v3.25.2
Non-controlling Interests (Tables)
 6 Months Ended
Jun. 30, 2025
Noncontrolling Interest [Abstract]  
Schedule of Noncontrolling Interest on Balance Sheet
Non-controlling interests on the Company’s consolidated balance sheets is comprised of the following:
Balance as of
(In thousands)June 30, 2025December 31, 2024
Series A Preferred Units held by third parties$2,578 $2,578 
Common OP Units held by third parties2,065 2,212 
Total Non-controlling Interests in the OP
4,643 4,790 
Non-controlling Interests in property owning subsidiaries806 775 
Total Non-controlling interests$5,449 $5,565 
Net loss attributable to non-controlling interests in the Company’s consolidated statements of operations and comprehensive loss are comprised of the following:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Income attributable to Series A Preferred Units held by third parties$(46)$(46)$(92)$(92)
Loss attributable to Common OP Units held by third parties91 513 98 579 
Net loss attributable to non-controlling interests in the OP45 467 6 487 
Income attributable to non-controlling interests in property-owning subsidiaries(14)(15)(29)(35)
Net loss attributable to non-controlling interests$31 $452 $(23)$452 
Schedule Related to Investment Arrangements with Unaffiliated Third Party
The following table summarizes the activity related to investment arrangements with the unaffiliated third parties:
Distributions
Third Party Net Investment AmountNon-Controlling Ownership PercentageNet Real Estate Assets Subject to Investment ArrangementThree Months Ended June 30,
Property Name
(Dollar amounts in thousands)
Investment DateJune 30, 2025June 30, 2025June 30, 2025December 31, 202420252024
Plaza Del Rio Outpatient Medical Campus Portfolio (1)
May 2015
$806 6.6 %$13,177 $12,763 — — 
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(1)Of the six total properties in the Plaza Del Rio Outpatient Medical Campus Portfolio, three properties were encumbered under the Capital One OMF Loan and one property was encumbered under the Multi-Property CMBS Loan. See Note 4 — Mortgage Notes Payable, Net and Note 5 — Credit Facilities  for additional information.