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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUE        
TOTAL REVENUES $ 38,575 $ 39,036 $ 76,690 $ 78,434
OPERATING EXPENSES        
Property operating expenses 9,272 9,561 19,602 19,672
Real estate taxes and insurance 7,429 7,518 15,126 15,145
General and administrative 4,253 3,819 8,360 7,644
Transaction pursuit costs 0 (10) 0 (10)
Depreciation and amortization 8,023 7,314 16,002 14,950
Loss on impairment of Long-Lived Assets 0 0 0 33,780
TOTAL OPERATING EXPENSES 28,977 28,202 59,090 91,181
Litigation settlement and other (209) (26) (3,809) (26)
INCOME (LOSS) FROM OPERATIONS 9,389 10,808 13,791 (12,773)
Loss on disposal of long-lived assets 0 (685) 0 (685)
Interest expense, net (15,654) (11,479) (31,200) (23,001)
Net loss (6,265) (1,356) (17,409) (36,459)
Net loss attributable to non-controlling interests 3,882 840 10,788 22,596
Net loss attributable to common stockholders $ (2,383) $ (516) $ (6,621) $ (13,863)
Basic and diluted net loss per share (in dollars per share) $ (0.19) $ (0.07) $ (0.49) $ (0.93)
Residential Rental [Member]        
REVENUE        
TOTAL REVENUES $ 32,222 $ 29,054 $ 64,126 $ 58,244
Commercial Real Estate [Member]        
REVENUE        
TOTAL REVENUES $ 6,353 $ 9,982 $ 12,564 $ 20,190