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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Reconciliation of Net Operating Income of Reportable Segments

The following tables present revenues, NOI, capital expenditures and total assets for the three and nine months ended September 30, 2025 and 2024 from our Residential segment as well as Other, and reconcile NOI to net loss as reported (in thousands):

			Three Months Ended September 30, 2025
			Residential						Other						Consolidated
Real estate rental revenue			$	57,687					$	4,416					$	62,103
Real estate expenses			22,706						1,433						24,139
Net operating income			$	34,981					$	2,983					$	37,964
Other expense:

Property management expenses															(2,263)
General and administrative expenses															(14,064)
Depreciation and amortization															(23,771)
Interest expense															(9,661)
Real estate impairment															(111,719)
Net loss															$	(123,514)
Capital expenditures			$	8,684					$	1					$	8,685
Total assets			$	1,598,307					$	88,552					$	1,686,859

			Three Months Ended September 30, 2024
			Residential						Other						Consolidated
Real estate rental revenue			$	56,427					$	4,628					$	61,055
Real estate expenses			20,820						1,438						22,258
Net operating income			$	35,607					$	3,190					$	38,797
Other expense:
Property management expenses															(2,235)
General and administrative expenses															(6,354)
Depreciation and amortization															(23,474)
Interest expense															(9,557)
Loss on extinguishment of debt															(147)
Net loss															$	(2,970)
Capital expenditures			$	11,883					$	55					$	11,938
Total assets			$	1,728,078					$	125,081					$	1,853,159

			Nine Months Ended September 30, 2025
			Residential						Other						Consolidated
Real estate rental revenue			$	172,377					13,318						$	185,695
Real estate expenses			64,576						4,219						68,795
Net operating income			$	107,801					$	9,099					$	116,900
Other income (expense):
Property management expenses															(6,765)
General and administrative expenses															(30,982)
Depreciation and amortization															(70,570)
Interest expense															(28,619)
Real estate impairment															(111,719)
Net loss															$	(131,755)
Capital expenditures			$	23,054					$	82					$	23,136

			Nine Months Ended September 30, 2024
			Residential						Other						Consolidated
Real estate rental revenue			$	166,790					13,881						$	180,671
Real estate expenses			61,800						4,159						65,959
Net operating income			$	104,990					$	9,722					$	114,712
Other income (expense):
Property management expenses															(6,628)
General and administrative expenses															(18,688)
Depreciation and amortization															(72,312)

Interest expense															(28,435)
Loss on extinguishment of debt															(147)
Other income															1,410
Net loss															$	(10,088)
Capital expenditures			$	33,320					$	164					$	33,484

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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