v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Rental revenue $ 25,681,000 $ 21,876,000 $ 48,990,000 $ 43,844,000
Interest income on notes receivable from affiliates 1,130,000 1,239,000 2,336,000 2,605,000
Other 85,000 35,000 168,000 56,000
Total revenues 26,896,000 23,150,000 51,494,000 46,505,000
Operating Expenses        
Property operating expenses 3,020,000 2,766,000 6,345,000 5,810,000
Management fees to affiliates 787,000 91,000 1,315,000 520,000
General and administrative expenses 546,000 399,000 1,035,000 738,000
Depreciation and amortization 13,241,000 11,072,000 24,350,000 22,044,000
Provisions for impairment 1,890,000 0 1,890,000 0
Total operating expenses 19,484,000 14,328,000 34,935,000 29,112,000
Gain on sales, net 0 5,184,000 0 5,184,000
Income from Operations 7,412,000 14,006,000 16,559,000 22,577,000
Other Income (Expense)        
Interest expense (11,059,000) (9,348,000) (20,462,000) (18,540,000)
Interest income 4,000 6,000 22,000 10,000
Total other income (expense) (11,055,000) (9,342,000) (20,440,000) (18,530,000)
Net (loss) income (3,643,000) 4,664,000 (3,881,000) 4,047,000
Net loss (income) attributable to noncontrolling interests 1,435,000 (1,652,000) 1,521,000 (1,435,000)
Net (loss) income attributable to common shareholders $ (2,208,000) $ 3,012,000 $ (2,360,000) $ 2,612,000
Net (loss) income per common share attributable to common shareholders, basic $ (0.13) $ 0.18 $ (0.14) $ 0.16
Net (loss) income per common share attributable to common shareholders, diluted $ (0.13) $ 0.18 $ (0.14) $ 0.16
Weighted average number of common shares outstanding, basic 17,059,401 16,615,390 16,995,578 16,568,790
Weighted average number of common shares outstanding, diluted 17,059,401 16,615,390 16,995,578 16,568,790
Other comprehensive loss (income):        
Net (loss) income $ (3,643,000) $ 4,664,000 $ (3,881,000) $ 4,047,000
Other comprehensive income (loss) - unrealized gain/(loss) on change in fair value of cash flow hedges 218,000 (126,000) 403,000 (393,000)
Comprehensive (loss) income (3,425,000) 4,538,000 (3,478,000) 3,654,000
Comprehensive loss (income) attributable to noncontrolling interests 1,348,000 (1,606,000) 1,384,000 (1,296,000)
Comprehensive (loss) income attributable to common shareholders $ (2,077,000) $ 2,932,000 $ (2,094,000) $ 2,358,000