Debt, Net - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended	180 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Nov. 30, 2042	Apr. 30, 2027	Feb. 28, 2025	Dec. 31, 2022
Debt instruments
Outstanding debt principal	$ 440,169	$ 442,716
Unamortized discount and debt issuance costs	(5,345)	(4,962)
Debt, Net	$ 434,824	437,754
Weighted average effective interest rate of outstanding debt (as a percent)	4.80%
Percentage of debt outstanding at fixed interest rates	73.80%
Average remaining life of debt outstanding	18 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	$ 51,799	$ 51,953
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	us-gaap:SecuredOvernightFinancingRateSofrMember
Effective interest rate (as a percent)	3.90%
Outstanding debt principal	$ 50,622	$ 50,882
Pier Park Resort Hotel JV Loan | Interest rate swaps
Debt instruments
Notional amount						$ 42,000
Fixed interest rate (as a percent)	3.20%
Pier Park Resort Hotel JV Loan | Interest rate swaps | 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	$ 42,954	43,069
PPN JV Loan
Debt instruments
Effective interest rate (as a percent)	4.10%
Outstanding debt principal	$ 40,084	40,370
PPC JV Loan (insured by HUD)
Debt instruments
Effective interest rate (as a percent)	3.10%
Outstanding debt principal	$ 34,020	34,153
Pearl Hotel Loan
Debt instruments
Effective interest rate (as a percent)	6.30%
Outstanding debt principal	$ 33,670	$ 34,040
North Bay Landing Loan (insured by HUD)
Debt instruments
Basis spread on variable rate (as a percent)		2.50%
Debt Instrument, Variable Interest Rate, Type		us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)		3.20%
Effective interest rate (as a percent)	5.90%				5.90%
Outstanding debt principal	$ 27,800	$ 22,746
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	us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)	2.60%	2.60%
Effective interest rate (as a percent)	6.40%
Outstanding debt principal	$ 27,243	$ 27,377
PPC II JV Loan (insured by HUD)
Debt instruments
Effective interest rate (as a percent)	2.70%
Outstanding debt principal	$ 21,689	$ 21,796
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	us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)	2.50%	2.50%
Effective interest rate (as a percent)	6.80%
Outstanding debt principal	$ 19,649	$ 19,857
Watercrest JV Loan
Debt instruments
Basis spread on variable rate (as a percent)	2.20%	2.20%
Debt Instrument, Variable Interest Rate, Type	us-gaap:SecuredOvernightFinancingRateSofrMember	us-gaap:SecuredOvernightFinancingRateSofrMember
Effective interest rate (as a percent)	6.50%
Outstanding debt principal	$ 19,416	$ 19,555
Breakfast Point Hotel Loan
Debt instruments
Effective interest rate (as a percent)	6.00%
Outstanding debt principal	$ 15,349	15,473
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	$ 13,994	$ 14,130
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	us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)	3.00%	3.00%
Effective interest rate (as a percent)	6.40%
Outstanding debt principal	$ 12,307	$ 12,307
Airport 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	us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)	3.00%	3.00%
Effective interest rate (as a percent)	6.40%
Outstanding debt principal	$ 11,603	$ 11,717
Watersound Town Center Grocery Loan
Debt instruments
Basis spread on variable rate (as a percent)	2.10%	2.10%
Debt Instrument, Variable Interest Rate, Type	us-gaap:SecuredOvernightFinancingRateSofrMember	us-gaap:SecuredOvernightFinancingRateSofrMember
Floor rate (as a percent)	2.30%	2.30%
Effective interest rate (as a percent)	6.40%
Outstanding debt principal	$ 8,048	$ 8,086
Beckrich Building III Loan
Debt instruments
Basis spread on variable rate (as a percent)	1.80%	1.80%
Debt Instrument, Variable Interest Rate, Type	us-gaap:SecuredOvernightFinancingRateSofrMember	us-gaap:SecuredOvernightFinancingRateSofrMember
Effective interest rate (as a percent)	6.10%
Outstanding debt principal	$ 5,014	$ 5,014
Community Development District debt
Debt instruments
Outstanding debt principal	$ 3,151	$ 3,151
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%
Beach Homes Loan
Debt instruments
Basis spread on variable rate (as a percent)	1.70%	1.70%
Debt Instrument, Variable Interest Rate, Type	us-gaap:SecuredOvernightFinancingRateSofrMember	us-gaap:SecuredOvernightFinancingRateSofrMember
Effective interest rate (as a percent)	6.00%
Outstanding debt principal	$ 1,132	$ 1,385
WaterColor Crossings Loan
Debt instruments
Basis spread on variable rate (as a percent)	1.80%	1.80%
Debt Instrument, Variable Interest Rate, Type	us-gaap:SecuredOvernightFinancingRateSofrMember	us-gaap:SecuredOvernightFinancingRateSofrMember
Effective interest rate (as a percent)	6.10%
Outstanding debt principal	$ 625	$ 1,043
Self-Storage Facility Loan
Debt instruments
Outstanding debt principal		3,360
Pier Park Outparcel Loan
Debt instruments
Outstanding debt principal		$ 1,252