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Consolidated Statements of Operations - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES:        
Rental and other property income $ 19,249,000 $ 18,052,000 $ 38,022,000 $ 32,938,000
Hotel income 11,696,000 11,182,000 22,960,000 22,105,000
Interest and other income 3,494,000 3,526,000 7,455,000 6,629,000
Hotel revenues 34,439,000 32,760,000 68,437,000 61,672,000
EXPENSES:        
Rental and other property operating 17,196,000 16,979,000 35,177,000 32,204,000
Asset management and other fees to related parties           425,000 627,000 819,000 1,347,000
Interest 9,226,000 8,709,000 18,203,000 14,945,000
General and administrative 1,403,000 1,684,000 3,022,000 3,609,000
Transaction-related costs 135,000 0 825,000 3,360,000
Depreciation and amortization 6,456,000 20,472,000 12,934,000 29,974,000
Total Expenses 36,126,000 50,058,000 73,433,000 88,162,000
Income (loss) from unconsolidated entities 1,123,000 (904,000) 797,000 (136,000)
Gain on sale of real estate (Note 3) 0 0 0 1,104,000
LOSS BEFORE PROVISION FOR INCOME TAXES (564,000) (18,202,000) (4,199,000) (25,522,000)
Provision for income taxes 288,000 159,000 558,000 415,000
NET LOSS (852,000) (18,361,000) (4,757,000) (25,937,000)
Net loss attributable to non-controlling interests 56,000 1,002,000 231,000 1,627,000
NET LOSS ATTRIBUTABLE TO THE COMPANY (796,000) (17,359,000) (4,526,000) (24,310,000)
Redeemable preferred stock dividends declared or accumulated (Note 11) (7,876,000) (6,141,000) (15,635,000) (11,532,000)
Redeemable preferred stock deemed dividends (Note 11) (428,000) 0 (428,000) 0
Redeemable preferred stock redemptions (Note 11) (567,000) (315,000) (1,373,000) (688,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (9,667,000) $ (23,815,000) $ (21,962,000) $ (36,530,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:        
Basic (in usd per share) $ (0.43) $ (1.05) $ (0.97) $ (1.61)
Diluted (in usd per share) $ (0.43) $ (1.05) $ (0.97) $ (1.61)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 22,738 22,707 22,738 22,707
Diluted (in shares) 22,738 22,707 22,738 22,707
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Hotel [Member] Hotel [Member] Hotel [Member] Hotel [Member]
Corporate        
EXPENSES:        
Expense reimbursements to related parties $ 612,000 $ 677,000 $ 1,217,000 $ 1,205,000
Lending Segment        
EXPENSES:        
Expense reimbursements to related parties $ 673,000 $ 910,000 $ 1,236,000 $ 1,518,000