XML 13 R2.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Land and improvements $ 559,419 $ 559,419
Building and improvements 841,333 836,437
Tenant improvements 6,475 6,386
Furniture, fixtures and equipment 13,912 13,684
Total investment in real estate 1,421,139 1,415,926
Accumulated depreciation (282,910) (266,976)
Investment in real estate, net 1,138,229 1,148,950
Cash and cash equivalents 37,702 30,815
Restricted cash 24,873 27,339
Tenant and other receivables, net of allowance for doubtful accounts of $296 and $317, respectively 5,641 8,676
Deferred rent 2,540 2,067
Deferred costs and intangible assets, net 5,152 5,326
Prepaid expenses and other assets 6,601 11,146
TOTAL ASSETS 1,220,738 1,234,319
Liabilities:    
Notes payable, net of unamortized loan costs of $7,178 and $8,712, respectively 1,280,048 1,277,521
Accounts payable and accrued liabilities 25,255 18,092
Security deposits 10,007 9,519
Other liabilities 10,821 9,941
TOTAL LIABILITIES 1,326,131 1,315,073
Equity (Deficit):    
Preferred stock, $0.01 par value; 100,000 shares authorized (including 140 shares of 12.5% Series A cumulative non-voting preferred stock), zero shares issued and outstanding 0 0
Common stock, $0.01 par value; 500,000,000 shares authorized, 16,157,566 and 16,146,546 shares issued and outstanding, at June 30, 2026, and December 31, 2025, respectively 160 160
Additional paid-in-capital 90,983 90,677
Accumulated deficit (131,234) (121,543)
Total stockholders’ equity (deficit) (40,091) (30,706)
Non-controlling interests (65,302) (50,048)
TOTAL EQUITY (DEFICIT) (105,393) (80,754)
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 1,220,738 $ 1,234,319