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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Rental revenue (including reimbursable) $ 35,189,000 $ 28,474,000
Interest income on loans receivable 2,484,000 978,000
Total revenues 37,673,000 29,452,000
Operating expenses    
Property 4,102,000 3,936,000
General and administrative 5,707,000 4,909,000
Depreciation and amortization 17,541,000 14,949,000
Provisions for impairment 3,662,000 0
Transaction costs 129,000 109,000
Total operating expenses 31,141,000 23,903,000
Other (expense) income    
Interest expense, net (6,180,000) (3,944,000)
Gain (loss) on sales of real estate, net 997,000 (319,000)
Total other (expense) income, net (5,463,000) (4,111,000)
Net income before income taxes 1,069,000 1,438,000
Income tax (expense) benefit (17,000) 43,000
Net income 1,052,000 1,481,000
Net income attributable to noncontrolling interests 7,000 9,000
Net income attributable to common stockholders $ 1,045,000 $ 1,472,000
Amounts available to common stockholders per common share:    
Basic (in dollars per share) $ 0.01 $ 0.03
Diluted (in dollars per share) $ 0.01 $ 0.03
Weighted average common shares:    
Basic (in shares) 73,248,804 58,155,738
Diluted (in shares) 74,565,790 58,883,386
Change in value on derivatives, net $ 9,128,000 $ (5,979,000)
Total comprehensive income (loss) 10,180,000 (4,498,000)
Comprehensive income (loss) attributable to noncontrolling interests 58,000 (40,000)
Comprehensive income (loss) attributable to common stockholders 10,122,000 (4,458,000)
Other Income $ (280,000) $ 152,000