| Schedule of segment net operating income |
| | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | Three Months Ended | | Six Months Ended | (in thousands) | | | June 30, 2026 | | June 30, 2026 | | June 30, 2025 | | June 30, 2025 | Total consolidated revenues | | | $ | 26,355 | | $ | 52,580 | | $ | 26,715 | | $ | 53,822 | | | | | | | | | | | | | | | Reconciling items: | | | | | | | | | | | | | | Amortization of above/below market leases | | | | (1) | | | (1) | | | — | | | — | Less: | | | | | | | | | | | | | | Real estate operating expenses | | | | 10,006 | | | 20,296 | | | 10,701 | | | 20,796 | Real estate taxes and insurance | | | | 4,550 | | | 8,793 | | | 4,191 | | | 9,560 | Segment NOI | | | $ | 11,798 | | $ | 23,490 | | $ | 11,823 | | $ | 23,466 | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | Three Months Ended | | Six Months Ended | Reconciliation to Net loss | | | June 30, 2026 | | June 30, 2026 | | June 30, 2025 | | June 30, 2025 | Net loss | | | $ | (16,605) | | $ | (26,132) | | $ | (7,876) | | $ | (29,311) | Add (deduct): | | | | | | | | | | | | | | Loss on extinguishment of debt | | | | — | | | 1,267 | | | 3 | | | 5 | (Gain) loss on sale of properties and impairment of assets held for sale, net | | | | 7,691 | | | 7,691 | | | (384) | | | 12,900 | Depreciation and amortization | | | | 10,432 | | | 21,012 | | | 10,626 | | | 21,450 | Amortization of above/below market leases | | | | (1) | | | (1) | | | — | | | — | General and administrative | | | | 2,401 | | | 5,070 | | | 3,281 | | | 6,765 | Interest expense | | | | 7,987 | | | 14,799 | | | 6,339 | | | 12,030 | Interest income | | | | (157) | | | (320) | | | (248) | | | (507) | Tax expense | | | | 50 | | | 104 | | | 82 | | | 134 | Segment NOI | | | $ | 11,798 | | $ | 23,490 | | $ | 11,823 | | $ | 23,466 |
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