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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Rental and other revenue from real estate properties $ 23,729 $ 23,778 $ 47,348 $ 47,076
Loan interest and other income 468 84 955 189
Total revenues 24,197 23,862 48,303 47,265
Expenses:        
Real estate operating expenses 11,117 10,846 21,667 21,425
Interest expense 5,707 5,500 11,383 11,023
General and administrative - including $163 and $141 to related parties for the three months ended and $341 and $361 for the six months ended 3,744 3,813 7,814 7,965
Depreciation and amortization 6,580 6,466 13,121 12,901
Total expenses 27,148 26,625 53,985 53,314
Total revenues less total expenses (2,951) (2,763) (5,682) (6,049)
Equity in earnings of unconsolidated joint ventures 299 389 712 617
Insurance recovery of casualty loss 189 0 257 0
Loss from continuing operations (2,463) (2,374) (4,713) (5,432)
Income tax provision (benefit) 60 (65) 118 13
Loss from continuing operations, net of taxes (2,523) (2,309) (4,831) (5,445)
Net income attributable to non-controlling interest (43) (36) (87) (71)
Net loss attributable to common stockholders $ (2,566) $ (2,345) $ (4,918) $ (5,516)
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 17,985,801 17,737,452 17,986,443 17,681,514
Diluted (in shares) 17,985,801 17,737,452 17,986,443 17,681,514
Net loss per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ (0.14) $ (0.13) $ (0.26) $ (0.30)
Diluted (in dollars per share) $ (0.14) $ (0.13) $ (0.26) $ (0.30)