XML 54 R41.htm IDEA: XBRL DOCUMENT v3.25.3
Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($)
$ in Thousands
12 Months Ended
Oct. 30, 2025
May 15, 2023
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Property management fees revenue     $ 69,875 $ 76,444 $ 63,153  
Total revenues     $ 182,703 193,920 236,164  
Percent of construction supervision     5.00%      
Property management fee     $ 9,314 15,641 18,443  
Acquisition fee revenue     664      
Net investment income     2,447 1,313 0  
Rental property revenues     $ 8,273 1,604 0  
Tremont Advisors            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Incentive fee percentage condition 1     20.00%      
Incentive fee percentage condition 2     7.00%      
Minimum            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Percent of gross collected rents     2.50%      
Maximum            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Percent of gross collected rents     3.50%      
Termination and incentive business management fees            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Total revenues   $ 45,282     45,282  
Advisory services            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Total revenues     $ 4,475 4,506 4,520  
Advisory services | Tremont Advisors            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Management fee percentage pursuant to agreement     1.50%      
Total revenues     $ 4,475 4,506 4,520  
Termination and incentive fees            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Total revenues     653 1,213 45,942  
Termination and incentive fees | Tremont Advisors            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Total revenues     $ 653 1,213 660  
Total Managed Equity REITs            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Percentage of historical cost of transferred real estate assets     0.50%      
Percentage of average invested capital below threshold limit     0.70%      
Threshold amount, maximum     $ 250,000      
Percentage of average invested capital above threshold limit     0.50%      
Threshold limit, minimum     $ 250,000      
Percentage of average market capitalization below threshold limit     0.70%      
Percentage of average market capitalization above threshold limit     0.50%      
Aggregate annual base business management fees     $ 80,030 84,182 85,603  
Incentive management fee percentage     12.00%      
Aggregate incentive business management fees       0 0 $ 0
Total revenues     $ 123,769 134,882 139,215  
Managed Operating Companies            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Management fee percentage pursuant to agreement     0.60%      
Managed Public Real Estate Capital            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Aggregate annual business management fees     $ 27,670 27,575 36,815  
Total revenues     $ 128,975 $ 140,648 $ 199,617  
OPI Management | Subsequent Event            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Agreement term 5 years          
Termination term 2 years          
Property management fees revenue $ 14          
Percentage of property management fee 3.00%          
Percentage of construction supervision fee 0.05