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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investment in real estate    
Land $ 55,081 $ 65,009
Buildings and improvements 219,224 239,978
Accumulated depreciation (35,599) (39,940)
Real Estate Investment Property, at Cost, Total 238,706 265,047
Construction in progress 91,245 93,587
Net investment in real estate 329,951 358,634
Real estate held for sale 8,406 0
Investment in unconsolidated entities 176,104 189,699
Cash and cash equivalents 94,268 85,206
Restricted cash 12,864 12,503
Tenant and other receivables, net 7,560 7,894
Lease intangible assets, net 985 1,047
Prepaid expenses, deferred expenses and other assets, net 19,562 22,791
Total assets 649,700 677,774
Liabilities    
Term loan facility 240,000 240,000
Accounts payable, accrued expenses and other liabilities 27,250 31,971
Total liabilities 267,250 271,971
Commitments and Contingencies (Note 9)
Shareholders' Equity    
Additional paid-in capital 1,362,718 1,362,644
Accumulated deficit (982,205) (958,778)
Total shareholders' equity 381,103 404,456
Non-controlling interests 1,347 1,347
Total equity 382,450 405,803
Total liabilities and equity 649,700 677,774
Class A Common Shares [Member]    
Shareholders' Equity    
Common shares 562 562
Series A Preferred Shares [Member]    
Shareholders' Equity    
Preferred shares $ 28 $ 28