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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental revenues (including $652, $882 and $931 for 2024, 2023 and 2022, respectively, from related parties) $ 44,763 $ 47,023 $ 34,080
Other income 2,555 3,477 3,464
Total revenue 47,318 50,500 37,544
Expenses:      
Property operating expenses (including $346, $366 and $433 for 2024, 2023 and 2022, respectively, from related parties) 27,063 27,896 18,339
Depreciation and amortization 12,276 13,646 9,686
General and administrative (including $3,871, $4,006 and $4,191 for 2024, 2023 and 2022, respectively, from related parties) 6,395 10,011 10,033
Advisory fee to related party 8,225 10,187 8,753
Total operating expenses 53,959 61,740 46,811
Net operating loss (6,641) (11,240) (9,267)
Interest income (including $8,985, $13,260 and $15,600 for 2024, 2023 and 2022, respectively, from related parties) 19,973 26,847 26,559
Interest expense (7,838) (9,502) (17,529)
Gain on foreign currency transactions 0 993 20,067
Loss on early extinguishment of debt 0 (1,710) (2,805)
Equity in income from unconsolidated joint ventures 1,449 3,242 469,268
(Loss) gain on real estate transactions (23,989) (1,923) 87,132
Income tax provision 3,607 (1,456) (98,108)
Net (loss) income (13,439) 5,251 475,317
Net income attributable to noncontrolling interest (1,264) (1,283) (101,968)
Net (loss) income applicable to the Company $ (14,703) $ 3,968 $ 373,349
Earnings per share      
Basic (in dollars per share) $ (0.91) $ 0.25 $ 23.11
Diluted (in dollars per share) $ (0.91) $ 0.25 $ 23.11
Weighted average common shares used in computing earnings per share      
Basic (in shares) 16,152,043 16,152,043 16,152,043
Diluted (in shares) 16,152,043 16,152,043 16,152,043