Investment in Real Estate

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Investment in Real Estate

Dispositions

On October 1, 2025, we disposed of two RV communities in the Property Operations segment for gross proceeds of $2.8 million, which resulted in a gain on sale of approximately $1.4 million to be recognized in the fourth quarter of 2025. As of September 30, 2025, the two RV communities had total assets of $1.2 million and total liabilities of approximately $0.1 million.

Impairment

During the quarter and nine months ended September 30, 2024, we recorded a $1.8 million reduction in the carrying value of certain assets, which is included in Gain/(Loss) on sale of real estate and impairment, net in the Consolidated Statements of Income and Comprehensive Income, related to Hurricane Helene.