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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Office revenues $ 28,830,000 $ 29,941,000 $ 15,607,000
Dividend income from real estate equity securities 418,000 196,000 0
Interest income from real estate loan receivable 0 10,000 387,000
Total revenues 68,741,000 70,282,000 51,968,000
Expenses:      
Office expenses 13,705,000 12,322,000 5,372,000
Asset management fees to affiliate 4,093,000 3,985,000 2,775,000
General and administrative expenses 3,475,000 2,866,000 3,199,000
Depreciation and amortization 20,236,000 20,405,000 14,429,000
Interest expense 19,876,000 14,663,000 8,814,000
Impairment charges on real estate 0 14,745,000 0
Total expenses 87,709,000 95,672,000 57,400,000
Other (loss) income:      
Other interest income 305,000 367,000 514,000
Equity in income of unconsolidated entity 2,800,000 339,000 54,000
Gain (loss) on real estate equity securities 2,704,000 (1,924,000) 0
Casualty-related income, net 0 0 1,614,000
Gain on sale of real estate 4,178,000 0 0
Loss on extinguishment of debt (105,000) 0 0
Total other income (loss) 9,882,000 (1,218,000) 2,182,000
Net loss before income taxes (9,086,000) (26,608,000) (3,250,000)
Income tax benefit (expense) 0 9,000 (48,000)
Net loss (9,086,000) (26,599,000) (3,298,000)
Net loss attributable to noncontrolling interests 1,587,000 3,091,000 26,000
Net loss attributable to common stockholders (7,499,000) (23,508,000) (3,272,000)
Hotel      
Revenues:      
Revenue from contract with customer 31,381,000 32,666,000 28,994,000
Expenses:      
Expenses 22,770,000 22,907,000 19,187,000
Apartment      
Revenues:      
Revenue from contract with customer 8,112,000 7,469,000 6,980,000
Expenses:      
Expenses 3,554,000 3,779,000 3,624,000
Common Class A      
Other (loss) income:      
Net loss attributable to common stockholders $ (4,458,000) $ (13,729,000) $ (1,480,000)
Net loss per common share, basic and diluted (in dollars per share) $ (0.25) $ (0.77) $ (0.09)
Weighted-average number of common shares outstanding, basic and diluted (in shares) 17,949,301 17,775,503 16,096,216
Common Class T      
Other (loss) income:      
Net loss attributable to common stockholders $ (3,041,000) $ (9,779,000) $ (1,792,000)
Net loss per common share, basic and diluted (in dollars per share) $ (0.25) $ (0.82) $ (0.18)
Weighted-average number of common shares outstanding, basic and diluted (in shares) 12,241,271 11,864,178 9,797,325