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Gain (loss) on the Sale of Assets and Other Income
6 Months Ended
Jun. 30, 2026
Gain (loss) on the Sale of Assets and Other Income  
Gain (loss) on the sale of assets and other income

12. Gain (loss) on the Sale of Assets and Other Income

During the second quarter of 2026, as part of the Company’s previously disclosed capital allocation plan to sell non-core assets, the Company sold a property in Sarasota, Florida for approximately $1.7 million. As a result of the sale, the Company recorded a gain of approximately $1.1 million, which is recorded in (gain) loss on sale of assets, net in the Company’s Condensed Consolidated Statement of Operations.

During the first quarter of 2026, as part of the Company’s previously disclosed capital allocation plan to sell non-core assets, the Company sold a property in Springfield, Massachusetts for approximately $460,000. As a result of the sale, the Company recorded a gain of approximately $80,000, which is recorded in (gain) loss on sale of assets, net in the Company’s Condensed Consolidated Statement of Operations.

During the first quarter of 2026, we had weather-related damages in Hilton Head, South Carolina. The Company’s insurance policy provides coverage for repairs and replacements. As part of the insurance settlement, the Company received cash proceeds of $55,000, resulting in a gain of $55,000, which is recorded in other income in the Company’s Condensed Consolidated Statement of Operations.