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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Class A common stock
Common Stock
Class C common stock
Additional Paid-in Capital
Cumulative Earnings
Accumulated Other Comprehensive (Loss) Income
Noncontrolling Interests
Total
Beginning Balance at Dec. 31, 2023 $ 39   $ 122,369 $ 24,943   $ 323,248 $ 470,599
Beginning Balance (Shares) at Dec. 31, 2023 3,871,265 8,489          
Issuance of restricted Class A common stock and long-term incentive plan LTIP Units for equity incentive plan compensation, net of shares withheld for employee taxes     451       451
Issuance of restricted Class A common stock and long-term incentive plan LTIP Units for equity incentive plan compensation, net of shares withheld for employee taxes (Shares) 73,551            
Issuance of long-term incentive plan ("LTIP") Units for equity incentive plan compensation, net of forfeitures           2,865 2,865
Issuance of C-LTIP Units to Manager           6,644 6,644
Series A Preferred Stock distributions declared       (4,022)     (4,022)
Series A Preferred Stock accretion       (244)     (244)
Distributions to partially owned properties' noncontrolling interests           (145) (145)
Acquisition of noncontrolling interests     (2,211)     (650) (2,861)
Contributions from noncontrolling interests           5,903 5,903
Total comprehensive income         $ (164) (363) (527)
Holder redemption of Series A Preferred Stock and conversion into Class A common stock $ 1   164       165
Holder redemption of Series A Preferred Stock and conversion into Class A common stock (in shares) 9,103            
Adjustment for noncontrolling interest ownership in the Operating Partnership     (2,417)     2,417  
Adjustment for noncontrolling interest ownership in partially owned properties     139     (139)  
Net income (loss)       32   (12,123) (12,091)
Ending Balance at Dec. 31, 2024 $ 40   118,495 20,709 (164) 327,657 466,737
Ending balance (Shares) at Dec. 31, 2024 3,953,919 8,489          
Issuance of restricted Class A common stock and long-term incentive plan LTIP Units for equity incentive plan compensation, net of shares withheld for employee taxes     647       647
Issuance of restricted Class A common stock and long-term incentive plan LTIP Units for equity incentive plan compensation, net of shares withheld for employee taxes (Shares) 83,645            
Issuance of LTIP Units for equity incentive plan compensation           3,346 3,346
Issuance of C-LTIP Units to Manager           875 875
Common stock distributions declared       (2,018)     (2,018)
Series A Preferred Stock distributions declared       (9,203)     (9,203)
Series A Preferred Stock accretion       (4,538)     (4,538)
Distributions to Operating Partnership noncontrolling interests           (4,571) (4,571)
Distributions to partially owned properties' noncontrolling interests           (2,287) (2,287)
Acquisition of noncontrolling interests     2,659     (3,713) (1,054)
Contributions from noncontrolling interests           133,640 133,640
Total comprehensive income         175 393 568
Cash redemption of Operating Partnership Units     8     (12) (4)
Holder redemption of Series A Preferred Stock and conversion into Class A common stock     110       110
Holder redemption of Series A Preferred Stock and conversion into Class A common stock (in shares) 9,550            
Cash redemption of Series A Preferred Stock     73       73
Adjustment for noncontrolling interest ownership in the Operating Partnership     (8,308)     8,308  
Adjustment for noncontrolling interest ownership in partially owned properties     7,805     (7,805)  
Net income (loss)       2,250   (34,848) (32,598)
Ending Balance at Dec. 31, 2025 $ 40   $ 121,489 $ 7,200 $ 11 $ 420,983 $ 549,723
Ending balance (Shares) at Dec. 31, 2025 4,047,114 8,489