v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES:        
Rental and other property income $ 16,691,000 $ 15,779,000 $ 32,989,000 $ 32,999,000
Hotel income $ 12,190,000 $ 11,173,000 $ 24,067,000 $ 23,307,000
Revenue from Contract with Customer, Product and Service [Extensible List] Hotel Hotel Hotel Hotel
Interest and other income $ 802,000 $ 2,737,000 $ 2,044,000 $ 5,678,000
Total Revenues 29,683,000 29,689,000 59,100,000 61,984,000
EXPENSES:        
Rental and other property operating 16,629,000 16,974,000 33,776,000 34,099,000
Asset management and other fees to related parties 859,000 349,000 1,443,000 709,000
Interest 9,046,000 10,176,000 18,170,000 19,934,000
General and administrative 1,518,000 1,801,000 3,550,000 3,982,000
Transaction-related costs 17,000 803,000 24,000 829,000
Depreciation and amortization 7,071,000 6,264,000 14,792,000 12,824,000
Loss on early extinguishment of debt (Note 7) 0 88,000 705,000 88,000
Impairment of real estate (Note 3) 0 221,000 0 221,000
Casualty loss, net 455,000 0 455,000 0
Total Expenses 36,447,000 38,245,000 74,642,000 75,540,000
Loss from unconsolidated entities (3,222,000) (437,000) (4,598,000) (1,588,000)
Gain on sale of First Western (Note 5) 0 0 1,737,000 0
LOSS BEFORE PROVISION FOR INCOME TAXES (9,986,000) (8,993,000) (18,403,000) (15,144,000)
Provision for income taxes 0 158,000 0 279,000
NET LOSS (9,986,000) (9,151,000) (18,403,000) (15,423,000)
Net loss attributable to noncontrolling interests 90,000 152,000 198,000 310,000
NET LOSS ATTRIBUTABLE TO THE COMPANY (9,896,000) (8,999,000) (18,205,000) (15,113,000)
Redeemable preferred stock dividends declared or accumulated (Note 11) (980,000) (5,280,000) (5,160,000) (10,764,000)
Redeemable preferred stock redemptions (Note 11) (82,000) 0 (22,288,000) (300,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (10,958,000) $ (14,279,000) $ (45,653,000) $ (26,177,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:        
Basic (in usd per share) $ (4.03) $ (1,784.88) $ (28.30) $ (3,739.57)
Diluted (in usd per share) $ (4.03) $ (1,784.88) $ (28.30) $ (3,739.57)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 2,722 8 1,613 7
Diluted (in shares) 2,722 8 1,613 7
Corporate        
EXPENSES:        
Expense reimbursements to related parties $ 852,000 $ 891,000 $ 1,727,000 $ 1,517,000
Lending Segment        
EXPENSES:        
Expense reimbursements to related parties $ 0 $ 678,000 $ 0 $ 1,337,000