Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Total Lease Costs Associated with Operating and Finance Leases

The following table summarizes the total lease costs associated with operating and finance leases:


(in thousands)	Financial Statement Presentation	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2026		2025		2026		2025
Operating lease costs:
Office leases	General and administrative	$	252	$	215	$	755	$	755
Ground leases	Property and operating expense	81		40		244		106
Ground leases - development properties	Property under development	—		55		21		166
Variable lease costs - ground leases	Property and operating expense	16		17		43		54
Financing lease costs:
Amortization of right-of-use assets	Depreciation and amortization	14		14		41		36
Interest expense on lease liabilities	Interest expense	69		68		206		180
Total lease cost		$	432	$	409	$	1,310	$	1,297

Schedule of Payments Associated with Obligations Under Operating and Finance Leases

The following table summarizes payments associated with obligations under operating and finance leases reported as net cash provided by operating activities on the accompanying Condensed Consolidated Statements of Cash Flows:


	For the Nine Months Ended September 30,
(in thousands)	2026		2025
Operating lease payments	$	1,032	$	1,054
Financing lease payments	163		145
Total	$	1,195	$	1,199

Schedule of Minimum Future Rental Payments due from the Company for Operating Leases

At September 30, 2026, minimum future rental payments due from the Company for operating and finance leases over the next five years and thereafter are as follows:


(in thousands)	Operating Leases		Financing Leases
Remainder of 2026	$	327	$	54
2027	1,251		218
2028	1,134		218
2029	1,174		238
2030	1,202		245
Thereafter	14,632		18,061
Total undiscounted lease payments	19,720		19,034
Present value adjustment for remaining lease payments	(10,622)		(16,262)
Total lease liability	$	9,098	$	2,772

Schedule of Minimum Future Rental Payments due from the Company for Finance Leases

At September 30, 2026, minimum future rental payments due from the Company for operating and finance leases over the next five years and thereafter are as follows:


(in thousands)	Operating Leases		Financing Leases
Remainder of 2026	$	327	$	54
2027	1,251		218
2028	1,134		218
2029	1,174		238
2030	1,202		245
Thereafter	14,632		18,061
Total undiscounted lease payments	19,720		19,034
Present value adjustment for remaining lease payments	(10,622)		(16,262)
Total lease liability	$	9,098	$	2,772