v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) $ (1,077) $ (1,094)
Adjustments to reconcile net (loss) to net cash provided by operating activities    
Depreciation and amortization 7,535 7,094
Amortization of deferred financing costs 47 45
Straight-line rent amortization (1,851) (2,083)
Non-cash finance lease interest expense 1,059 987
Non-cash compensation expense 192 192
Changes in assets and liabilities    
Other assets (194) 141
Due to affiliates 1,466 1,964
Other liabilities 12 (16)
Accounts payable and accrued expenses 611 (71)
Net cash provided by operating activities 7,800 7,159
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital improvements to real estate   (109)
Capital expenditures for construction in progress   (7,256)
Net cash (used in) investing activities   (7,365)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 12,447 25,109
Repurchase of common stock (945)  
Distributions paid on common stock (266) (132)
Dividends paid on preferred stock (11) (11)
Distributions paid on redeemable non-controlling interest (5,095) (4,548)
Net cash provided by financing activities 6,130 20,418
Net change in cash, cash equivalents and restricted cash 13,930 20,212
Cash, cash equivalents and restricted cash, beginning of period 18,844 32,458
Cash, cash equivalents and restricted cash, end of period 32,774 52,670
Supplemental disclosure of cash flow information:    
Interest paid - finance lease 2,440 2,434
Interest paid - mortgage notes 5,051 5,051
Non-cash investing and financing activities    
Accrued offering costs due to affiliate 850 500
Other accrued costs due to affiliates 1,020 920
Distribution reinvestments 1,424 589
Redeemable non-controlling interest    
Non-cash investing and financing activities    
Distributions accrued and not paid 847 849
Common stock    
Non-cash investing and financing activities    
Distributions accrued and not paid $ 312 $ 179