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 $ (908) $ (1,055)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 4,706 4,885
Net realized (gain) loss upon sale of real estate (231) 91
Net realized loss from sale of marketable securities 1 1
Net unrealized (gain) loss on investments held at fair value (19) 4
Share-based compensation 36 37
Amortization of intangible lease assets and liabilities 680 742
Amortization of deferred financing costs 281 483
Straight line rent (276) (803)
Amortization of discount on note to affiliate 0 79
Changes in assets and liabilities:    
Receivables, net (35) (37)
Deferred leasing costs (115) (242)
Prepaid and other assets (363) (480)
Accounts payable and accrued expenses (82) 520
Other liabilities (324) 162
Due to affiliates (28) 197
Net cash provided by operating activities 3,323 4,584
Cash flows from investing activities:    
Proceeds from sale of real estate assets 25,736 4,574
Improvements to real estate assets (1,050) (2,701)
Investment in marketable securities (38) (47)
Proceeds from sale of marketable securities 35 44
Net cash provided by investing activities 24,683 1,870
Cash flows from financing activities:    
Proceeds from line of credit 14,700 12,400
Repayment of line of credit (17,750) 0
Repayment of mortgage loans payable (16,176) (244)
Proceeds from issuance of common stock 15,700 7,870
Payment of offering costs (1,209) (1,239)
Distributions to investors (3,710) (4,256)
Redemption of common stock (20,778) (23,870)
Net cash used in financing activities (29,223) (9,339)
Net (decrease) increase in cash, cash equivalents, and restricted cash (1,217) (2,885)
Cash, cash equivalents, and restricted cash beginning of period 7,236 8,506
Cash, cash equivalents, and restricted cash end of period 6,019 5,621
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Common stock issued through the distribution reinvestment plan 2,380 2,957
Proceeds from issuance of common stock not yet received 0 135
Redemption of common stock not yet paid 2,117 2,356
Accrued offering costs not yet paid 2 316
Capital expenditures not yet paid 217 455
Supplemental Cash Flow Disclosures:    
Interest paid $ 5,691 $ 6,269