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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investment in real estate    
Land $ 38,412 $ 65,009
Buildings and improvements 197,086 239,978
Accumulated depreciation (35,215) (39,940)
Real Estate Investment Property, at Cost, Total 200,283 265,047
Construction in progress 91,378 93,587
Net investment in real estate 291,661 358,634
Real estate held for sale 8,511 0
Investment in unconsolidated entities 165,937 189,699
Cash and cash equivalents 71,802 85,206
Restricted cash 8,328 12,503
Tenant and other receivables, net 7,199 7,894
Lease intangible assets, net 924 1,047
Prepaid expenses, deferred expenses and other assets, net 21,345 22,791
Total assets 575,707 677,774
Liabilities    
Term loan facility 200,000 240,000
Accounts payable, accrued expenses and other liabilities 22,970 31,971
Total liabilities 222,970 271,971
Commitments and Contingencies (Note 9)
Shareholders' Equity    
Additional paid-in capital 1,362,718 1,362,644
Accumulated deficit (1,011,936) (958,778)
Total shareholders' equity 351,372 404,456
Non-controlling interests 1,365 1,347
Total equity 352,737 405,803
Total liabilities and equity 575,707 677,774
Class A Common Shares [Member]    
Shareholders' Equity    
Common shares 562 562
Series A Preferred Shares [Member]    
Shareholders' Equity    
Preferred shares $ 28 $ 28