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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Rental revenues (including $145 and $178 for the three months ended March 31, 2025 and 2024, respectively, from related parties) $ 11,427 $ 11,279
Other income 581 620
Total revenue 12,008 11,899
Expenses:    
Property operating expenses (including $86 and $80 for the three months ended March 31, 2025 and 2024, respectively, from related parties) 5,977 6,634
Depreciation and amortization 2,883 3,172
General and administrative (including $971 and $914 for the three months ended March 31, 2025 and 2024, respectively, from related parties) 1,352 1,261
Advisory fee to related party 2,431 2,165
Total operating expenses 12,643 13,232
Net operating loss (635) (1,333)
Interest income (including $2,517 and $2,692 for the three months ended March 31, 2025 and 2024, respectively, from related parties) 4,628 6,127
Interest expense (1,781) (1,869)
Equity in income from unconsolidated joint venture 0 435
Gain on sale or write-down of assets, net 3,891 0
Income tax provision (1,322) (603)
Net income 4,781 2,757
Net income attributable to noncontrolling interest (163) (208)
Net income attributable to the Company $ 4,618 $ 2,549
Earnings per share - basic and diluted    
Basic (in dollars per share) $ 0.53 $ 0.30
Diluted (in dollars per share) $ 0.53 $ 0.30
Weighted average common shares used in computing earnings per share - basic and diluted    
Basic (in shares) 8,639,316 8,639,316
Diluted (in shares) 8,639,316 8,639,316