estate dispositions, net 0 0 0
Interest expense (excluding Real estate financing segment) 0 0 0
Equity in income of unconsolidated real estate entities 0   0
Loss on extinguishment of debt 0   0
Change in fair value of derivatives and other 1,991 (561) 3,814
Unrealized credit loss (provision) release (166) (573) (386)
Other (expense) income, net 0 0 0
Income tax benefit (provision) 0 0 0
Net income $ 11,314 $ 9,375 $ 16,392