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Consolidated Statements of Operations - USD ($)
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES:        
Rental and other property income $ 16,162,000 $ 18,150,000 $ 49,161,000 $ 56,172,000
Hotel income 7,243,000 6,808,000 30,550,000 29,768,000
Interest and other income 2,829,000 3,658,000 8,507,000 11,113,000
Total Revenues 26,234,000 28,616,000 88,218,000 97,053,000
EXPENSES:        
Rental and other property operating 16,141,000 17,373,000 50,240,000 52,550,000
Asset management and other fees to related parties           331,000 515,000 1,040,000 1,334,000
Interest 10,312,000 9,616,000 30,246,000 27,819,000
General and administrative 2,148,000 2,221,000 6,130,000 5,243,000
Transaction-related costs 598,000 526,000 1,427,000 1,351,000
Depreciation and amortization 7,345,000 6,423,000 20,169,000 19,357,000
Loss on early extinguishment of debt (Note 7) 0 0 88,000 0
Impairment of real estate (Note 3) 0 0 221,000 0
Total Expenses 38,728,000 37,938,000 114,268,000 111,371,000
Loss from unconsolidated entities (697,000) (1,239,000) (2,285,000) (442,000)
Gain on sale of real estate 679,000 0 679,000 0
LOSS BEFORE PROVISION FOR INCOME TAXES (12,512,000) (10,561,000) (27,656,000) (14,760,000)
Provision for income taxes 74,000 15,000 353,000 573,000
NET LOSS (12,586,000) (10,576,000) (28,009,000) (15,333,000)
Net loss attributable to non-controlling interests 131,000 192,000 441,000 423,000
NET LOSS ATTRIBUTABLE TO THE COMPANY (12,455,000) (10,384,000) (27,568,000) (14,910,000)
Redeemable preferred stock dividends declared or accumulated (Note 11) (5,281,000) (7,966,000) (16,045,000) (23,601,000)
Redeemable preferred stock deemed dividends 0 (327,000) 0 (755,000)
Redeemable preferred stock redemptions (Note 11) 0 (16,098,000) (300,000) (17,471,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (17,736,000) $ (34,775,000) $ (43,913,000) $ (56,737,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:        
Basic (in usd per share) $ (23.52) $ (305.04) $ (63.18) $ (550.84)
Diluted (in usd per share) $ (23.52) $ (305.04) $ (63.18) $ (550.84)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 754 114 695 103
Diluted (in shares) 754 114 695 103
Corporate        
EXPENSES:        
Expense reimbursements to related parties $ 1,174,000 $ 592,000 $ 2,691,000 $ 1,809,000
Lending Segment        
EXPENSES:        
Expense reimbursements to related parties $ 679,000 $ 672,000 $ 2,016,000 $ 1,908,000