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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net (loss) $ (291) $ 1,445
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Gain on sales 0 (2,422)
Straight-line rents (41) (283)
Credit adjustments on operating lease receivables 4 189
Depreciation and amortization 1,787 1,976
Above (below) market lease amortization, net (45) (45)
Amortization of deferred financing costs 192 108
Loss on loan prepayment 0 718
Changes in operating assets and liabilities:    
Receivables, net (44) 24
Deferred costs and other assets, net 543 257
Accounts payable, accrued expenses, and other liabilities 224 291
Net cash provided by operating activities 2,329 2,258
INVESTING ACTIVITIES    
Expenditures for real estate improvements (629) (467)
Net proceeds from sales of real estate 0 16,672
Net cash (used in) provided by investing activities (629) 16,205
FINANCING ACTIVITIES    
Fixed-rate term loan principal payments (32) (9,160)
Loan prepayment premium 0 (521)
Preferred stock dividends (1,280) (2,104)
Preferred stock repurchases 0 (21,196)
Net cash used in financing activities (1,312) (32,981)
Net increase (decrease) in cash, cash equivalents and restricted cash 388 (14,518)
Cash, cash equivalents and restricted cash at beginning of period 15,871 30,624
Cash, cash equivalents and restricted cash at end of period 16,259 16,106
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 5,599 7,355
Restricted cash 10,660 8,751
Cash, cash equivalents and restricted cash $ 16,259 $ 16,106