Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues
Rental revenues	$ 129,834	$ 129,421	$ 126,528
Other revenues	13,474	14,567	12,119
Total revenues	143,308	143,988	138,647
Expenses
Rental property operating	55,717	52,886	52,661
General and administrative	6,392	8,113	8,389
Management fee	12,726	11,183	13,895
Impairment of investments in real estate	0	33,922	19,331
Depreciation and amortization	52,550	55,259	51,691
Total expenses	127,385	161,363	145,967
Other (expense) income
Income from real estate-related loans and securities	17,497	12,055	17,609
Interest expense	(59,032)	(68,446)	(58,577)
Gain on extinguishment of debt	0	32,251	0
Gain (loss) from unconsolidated entities	20,998	6,413	(2,083)
Other income, net	1,407	2,921	331
Total other expense	(19,130)	(14,806)	(42,720)
Net loss	(3,207)	(32,181)	(50,040)
Net loss attributable to non-controlling interests in consolidated joint ventures	(1,845)	800	1,179
Net income attributable to non-controlling interests - preferred stockholders	(77)	(69)	(45)
Net loss attributable to redeemable non-controlling interests	916	3,680	42
Net loss attributable to non-controlling interest in Operating Partnership unitholders	45	0	0
Net loss attributable to stockholders	$ (4,168)	$ (27,770)	$ (48,864)
Basic (in dollars per share)	$ (0.06)	$ (0.34)	$ (0.53)
Diluted (in dollars per share)	$ (0.06)	$ (0.34)	$ (0.53)
Weighted average number of shares outstanding, basic (in shares)	70,182	82,198	92,740
Weighted average number of shares outstanding, diluted (in shares)	70,182	82,198	92,740