Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Non-Recourse Mortgage Non-Payment Our remaining non-recourse mortgage loan, with an outstanding principal balance of $21.9 million, was not repaid on its maturity date of July 6, 2026, and the lender has the right to commence foreclosure proceedings. As of the date of this Report, the lender has not exercised such a right. This loan encumbers a property that was leased to Intuit as of June 30, 2026 but is vacant as of the date of this Report. In addition, this loan has accrued default interest at an annual rate of 5.0% since the original maturity date, in addition to the base interest rate of 7.0% (Note 8). Lease Amendments In July 2026, we entered into lease amendments with Grande Communications for four of the five properties it occupies in Texas to (i) extend the lease expiration from August 31, 2028 to June 30, 2041 and (ii) reduce ABR from $2.2 million to $1.8 million (commencing July 1, 2026). In addition, we entered into a lease termination for the fifth property occupied by Grande Communications to terminate the lease effective January 31, 2027 (ABR is $0.2 million and the previous lease expiration was August 31, 2028).
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