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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenues    
Management income $ 427
Total revenues 30,272 29,101
Operating Expenses    
Property taxes 7,178 6,885
Property operating expense 1,985 2,947
Depreciation and amortization 8,512 8,248
General and administrative 13,160 8,535
Professional fees 1,724 2,690
Organizational, offering and other costs 2,862 5,592
Impairment 8,982
Total operating expenses 60,504 34,897
Other    
Interest expense, net (13,910) (12,912)
Gain (loss) on sale of real estate 660 (52)
Other income, net 1,179 106
Change in fair value of Earn-out Liability 4,065
PPP loan forgiveness 328
Total other, net (8,006) (12,530)
Net loss (38,238) (18,326)
Net loss attributable to non-controlling interest (13,115) (10,207)
Net loss attributable to stockholders (25,123) (8,119)
Net loss attributable to common stockholders $ (32,475) $ (11,119)
Basic and diluted loss per weighted average common share:    
Net loss per share attributable to stockholders - basic $ (2.45) $ (0.85)
Net loss per share attributable to stockholders - diluted $ (2.45) $ (0.85)
Weighted average common shares outstanding, basic 13,244,388 13,089,848
Weighted average common shares outstanding, diluted 13,244,388 13,089,848
Series 2 Preferred Stock [Member]    
Operating Expenses    
Preferred Series 2 - issuance expense $ 16,101
Other    
Preferred stock distributions declared (4,600)
Series A Preferred Stock [Member]    
Other    
Preferred stock distributions declared (197) (216)
Series 1 Preferred Stock [Member]    
Other    
Preferred stock distributions declared (2,555) (2,784)
Base Rent Income [Member]    
Revenues    
Percentage rental income 8,165 8,345
Percentage Rent Income [Member]    
Revenues    
Percentage rental income $ 22,107 $ 20,329