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REAL ESTATE SALES (Tables)
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Revenue and Expenses / Assets and Liabilities of Real Estate for Non Sale Disposition
The following summary presents the major components of assets and liabilities related to real estate held for sale (in thousands):
March 31, 2026December 31, 2025
Assets related to real estate held for sale:
Total real estate, at cost$— $37,935 
Accumulated depreciation and amortization— (15,826)
Real estate held for sale, net— 22,109 
Other assets— 4,187 
Total assets related to real estate held for sale$— $26,296 
Liabilities related to real estate held for sale:
Notes payable, net$— $47,500 
Other liabilities— 317 
Total liabilities related to real estate held for sale$— $47,817 
The following table summarizes certain revenues and expenses related to the Company’s real estate properties that were sold during the year ended December 31, 2025 and the three months ended March 31, 2026, which were included in continuing operations (in thousands):
 For the Three Months Ended
March 31,
20262025
Revenues
Rental income$1,446 $8,783 
Other operating income31 484 
Total revenues$1,477 $9,267 
Expenses
Operating, maintenance, and management$279 $2,138 
Real estate taxes and insurance127 1,675 
Asset management fees to affiliate83 538 
General and administrative expenses— 25 
Depreciation and amortization453 3,053 
Interest expense (1)
— 1,102 
Total expenses$942 $8,531 
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(1) Interest expense includes interest expense incurred related to the Park Place Village Mortgage Loan. Upon the sale of Park Place Village in September 2025, the borrower under the Park Place Village Mortgage Loan paid off the outstanding principal and accrued interest due under the Park Place Village Mortgage Loan. Interest expense incurred on portfolio loans is not allocated to the individual properties that serve as collateral for these portfolio loans and therefore, interest expense incurred for the properties sold in July 2025 and March 2026 is not shown in this table. The office property sold in July 2025 had served as collateral for the Amended and Restated Portfolio Loan Facility. The office property sold in March 2026 had served as collateral for the Modified Portfolio Revolving Loan Facility. Upon the sale of the office property in July 2025, $87.7 million of the net sale proceeds from the sale of the property was applied to reduce the outstanding principal of the Amended and Restated Portfolio Loan Facility. Upon the sale of the office property in March 2026, $47.5 million of the net sale proceeds from the sale of the property was applied to reduce the outstanding principal of the Modified Portfolio Revolving Loan Facility. See Note 8, “Notes Payable – Recent Financing Transactions – Modified Portfolio Revolving Loan Facility” and Note 14, “Subsequent Events – Fifth Modification of the Modified Portfolio Revolving Loan Facility.”