Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss)	$ 8,415	$ (8,814)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation and amortization	12,446	11,513
Amortization of deferred financing fees	1,006	998
Gain on sale of investment property	(18,112)	0
Mark to market adjustment on derivative financial instruments	838	2,462
Other non-cash adjustments	14	8
Changes in operating assets and liabilities:
Increase in prepaid expenses and other assets	(649)	(2,573)
Decrease/(increase) in accounts payable and accrued and other liabilities	(807)	1,300
Net cash provided by operating activities	3,151	4,894
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property	(2,670)	(3,064)
Purchases of marketable securities	(764)	(903)
Proceeds from sale of marketable securities	784	838
Proceeds from disposition of investment property	59,228	0
Proceeds from repayment of note receivable, net	0	4,898
Net cash provided by investing activities	56,578	1,769
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable	69,953	210
Payments on notes payable	(92,185)	(6,284)
Payment of loan fees and expenses	(2,361)	(432)
Redemption and cancellation of common stock	(6,000)	(6,000)
Net cash used in financing activities	(30,593)	(12,506)
Change in cash, cash equivalents and restricted cash	29,136	(5,843)
Cash, cash equivalents and restricted cash, beginning of year	27,797	66,546
Cash, cash equivalents and restricted cash, end of period	56,933	60,703
Supplemental cash flow information for the periods indicated is as follows:
Cash paid for interest	12,793	12,629
Cash paid for taxes	111	81
Distributions declared	1,480	8,021
Capital expenditures for investment property in accounts payable and accrued and other liabilities	296	435
The following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in our statements of cash flows for the periods presented:
Cash and cash equivalents	49,938	54,482
Restricted cash	6,995	6,221
Total cash, cash equivalents and restricted cash	$ 56,933	$ 60,703