XML 21 R4.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue      
Rental revenue $ 147,682 $ 138,410 $ 140,934
Other income 526 370 115
Total revenue 148,208 138,780 141,049
Expenses      
General and administrative 19,998 21,123 16,853
Operating expenses 32,620 29,251 28,082
Depreciation expense 44,025 40,427 41,266
Amortization expense 15,017 14,932 16,869
Interest expense 31,754 28,689 30,893
Transaction expense 0 155 44
Total expenses 143,414 134,577 134,007
Income before other income (expense) 4,794 4,203 7,042
Gain on sale of investment properties 1,487 4,205 15,560
Impairment of investment properties (13,014) (1,696) 0
Equity loss from unconsolidated joint venture (150) (20) 0
Loss on extinguishment of debt 0 0 (868)
Net (loss) income (6,883) 6,692 21,734
Less: Preferred stock dividends (6,280) (5,822) (5,822)
Less: Net loss (income) attributable to noncontrolling interest 1,047 (59) (1,122)
Net (loss) income attributable to common stockholders $ (12,116) $ 811 $ 14,790
Net (loss) income attributable to common stockholders per share - basic $ (0.91) $ 0.06 $ 1.13
Net (loss) income attributable to common stockholders per share - diluted $ (0.91) $ 0.06 $ 1.13
Weighted average shares outstanding - basic 13,379 13,187 13,110
Weighted average shares outstanding - diluted 13,379 13,187 13,110