v3.26.3
Basis of Presentation and Principles of Consolidation - VIEs (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Real estate      
Real estate, at cost (refer to Note 4 and Note 5) [1] $ 95,506 $ 179,062  
Less: accumulated depreciation [1] (28,945) (29,713)  
Real estate, net [1] 66,561 149,349  
Land and development, net [1] 91,040 112,836  
Cash 63,568 [1] 50,078 [1] $ 40,592
Deferred expenses and other assets, net [1] 16,923 26,774  
Total assets [1] 414,972 570,197  
LIABILITIES      
Total liabilities [1] 177,454 304,331  
Consolidated VIEs      
Real estate      
Real estate, at cost (refer to Note 4 and Note 5) 92,707 176,262  
Less: accumulated depreciation (27,775) (28,658)  
Real estate, net 64,932 147,604  
Land and development, net 56,363 71,132  
Cash 7,903 7,863  
Deferred operating lease income receivable, Net 7    
Deferred expenses and other assets, net 6,671 8,524  
Total assets 135,876 235,123  
LIABILITIES      
Total liabilities $ 8,539 $ 91,077  
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).