SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Estimated Useful Life

The Company anticipates the estimated useful lives of its assets by class to be generally as follows:

Buildings	25-40 years
Building improvements	10-40 years
Tenant improvements	Shorter of lease term or expected useful life
Tenant origination and absorption costs	Remaining term of related leases, including below-market renewal periods
Furniture, fixtures & equipment	3-12 years

Schedule of Earnings Per Share

The following table summarizes the computation of basic and diluted net loss per common share for the years ended December 31, 2024, 2023 and 2022 (in thousands, except per share data):

	Year Ended December 31,
	2024		2023		2022
Numerator:
Net loss	$	(104,872)	$	(146,477)	$	(41,670)
Net loss (income) attributable to noncontrolling interests	4,035		2,326		(530)
Net loss attributable to redeemable noncontrolling interest	—		—		81
Preferred stock dividends	—		—		(1,123)
Adjustment to redemptions value of noncontrolling cumulative convertible redeemable preferred stock	—		—		(1,800)
Net loss attributable to common stockholders (for net loss per common share, basic and diluted)	$	(100,837)	$	(144,151)	$	(45,042)
Denominator:
Weighted-average number of common shares outstanding, basic and diluted	103,083,547		103,642,866		103,522,696
Net loss per common share, basic and diluted	$	(0.98)	$	(1.39)	$	(0.44)