v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income (loss) $ 6,190 $ (1,804)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 7,364 7,646
Stock compensation expense 1,548 1,294
Amortization of deferred rents (2,539) (2,572)
Amortization of deferred financing costs and fair value adjustment of assumed mortgage note payable 177 315
Amortization of (below) above market lease intangibles, net (436) (424)
Impairment of real estate investment property 0 4,000
Loss on other investments 172 0
Gain on sale of real estate investments, net (7,542) (84)
Amortization of unrealized holding gain and unrealized gain on non-designated or ineffective interest rate derivative instruments (503) (503)
Adjustment for receipts from off-market interest rate derivatives (1,505) (2,375)
Amortization of off-market interest rate derivatives 1,192 1,818
Loss on extinguishment of debt 1,145 0
Income from unconsolidated investment in a real estate property (38) (264)
Distributions from unconsolidated investment in a real estate property 83 326
Changes in operating assets and liabilities:    
Decrease in tenant rent and other receivables 188 127
Decrease in prepaid expenses and other assets 438 220
Increase (decrease) in accounts payable, accrued and other liabilities 1,648 (732)
Net cash provided by operating activities 7,582 6,988
Cash Flows from Investing Activities:    
Acquisitions of real estate investments (9,629) (345)
Improvements to existing real estate investments and other assets (538) (121)
Net proceeds from sale of real estate investments 21,788 2,329
Purchase deposits applied 100 250
Investments in off-market interest rate derivatives (2,656) (4,200)
Receipts from off-market interest rate derivatives 1,505 2,375
Net cash provided by investing activities 10,570 288
Cash Flows from Financing Activities:    
Repayments of credit facility revolver, net (2,000) 0
Principal payments on mortgage notes payable (282) (276)
Payments of Credit Facility amendment and deferred financing costs (1,100) (70)
Proceeds from offering of common stock, net 0 1,671
Repurchases of preferred stock (596) (6,530)
Dividends paid to preferred stockholders (1,559) (1,749)
Net cash used in financing activities (10,907) (12,992)
Net increase (decrease) in cash and cash equivalents 7,245 (5,716)
Cash and cash equivalents, beginning of period 14,381 11,530
Cash and cash equivalents, end of period 21,626 5,814
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 5,637 6,134
Supplemental Schedule of Noncash Investing and Financing Activities:    
Change in accrued capital expenditures 371 0
Mortgage note assumed in acquisition of real estate investments, net of fair value adjustment 11,825 0
Issuance of Class C OP Units in the acquisition of a real estate investment 0 5,850
Reinvested distributions from common stockholders 281 976
Accrued distributions 23 (54)
Revolving Credit Facility    
Cash Flows from Financing Activities:    
Borrowings from credit facility revolver 2,000 0
Class C OP Units    
Cash Flows from Financing Activities:    
Distributions paid to common stockholders and non-controlling interest holders $ (7,370) $ (6,038)