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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Information

Schedule of segment net operating income




		Three Months Ended			Nine Months Ended			Three Months Ended			Nine Months Ended
(in thousands)		September 30, 2025			September 30, 2025			September 30, 2024			September 30, 2024
Total consolidated revenues			27,300		$	81,122			29,682		$	91,737

Reconciling items:
Amortization of above/below market leases			—			—			(5)			(17)

Less:
Real estate operating expenses			10,671			31,467			11,574			33,620
Real estate taxes and insurance			5,262			14,822			5,512			17,175
Segment NOI		$	11,367		$	34,833		$	12,591		$	40,925



		Three Months Ended				Nine Months Ended		Three Months Ended			Nine Months Ended
Reconciliation to Net loss			September 30, 2025		September 30, 2025			September 30, 2024			September 30, 2024
Net loss		$	(8,326)		$	(37,637)		$	(15,622)		$	(44,197)
Add (deduct):
Loss on extinguishment of debt			7			12			477			614
(Gain) loss on sale of properties and impairment of assets held for sale, net			—			12,900			7,254			20,459
Depreciation and amortization			10,550			32,000			10,911			34,018
Amortization of above/below market leases			—			—			(5)			(17)
General and administrative			3,034			9,799			3,275			11,069
Interest expense			6,348			18,378			6,585			20,513
Interest income			(249)			(756)			(340)			(1,696)
Tax expense			3			137			56			162
Segment NOI		$	11,367		$	34,833		$	12,591		$	40,925