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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenues    
Rental income $ 38,810 $ 38,990
Total revenues 41,345 42,169
Operating Expenses    
Cost of services 2,103 2,493
Property operating 11,663 11,653
Depreciation and amortization 14,930 18,778
Impairment of real estate assets 560 973
Impairment of real estate assets held for sale 0 2,353
Bad debt expense 268 134
General and administrative 12,113 11,891
Total operating expenses 41,637 48,275
Gain on disposal of properties 0 11,486
Operating (loss) gain (292) 5,380
Other income (expense)    
Net interest and other income 1,084 938
Derivative fair value adjustment 589 (692)
Net gain on fair value change on debt held under the fair value option 2,318 2,344
Interest expense (18,381) (18,504)
Loss on extinguishment of debt (7) (43)
Other expense (31) (68)
Total other expense (14,428) (16,025)
Net loss before income taxes (14,720) (10,645)
Income tax (expense) benefit, net (78) 3,628
Net loss (14,798) (7,017)
Less: Preferred equity return on Fortess preferred equity (12,643) (14,641)
Less: Preferred equity accretion to redemption value (5,061) (3,247)
Less: Preferred OP units return (595) (483)
Plus: Net loss attributable to noncontrolling interest 4,246 3,924
Net loss attributable to common stockholders $ (28,851) $ (21,464)
Net loss attributable to common stockholders per share    
Net loss attributable to common stockholders per share, Basic $ (0.8) $ (0.6)
Net loss attributable to common stockholders per share, Diluted $ (0.8) $ (0.6)
Weighted average shares outstanding    
Weighted average shares outstanding, Basic 35,997,396 35,608,163
Weighted average shares outstanding, Diluted 35,997,396 35,608,163
Commissions [Member]    
Revenues    
Revenues $ 2,329 $ 2,897
Management and other income [Member]    
Revenues    
Revenues $ 206 $ 282