Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (25,750)	$ (51,456)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization, net	27,732	52,669
Gain on interest rate caps	(463)	(539)
Gain on sale of real estate	0	(1,104)
Loss on early extinguishment of debt	1,416	0
Amortization of deferred debt origination costs	2,134	2,286
Amortization of premiums and discounts on debt	24	(59)
Unrealized premium adjustment	1,019	1,215
Amortization of deferred costs and accretion of fees on loans receivable, net	(249)	(404)
Write-offs of uncollectible receivables	1,263	299
Write-offs of other deferred costs	491	0
Deferred income taxes	(36)	42
Stock-based compensation	220	183
Loss from unconsolidated entities	806	427
Return on investment from unconsolidated entities	0	1,328
Loans funded, held for sale to secondary market	(30,191)	(33,654)
Proceeds from sale of guaranteed loans	28,760	33,672
Principal collected on loans subject to secured borrowings	1,646	2,972
Commitment fees remitted and other operating activity	(806)	(742)
Changes in operating assets and liabilities:
Accounts receivable	91	(1,991)
Other assets	4,670	2,062
Accounts payable and accrued expenses	(2,023)	10,407
Deferred leasing costs	(1,840)	(1,049)
Other liabilities	(2,493)	(4,875)
Due to related parties	10,605	308
Net cash provided by operating activities	17,026	11,997
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(23,262)	(13,326)
Acquisition of real estate	0	(96,731)
Proceeds from sale of real estate, net	1,096	33,304
Investment in unconsolidated entity	(2,263)	(14,279)
Return of investment from unconsolidated entity	1,285	0
Loans funded	(10,064)	(11,534)
Principal collected on loans	10,838	13,871
Other investing activity	82	0
Net cash used in investing activities	(22,288)	(88,695)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of revolving credit facilities, mortgages payable, term notes and principal on SBA 7(a) loan-backed notes	(171,767)	(278,347)
Proceeds from revolving credit facilities, term notes and mortgages	209,746	334,882
Proceeds from SBA 7(a) loan-backed notes	0	54,141
Payment of principal on secured borrowings	(1,646)	(2,972)
Payment of deferred preferred stock offering costs	(1,586)	(859)
Payment of deferred costs	(4,489)	(3,211)
Payment of common dividends	(5,811)	(7,732)
Net proceeds from issuance of Preferred Stock	40,445	103,228
Payment of preferred stock dividends	(25,574)	(29,500)
Redemption of Preferred Stock	(25,373)	(106,146)
Noncontrolling interests’ distributions	(43)	(38)
Net cash provided by financing activities	13,902	63,446
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	8,640	(13,252)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	44,228	57,480
End of period	52,868	44,228
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	20,262	19,290
Restricted cash	32,606	24,938
Total cash and cash equivalents and restricted cash	52,868	44,228
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	34,874	31,079
Federal income taxes paid	845	1,560
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Accrued capital expenditures, tenant improvements and real estate developments	7,569	1,502
Proceeds from the sale of real estate committed but not yet received	0	1,096
Other amounts due from Unconsolidated Joint Venture partners included in other assets	396	1,445
Non-cash contributions to Unconsolidated Joint Venture	0	8,600
Accrued deferred debt origination costs	425	0
Accrued preferred stock offering costs	0	125
Accrual of dividends payable to preferred stockholders	5,976	2,508
Accrual of dividends payable to common stockholders	0	1,937
Preferred stock offering costs offset against redeemable preferred stock	1,420	1,655
Reclassification of Series A Preferred Stock from temporary equity to permanent equity	0	15,616
Mortgage notes assumed in connection with our acquisition of real estate	0	181,318
Write-off of preferred stock deferred offering costs	4,966	0
Redeemable preferred stock deemed dividends	755	0
Accrued Redeemable Preferred Stock fees	186	282
Acquisition of noncontrolling interests	$ 0	$ 5,002