v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income:    
Rental income $ 38,733 $ 38,756
Other property income 177 49
Total income 38,910 38,805
Expenses:    
Property operating expenses 8,647 8,584
Real estate tax expense 4,711 4,504
General and administrative expenses 1,324 1,924
Business management fee 2,327 2,242
Depreciation and amortization 14,294 14,465
Total expenses 31,303 31,719
Other Income (Expense):    
Interest expense (9,894) (9,727)
Interest and other income 38 40
Net loss $ (2,249) $ (2,601)
Net loss per common share, basic $ (0.06) $ (0.07)
Net loss per common share, diluted $ (0.06) $ (0.07)
Weighted average number of common shares outstanding, basic 36,110,108 36,104,130
Weighted average number of common shares outstanding, diluted 36,110,108 36,104,130
Comprehensive loss:    
Net loss $ (2,249) $ (2,601)
Unrealized gain (loss) on derivatives 3,676 (2,497)
Reclassification adjustment for amounts included in net loss (1,921) (2,900)
Comprehensive loss $ (494) $ (7,998)