Investment in Real Estate, Net (Table)

3 Months Ended

Mar. 31, 2025

Investment in Real Estate, Net

Schedule of investment in real estate, excluding unconsolidated JVs, by property type and segment

	March 31,		December 31,
	2025		2024
Development property:
Residential	$	156,904	$	149,499
Hospitality		12,530		13,342
Commercial		81,454		78,453
Other		4,515		4,234
Total development property		255,403		245,528
Operating property:
Residential		10,254		10,254
Hospitality		445,479		443,291
Commercial		485,399		483,643
Total operating property		941,132		937,188
Less: Accumulated depreciation		149,496		142,288
Total operating property, net		791,636		794,900
Investment in real estate, net	$	1,047,039	$	1,040,428