v3.26.1
Investments in Unconsolidated Entities - Summary of Combined Condensed Financial Data of Unconsolidated Entities (Detail) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Investment in real estate                
Land $ 19,754   $ 19,754     $ 25,406    
Accumulated depreciation (15,455)   (15,455)     (14,908)    
Net investment in real estate 129,133   129,133     146,073    
Cash and cash equivalents 48,426 $ 71,802 48,426 $ 71,802   48,088   $ 85,206
Total assets 353,579   353,579     393,779    
Liabilities                
Total liabilities 61,362   61,362     60,979    
Members' Interest                
Retained earnings (accumulated deficit) (1,070,401)   (1,070,401)     (1,031,893)    
Total equity 292,217 352,737 292,217 352,737 $ 301,311 332,800 $ 382,450 $ 405,803
Total liabilities and equity 353,579   353,579     393,779    
Total revenue 1,874 4,653 3,924 9,252        
Gain (loss) on sale     35 8,903        
Net loss (6,128) (28,506) (36,446) (50,708)        
Unconsolidated Entities Including UTC JV [Member]                
Investment in real estate                
Land 27,992   27,992     27,992    
Buildings and improvements 149,373   149,373     149,373    
Accumulated depreciation (19,983)   (19,983)     (17,324)    
Investment in real estate, gross 157,382   157,382     160,041    
Construction in progress 3,640   3,640     3,521    
Net investment in real estate 161,022   161,022     163,562    
Cash and cash equivalents 1,202   1,202     1,642    
Tenant and other receivables, net 11,570   11,570     11,780    
Other assets, net 10,121   10,121     10,236    
Total assets 183,915   183,915     187,220    
Liabilities                
Accounts payable, accrued expenses and other liabilities 5,372   5,372     6,026    
Total liabilities 5,372   5,372     6,026    
Members' Interest                
Total equity 178,543   178,543     181,194    
Total liabilities and equity 183,915   183,915     187,220    
Carrying value of Company's investments in unconsolidated entities 94,220   94,220     95,475    
Total revenue 4,183 5,052 8,335 9,834        
Property operating expenses (834) (641) (1,567) (1,289)        
Depreciation and amortization (1,557) (1,692) (3,115) (3,257)        
Operating income (loss) 1,792 2,719 3,653 5,288        
Other income (expenses) (37) (134) (59) (293)        
Net loss 1,755 2,585 3,594 4,995        
Equity in loss of unconsolidated entities [1] 913 1,328 1,868 2,606        
Unconsolidated Entities [Member] | Unconsolidated Entities Excluding UTC JV [Member]                
Investment in real estate                
Land 56,828   56,828     60,931    
Buildings and improvements 30,991   30,991     30,991    
Accumulated depreciation (11,106)   (11,106)     (10,466)    
Investment in real estate, gross 76,713   76,713     81,456    
Construction in progress 50,106   50,106     70,207    
Net investment in real estate 126,819   126,819     151,663    
Cash and cash equivalents 12,401   12,401     7,817    
Tenant and other receivables, net 15,285   15,285     345    
Other assets, net 326   326     15,625    
Total assets 154,831   154,831     175,450    
Liabilities                
Accounts payable, accrued expenses and other liabilities 11,467   11,467     12,076    
Total liabilities 11,467   11,467     12,076    
Members' Interest                
Total equity 143,364   143,364     163,374    
Total liabilities and equity 154,831   154,831     175,450    
Carrying value of Company's investments in unconsolidated entities 49,106   49,106     $ 60,767    
Total revenue 141 695 703 984        
Property operating expenses (688) (1,053) (1,381) (1,889)        
Depreciation and amortization (321) (754) (640) (1,696)        
Operating income (loss) (868) (1,112) (1,318) (2,601)        
Other income (expenses) 42 22 132 157        
Gain (loss) on sale 74 0 (8,512) 0        
Net loss (752) (1,090) (9,698) (2,444)        
Equity in loss of unconsolidated entities [2] $ (405) $ (572) $ (8,527) $ (9,778)        
[1] Equity in income (loss) of unconsolidated entities on the condensed consolidated statements of operations includes basis difference adjustments.
[2] Equity in (loss) of unconsolidated entities on the condensed consolidated statements of operations includes basis difference adjustments.