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DISCONTINUED OPERATIONS | 12 Months Ended
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Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | DISCONTINUED OPERATIONS The Company's sale of its former New Jersey office and hotel portfolio (collectively, the “Office Portfolio”) represented a strategic shift in the Company’s operations. As such, the results of these sold properties are classified as discontinued operations for all periods presented. The following table summarizes income (loss) from discontinued operations and the related realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net, for the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
| Year Ended December 31,
| 2025 | 2024 | 2023
Total revenues | $ | (519) |  | $ | 2,255 | $ | 40,649
Operating and other (expenses) income, net (a) | 4,634 |  | (758) |  | (27,967) |
Property impairments | — |  | — |  | (32,516) |
Depreciation and amortization | — |  | (635) |  | (12,840) |
Gain (loss) from extinguishment of debt, net | — |  | — |  | (12) |
Income (loss) from discontinued operations | 4,115 |  | 862 |  | (32,686) |
Gain (loss) on disposition of developable land | — |  | 1,899 |  | 39,271 |
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net | — |  | 1,548 | 2,411
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net | — |  | 3,447 |  | 41,682 |
Total discontinued operations, net | $ | 4,115 |  | $ | 4,309 |  | $ | 8,996 |
(a)Operating and other expenses, net reflects the successful resolution of real estate tax appeals related to formerly owned office properties during the the year ended December 31, 2025.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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