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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Components of Deferred Costs

Deferred costs consisted of the following at December 31, 2024 and 2023 (in thousands):

			December 31, 2024						December 31, 2023
Loan costs			$	6,323					$	6,256
Franchise fees			4,961						4,311
Other			334						102
			11,618						10,669
Less accumulated amortization			(7,580)						(6,423)
Deferred costs, net			$	4,038					$	4,246

Schedule of Mortgage Loans and Unsecured Term Loans

Mortgage debt consisted of the following at December 31, 2024 and 2023 (in thousands):

			December 31, 2024						December 31, 2023
Mortgage debt			$	159,182					$	396,109
Deferred financing costs			(1,971)						(1,565)
Mortgage debt, net			$	157,211					$	394,544

The balances as of December 31, 2024 and 2023 were as follows (in thousands):

			December 31, 2024						December 31, 2023
Unsecured term loan			$	140,000					$	90,000
Deferred financing costs			(362)						(467)
Unsecured term loan, net			$	139,638					$	89,533

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Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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