v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) $ (727) $ (636)
Adjustments to reconcile net (loss) to net cash provided by operating activities    
Depreciation and amortization 3,767 3,546
Amortization of deferred financing costs 24 22
Straight-line rent amortization (964) (1,079)
Non-cash finance lease interest expense 525 489
Non-cash compensation expense 96 96
Changes in assets and liabilities    
Other assets (255) 115
Due to affiliates 486 696
Other liabilities 920 (295)
Accounts payable and accrued expenses (303) (108)
Net cash provided by operating activities 3,569 2,846
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures for construction in progress   (7,166)
Net cash (used in) investing activities   (7,166)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 4,817 15,495
Repurchase of common stock (292)  
Distributions paid on common stock (127) (63)
Distributions paid on redeemable non-controlling interest (2,547) (2,219)
Net cash provided by financing activities 1,851 13,213
Net change in cash, cash equivalents and restricted cash 5,420 8,893
Cash, cash equivalents and restricted cash, beginning of period 18,844 32,458
Cash, cash equivalents and restricted cash, end of period 24,264 41,351
Supplemental disclosure of cash flow information:    
Interest paid - finance lease 1,220 1,220
Interest paid - mortgage notes 2,336 2,336
Non-cash investing and financing activities    
Accrued offering costs due to affiliate 290 177
Other accrued costs due to affiliates 805 820
Distribution reinvestments 679 230
Redeemable non-controlling interest    
Non-cash investing and financing activities    
Distributions accrued and not paid 848 740
Common stock    
Non-cash investing and financing activities    
Distributions accrued and not paid $ 281 $ 121