SEGMENT REPORTING - Summary of Segment Revenues and Net Operating Income (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| SEGMENT REPORTING | ||||||
| Income from rental operations | $ 43,000 | $ 39,297 | $ 85,180 | $ 76,558 | ||
| Real Estate Expenses | ||||||
| Real Estate Taxes | 4,222 | 4,769 | 8,082 | 8,928 | ||
| Property Management | 5,027 | 4,706 | 10,177 | 9,332 | ||
| Utilities | 3,192 | 2,706 | 7,196 | 6,183 | ||
| Repairs and Maintenance | 6,949 | 6,966 | 14,070 | 13,587 | ||
| Insurance | 1,463 | 1,591 | 3,023 | 3,190 | ||
| Expenses from rental operations | 20,853 | 20,738 | 42,548 | 41,220 | ||
| Net operating income | 22,147 | 18,559 | 42,632 | 35,338 | ||
| Depreciation and amortization | 6,696 | 7,015 | 13,721 | 12,924 | ||
| Interest | 6,371 | 5,585 | 12,641 | 10,941 | ||
| Administration of REIT | 1,443 | 1,539 | 2,944 | 2,885 | ||
| Loss on impairment of property | 0 | 0 | 0 | 0 | ||
| Other income (expense) | 722 | (1,723) | 1,504 | (2,195) | ||
| Net income | 6,915 | $ 4,907 | 6,143 | $ 4,640 | 11,822 | 10,783 |
| Residential | ||||||
| SEGMENT REPORTING | ||||||
| Income from rental operations | 38,147 | 34,248 | 75,338 | 66,403 | ||
| Real Estate Expenses | ||||||
| Real Estate Taxes | 3,748 | 4,307 | 7,142 | 7,945 | ||
| Property Management | 4,812 | 4,459 | 9,727 | 8,893 | ||
| Utilities | 2,975 | 2,467 | 6,696 | 5,707 | ||
| Repairs and Maintenance | 6,515 | 6,571 | 13,112 | 12,814 | ||
| Insurance | 1,423 | 1,551 | 2,950 | 3,112 | ||
| Expenses from rental operations | 19,473 | 19,355 | 39,627 | 38,471 | ||
| Net operating income | 18,674 | 14,893 | 35,711 | 27,932 | ||
| Commercial | ||||||
| SEGMENT REPORTING | ||||||
| Income from rental operations | 4,853 | 5,049 | 9,842 | 10,155 | ||
| Real Estate Expenses | ||||||
| Real Estate Taxes | 474 | 462 | 940 | 983 | ||
| Property Management | 215 | 247 | 450 | 439 | ||
| Utilities | 217 | 239 | 500 | 476 | ||
| Repairs and Maintenance | 434 | 395 | 958 | 773 | ||
| Insurance | 40 | 40 | 73 | 78 | ||
| Expenses from rental operations | 1,380 | 1,383 | 2,921 | 2,749 | ||
| Net operating income | $ 3,473 | $ 3,666 | $ 6,921 | $ 7,406 | ||
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- Definition Expenses From Rental Operations [Abstract] No definition available.
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Also includes loss on impairment and the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. No definition available.
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- Definition The costs related to management of properties. No definition available.
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- Definition Expenses From Rental Operations and real estate taxes (excluding amortization, depreciation and interest expense). No definition available.
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- Definition Total revenue from rental operations less expenses from rental operations and real estate taxes (excluding depreciation and amortization related to real estate investments and impairment of real estate investments). No definition available.
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- Definition Utilities costs incurred during the reporting period for services, such as water, sewer, gas, electricity and telephone required to operate a building. No definition available.
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- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition This element represents interest incurred for borrowed money which was used to produce goods or render services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A contract to provide coverage or protection in exchange for a payment or "premium". Examples of insurance protection include liability and property insurance. The entity paying the premiums for the protection will have insurance expense and possibly an asset, Prepaid Insurance (if the premiums are paid in advance). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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