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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES        
TOTAL REVENUES $ 35,128 $ 32,800 $ 103,338 $ 96,737
OPERATING EXPENSES        
Property operating expenses 7,930 7,267 22,811 21,734
Real estate taxes and insurance 7,374 8,252 24,610 24,069
General and administrative 3,340 3,209 10,029 9,348
Transaction pursuit costs 0 (10) 357 506
Depreciation and amortization 7,282 6,784 21,376 20,221
TOTAL OPERATING EXPENSES 25,926 25,502 79,183 75,878
INCOME FROM OPERATIONS 9,202 7,298 24,155 20,859
Interest expense, net (11,527) (10,086) (32,996) (30,076)
Loss on extinguishment of debt 0 0 (3,868) 0
Net loss (2,325) (2,788) (12,709) (9,217)
Net loss attributable to non-controlling interests 1,444 1,731 7,892 5,723
Net loss attributable to common stockholders $ (881) $ (1,057) $ (4,817) $ (3,494)
Basic and diluted net loss per share (in dollars per share) $ (0.07) $ (0.08) $ (0.36) $ (0.26)
Residential Rental [Member]        
REVENUES        
TOTAL REVENUES $ 25,501 $ 23,108 $ 74,481 $ 67,167
Commercial Real Estate [Member]        
REVENUES        
TOTAL REVENUES $ 9,627 $ 9,692 $ 28,857 $ 29,570