v3.26.3
SEGMENTS - Schedule of Revenues and Net Operating Income for Reportable Segments (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Segment revenues and net operating income [Abstract]        
Revenue $ 59,515,000 $ 71,399,000 $ 190,366,000 $ 207,041,000
Property operating expenses        
On-site compensation 6,270,000 7,440,000 19,350,000 21,400,000
Repairs and maintenance 3,726,000 4,668,000 10,140,000 11,773,000
Utilities 3,788,000 4,367,000 11,802,000 12,987,000
Administrative and marketing 1,433,000 1,926,000 4,925,000 5,283,000
Insurance 2,289,000 2,809,000 7,156,000 7,688,000
Real estate taxes 6,157,000 7,165,000 20,511,000 22,506,000
Net operating income 35,852,000 43,024,000 116,482,000 125,404,000
Property management expense (1,986,000) (2,489,000) (6,459,000) (7,315,000)
Casualty loss, net of recoveries 441,000 (127,000) 668,000 (1,058,000)
Depreciation and amortization (23,127,000) (29,056,000) (74,700,000) (83,807,000)
Impairment of real estate investments 0 (8,676,000) (9,700,000) (23,219,000)
General and administrative expenses (4,995,000) (4,997,000) (16,986,000) (14,376,000)
Merger related costs (5,020,000) 0 (5,020,000) 0
Gain on sale of real estate and other investments 150,308,000 79,531,000 150,579,000 79,531,000
Interest expense (8,412,000) (12,989,000) (29,505,000) (33,348,000)
Loss on extinguishment of debt (526,000) (3,000) (526,000) (3,000)
Interest and other income 1,112,000 1,190,000 2,711,000 2,633,000
NET INCOME 143,647,000 65,408,000 127,544,000 44,442,000
Operating Segments | Multifamily        
Segment revenues and net operating income [Abstract]        
Revenue 56,173,000 54,957,000 167,645,000 157,587,000
Property operating expenses        
On-site compensation 5,929,000 5,604,000 17,213,000 16,033,000
Repairs and maintenance 3,560,000 3,616,000 8,962,000 8,653,000
Utilities 3,617,000 3,267,000 10,338,000 9,377,000
Administrative and marketing 1,392,000 1,475,000 4,448,000 3,929,000
Insurance 2,123,000 2,205,000 6,340,000 5,798,000
Real estate taxes 5,856,000 5,344,000 18,166,000 16,845,000
Net operating income 33,696,000 33,446,000 102,178,000 96,952,000
All Other        
Segment revenues and net operating income [Abstract]        
Revenue 793,000 789,000 2,418,000 2,184,000
Property operating expenses        
On-site compensation 0 0 0 0
Repairs and maintenance 16,000 60,000 105,000 144,000
Utilities 33,000 39,000 93,000 109,000
Administrative and marketing 0 2,000 0 6,000
Insurance 14,000 19,000 46,000 58,000
Real estate taxes 159,000 141,000 523,000 456,000
Net operating income 571,000 528,000 1,651,000 1,411,000
Unallocated        
Segment revenues and net operating income [Abstract]        
Revenue 2,549,000 15,653,000 20,303,000 47,270,000
Property operating expenses        
On-site compensation 341,000 1,836,000 2,137,000 5,367,000
Repairs and maintenance 150,000 992,000 1,073,000 2,976,000
Utilities 138,000 1,061,000 1,371,000 3,501,000
Administrative and marketing 41,000 449,000 477,000 1,348,000
Insurance 152,000 585,000 770,000 1,832,000
Real estate taxes 142,000 1,680,000 1,822,000 5,205,000
Net operating income $ 1,585,000 $ 9,050,000 $ 12,653,000 $ 27,041,000