v3.25.2
SEGMENTS - Schedule of Revenues and Net Operating Income for Reportable Segments (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment revenues and net operating income [Abstract]        
Revenue $ 68,549,000 $ 65,043,000 $ 135,642,000 $ 129,549,000
Property operating expenses        
On-site compensation 7,090,000 6,646,000 13,960,000 13,443,000
Repairs and maintenance 3,915,000 3,715,000 7,104,000 7,094,000
Utilities 3,764,000 3,491,000 8,621,000 7,750,000
Administrative and marketing 1,796,000 1,657,000 3,356,000 3,288,000
Insurance 2,288,000 2,599,000 4,880,000 5,297,000
Real estate taxes 7,678,000 7,081,000 15,341,000 13,386,000
Net operating income 42,018,000 39,854,000 82,380,000 79,291,000
Property management expense (2,393,000) (2,222,000) (4,826,000) (4,552,000)
Casualty loss (399,000) (510,000) (931,000) (1,330,000)
Depreciation and amortization (27,097,000) (25,714,000) (54,751,000) (52,726,000)
Impairment of real estate investments (14,543,000) 0 (14,543,000) 0
General and administrative expenses (4,382,000) (4,216,000) (9,379,000) (8,839,000)
Loss on sale of real estate and other investments 0 0 0 (577,000)
Interest expense (10,724,000) (9,332,000) (20,359,000) (18,539,000)
Interest and other income 735,000 477,000 1,443,000 817,000
NET LOSS (16,785,000) (1,663,000) (20,966,000) (6,455,000)
Operating Segments | Multifamily        
Segment revenues and net operating income [Abstract]        
Revenue 60,774,000 57,796,000 120,177,000 114,541,000
Property operating expenses        
On-site compensation 6,208,000 5,820,000 12,220,000 11,665,000
Repairs and maintenance 3,347,000 3,200,000 6,078,000 6,021,000
Utilities 3,197,000 2,997,000 7,326,000 6,580,000
Administrative and marketing 1,556,000 1,380,000 2,907,000 2,753,000
Insurance 1,995,000 2,236,000 4,210,000 4,548,000
Real estate taxes 6,804,000 6,281,000 13,534,000 11,735,000
Net operating income 37,667,000 35,882,000 73,902,000 71,239,000
All Other        
Segment revenues and net operating income [Abstract]        
Revenue 7,775,000 7,247,000 15,465,000 15,008,000
Property operating expenses        
On-site compensation 882,000 826,000 1,740,000 1,778,000
Repairs and maintenance 568,000 515,000 1,026,000 1,073,000
Utilities 567,000 494,000 1,295,000 1,170,000
Administrative and marketing 240,000 277,000 449,000 535,000
Insurance 293,000 363,000 670,000 749,000
Real estate taxes 874,000 800,000 1,807,000 1,651,000
Net operating income $ 4,351,000 $ 3,972,000 $ 8,478,000 $ 8,052,000