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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Property related income $ 7,977 $ 5,561 $ 15,990 $ 11,326
Investment income on marketable securities 131 150 293 301
Total revenues 8,108 5,711 16,283 11,627
Expenses        
General and administrative expenses 487 468 1,027 1,040
Property operating expenses 2,148 1,723 4,386 3,605
Advisory fees 532 561 1,071 932
Depreciation 1,764 1,336 3,543 2,646
Amortization 1,449 1,131 2,930 2,300
Total operating expenses 6,380 5,219 12,957 10,523
Net realized (loss) gain upon sale of marketable securities (1,707) 146 (2,150) 265
Net unrealized change in fair value of investment in marketable securities 3,005 189 (1,358) 2,355
Operating income (loss) 3,026 827 (182) 3,724
Interest expense (1,761) (1,196) (3,713) (2,489)
Net income (loss) 1,265 (369) (3,895) 1,235
Class A Common Stock        
Expenses        
Net income (loss) $ 309 $ (116) $ (973) $ 410
Net loss per common share:        
Basic and diluted net income (loss) per share (in usd per share) $ 0.08 $ (0.03) $ (0.26) $ 0.11
Class D Common Stock        
Expenses        
Net income (loss) $ 15 $ 0 $ (45) $ 1
Net loss per common share:        
Basic and diluted net income (loss) per share (in usd per share) $ 0.08 $ (0.02) $ (0.26) $ 0.13
Class I Common Stock        
Expenses        
Net income (loss) $ 858 $ (231) $ (2,624) $ 745
Net loss per common share:        
Basic and diluted net income (loss) per share (in usd per share) $ 0.08 $ (0.03) $ (0.26) $ 0.11
Class T Common Stock        
Expenses        
Net income (loss) $ 83 $ (22) $ (253) $ 79
Net loss per common share:        
Basic and diluted net income (loss) per share (in usd per share) $ 0.08 $ (0.03) $ (0.26) $ 0.11