v3.26.3
Real Estate, Net (Tables)
 9 Months Ended
Sep. 30, 2026
Real Estate [Abstract]  
Schedule of Real Estate Investment
The following is a summary of real estate, net, collectively, as of September 30, 2026 and December 31, 2025, respectively (dollar amounts in thousands):

September 30, 2026December 31, 2025
Land$58,854 $64,460 
Building and improvements431,677 454,872 
Furniture, fixture and equipment14,809 14,516 
Operating real estate
$505,340 $533,848 
Accumulated depreciation(75,502)(65,132)
Operating real estate, net$429,838 $468,716 
Real estate held for sale, net (1)
$9,752 $84,780 
Real estate, net
$439,590 $553,496 

(1)Real estate held for sale, net is recorded at the lower of the net carrying amount of the assets or the estimated fair value, net of selling costs.
Schedule of Depreciation Expense
The following table presents depreciation expense for the three and nine months ended September 30, 2026 and 2025, respectively (dollar amounts in thousands):

For the Three Months Ended September 30,For the Nine Months Ended September 30,
2026202520262025
Depreciation expense on operating real estate$4,503 $5,936 $13,612 $17,759 
Schedule of Assets and Liabilities of Disposal Group Held for Sale
The following table presents the pretax losses of the disposal group held for sale as of September 30, 2025 for the three and nine months ended September 30, 2025, respectively (dollar amounts in thousands):
For the Three Months Ended September 30, 2025For the Nine Months Ended September 30, 2025
Pretax income (loss) of disposal group held for sale$155 $(6,886)
Pretax (income) loss of disposal group attributable to non-controlling interest in Consolidated VIEs(80)479 
Pretax income (loss) of disposal group attributable to Company's common stockholders$75 $(6,407)