XML 9 R2.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investment in real estate    
Land $ 20,808 $ 25,406
Buildings and improvements 124,538 134,946
Accumulated depreciation (15,278) (14,908)
Real Estate Investment Property, at Cost, Total 130,068 145,444
Construction in progress 629 629
Net investment in real estate 130,697 146,073
Real estate held for sale 8,953 8,692
Investment in unconsolidated entities 144,102 156,242
Cash and cash equivalents 44,499 48,088
Restricted cash 14,315 14,197
Tenant and other receivables, net 3,750 3,665
Lease intangible assets, net 168 171
Prepaid expenses, deferred expenses and other assets, net 14,682 16,651
Total assets 361,166 393,779
Liabilities    
Term loan facility, net 48,663 47,677
Accounts payable, accrued expenses and other liabilities 11,192 13,302
Total liabilities 59,855 60,979
Commitments and Contingencies (Note 9)
Shareholders' Equity    
Additional paid-in capital 1,362,719 1,362,719
Accumulated deficit (1,063,436) (1,031,893)
Total shareholders' equity 299,873 331,416
Non-controlling interests 1,438 1,384
Total equity 301,311 332,800
Total liabilities and equity 361,166 393,779
Class A Common Shares [Member]    
Shareholders' Equity    
Common shares 562 562
Series A Preferred Shares [Member]    
Shareholders' Equity    
Preferred shares $ 28 $ 28