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Consolidated Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenues:    
Rental income $ 73,143 $ 60,970
Fee and other 3,229 2,742
Total revenues 76,372 63,712
Operating expenses:    
Real estate taxes 9,850 8,549
Property operating expenses 9,124 6,825
General and administrative 16,008 14,654
Casualty and impairment losses, net 404 0
Depreciation and amortization 22,202 19,688
Total operating expenses 57,588 49,716
Gain on sale of real estate assets 2,393 0
Income from operations 21,177 13,996
Other income 21 679
Interest expense, net:    
Contractual interest expense (12,041) (9,339)
Write-off and amortization of deferred financing fees (746) (686)
Interest income 26 5
Total interest expense, net (12,761) (10,020)
Income before income tax expense 8,437 4,655
Income tax expense (116) (72)
Net income 8,321 4,583
Net income attributable to operating partnership unitholders’ non-controlling interests (1,725) (874)
Net income attributable to common stockholders $ 6,596 $ 3,709
Net income per share:    
Basic (in dollars per share) $ 0.21 $ 0.12
Diluted (in dollars per share) $ 0.21 $ 0.12
Weighted average common shares outstanding:    
Basic (in shares) 22,565,155 20,145,151
Diluted (in shares) 22,565,155 20,145,151
Comprehensive income:    
Net income $ 8,321 $ 4,583
Unrealized gain (loss) on derivative instruments 735 (3,500)
Comprehensive income 9,056 1,083
Comprehensive income attributable to operating partnership unitholders’ non-controlling interests (1,851) (239)
Comprehensive income attributable to common stockholders $ 7,205 $ 844