v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ 948 $ 114 $ (2,590) $ (3,605)
Adjustments to reconcile net loss to net cash used in operating activities:        
Earnings from investment in unconsolidated affiliated real estate entity     87 (499)
Casualty gain, net     (578)  
Depreciation and amortization     1,959 1,866
Amortization of deferred financing costs     554 554
Changes in assets and liabilities:        
Increase in accounts receivable and other assets     (1,290) (587)
Increase/(decrease) in accounts payable, accrued expenses and other liabilities     768 (18)
Increase in accrued interest on subordinated advances - related party     93 93
Net cash used in operating activities     (997) (2,196)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of investment property     (365) (1,058)
Distributions from unconcolidated affiliated real estate entity     2,667 3,400
Proceeds from property insurance claim     578 500
Net cash provided by investing activities     2,880 2,842
CASH FLOWS FROM FINANCING ACTIVITIES:        
Redemption and cancellation of common stock     (385) (391)
Net cash used in financing activities     (385) (391)
Change in cash, cash equivalents and restricted cash     1,498 255
Cash, cash equivalents and restricted cash, beginning of year     13,947 12,456
Cash, cash equivalents and restricted cash, end of period 15,445 12,711 15,445 12,711
Supplemental disclosure of cash flow information:        
Cash paid for interest     4,225 4,883
The following is a summary of the Company’s cash, cash equivalents and restricted cash total as presented in our statements of cash flows for the periods presented:        
Cash and cash equivalents 10,940 8,116 10,940 8,116
Restricted cash 4,505 4,595 4,505 4,595
Total cash, cash equivalents and restricted cash $ 15,445 $ 12,711 $ 15,445 $ 12,711