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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Real estate investments, net $ 687,151 $ 609,058
Cash and cash equivalents 31,812 48,373
Restricted cash and equivalents 34,946 45,283
Straight-line rent receivable, net 34,804 27,702
Right of use lease asset 851 1,204
Goodwill, other intangible assets and lease rights 68,352 27,947
Deferred financing expenses 5,358 6,162
Notes receivable, net 20,821 16,585
Other assets 1,130 5,275
Total Assets 885,225 787,589
Liabilities    
Accounts payable and accrued liabilities 22,369 18,718
Bonds, net 330,612 209,944
Note payable 42,624
Senior debt 417,262 460,591
Operating lease liability 851 1,204
Other liabilities 20,983 13,561
Total Liabilities 834,701 704,018
Commitments and Contingencies (Notes 8 and 14)
Equity    
Preferred stock, $.0001 par value, 100,000,000 shares authorized, no shares issued and outstanding
Common stock, $.0001 par value, 500,000,000 shares authorized, 13,257,425 and 12,062,309 shares issued and outstanding in 2025 and 2024 1 1
Additional paid in capital 18,554 16,535
Accumulated other comprehensive (loss) income (7,682) 340
Retained earnings 1,233 1,292
Total Stockholders’ Equity 12,106 18,168
Non-controlling interest 38,418 65,403
Total Equity 50,524 83,571
Total Liabilities and Equity $ 885,225 $ 787,589