Homefed (HOFD) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Registrant Name	HOMEFED CORP
Entity Central Index Key	833795
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,387,500

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
Real estate held for development	$151,387	$143,301
Real estate held for investment, net	43,610	43,891
Cash and cash equivalents	51,413	61,495
Restricted cash	6,406	6,419
Investments available for sale (amortized cost of $35,796 and $35,897)	35,797	35,898
Investment held to maturity, at amortized cost	11,382	11,368
Equity method investments	99,633	101,228
Accounts receivable, deposits and other assets	19,033	17,393
Intangible assets, net	11,431	12,196
TOTAL	430,092	433,189
LIABILITIES
Accounts payable and accrued liabilities	7,817	6,009
Below market lease contract intangibles, net	4,517	4,760
Non-refundable option payments	25	25
Liability for environmental remediation	1,473	1,495
Deferred revenue	2,322	2,528
Net deferred tax liability	3,787	4,984
Other liabilities	799	842
Total liabilities	20,740	20,643
COMMITMENTS AND CONTINGENCIES
EQUITY
Common stock, $.01 par value; 25,000,000 shares authorized; 15,387,500 shares outstanding after deducting 395,409 shares held in treasury	154	154
Additional paid-in capital	597,323	597,271
Accumulated other comprehensive income
Accumulated deficit	-200,767	-197,530
Total HomeFed Corporation common shareholders' equity	396,710	399,895
Noncontrolling interest	12,642	12,651
Total equity	409,352	412,546
TOTAL	$430,092	$433,189

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets [Abstract]
Investments available for sale, amortized cost	$35,796	$35,897
Common stock, par value	$0.01	$0.01
Common shares, authorized	25,000,000	25,000,000
Common shares, shares outstanding	15,387,500	15,387,500
Treasury stock, shares	395,409	395,409

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
REVENUES
Sales of real estate	$940,000	$2,622,000
Rental income	5,458,000	287,000
Co-op marketing and advertising fees	153,000	278,000
Total revenues	6,551,000	3,187,000
EXPENSES
Cost of sales	264,000	1,350,000
Rental operating expenses	4,369,000	138,000
Farming expenses	898,000	991,000
General and administrative expenses	4,157,000	3,831,000
Depreciation and amortization	1,048,000	111,000
Administrative services fees to Leucadia National Corporation	45,000	45,000
Total expenses	10,781,000	6,466,000
Loss before losses from equity method investments	-4,230,000	-3,279,000
Losses from equity method investments	-1,595,000	-3,000
Loss from operations	-5,825,000	-3,282,000
Interest and other income	349,000	42,000
Loss before income taxes and noncontrolling interest	-5,476,000	-3,240,000
Income tax benefit	2,230,000	1,290,000
Net loss	-3,246,000	-1,950,000
Net income attributable to the noncontrolling interest	9,000	-31,000
Net loss attributable to HomeFed Corporation common shareholders	($3,237,000)	($1,981,000)
Basic and diluted earnings per common share attributable to HomeFed Corporation common shareholders	($0.21)	($0.24)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Net loss	($3,246)	($1,950)
Other comprehensive loss:
Net unrealized holding gains (losses) on investments arising during the period, net of taxes of $0 and $0
Net change in unrealized holding gains (losses) on investments, net of taxes of $0 and $0
Other comprehensive income (loss), net of income taxes
Comprehensive loss	-3,246	-1,950
Comprehensive (income) loss attributable to the noncontrolling interest	9	-31
Comprehensive loss attributable to HomeFed Corporation common shareholders	($3,237)	($1,981)

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Net unrealized holding gains (losses) on investments arising during the period, tax provision (benefit)	$0	$0
Net change in unrealized holding gains (losses) on investments, tax provision (benefit)	$0	$0

Consolidated_Statements_of_Cha

Consolidated Statements of Changes In Equity (USD $)	Common Stock $.01 Par Value [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Subtotal [Member]	Noncontrolling Interest [Member]	Total
In Thousands
Balance at Dec. 31, 2013	$79	$381,171	$1	($201,416)	$179,835	$10,095	$189,930
Net loss				-1,981	-1,981	31	-1,950
Shares issued to acquire assets from Leucadia National Corporation	70	196,218			196,288		196,288
Noncontrolling interest acquired from Leucadia National Corporation						1,710	1,710
Share-based compensation expense		47			47		47
Balance at Mar. 31, 2014	149	577,436	1	-203,397	374,189	11,836	386,025
Balance at Dec. 31, 2014	154	597,271		-197,530	399,895	12,651	412,546
Net loss				-3,237	-3,237	-9	-3,246
Share-based compensation expense		52			52		52
Balance at Mar. 31, 2015	$154	$597,323		($200,767)	$396,710	$12,642	$409,352

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($3,246)	($1,950)
Adjustments to reconcile net loss to net cash used for operating activities:
Losses from equity method investments	1,595	3
Provision for deferred income taxes	-1,197	-460
Share-based compensation expense	52	47
Depreciation and amortization of property, equipment and leasehold improvements	88	83
Other amortization	1,284	26
Amortization related to investments	-281	-6
Acquisition of real estate, held for development	-3,750
Changes in operating assets and liabilities:
Real estate, held for development	-4,364	-2,284
Real estate, held for investment	-8
Restricted cash related to development activities	13	-5,000
Accounts receivable, deposits and other assets	-115	-488
Deferred revenue	-206	-982
Accounts payable and accrued liabilities	1,808	227
Non-refundable option payments		-70
Liability for environmental remediation	-22	-7
Income taxes receivable/payable	-1,795	-4,230
Other liabilities	-43	-7
Net cash used for operating activities	-10,187	-15,098
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired upon acquisition of assets from Leucadia National Corporation		13,983
Purchases of investments (other than short-term)	-21,795	-21,294
Proceeds from maturities of investments available for sale	21,900	16,700
Net cash provided by (used for) investing activities	105	9,389
Net decrease in cash and cash equivalents	-10,082	-5,709
Cash and cash equivalents, beginning of period	61,495	57,306
Cash and cash equivalents, end of period	51,413	51,597
Supplemental disclosures of cash flow information:
Cash paid for income taxes	762	3,400
Non-cash investing activities:
Common stock issued for acquisition of assets from Leucadia National Corporation		$196,288

Accounting_Developments

Accounting Developments	3 Months Ended
	Mar. 31, 2015
Accounting Developments [Abstract]
Accounting Developments	1.   Accounting Developments
	The unaudited interim consolidated financial statements, which reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes necessary to fairly state results of interim operations, should be read in conjunction with the Notes to Consolidated Financial Statements (including the Summary of Significant Accounting Policies) included in our audited consolidated financial statements for the year ended December 31, 2014, which are included in our Annual Report filed on Form 10-K for such year (the “2014 10-K”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The consolidated balance sheet at December 31, 2014 was extracted from the audited annual consolidated financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements.
	In January 2015, we adopted new Financial Accounting Standards Board (“FASB”) guidance on the reporting of discontinued operations.  The new guidance requires that disposal of a component of an entity or a group of components of an entity be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, and would require expanded disclosures.  The adoption of this guidance did not have an impact on our consolidated financial statements.
	In May 2014, the FASB issued new guidance that defines how companies report revenues from contracts with customers, and also requires enhanced disclosures.  The core principle of this new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  This guidance will be effective for interim and annual periods beginning after December 15, 2016.  In April 2015, the FASB announced a proposal to defer the effective date by one year, with early adoption on the original effective date permitted.  We are currently evaluating the impact this new guidance will have on our consolidated financial statements to the extent applicable.
	In February 2015, the FASB issued new guidance that amends current consolidation guidance including changes to both the variable and voting interest models used to evaluate whether an entity should be consolidated.  This guidance also eliminates the deferral of certain consolidation standards for entities considered to be investment companies.  This guidance will be effective for annual and interim periods beginning after December 15, 2015, and early adoption is permitted.  We are evaluating the impact this new guidance will have on our consolidated financial statements.
	Certain amounts have been reclassified to be consistent with the 2015 presentation.

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2015
Acquisition [Abstract]
Acquisition	2.   Acquisition
	On February 28, 2014, we entered into an agreement with Leucadia National Corporation (“Leucadia”) pursuant to which we agreed to purchase substantially all of Leucadia’s real estate properties and operations, its membership interests in Brooklyn Renaissance Holding Company LLC (“BRP Holding”) and Brooklyn Renaissance Hotel LLC (“BRP Hotel,” and collectively with BRP Holding, “Brooklyn Renaissance Plaza”), and cash in exchange for 7.5 million newly issued unregistered HomeFed common shares (the “Acquisition”).  On March 28, 2014, we completed the initial closing of the Acquisition, which consisted of all of the assets to be acquired except for a portion of Leucadia’s membership interest in BRP Holding, and cash of approximately $12,500,000 (excluding cash acquired as part of working capital), subject to certain post-closing adjustments.  At the initial closing, we issued to Leucadia 6,986,337 shares of our unregistered common stock.  During September 2014, we acquired the balance of Leucadia’s membership interest in BRP Holding in exchange for 513,663 additional shares of our unregistered common stock.
	The Acquisition was accounted for using the acquisition method of accounting.  The aggregate purchase price of approximately $215,700,000 (or approximately $29 per our common share included in the consideration) was based on the fair value of the assets and liabilities acquired in the transaction and represented management’s best estimates.  Subsequent to the initial allocation of the purchase price, we recorded a change in estimate of approximately $4,650,000 related to working capital adjustments. The following table reflects the allocation of the purchase price to the assets acquired and liabilities assumed at the acquisition date (in thousands):
	Assets
	Real estate held for development	$	38,292
	Real estate held for investment		41,187
	Cash		13,983
	Restricted cash		1,096
	Investment held to maturity		10,619
	Equity method investments		102,743
	Intangible assets		14,960
	Accounts receivable, deposits and other assets		14,225
	Total assets	$	237,105
	Liabilities
	Accounts payable		2,023
	Below market lease contract intangibles		5,588
	Net deferred tax liability		11,843
	Other liabilities		232
	Total liabilities		19,686
	Noncontrolling interests		1,710
	Net assets acquired	$	215,709
	GAAP specifies a hierarchy to classify fair value measurements as Level 1, Level 2 or Level 3, based on the degree to which the inputs to valuation techniques are observable.  Level 3 valuations rely on inputs that are both significant to the fair value measurement and unobservable.  With the exception of working capital components, the fair values of assets and liabilities acquired were determined using inputs that are principally unobservable, and as such are considered to be Level 3 valuations.
	Our management employed an independent third-party appraiser to assist us in determining the fair values of the assets acquired and liabilities assumed.  The fair values of the individual real estate projects and investments were estimated by applying various valuation techniques including the income, market and cost approach. The income approach included discounted cash flow analyses, the market approach included comparable sales and rental information in local and national markets, and the cost approach incorporated replacement cost information.  Generally, all three valuation techniques were used to determine the fair values of real estate assets and equity method investments, the income approach was used to determine the fair value of the investment held to maturity and the market approach was used to determine the fair value of intangibles.  The more significant assumptions include discount rates ranging from 7% to 22%, and terminal values based on direct cap rates ranging from 6.5% to 9.5%.  The fair values of noncontrolling interests, which represent 10% of the partnership interests in the Pacho Project, were based on the fair values determined for the entire project.
	Amounts allocated to intangibles and the amortization periods are as follows (in thousands):
				Amortization
			Amount	(in years)
	Above market lease contracts	$	10,874	1 to 24
	Lease in place value		4,086	1 to 24
	Intangible assets	$	14,960
	Below market lease contracts	$	5,588	1 to 24
	Unaudited pro forma operating results for the three months ended March 31, 2014, assuming the Acquisition had occurred on January 1, 2013, are as follows (in thousands, except per share amounts):
		2014
	Revenues	$	8,370
	Net loss attributable to HomeFed
	common shareholders	$	-2,908
	Basic and diluted loss per common share
	attributable to HomeFed common shareholders	$	-0.19
	Pro forma adjustments principally reflect the amortization of acquired intangibles and the below market lease contracts, as well as adjustments to historical depreciation expense to account for the difference between the fair value of the acquired assets and their historical cost and to reflect the costs related to the acquisition as if they had occurred in the period beginning January 1, 2013.  In addition, our share of Brooklyn Renaissance Plaza’s results is less than historical amounts, reflecting our share of additional depreciation and amortization expenses for Brooklyn Renaissance Plaza due to its fair value being greater than historical cost.  The unaudited pro forma data is not indicative of future results of operations or what would have resulted if the Acquisition had actually occurred as of January 1, 2013.

Investments_Available_For_Sale

Investments Available For Sale	3 Months Ended
	Mar. 31, 2015
Investments Available For Sale [Abstract]
Investments	3.   Investments Available for Sale
	Our financial instruments include cash and cash equivalents and investments classified as available for sale; investments classified as available for sale are the only assets or liabilities that are measured at fair value on a recurring basis.  All of these investments mature in one year or less.  The par value, amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale as of March 31, 2015 and December 31, 2014 are as follows (in thousands):
										Fair Value Measurements Using
										Quoted Prices in		Significant
										Active Markets		Other
						Gross		Gross		for		Observable		Total
		Par		Amortized		Unrealized		Unrealized		Identical Assets		Inputs		Fair Value
		Value		Cost		Gains		Losses		(Level 1)		(Level 2)		Measurements
	31-Mar-15
	U.S. Treasury securities	$	35,800	$	35,796	$	1	$	-	$	35,797	$	-	$	35,797
	31-Dec-14
	U.S. Treasury securities	$	35,900	$	35,897	$	1	$	-	$	35,898	$	-	$	35,898
	As of March 31, 2015, we did not have any assets or liabilities measured at fair value on a nonrecurring basis.
	For cash and cash equivalents, the carrying amounts of such financial instruments approximate their fair values.  We did not invest in any derivatives or engage in any hedging activities.

Investments_Held_To_Maturity

Investments Held To Maturity	3 Months Ended
	Mar. 31, 2015
Investments Held To Maturity [Abstract]
Investments Held To Maturity	4.   Investment Held to Maturity
	In connection with The Market Common, Leucadia purchased bonds designated as “Tax Increment Bonds (Myrtle Beach Air Force Base Redevelopment Project Area, Junior Lien Series 2006B)” (the “Series 2006B Bonds”) issued by the City of Myrtle Beach, South Carolina (the “City”).  We acquired these bonds as part of the Acquisition.  Interest and principal on the Series 2006B Bonds are special obligations of the City payable only from specified tax increment to be deposited in a special revenue account pursuant to an ordinance enacted by the City Council.  The Series 2006B Bonds are junior to Series 2006A Bonds issued by the City in the original principal amount of $30,795,000.  Interest and principal on the Series 2006B Bonds will not be paid until there is sufficient tax increment to service the interest and principal due on the Series 2006A Bonds and to establish various reserves and deposits.  The tax increment that is pledged to service both bond series is generated from developed and to be developed residential and commercial property owned by us, and from two other large residential development projects adjacent to our project owned by third parties that are currently under development.  The Series 2006B Bonds bear interest at the rate of 7.5% per annum, payable semi-annually.  Currently there is not sufficient tax increment to fully pay interest on the Series 2006B Bonds.  The Series 2006B Bonds mature in October 2031.
	At acquisition on March 28, 2014, we recorded the Series 2006B bonds at fair value of $10,619,000 based on expected future cash flows discounted at 10%.  The Series 2006B Bonds have been classified as held-to-maturity investments as the Company has the positive intent and ability to hold the securities to maturity.  The principal amount outstanding and accrued interest aggregated approximately $13,850,000 at March 31, 2015.    The par value, amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as held to maturity as of March 31, 2015 and December 31, 2014 are as follows (in thousands):
						Fair Value Measurements Using
						Quoted Prices in		Significant
						Active Markets		Other
						for		Observable			Unobservable	Total
		Par		Amortized		Identical Assets		Inputs			Inputs	Fair Value
		Value		Cost		(Level 1)		(Level 2)			(Level 3)	Measurements
	31-Mar-15
	Non-public bond	$	10,050	$	11,382	$	-	$	-	$	11,382	$	11,382
	31-Dec-14
	Non-public bond	$	10,050	$	11,368	$	-	$	-	$	11,368	$	11,368

Intangible_Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2015
Intangible Assets, Net [Abstract]
Intangible Assets, Net	5.   Intangible Assets
	A summary of intangible assets is as follows (in thousands):
		March 31,		December 31,		Amortization
		2015		2014		(in years)
	Above market lease contracts	$	8,584	$	9,151	1 to 24
	Lease in place value		2,847		3,045	1 to 24
	Intangible assets	$	11,431	$	12,196
	Below market lease contracts	$	4,517	$	4,760	1 to 24
	The amortization of above and below market lease contracts is recognized in Rental income, and the lease in place intangible is amortized over the life of the related lease and reflected in Depreciation and amortization expenses.  Amortization expense on intangible assets was $200,000 for the three month period ended March 31, 2015, and was insignificant from the acquisition date to March 31, 2014.  The estimated future amortization expense for the lease in place intangible asset for each of the next five years is as follows: remainder of 2015 - $550,000; 2016 - $550,000; 2017 - $500,000; 2018 - $300,000; 2019 - $150,000 and thereafter - $800,000.

Equity_Method_Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2015
Equity Method Investments [Abstract]
Equity Method Investments	6.   Equity Method Investments
	During September 2014, we acquired the balance of Leucadia’s membership interest in BRP Holding in exchange for 513,663 additional shares of our unregistered common stock and increased our membership interest to 61.25%.  Although we have a majority interest, we concluded that we do not have control but only the ability to exercise significant influence on this investment.  As such, we elected to account for BRP Holding under the equity method of accounting.  We also own a 25.8% membership interest in BRP Hotel and we account for it under the equity method of accounting.
	Under the equity method of accounting, our share of the investee’s underlying net income or loss is recorded as income (loss) from equity method investments.  The recognition of our share of the investees’ results takes into account any special rights or priorities of investors; accordingly, we employ the hypothetical liquidation at book value model to calculate our share of the investees’ profits or losses.
	At March 31, 2015 and December 31, 2014, our equity method investments are comprised of the following (in thousands):
		March 31,		December 31,
		2015		2014
	BRP Holding	$	75,526	$	76,478
	BRP Hotel		24,107		24,750
	Total	$	99,633	$	101,228
	Losses from equity method investments includes the following for the three months ended March 31, 2015 (in thousands):
		2015
	BRP Holding	$	-952
	BRP Hotel		-643
	Total	$	-1,595
	Losses from equity method investments related to BRP Hotel and Holding for the period from March 28, 2014 to March 31, 2014 were insignificant.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	7.   Income Taxes
	We do not have any amounts in our consolidated balance sheets for unrecognized tax benefits related to uncertain tax positions.  The statute of limitations with respect to our federal income tax returns has expired for all years through 2010 and with respect to California state income tax returns has expired for all years through 2009.

Loss_Per_Common_Share

Loss Per Common Share	3 Months Ended
	Mar. 31, 2015
Loss Per Common Share [Abstract]
Loss Per Common Share	8.   Loss Per Common Share
	Basic and diluted loss per share amounts were calculated by dividing net loss by the weighted average number of common shares outstanding.    The numerators and denominators used to calculate basic and diluted loss per share for the three months ended March 31, 2015 and 2014 are as follows (in thousands):
		2015		2014
	Numerator – net loss attributable to HomeFed Corporation common shareholders	$	-3,237	$	-1,981
	Denominator for basic and diluted loss per share– weighted average shares		15,388		8,190
	If the effect of stock options were not antidilutive due to our loss, weighted average shares outstanding would have increased by 34,000 and 29,000 for the three months ended March 31, 2015 and 2014, respectively.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	9.   Related Party Transactions
	Brooklyn Renaissance Plaza:
	As more fully discussed in our 2014 10-K, BRP Leasing is the indirect obligor under a lease for office space at BRP Holding.  Future minimum annual rental expense (exclusive of month-to-month leases, real estate taxes, maintenance and certain other charges) that BRP Leasing is obligated to pay to BRP Holding for office space is as follows at March 31, 2015 (in thousands):
		Remainder of 2015	$	5,671
		2016		7,561
		2017		7,561
		2018		6,301
		2019		-
		Thereafter		-
			$	27,094
	In the aggregate, substantially all of the office space has been sublet for amounts in excess of BRP Leasing’s contractual commitment in the underlying lease.
	Leucadia:
	Pursuant to an administrative services agreement, Leucadia provides us certain administrative and accounting services, including providing the services of our Secretary.  Administrative services fee expenses were $45,000 for each of the three months ended March 31, 2015 and 2014.  The administrative services agreement automatically renews for successive annual periods unless terminated in accordance with its terms.  We sublease office space to Leucadia under a sublease agreement until October 2018.  Amounts reflected in other income pursuant to this agreement were $3,000 for each of the three months ended March 31, 2015 and 2014.
	We also receive $5,000 monthly in fee income related to the management and supervision of certain real estate in the Maine projects retained by Leucadia.  This agreement will remain in place until ownership is transferred to us which will not occur until five years has elapsed.  For the three months ended March, 31, 2015, we recognized $15,000 which is reflected in Interest and other income.
	See Note 2 for information concerning the purchase of assets from Leucadia.  Our Chairman, Joseph S. Steinberg, is a significant stockholder of Leucadia and Chairman of Leucadia’s Board, and one of our Directors, Brian P. Friedman, is the President of Leucadia.

Interest_And_Other_Income

Interest And Other Income	3 Months Ended
	Mar. 31, 2015
Interest And Other Income [Abstract]
Interest And Other Income	10.   Interest and Other Income
	Interest and other income includes interest income of $300,000 and $30,000 for the three months ended March 31, 2015 and 2014, respectively.

Real_Estate_Activity

Real Estate Activity	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Real Estate Activity	11.  Real Estate Activity
	There were no sales at the San Elijo Hills and Ashville Park projects during the three month period ended March 31, 2015.
	During the three month periods ended March 31, 2014, the Company sold 10 lots from Village A at the Ashville Park project for net cash consideration of $1,650,000.  Since we are obligated to complete certain improvements to the property sold, a portion of the revenue from sales of real estate is deferred, and is recognized as revenues upon the completion of the required improvements to the property, including costs related to common areas, under the percentage of completion method of accounting.
	As of April 30, 2015, we  entered into an agreement to sell the remaining 37 lots from Village B at the Ashville project for net cash consideration of $5,200,000.
	During the three month period ended March 31, 2015, we closed on the sale of 2 single family lots and 10 multi-family lots at The Market Common for aggregate cash proceeds of $70,000 and $250,000, respectively.  Revenues from sales of real estate at The Market Common also include amounts recognized pursuant to revenue or profit sharing with a homebuilder of $400,000 for the three months ended March 31, 2015.
	In April 2015, we closed on the sale of 15 single family lots at The Market Common for aggregate cash proceeds of $550,000.  As of April 30, 2015, we have entered into an agreement to sell 30 single family lots for $1,050,000 and 43 multi-family lots for $1,100,000 at The Market Common to a homebuilder.  A non-refundable option deposit of $25,000 was transferred from Leucadia to us as part of the Acquisition.
	Option payments are non-refundable if we fulfill our obligations under the agreements, and will be applied to reduce the amount due from the purchasers at closing.  Although these agreements are binding on the purchasers, should we fulfill our obligations under the agreements within the specified timeframes and the purchasers decide not to close, our recourse will be primarily limited to retaining the option payments.
	In March 2015, we closed on the purchase of 64 acres of land in the Otay Ranch area of San Diego County for $3,750,000.  The land is entitled for 26 acres of industrial development and 62 single family homes.
	In April 2015, we closed on the sale of miscellaneous buildings in Rockport, Maine for aggregate cash proceeds of $650,000.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies	12.  Commitments
	BRP Leasing is the indirect obligor under a lease for office space at BRP Holding.  See Note 9 for information concerning BRP Leasing’s minimum annual rental expense.
	A school at the SweetBay Project has a $5,525,000 loan outstanding for which we have pledged 42 acres of land as collateral; although we are not obligated to repay the loan should the school fail to do so, we could lose the land we have pledged as collateral.
	The Market Common is required to provide a letter of credit for the benefit of the City of Myrtle Beach to secure the completion of certain infrastructure improvements in the amount of $5,000,000.  Prior to closing of the Acquisition, we were required to replace the existing letter of credit.  We placed $5,000,000 on deposit with a qualified financial institution to obtain the replacement letter of credit; such amount is reflected as restricted cash.
	BRP Leasing is required to keep a minimum of $500,000 on deposit in an escrow account to secure its lease obligations.  At March 31, 2015, $1,400,000 was in the escrow account and is classified as restricted cash.
	We agreed to indemnify Leucadia for certain lease obligations of BRP Leasing that were assumed from a former subsidiary of Leucadia that was sold to a third party prior to the Acquisition.  The former subsidiary of Leucadia remains the primary obligor under the lease obligations and Leucadia agreed to indemnify the third party buyer.  The primary lease expires in 2018 and the aggregate amount of lease obligations as of March 31, 2015 was approximately $38,050,000 of which includes approximately $10,950,000 projected operating expenses and taxes related to the real estate.  Substantially all of the space under the primary lease has been sublet to various third-party tenants for the full length of the lease term in amounts in excess of the obligations under the primary lease.
	As more fully discussed in the Annual Report on Form 10-K for the year ended December 31, 2013, upon receipt of required approvals, we commenced remediation activities on approximately 30 acres of undeveloped land owned by Flat Rock Land Company, LLC (“Flat Rock”), a subsidiary of Otay Ranch.  The remediation activities were completed in February 2013.   We received final approval of the remediation from the County of San Diego Department of Environmental Health in June 2013.   Otay Ranch and Flat Rock had commenced a lawsuit in California Superior Court seeking compensation from the parties who they believe are responsible for the contamination of the property.  In February 2015, the court denied us any recovery.   As a result, the defendants may be entitled to be reimbursed by us for their legal costs incurred, and we have accordingly accrued $350,000 during the three months ended March 31, 2015 as we believe that such loss is probable and reasonably estimable.  In addition, the defendants are seeking to recover attorney’s fees in the amount of approximately $13,500,000 pursuant to an attorneys’ fee provision in Otay Land’s purchase agreement for the property. Based on our evaluation of applicable law, we believe the claim for attorney’s fees is without merit and we intend to defend against this claim vigorously.   The trial court is scheduled to rule on defendants’ request in August 2015.  We can give no assurances as to the ultimate outcome of this matter or that any appeal, if pursued, will be successful.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Segment Information	13. Segment Information
	We have three reportable segments—real estate, farming and corporate.  Real estate operations consist of a variety of residential land development projects and commercial properties and other unimproved land, all in various stages of development.  Real estate also includes the equity method investments in BRP Holding and BRP Hotel, all of which were acquired during 2014 in the Acquisition.  Farming operations consist of the Rampage property which includes an operating grape vineyard and an almond orchard under development.  Corporate primarily consists of investment income and overhead expenses.  Corporate amounts are not allocated to the operating units.
	Certain information concerning our segments for the three months ended March 31, 2015 and 2014 is presented in the following table.  Consolidated subsidiaries are reflected as of the date a majority controlling interest was acquired.  As discussed above, certain real estate projects acquired from Leucadia became wholly owned subsidiaries as of March 28, 2014.
		2015		2014
		(in thousands)
	Revenues:
	Real estate	$	6,548	$	3,184
	Corporate		3		3
	Total consolidated revenues	$	6,551	$	3,187
	Loss from continuing operations before income
	taxes and noncontrolling interest:
	Real estate	$	-2,184	$	699
	Farming		-988		-1,020
	Corporate		-2,304		-2,919
	Total consolidated loss from continuing
	operations before income taxes and noncontrolling
	interest	$	-5,476	$	-3,240
	Depreciation and amortization expenses:
	Real estate	$	1,016	$	101
	Farming		25		4
	Corporate		7		6
	Total consolidated depreciation and amortization expenses	$	1,048	$	111

Accounting_Developments_Policy

Accounting Developments (Policy)	3 Months Ended
	Mar. 31, 2015
Accounting Developments [Abstract]
Basis of Presentation	The unaudited interim consolidated financial statements, which reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes necessary to fairly state results of interim operations, should be read in conjunction with the Notes to Consolidated Financial Statements (including the Summary of Significant Accounting Policies) included in our audited consolidated financial statements for the year ended December 31, 2014, which are included in our Annual Report filed on Form 10-K for such year (the “2014 10-K”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The consolidated balance sheet at December 31, 2014 was extracted from the audited annual consolidated financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements.

Acquisition_Tables

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2015
Acquisition [Abstract]
Schedule Of Allocation Of Purchase Price To Assets Acquired And Liabilities Assumed
	Assets
	Real estate held for development	$	38,292
	Real estate held for investment		41,187
	Cash		13,983
	Restricted cash		1,096
	Investment held to maturity		10,619
	Equity method investments		102,743
	Intangible assets		14,960
	Accounts receivable, deposits and other assets		14,225
	Total assets	$	237,105
	Liabilities
	Accounts payable		2,023
	Below market lease contract intangibles		5,588
	Net deferred tax liability		11,843
	Other liabilities		232
	Total liabilities		19,686
	Noncontrolling interests		1,710
	Net assets acquired	$	215,709
Schedule Of Acquired Finite-Lived Intangible Assets
				Amortization
			Amount	(in years)
	Above market lease contracts	$	10,874	1 to 24
	Lease in place value		4,086	1 to 24
	Intangible assets	$	14,960
	Below market lease contracts	$	5,588	1 to 24
Schedule Of Proforma Information
		2014
	Revenues	$	8,370
	Net loss attributable to HomeFed
	common shareholders	$	-2,908
	Basic and diluted loss per common share
	attributable to HomeFed common shareholders	$	-0.19

Investments_Available_For_Sale1

Investments Available For Sale (Tables)	3 Months Ended
	Mar. 31, 2015
Investments Available For Sale [Abstract]
Schedule Of Available For Sale Investments
										Fair Value Measurements Using
										Quoted Prices in		Significant
										Active Markets		Other
						Gross		Gross		for		Observable		Total
		Par		Amortized		Unrealized		Unrealized		Identical Assets		Inputs		Fair Value
		Value		Cost		Gains		Losses		(Level 1)		(Level 2)		Measurements
	31-Mar-15
	U.S. Treasury securities	$	35,800	$	35,796	$	1	$	-	$	35,797	$	-	$	35,797
	31-Dec-14
	U.S. Treasury securities	$	35,900	$	35,897	$	1	$	-	$	35,898	$	-	$	35,898

Investments_Held_To_Maturity_T

Investments Held To Maturity (Tables)	3 Months Ended
	Mar. 31, 2015
Investments Held To Maturity [Abstract]
Schedule Of Held To Maturity Securities
						Fair Value Measurements Using
						Quoted Prices in		Significant
						Active Markets		Other
						for		Observable			Unobservable	Total
		Par		Amortized		Identical Assets		Inputs			Inputs	Fair Value
		Value		Cost		(Level 1)		(Level 2)			(Level 3)	Measurements
	31-Mar-15
	Non-public bond	$	10,050	$	11,382	$	-	$	-	$	11,382	$	11,382
	31-Dec-14
	Non-public bond	$	10,050	$	11,368	$	-	$	-	$	11,368	$	11,368

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Intangible Assets, Net [Abstract]
Schedule Of Intangible Assets
		March 31,		December 31,		Amortization
		2015		2014		(in years)
	Above market lease contracts	$	8,584	$	9,151	1 to 24
	Lease in place value		2,847		3,045	1 to 24
	Intangible assets	$	11,431	$	12,196
	Below market lease contracts	$	4,517	$	4,760	1 to 24

Equity_Method_Investments_Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2015
Equity Method Investments [Abstract]
Schedule of Equity Method Investments
		March 31,		December 31,
		2015		2014
	BRP Holding	$	75,526	$	76,478
	BRP Hotel		24,107		24,750
	Total	$	99,633	$	101,228
Schedule of Losses Related To Equity Investment
		2015
	BRP Holding	$	-952
	BRP Hotel		-643
	Total	$	-1,595

Loss_Per_Common_Share_Tables

Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Loss Per Common Share [Abstract]
Schedule of Calculation of Numerator and Denominator For Loss Per Common Share
		2015		2014
	Numerator – net loss attributable to HomeFed Corporation common shareholders	$	-3,237	$	-1,981
	Denominator for basic and diluted loss per share– weighted average shares		15,388		8,190

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Schedule Of Future Minimum Annual Rental Expense
		Remainder of 2015	$	5,671
		2016		7,561
		2017		7,561
		2018		6,301
		2019		-
		Thereafter		-
			$	27,094

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Schedule Of Segment Reporting
		2015		2014
		(in thousands)
	Revenues:
	Real estate	$	6,548	$	3,184
	Corporate		3		3
	Total consolidated revenues	$	6,551	$	3,187
	Loss from continuing operations before income
	taxes and noncontrolling interest:
	Real estate	$	-2,184	$	699
	Farming		-988		-1,020
	Corporate		-2,304		-2,919
	Total consolidated loss from continuing
	operations before income taxes and noncontrolling
	interest	$	-5,476	$	-3,240
	Depreciation and amortization expenses:
	Real estate	$	1,016	$	101
	Farming		25		4
	Corporate		7		6
	Total consolidated depreciation and amortization expenses	$	1,048	$	111

Acquisition_Narrative_Details

Acquisition (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Business Acquisition [Line Items]
Shares issued to acquire assets	7,500,000
Cash payments net of cash acquired	$12,500,000
Shares issued to acquire entity	6,986,337
Shares issued to acquire entity, subject to approval	513,663
Aggregate purchase price	215,700,000
Aggregate purchase price per share	$29
Change in estimate related to working capital adjustments	$4,650,000
Pacho Limited Partnership And San Luis Bay Limited Partnership [Member]
Business Acquisition [Line Items]
Noncontrolling interest percentage	10.00%
Minimum [Member]
Business Acquisition [Line Items]
Discount rate	7.00%
Cap rate	6.50%
Maximum [Member]
Business Acquisition [Line Items]
Discount rate	22.00%
Cap rate	9.50%

Acquisition_Schedule_Of_Alloca

Acquisition (Schedule Of Allocation Of Purchase Price To Assets Acquired And Liabilities Assumed) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Acquisition [Abstract]
Real estate held for development	$38,292
Real estate held for investment	41,187
Cash	13,983
Restricted cash	1,096
Investment held to maturity	10,619
Equity method investments	102,743
Intangible assets	14,960
Accounts receivable, deposits and other assets	14,225
Total assets	237,105
Accounts Payable	2,023
Below market lease contract intangibles	5,588
Net deferred tax liability	11,843
Other liabilities	232
Total liabilities	19,686
Noncontrolling interests	1,710
Net assets acquired	$215,709

Acquisition_Schedule_Of_Acquir

Acquisition (Schedule Of Acquired Finite-Lived Intangible Assets) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$14,960
Below market lease contracts	5,588
Above Market Lease Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	10,874
Leases In Place Value [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$4,086
Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Below market lease contracts, amortization period	1 year
Minimum [Member] | Above Market Lease Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	1 year
Minimum [Member] | Leases In Place Value [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	1 year
Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Below market lease contracts, amortization period	24 years
Maximum [Member] | Above Market Lease Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	24 years
Maximum [Member] | Leases In Place Value [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	24 years

Acquisition_Schedule_Of_Profor

Acquisition (Schedule Of Proforma Information) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014
Acquisition [Abstract]
Revenues	$8,370
Net loss attributable to HomeFed common shareholders	($2,908)
Basic and diluted loss per common share attributable to HomeFed common shareholders	($0.19)

Investments_Available_For_Sale2

Investments Available For Sale (Schedule Of Available For Sale Investments) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$35,796	$35,897
Available-for-sale Securities, Total	35,797	35,898
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Par Value	35,800	35,900
Amortized Cost	35,796	35,897
Gross Unrealized Gains	1	1
Gross Unrealized Losses
Available-for-sale Securities, Total	35,797	35,898
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Total	35,797	35,898
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Total

Investments_Held_To_Maturity_D

Investments Held To Maturity (Details) (USD $)	0 Months Ended
	Mar. 28, 2014	Mar. 31, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Fair value of investment		$11,382,000	$11,368,000
Series 2006B Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Principal		30,795,000
Amount outstanding		13,850,000
Interest rate		7.50%
Fair value of investment	$10,619,000
Expected Future cash flows discount rate	10.00%

Investments_Held_To_Maturity_S

Investments Held To Maturity (Schedule Of Held To Maturity) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Fair value of investment	$11,382,000	$11,368,000
Non-Public Bond [Member]
Schedule of Held-to-maturity Securities [Line Items]
Par Value	10,050,000	10,050,000
Amortized Cost	11,382,000	11,368,000
Fair value of investment	11,382,000	11,368,000
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Non-Public Bond [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair value of investment
Significant Other Observable Inputs (Level 2) [Member] | Non-Public Bond [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair value of investment
Unobservable Inputs (Level 3) [Member] | Non-Public Bond [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair value of investment	$11,382,000	$11,368,000

Intangible_Assets_Narrative_De

Intangible Assets (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Intangible Assets, Net [Abstract]
Amortization expense	$200,000
Future amortization expense, intangible assets, 2015	550,000
Future amortization expense, intangible assets, 2016	550,000
Future amortization expense, intangible assets, 2017	500,000
Future amortization expense, intangible assets, 2018	300,000
Future amortization expense, intangible assets, 2019	150,000
Future amortization expense, intangible assets, thereafter	$800,000

Intangible_Assets_Schedule_Of_

Intangible Assets (Schedule Of Intangible Assets) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Intangible assets	11,431	$12,196
Below market lease contracts	4,517	4,760
Above Market Lease Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	8,584	9,151
Leases In Place Value [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	2,847	$3,045
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Below market lease contracts, Amortization	1 year
Minimum [Member] | Above Market Lease Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Amortization	1 year
Minimum [Member] | Leases In Place Value [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Amortization	1 year
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Below market lease contracts, Amortization	24 years
Maximum [Member] | Above Market Lease Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Amortization	24 years
Maximum [Member] | Leases In Place Value [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Amortization	24 years

Equity_Method_Investments_Narr

Equity Method Investments (Narrative) (Details)	1 Months Ended
	Sep. 30, 2014	Mar. 31, 2015
BRP Holding [Member]
Schedule of Equity Method Investments [Line Items]
Shares issued in exchange for investment	513,663
Ownership percentage	61.25%
BRP Hotel [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage		25.80%

Equity_Method_Investments_Sche

Equity Method Investments (Schedule of Equity Method Investments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Equity Method Investments [Line Items]
Equity method investments	$99,633	$101,228
BRP Holding [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	75,526	76,478
BRP Hotel [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	$24,107	$24,750

Equity_Method_Investments_Sche1

Equity Method Investments (Schedule of Losses Related to Equity Investment) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]
Losses from equity method investments	($1,595)	($3)
BRP Holding [Member]
Schedule of Equity Method Investments [Line Items]
Losses from equity method investments	-952
BRP Hotel [Member]
Schedule of Equity Method Investments [Line Items]
Losses from equity method investments	($643)

Loss_Per_Common_Share_Details

Loss Per Common Share (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Loss Per Common Share [Abstract]
Numerator- net income attributable to HomeFed Corporation common shareholders	($3,237)	($1,981)
Denominator for basic and diluted loss per share - weighted average shares	15,388	8,190

Loss_Per_Common_Share_Narrativ

Loss Per Common Share (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Loss Per Common Share [Abstract]
Antidilutive outstanding options excluded from the computation of earnings per share	34,000	29,000

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Administrative services fee expenses	$45,000	$45,000
Rental income	5,458,000	287,000
Leucadia [Member]
Related Party Transaction [Line Items]
Monthly management fee income	5,000
Expiration of sublease to Leucadia	1-Oct-18
Other Operating Income	3,000	3,000
Rental income	$15,000

Related_Party_Transactions_Sch

Related Party Transactions (Schedule Of Future Minimum Annual Rental Expense) (Details) (BRP Holding [Member], USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
BRP Holding [Member]
Related Party Transaction [Line Items]
Remainder of 2015	$5,671
2016	7,561
2017	7,561
2018	6,301
Total	$27,094

Interest_and_Other_Income_Deta

Interest and Other Income (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Interest And Other Income [Abstract]
Interest income	$300,000	$30,000

Real_Estate_Activity_Details

Real Estate Activity (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2015
			property
Real Estate Properties [Line Items]
Revenues from revenue or profit sharing agreements with homebuilders	$940,000	$2,622,000
The Market Common [Member]
Real Estate Properties [Line Items]
Revenues from revenue or profit sharing agreements with homebuilders	400,000
Otay Ranch [Member]
Real Estate Properties [Line Items]
Area of real estate property (acres)	64
Cash consideration	3,750,000
Single Family Lots [Member] | Village A [Member]
Real Estate Properties [Line Items]
Number of real estate lots sold		10
Cash proceeds		1,650,000
Single Family Lots [Member] | The Market Common [Member]
Real Estate Properties [Line Items]
Number of real estate lots sold	2
Cash proceeds	70,000
Single Family Lots [Member] | The Market Common [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of real estate lots sold			15
Cash proceeds			550,000
Multi-Family Lots [Member] | The Market Common [Member]
Real Estate Properties [Line Items]
Number of real estate lots sold	10
Cash proceeds	250,000
Finished Single Family Homes [Member] | Otay Ranch [Member]
Real Estate Properties [Line Items]
Number of single family homes entitled to be developed	62
Industrial Development [Member] | Otay Ranch [Member]
Real Estate Properties [Line Items]
Area of real estate property (acres)	26
Miscellaneous Buildings [Member] | Rockport [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Cash proceeds			650,000
Homebuilder [Member] | Village B [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of real estate lots agreed to sell			37
Sales price of real estate lots contracted to sell			5,200,000
Homebuilder [Member] | The Market Common [Member]
Real Estate Properties [Line Items]
Non-refundable option payment received			25,000
Homebuilder [Member] | Single Family Lots [Member] | The Market Common [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of real estate lots agreed to sell			30
Sales price of real estate lots contracted to sell			1,050,000
Homebuilder [Member] | Multi-Family Lots [Member] | The Market Common [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of real estate lots agreed to sell			43
Sales price of real estate lots contracted to sell			$1,100,000

Commitments_Narrative_Details

Commitments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
	acre
Business Acquisition [Line Items]
Restricted cash	$6,406,000	$6,419,000
SweetBay Project [Member]
Business Acquisition [Line Items]
Loan outstanding of school	5,525,000
Area of land, pledged as collateral	42
The Market Common [Member]
Business Acquisition [Line Items]
Letter of credit	5,000,000
Restricted cash	5,000,000
BRP Leasing [Member]
Business Acquisition [Line Items]
Amount of indemnification	38,050,000
Amount of indemnification in projected operating expenses and taxes	10,950,000
Escrow Deposits Related to Leasing activities	1,400,000
BRP Leasing [Member] | Minimum [Member]
Business Acquisition [Line Items]
Restricted cash	500,000
Flat Rock [Member]
Business Acquisition [Line Items]
Amount of legal costs to be reimbursed	350,000
Environmental Remediation, Area Of Land	30
Recovery sought on purchase agreement	$13,500,000

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total consolidated revenues	$6,551	$3,187
Total consolidated loss from continuing operations before income taxes and noncontrolling interest	-5,476	-3,240
Total consolidated depreciation and amortization expenses	1,048	111
Real Estate [Member]
Segment Reporting Information [Line Items]
Total consolidated revenues	6,548	3,184
Total consolidated loss from continuing operations before income taxes and noncontrolling interest	-2,184	699
Total consolidated depreciation and amortization expenses	1,016	101
Farming [Member]
Segment Reporting Information [Line Items]
Total consolidated loss from continuing operations before income taxes and noncontrolling interest	-988	-1,020
Total consolidated depreciation and amortization expenses	25	4
Corporate [Member]
Segment Reporting Information [Line Items]
Total consolidated revenues	3	3
Total consolidated loss from continuing operations before income taxes and noncontrolling interest	-2,304	-2,919
Total consolidated depreciation and amortization expenses	$7	$6