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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Rental income $ 10,257 $ 6,938 $ 20,465 $ 13,665
Total revenues 10,973 8,393 22,105 15,695
Operating Expenses        
Cost of services 394 900 809 1,273
Depreciation and amortization 5,290 4,094 10,858 8,211
Property operating 3,145 1,913 6,206 3,998
Impairment of real estate assets 167 0 167 0
Impairment of real estate assets held for sale 1,957 0 1,957 0
Real estate related acquisition costs 0 529 0 529
Bad debt expense 24 6 66 35
General and administrative 2,955 2,870 6,626 6,568
Total operating expenses 13,932 10,312 26,689 20,614
Gain on disposal of property 11,619 0 11,619 0
Operating income (loss) 8,660 (1,919) 7,035 (4,919)
Other income (expense)        
Interest and other income 17 15 30 26
Derivative fair value adjustment 194 805 15 2,570
Net (loss) gain on fair value change of debt held under the fair value option (1,131) 0 2,104 0
Interest expense (4,735) (2,685) (9,516) (5,273)
Loss on extinguishment of debt (15) 0 (15) 0
Other expense (13) (1) (19) (6)
Total other expense (5,683) (1,866) (7,401) (2,683)
Net income (loss) before income taxes 2,977 (3,785) (366) (7,602)
Income tax benefit 9 887 1,692 1,514
Net income (loss) 2,986 (2,898) 1,326 (6,088)
Less: Preferred equity return on Fortress preferred equity (3,569) 0 (6,996) 0
Less: Preferred equity accretion to redemption value (756) 0 (1,171) 0
Less: Preferred OP units return (118) 0 (230) 0
Plus: Net loss attributable to noncontrolling interest 132 270 1,146 517
Net loss attributable to common stockholders $ (1,325) $ (2,628) $ (5,925) $ (5,571)
Net loss attributable to common stockholders per share        
Net loss attributable to common stockholders per share, Basic $ (0.04) $ (0.08) $ (0.17) $ (0.17)
Net loss attributable to common stockholders per share, Diluted $ (0.04) $ (0.08) $ (0.17) $ (0.17)
Weighted average shares outstanding        
Weighted average shares outstanding, Basic 35,660,560 32,043,824 35,518,179 32,005,410
Weighted average shares outstanding, Diluted 35,660,560 32,043,824 35,518,179 32,005,410
Commissions [Member]        
Revenues        
Revenues $ 663 $ 1,281 $ 1,519 $ 1,729
Management Fees And Other Income [Member]        
Revenues        
Revenues $ 53 $ 174 $ 121 $ 301