v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
REVENUES    
Total revenues $ 29,662 $ 34,548
EXPENSES    
Operating, maintenance and management 6,234 8,085
Real estate and other property-related taxes 4,450 5,140
Corporate general and administrative 2,570 2,405
Depreciation and amortization 7,698 8,680
Total expenses 20,952 24,310
OTHER    
Gain on sales, net 5,044 4,472
Impairment charges (5,775) (1,064)
Total other (731) 3,408
OPERATING INCOME 7,979 13,646
NON-OPERATING INCOME AND EXPENSES    
Interest expense, net (9,132) (9,101)
Loss on loan prepayment (718) 0
Total non-operating income and expenses (9,850) (9,101)
NET (LOSS) INCOME (1,871) 4,545
Preferred stock dividends (6,067) (10,295)
Deemed contributions on preferred stock 18,788 7,629
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS, Basic 10,850 1,879
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS, Diluted $ 10,850 $ 1,879
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, Basic (in dollars per share) $ 0.79 $ 0.14
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, Diluted (in dollars per share) $ 0.79 $ 0.14
Weighted average number of common shares, basic (in shares) 13,718,169 13,718,169
Weighted average number of common shares, diluted (in shares) 13,718,169 13,718,169
Rental revenues    
REVENUES    
Total revenues $ 28,456 $ 33,148
Other revenues    
REVENUES    
Total revenues $ 1,206 $ 1,400

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