v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
REVENUES    
Total revenues $ 34,548,000 $ 34,632,000
EXPENSES    
Operating, maintenance and management 8,186,000 7,728,000
Real estate and other property-related taxes 5,140,000 5,425,000
Corporate general and administrative 2,304,000 3,192,000
Depreciation and amortization 8,680,000 10,918,000
Total expenses 24,310,000 27,263,000
OTHER    
Gain on sales, net 4,472,000 2,662,000
Impairment charges (1,064,000) 0
Total other 3,408,000 2,662,000
OPERATING INCOME 13,646,000 10,031,000
NON-OPERATING INCOME AND EXPENSES    
Interest expense, net (9,101,000) (8,024,000)
Total non-operating income and expenses (9,101,000) (8,024,000)
NET INCOME 4,545,000 2,007,000
Preferred stock dividends (10,295,000) (10,752,000)
Deemed contribution related to preferred stock repurchases 7,629,000 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS 1,879,000 (8,745,000)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 1,879,000 $ (8,745,000)
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (in dollars per share) $ 0.14 $ (0.64)
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (in dollars per share) $ 0.14 $ (0.64)
Weighted average number of common shares (in shares) 13,718,169 13,718,169
Weighted average number of common shares (in shares) 13,718,169 13,718,169
Rental revenues    
REVENUES    
Total revenues $ 33,148,000 $ 33,987,000
Other revenues    
REVENUES    
Total revenues $ 1,400,000 $ 645,000

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