| Schedule of operations in different segments |
Information about the Company’s operations in different segments for the three months ended September 30, 2026 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 38,451 | | $ | — | | $ | — | | $ | 38,451 | Management Fee Income | | | — | | | 1,521 | | | — | | | 1,521 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 6,942 | | | 6,942 | Total Revenues for Reportable Segments | | $ | 38,451 | | $ | 1,521 | | $ | 6,942 | | $ | 46,914 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (11,581) | | $ | — | | $ | — | | $ | (11,581) | Total Revenues Less Direct Costs of Revenues | | $ | 26,870 | | $ | 1,521 | | $ | 6,942 | | $ | 35,333 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (354) | | | (354) | Depreciation and Amortization - Real Estate | | | (17,376) | | | — | | | — | | | (17,376) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 9,494 | | $ | 1,521 | | $ | 6,588 | | $ | 17,603 | Gain on Disposition of Assets | | | — | | | — | | | — | | | — | Net Income From Operations for Reportable Segments | | $ | 9,494 | | $ | 1,521 | | $ | 6,588 | | $ | 17,603 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Loss | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (5,806) | Investment and Other Loss | | | | | | | | | | | | (9,419) | Interest Expense | | | | | | | | | | | | (7,934) | Loss on Extinguishment of Debt | | | | | | | | | | | | (211) | Depreciation and Amortization - Other | | | | | | | | | | | | (17) | Net Loss Before Income Tax Benefit | | | | | | | | | | | $ | (5,784) | Income Tax Benefit | | | | | | | | | | | | 612 | Net Loss Attributable to the Company | | | | | | | | | | | $ | (5,172) |
Information about the Company’s operations in different segments for the three months ended September 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 33,439 | | $ | — | | $ | — | | $ | 33,439 | Management Fee Income | | | — | | | 1,176 | | | — | | | 1,176 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 3,142 | | | 3,142 | Total Revenues for Reportable Segments | | $ | 33,439 | | $ | 1,176 | | $ | 3,142 | | $ | 37,757 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (9,274) | | $ | — | | $ | — | | $ | (9,274) | Total Revenues Less Direct Costs of Revenues | | $ | 24,165 | | $ | 1,176 | | $ | 3,142 | | $ | 28,483 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (68) | | | (68) | Depreciation and Amortization - Real Estate | | | (14,913) | | | — | | | — | | | (14,913) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 9,252 | | $ | 1,176 | | $ | 3,074 | | $ | 13,502 | Gain on Disposition of Assets | | | 1,373 | | | — | | | — | | | 1,373 | Net Income From Operations for Reportable Segments | | $ | 10,625 | | $ | 1,176 | | $ | 3,074 | | $ | 14,875 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (4,780) | Investment and Other Loss | | | | | | | | | | | | (221) | Interest Expense | | | | | | | | | | | | (6,833) | Loss on Extinguishment of Debt | | | | | | | | | | | | (53) | Depreciation and Amortization - Other | | | | | | | | | | | | (16) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 2,972 | Income Tax Expense | | | | | | | | | | | | (58) | Net Income Attributable to the Company | | | | | | | | | | | $ | 2,914 |
Information about the Company’s operations in different segments for the nine months ended September 30, 2026 is as follows (in thousands): | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 112,167 | | $ | — | | $ | — | | $ | 112,167 | Management Fee Income | | | — | | | 4,336 | | | — | | | 4,336 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 15,415 | | | 15,415 | Total Revenues for Reportable Segments | | $ | 112,167 | | $ | 4,336 | | $ | 15,415 | | $ | 131,918 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (32,875) | | $ | — | | $ | — | | $ | (32,875) | Total Revenues Less Direct Costs of Revenues | | $ | 79,292 | | $ | 4,336 | | $ | 15,415 | | $ | 99,043 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (1,117) | | | (1,117) | Depreciation and Amortization - Real Estate | | | (49,145) | | | — | | | — | | | (49,145) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 30,147 | | $ | 4,336 | | $ | 14,298 | | $ | 48,781 | Gain on Disposition of Assets | | | 2,107 | | | — | | | — | | | 2,107 | Net Income From Operations for Reportable Segments | | $ | 32,254 | | $ | 4,336 | | $ | 14,298 | | $ | 50,888 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (15,513) | Investment and Other Income | | | | | | | | | | | | 4,589 | Interest Expense | | | | | | | | | | | | (22,988) | Loss on Extinguishment of Debt | | | | | | | | | | | | (211) | Depreciation and Amortization - Other | | | | | | | | | | | | (51) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 16,714 | Income Tax Expense | | | | | | | | | | | | (569) | Net Income Attributable to the Company | | | | | | | | | | | $ | 16,145 |
Information about the Company’s operations in different segments for the nine months ended September 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 98,486 | | $ | — | | $ | — | | $ | 98,486 | Management Fee Income | | | — | | | 3,601 | | | — | | | 3,601 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 9,119 | | | 9,119 | Total Revenues for Reportable Segments | | $ | 98,486 | | $ | 3,601 | | $ | 9,119 | | $ | 111,206 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (28,343) | | $ | — | | $ | — | | $ | (28,343) | Total Revenues Less Direct Costs of Revenues | | $ | 70,143 | | $ | 3,601 | | $ | 9,119 | | $ | 82,863 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (68) | | | (68) | Depreciation and Amortization - Real Estate | | | (44,536) | | | — | | | — | | | (44,536) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 25,607 | | $ | 3,601 | | $ | 9,051 | | $ | 38,259 | Gain on Disposition of Assets | | | 1,373 | | | — | | | — | | | 1,373 | Net Income From Operations for Reportable Segments | | $ | 26,980 | | $ | 3,601 | | $ | 9,051 | | $ | 39,632 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Loss | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (13,911) | Investment and Other Loss | | | | | | | | | | | | (3,333) | Interest Expense | | | | | | | | | | | | (19,828) | Loss on Extinguishment of Debt | | | | | | | | | | | | (20,449) | Depreciation and Amortization - Other | | | | | | | | | | | | (51) | Net Loss Before Income Tax Expense | | | | | | | | | | | $ | (17,940) | Income Tax Expense | | | | | | | | | | | | (303) | Net Loss Attributable to the Company | | | | | | | | | | | $ | (18,243) |
Capital expenditures of each segment for the three and nine months ended September 30, 2026 and 2025 are as follows (in thousands): | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Capital Expenditures: | | | | | | | | | | | | | Income Properties | | $ | 74,438 | | $ | 6,128 | | $ | 225,292 | | $ | 87,187 | Commercial Loans and Investments | | | 34,878 | | | 6,381 | | | 147,457 | | | 12,786 | Corporate and Other | | | 3 | | | 8 | | | 14 | | | 33 | Total Capital Expenditures | | $ | 109,319 | | $ | 12,517 | | $ | 372,763 | | $ | 100,006 |
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