v3.25.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental revenue $ 21,876,000 $ 20,063,000 $ 43,844,000 $ 40,532,000
Interest income on notes receivable from affiliates 1,239,000 1,093,000 2,605,000 2,016,000
Other 35,000 23,000 56,000 51,000
Total revenues 23,150,000 21,179,000 46,505,000 42,599,000
Operating Expenses        
Property operating expenses 2,766,000 2,636,000 5,810,000 5,541,000
Management fees to affiliates 91,000 45,000 520,000 369,000
General and administrative expenses 399,000 349,000 738,000 686,000
Depreciation and amortization 11,072,000 10,287,000 22,044,000 20,655,000
Provision for impairment       250,000
Total operating expenses 14,328,000 13,317,000 29,112,000 27,501,000
Gain on sales, net 5,184,000 69,000 5,184,000 69,000
Income from Operations 14,006,000 7,931,000 22,577,000 15,167,000
Other Income (Expense)        
Interest expense (9,348,000) (7,967,000) (18,540,000) (15,805,000)
Interest income 6,000 11,000 10,000 24,000
Total other income (expense) (9,342,000) (7,956,000) (18,530,000) (15,781,000)
Net income (loss) 4,664,000 (25,000) 4,047,000 (614,000)
Net (income) loss attributable to noncontrolling interests (1,652,000) 6,000 (1,435,000) 205,000
Net income (loss) attributable to common shareholders $ 3,012,000 $ (19,000) $ 2,612,000 $ (409,000)
Net income (loss) per common share attributable to common shareholders, basic $ 0.18 $ (0) $ 0.16 $ (0.03)
Net income (loss) per common share attributable to common shareholders, diluted $ 0.18 $ (0) $ 0.16 $ (0.03)
Weighted average number of common shares outstanding, basic 16,615,390 16,112,050 16,568,790 15,908,667
Weighted average number of common shares outstanding, diluted 16,615,390 16,112,050 16,568,790 15,908,667
Other comprehensive income (loss):        
Net income (loss) $ 4,664,000 $ (25,000) $ 4,047,000 $ (614,000)
Other comprehensive (loss) income - unrealized gain (loss) on change in fair value of cash flow hedges (126,000) 94,000 (393,000) 591,000
Comprehensive income(loss) 4,538,000 69,000 3,654,000 (23,000)
Comprehensive income (loss) attributable to noncontrolling interests (1,606,000) (25,000) (1,296,000) 6,000
Comprehensive income (loss) attributable to common shareholders $ 2,932,000 $ 44,000 $ 2,358,000 $ (17,000)