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Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Distributions Declared
On July 28, 2025, the Board approved a quarterly distribution of $0.15 per common share, payable on September 30, 2025 to shareholders of record on August 14, 2025. The distribution on the Company’s common shares consists of a combination of cash and shares, with the cash component of the distribution (other than cash paid in lieu of fractional shares) not to exceed 20% in the aggregate, with the balance being paid in the Company’s common shares. Also on July 28, 2025, the Board approved a quarterly distribution of $0.34375 per Series A Preferred Share, payable on September 30, 2025 to shareholders of record on September 23, 2025.
Dominion Debt Extension
On August 8, 2025, the Company elected to use one of the one-year extensions under the Dominion Note to extend the maturity date to August 8, 2026.
Hospitality Debt, Guarantor Substitution
On August 4, 2025, the Company executed a loan modification agreement related to the PC&B Loan. As part of the modification, the original guarantor, which was a consolidated subsidiary of the Company, was replaced by the Company. The Company continues to guarantee the loan obligations through the replacement guarantor.
Share Repurchases
From July 1 through August 14, 2025, the Company has purchased 72,988 shares of its common stock, totaling approximately $0.3 million at an average price of $4.68 per share.