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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Information

Schedule of segment net operating income




		Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
(in thousands)		June 30, 2025			June 30, 2025			June 30, 2024			June 30, 2024
Total consolidated revenues		$	26,715		$	53,822		$	30,830		$	62,055

Reconciling items:
Amortization of above/below market leases			—			—			(6)			(12)

Less:
Real estate operating expenses			10,701			20,796			11,027			22,046
Real estate taxes and insurance			4,191			9,560			5,727			11,663
Segment NOI		$	11,823		$	23,466		$	14,070		$	28,334



		Three Months Ended				Six Months Ended		Three Months Ended			Six Months Ended
Reconciliation to Net loss		June 30, 2025			June 30, 2025			June 30, 2024			June 30, 2024
Net loss		$	(7,876)		$	(29,311)		$	(21,023)		$	(28,575)
Add (deduct):
Loss on extinguishment of debt			3			5			—			137
(Gain) loss on sale of properties and impairment of assets held for sale, net			(384)			12,900			13,200			13,205
Depreciation and amortization			10,626			21,450			11,482			23,107
Amortization of above/below market leases			—			—			(6)			(12)
General and administrative			3,281			6,765			3,635			7,794
Interest expense			6,339			12,030			7,082			13,928
Interest income			(248)			(507)			(348)			(1,356)
Tax expense			82			134			48			106
Segment NOI		$	11,823		$	23,466		$	14,070		$	28,334