SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONFor the year ended December 31, 2022, the Company had three segments with reportable information: Real Estate Properties, Real Estate Equity Securities and Real Estate Loans. For the years ended December 31, 2021 and 2020, the Company had two segments with reportable information: Real Estate Properties and Real Estate Equity Securities. The Company organizes and analyzes the operations and results of each of these segments independently, due to inherently different considerations for each segment. Such considerations include, but are not limited to, the nature and characteristics of the investment, and investment strategies and objectives. The following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2022 and 2021, and net income (loss) for the years ended December 31, 2022, 2021 and 2020.

		Real Estate Properties		Real Estate Equity Securities		Real Estate Loans		Total
Carrying value as of December 31, 2022		$	420,552	$	26,987	$	1,156,263	$	1,603,802
	Receivables	6,185		211		4,239		10,635
	Deferred leasing costs	3,325		—		—		3,325
	Prepaid and other assets	920		—		—		920
	Subtotal	$	430,982	$	27,198	$	1,160,502	$	1,618,682
Reconciliation to total assets of December 31, 2022
	Carrying value per reportable segments							$	1,618,682
	Other assets							6,807
	Total assets							$	1,625,489
Carrying value as of December 31, 2021		$	437,232	$	36,825	$	—	$	474,057
	Receivables	5,830		112		—		5,942
	Deferred leasing cost	2,673		—		—		2,673
	Prepaid and other assets	534		—		—		534
	Subtotal	$	446,269	$	36,937	$	—	$	483,206
Reconciliation to total assets of December 31, 2021
	Carrying value per reportable segments							$	483,206
	Other assets							8,409
	Total assets							$	491,615

		Real Estate Properties		Real Estate Equity Securities		Real Estate Loans		Total
Year Ended December 31, 2022
	Property related income	$	41,374	$	—	$	—	$	41,374
	Investment income on marketable securities	—		1,112		—		1,112
	Total revenues	41,374		1,112		—		42,486
	Segment operating expenses	12,231		33		285		12,549
	Net realized loss upon sale of marketable securities	—		(794)		—		(794)
	Net unrealized change in fair value of investment in marketable securities	—		(9,953)		—		(9,953)
	Change in net assets of consolidated CMBS trust	—		—		529		529
Operating income (loss) - segments		$	29,143	$	(9,668)	$	244	$	19,719
Year Ended December 31, 2021
	Property related income	$	33,569	$	—	$	—	$	33,569
	Investment income on marketable securities	—		693		—		693
	Total revenues	33,569		693		—		34,262
	Segment operating expenses	9,552		33		—		9,585
	Net realized gain upon sale of marketable securities	—		3,179		—		3,179
	Net unrealized change in fair value of investment in marketable securities	—		7,094		—		7,094
Operating income - segments		$	24,017	$	10,933	$	—	$	34,950
Year Ended December 31, 2020
	Property related income	$	31,730	$	—	$	—	$	31,730
	Investment income on marketable securities	—		646		—		646
	Total revenues	31,730		646		—		32,376
	Segment operating expenses	8,580		38		—		8,618
	Net realized loss upon sale of marketable securities	—		(2,363)		—		(2,363)
	Net unrealized change in fair value of investment in marketable securities	—		788		—		788
Operating income (loss) - segments		$	23,150	$	(967)	$	—	$	22,183

		Year Ended December 31,
Reconciliation to net (loss) income		2022		2021		2020
Operating income - segments		$	19,719	$	34,950	$	22,183
	General and administrative expenses	(2,134)		(1,943)		(1,849)
	Advisory expenses	(3,746)		(8,672)		(2,163)
	Depreciation	(11,516)		(7,052)		(7,059)
	Amortization	(7,830)		(6,174)		(5,774)
Operating income		(5,507)		11,109		5,338
	Interest expense	(9,416)		(6,654)		(7,164)
Net (loss) income		$	(14,923)	$	4,455	$	(1,826)