v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,448) $ (9,948)
Adjustments to reconcile net loss to net cash used in operating activities:    
Earnings from investment in unconsolidated affiliated real estate entity (320) 387
Depreciation and amortization 3,769 3,693
Amortization of deferred financing costs 1,108 1,017
Casualty (gain)/loss, net (1,000) 300
Settlement of unpaid interest previously accrued as mortgage payable 0 (4,454)
Changes in assets and liabilities:    
(Increase)/decrease in accounts receivable other assets (398) 87
Increase in accounts payable, accrued expenses and other liabilities 252 1,023
Increase in accrued interest on subordinated advances - related party 187 187
Net cash used in operating activities (850) (7,708)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment property (1,645) (2,986)
Distributions from unconsolidated affiliated real estate entities 3,400 1,233
Proceeds from property insurance 1,500 0
Investment in unconsolidated affiliated real estate entity (133) (242)
Net cash provided by/(used in) investing activities 3,122 (1,995)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage financing 0 95,095
Payments on mortgage payable 0 (77,000)
Payment of loan fees and expenses 0 (2,977)
Contributions of noncontrolling interests 0 122
Redemption and cancellation of common stock (781) (813)
Net cash (used in)/provided by financing activities (781) 14,427
Change in cash, cash equivalents and restricted cash 1,491 4,724
Cash, cash equivalents and restricted cash, beginning of year 12,456 7,732
Cash, cash equivalents and restricted cash, end of year 13,947 12,456
Supplemental disclosure of cash flow information:    
Cash paid for taxes 39 26
Cash paid for interest 9,047 16,490
Accrued loan exit fee 0 475
Accrued insurance recovery of casualty loss 0 500
The following is a summary of the Company’s cash, cash equivalents and restricted cash total as presented in our statements of cash flows for the periods presented:    
Cash and cash equivalents 9,029 8,120
Restricted cash 4,918 4,336
Total cash, cash equivalents and restricted cash $ 13,947 $ 12,456