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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental revenues (including $231 and $223 for the three months ended June 30, 2023 and 2022, respectively, and $499 and $479 for the six months ended June 30, 2023 and 2022, respectively, from related parties) $ 11,389 $ 7,259 $ 22,398 $ 14,740
Other income 850 870 1,529 1,176
Total revenue 12,239 8,129 23,927 15,916
Expenses:        
Property operating expenses (including $99 and $110 for the three months ended June 30, 2023 and 2022, respectively, and $199 and $227 for the six months ended June 30, 2023 and 2022, respectively, from related parties) 7,031 3,812 13,137 7,840
Depreciation and amortization 3,200 2,298 6,302 4,647
General and administrative (including $700 and $690 for the three months ended June 30, 2023 and 2022, respectively, and $2,239 and $2,080 for the six months ended June 30, 2023 and 2022, respectively, from related parties) 3,684 2,194 6,845 4,914
Advisory fee to related party 2,183 2,858 4,588 6,043
Total operating expenses 16,098 11,162 30,872 23,444
Net operating loss (3,859) (3,033) (6,945) (7,528)
Interest income (including $4,708 and $3,609 for the three months ended June 30, 2023 and 2022, respectively, and $9,311 and $6,994 for the six months ended June 30, 2023 and 2022, respectively, from related parties) 7,898 7,625 16,193 12,902
Interest expense (2,480) (4,595) (5,620) (9,257)
Gain on foreign currency transactions     993 17,904
Loss on early extinguishment of debt (1,710) 0 (1,710) (1,639)
Equity in income from unconsolidated joint ventures 293 2,048 2,712 7,242
Gain on sale or write-down of assets, net 188 3,893 188 15,041
Income tax provision (49) (40) (1,289) (68)
Net income (loss) 303 20,030 4,522 34,597
Net income attributable to noncontrolling interests (178) (3,718) (1,419) (6,971)
Net income attributable to common shares $ 125 $ 16,312 $ 3,103 $ 27,626
Earnings per share - basic and diluted        
Basic (in dollars per share) $ 0.01 $ 1.01 $ 0.19 $ 1.71
Diluted (in dollars per share) $ 0.01 $ 1.01 $ 0.19 $ 1.71
Weighted average common shares used in computing earnings per share        
Basic (in shares) 16,152,043 16,152,043 16,152,043 16,152,043
Diluted (in shares) 16,152,043 16,152,043 16,152,043 16,152,043