Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations

The following table presents a reconciliation of net income (loss) used in the basic and diluted earnings per share (“EPS”) calculations ($ in thousands, except for per share data):

	For the Years Ended December 31,
	2024		2023		2022
Net income (loss)	$	(88,362)	$	(196,290)	$	(36,311)
Net (income) loss from operations attributable to noncontrolling interests		1,607		(66)		(37)
Net income (loss) allocable to common shareholders	$	(86,755)	$	(196,356)	$	(36,348)

Schedule of earnings per share allocable to common shares

	For the Years Ended December 31,
	2024		2023		2022
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net income (loss) allocable to common shareholders	$	(86,755)	$	(196,356)	$	(36,348)
Denominator for basic and diluted earnings per share:(1)
Weighted average common shares outstanding for basic and diluted earnings per common share		13,320		13,320		13,320
Basic and diluted earnings per common share:
Net income (loss) allocable to common shareholders	$	(6.51)	$	(14.74)	$	(2.73)

(1) For all periods presented prior to the Spin-Off, the weighted average shares outstanding for the EPS calculation assumes the pro rata distribution of 0.153 common shares of the Company’s common stock for each outstanding share of iStar Common Stock on the record date of the distribution were issued and outstanding.