CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues
Rental income	$ 3,713	$ 3,985	$ 7,358	$ 8,032
Interest income	2,295	1,708	4,397	3,390
Dividend income	7,682	7,196	19,492	14,245
Other income	313	373	591	400
Total revenues	21,034	22,274	50,108	35,079
Expenses
Property operating expense	5,523	6,756	12,484	8,333
Property management fee	387	185	906	361
Real estate taxes and insurance	1,573	1,775	3,414	3,014
Advisory and administrative fees	7,020	3,443	10,662	6,689
Property general and administrative expenses	1,616	2,225	3,607	2,892
Corporate general and administrative expenses	1,020	3,195	3,947	6,030
Depreciation and amortization	4,028	4,102	7,937	6,898
Impairment loss	0	0	1,752	0
Total expenses	21,167	21,681	44,709	34,217
Operating income (loss)	(133)	593	5,399	862
Interest expense	(6,637)	(7,851)	(13,913)	(12,382)
Equity in income (losses) of unconsolidated equity method ventures ($160, $156, $206 and $370 with related parties, respectively)	190	196	(167)	(958)
Change in unrealized gains (losses)	(41,637)	(3,154)	(74,959)	3,136
Realized gains (losses) ($3,462, $0, $3,462 and $0 with related parties, respectively)	3,462	(3)	4,981	(21,875)
Gain (loss) on sales of real estate	26	0	37	0
Net income (loss) before income taxes	(44,729)	(10,219)	(78,622)	(31,217)
Income tax expense	641	(303)	(572)	(853)
Net loss	(44,088)	(10,522)	(79,194)	(32,070)
Net (income) loss attributable to noncontrolling interests	0	1,894	1,945	1,894
Net (income) loss attributable to redeemable noncontrolling interests in the OP	20	0	20	0
Net loss attributable to common shareholders	$ (45,251)	$ (9,783)	$ (79,569)	$ (32,486)
Weighted average common shares outstanding - basic (in shares)	45,687	39,616	44,303	39,094
Weighted average common shares outstanding - diluted (in shares)	45,687	39,616	44,303	39,094
Loss per share - basic (in dollars per share)	$ (0.99)	$ (0.24)	$ (1.80)	$ (0.83)
Loss per share - diluted (in dollars per share)	$ (0.99)	$ (0.24)	$ (1.80)	$ (0.83)
Series A Preferred Shares
Expenses
Net income (loss) attributable to preferred shareholders	$ (1,155)	$ (1,155)	$ (2,310)	$ (2,310)
Series B Preferred Shares
Expenses
Net income (loss) attributable to preferred shareholders	(28)	0	(30)	0
Rooms
Revenues
Revenues	6,281	8,200	16,631	8,200
Food and beverage
Revenues
Revenues	$ 750	$ 812	$ 1,639	$ 812