REAL ESTATE (Tables)

3 Months Ended

Mar. 31, 2025

Real Estate [Abstract]

Schedule of Real Estate

Our accumulated real estate development costs by project consisted of the following:

($ in thousands)	March 31, 2025		December 31, 2024
Real estate development
Mountain Village	$	158,865	$	158,348
Centennial	124,980		124,136
Grapevine	42,972		42,456
Tejon Ranch Commerce Center
- Commercial	27,024		23,724
- Residential	40,939		29,241
Total Tejon Ranch Commerce Center	67,963		52,965
Real estate development	$	394,780	$	377,905
Real estate and improvements - held for lease
Tejon Ranch Commerce Center	$	20,597	$	20,596
Less accumulated depreciation	(4,429)		(4,343)
Real estate and improvements - held for lease, net	$	16,168	$	16,253