XML 63 R48.htm IDEA: XBRL DOCUMENT v3.25.1
Investments in Joint Ventures - Schedule of Verge Partnership (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental Revenue $ 28,922 $ 28,979 $ 26,798
Total Revenues 41,774 41,506 37,481
Cost of operations:      
Property taxes 3,437 3,650 4,125
Total cost of operations 30,070 29,806 29,485
Total operating profit/(loss) 11,704 11,700 7,996
Interest expense (3,150) (4,315) (3,045)
Net loss before tax 8,489 6,398 $ 5,577
Verge Joint Venture      
Revenues:      
Rental Revenue 7,252 3,575  
Revenue – other 981 537  
Total Revenues 8,233 4,112  
Cost of operations:      
Depreciation and amortization 4,302 4,006  
Operating expenses 3,051 2,798  
Property taxes 1,059 997  
Total cost of operations 8,412 7,801  
Total operating profit/(loss) (179) (3,689)  
Interest expense (4,876) (5,350)  
Net loss before tax (5,055) (9,039)  
Verge Partnership      
Revenues:      
Rental Revenue 4,451 2,194  
Revenue – other 602 330  
Total Revenues 5,053 2,524  
Cost of operations:      
Depreciation and amortization 2,640 2,458  
Operating expenses 1,873 1,718  
Property taxes 650 612  
Total cost of operations 5,163 4,788  
Total operating profit/(loss) (110) (2,264)  
Interest expense (2,992) (3,283)  
Net loss before tax $ (3,102) $ (5,547)