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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income from rental operations    
Real estate rental income $ 44,147 $ 42,180
Expenses from rental operations    
Operating expenses 18,843 17,836
Real estate taxes 4,512 3,860
Depreciation and amortization 7,755 7,025
Interest 7,083 6,270
Total expenses from rental operations 38,193 34,991
Administration of REIT 1,601 1,500
Total expenses 39,794 36,491
Income from operations 4,353 5,689
Other income (loss)    
Equity in losses of unconsolidated affiliates 845 (919)
Other income 333 137
Gain on involuntary conversion 239  
Total other income (loss) 1,417 (782)
Net income 5,770 4,907
Net income (loss) attributable to noncontrolling interest:    
Operating partnership 3,437 3,031
Partially owned properties (61) (230)
Net income attributable to Sterling Real Estate Trust $ 2,394 $ 2,106
Net income attributable to Sterling Real Estate Trust per common share, basic (in dollars per share) $ 0.18 $ 0.16
Net income attributable to Sterling Real Estate Trust per common share, diluted (in dollars per share) $ 0.18 $ 0.16
Comprehensive income    
Net income $ 5,770 $ 4,907
Other comprehensive (loss) income:    
Gain on cash flow hedges 848 (1,994)
Cash flow hedge losses reclassified to earnings (563) (788)
Total other comprehensive gain 285 (2,782)
Total comprehensive income 6,055 2,125
Comprehensive income attributable to noncontrolling interest 3,545 1,159
Comprehensive income attributable to Sterling Real Estate Trust $ 2,510 $ 966
Weighted average common shares outstanding, basic (in shares) 13,253,000 12,900,000
Weighted average common shares outstanding, diluted (in shares) 13,253,000 12,900,000