v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Operating Real Estate Investments    
Land $ 371,656 $ 371,656
Buildings and improvements 1,830,396 1,812,311
Intangible lease assets   1,052
Construction in progress 1,245 8,535
Furniture, fixtures, and equipment 243,608 224,661
Total Gross Operating Real Estate Investments 2,446,905 2,418,215
Accumulated depreciation and amortization (674,685) (604,321)
Total Net Operating Real Estate Investments 1,772,220 1,813,894
Cash and cash equivalents 15,803 13,704
Restricted cash 38,845 31,476
Accounts receivable, net [1] 7,196 9,059
Prepaid and other assets [2] 21,767 4,852
Fair market value of interest rate swaps 4,346 13,434
TOTAL ASSETS 1,860,177 1,886,419
Liabilities:    
Mortgages payable, net 1,513,336 1,469,410
Credit facility, net 77,817 88,102
Accounts payable and other accrued liabilities 13,192 11,554
Accrued real estate taxes payable 16,819 5,251
Accrued interest payable 6,579 7,053
Security deposit liability 2,735 2,980
Prepaid rents 834 1,170
Fair market value of interest rate swaps   475
Total Liabilities 1,631,312 1,585,995
Redeemable noncontrolling interests in the OP 4,724 4,928
Stockholders' Equity:    
Preferred stock, $0.01 par value: 100,000,000 shares authorized; 0 shares issued
Common stock, $0.01 par value: 500,000,000 shares authorized; 25,549,813 and 25,364,470 shares issued and outstanding, respectively 256 254
Additional paid-in capital 412,719 406,628
Accumulated earnings less dividends (192,278) (123,409)
Accumulated other comprehensive income 3,444 12,023
Total Stockholders' Equity 224,141 295,496
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,860,177 $ 1,886,419
[1] Includes $0.0 million and $0.0 million from a related party as of September 30, 2026 and December 31, 2025, respectively (see Note 9).
[2] Includes $14.7 million and $0.0 million note receivable from a related party as of September 30, 2026 and December 31, 2025, respectively (see Note 9).