Real Estate (Tables)

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Schedule of Real Estate Held for Sale

Real estate held for sale consists of the following:

	June 30,		December 31,
	2023		2022
Real estate held for sale	$	113,000	$	—
Receivables, net		—		—
Deferred costs and other assets, net		—		—
Total real estate held for sale	$	113,000	$	—

Summary of Loss from Discontinued Operations

The following is a summary of loss from discontinued operations:

	Three months ended June 30,					Six months ended June 30,
	2023		2022			2023		2022
REVENUES
Rental revenues	$	—	$	20,824,000		$	—	$	42,472,000
Other revenues		—		102,000			—		157,000
Total revenues		—		20,926,000			—		42,629,000
EXPENSES
Operating, maintenance and management		—		4,386,000			—		9,236,000
Real estate and other property-related taxes		—		3,278,000			—		6,534,000
Corporate general and administrative		—		91,000			—		151,000
Depreciation and amortization		—		3,964,000			—		9,726,000
Total expenses		—		11,719,000			—		25,647,000
OPERATING INCOME		—		9,207,000			—		16,982,000
NON-OPERATING INCOME AND EXPENSES
Interest expense, net		—		(1,509,000	)		—		(3,036,000	)
Total non-operating income and expenses		—		(1,509,000	)		—		(3,036,000	)
INCOME FROM DISCONTINUED OPERATIONS		—		7,698,000			—		13,946,000
Impairment charges		—		(16,119,000	)		—		(16,630,000	)
TOTAL LOSS FROM DISCONTINUED OPERATIONS	$	—	$	(8,421,000	)	$	—	$	(2,684,000	)