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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Sep. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Real estate held for sale | $ 141,447,000 | $ 0
Land | 31,258,000 | 65,009,000
Buildings and improvements | 152,611,000 | 239,978,000
Accumulated depreciation | (21,328,000) | (39,940,000)
Accounts payable, accrued expenses and other liabilities | 22,852,000 | 31,971,000
Variable Interest Entities |  |
Real estate held for sale | 8,500,000 |
Cash | 64,000 |
Land |  | 3,300,000
Buildings and improvements |  | 2,800,000
Accumulated depreciation |  | (900,000)
Other assets |  | $ 3,200,000
Accounts payable, accrued expenses and other liabilities | $ 62,600 |
Class A Common Shares [Member] |  |
Common shares, par value | $ 0.01 | $ 0.01
Common shares, authorized | 100,000,000 | 100,000,000
Common shares, outstanding | 56,324,607 | 56,274,466
Common shares, issued | 56,324,607 | 56,274,466
Series A Preferred Shares [Member] |  |
Preferred shares, par value | $ 0.01 | $ 0.01
Preferred shares, authorized | 10,000,000 | 10,000,000
Preferred shares, outstanding | 2,800,000 | 2,800,000
Preferred shares, issued | 2,800,000 | 2,800,000
Preferred shares, liquidation preference | $ 70,000,000 | $ 70,000,000

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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(15)(5)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(15)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 + Details
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