Investments in and Advances to Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Equity Method Investments [Line Items]

Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments

Condensed combined financial information of the Company’s unconsolidated joint ventures is as follows (in thousands):

	June 30, 2025			December 31, 2024
Condensed Combined Balance Sheets
Land	$	159,567		$	159,567
Buildings		496,012			494,062
Fixtures and tenant improvements		58,248			55,526
		713,827			709,155
Less: Accumulated depreciation		(176,534	)		(166,534	)
		537,293			542,621
Construction in progress and land		13			352
Real estate, net		537,306			542,973
Cash and restricted cash		32,654			25,750
Receivables, net		8,320			9,660
Other assets, net		16,786			17,823
	$	595,066		$	596,206
Mortgage debt	$	427,920		$	426,462
Notes and accrued interest payable to the Company		1,977			1,894
Other liabilities		32,090			32,533
		461,987			460,889
Accumulated equity		133,079			135,317
	$	595,066		$	596,206
Company's share of accumulated equity	$	25,527		$	26,016
Basis differentials		2,391			2,521
Amounts payable to the Company		1,977			1,894
Investments in and advances to joint ventures, net	$	29,895		$	30,431

Unconsolidated Joint Ventures [Member]

Schedule of Equity Method Investments [Line Items]

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2025			2024			2025			2024
Condensed Combined Statements of Operations
Revenues from operations	$	20,629		$	21,249		$	41,554		$	43,303
Expenses from operations:
Operating expenses		4,904			5,606			10,086			11,474
Depreciation and amortization		6,340			6,785			12,384			13,930
Interest expense		8,080			7,902			16,088			16,173
Other expense, net		1,394			2,048			2,782			3,944
		20,718			22,341			41,340			45,521
Income (loss) before loss on disposition of real estate		(89	)		(1,092	)		214			(2,218	)
Gain on disposition of real estate, net		5			8,426			1			8,397
Net income (loss) attributable to unconsolidated joint ventures	$	(84	)	$	7,334		$	215		$	6,179
Company's share of equity in net income (loss) of joint ventures	$	(52	)	$	(1,070	)	$	2		$	(1,223	)
Basis differential adjustments(A)		(16	)		1,131			(31	)		1,301
Equity in net income (loss) of joint ventures	$	(68	)	$	61		$	(29	)	$	78

(A) The difference between the Company’s share of net income, as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials.