v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Operating Real Estate Investments    
Land $ 371,656 $ 371,656
Buildings and improvements 1,816,938 1,812,311
Intangible lease assets 1,052 1,052
Construction in progress 5,713 8,535
Furniture, fixtures and equipment 229,950 224,661
Total Gross Operating Real Estate Investments 2,425,309 2,418,215
Accumulated depreciation and amortization (628,612) (604,321)
Total Net Operating Real Estate Investments 1,796,697 1,813,894
Cash and cash equivalents 18,465 13,704
Restricted cash 34,318 31,476
Accounts receivable, net 8,760 9,059
Prepaid and other assets 5,050 4,852
Fair market value of interest rate swaps 9,222 13,434
TOTAL ASSETS 1,872,512 1,886,419
Liabilities:    
Mortgages payable, net 1,510,401 1,469,410
Credit facility, net 55,292 88,102
Accounts payable and other accrued liabilities 11,697 11,554
Accrued real estate taxes payable 7,203 5,251
Accrued interest payable 6,701 7,053
Security deposit liability 2,885 2,980
Prepaid rents 1,181 1,170
Fair market value of interest rate swaps   475
Total Liabilities 1,595,360 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; 25,491,439 and 25,364,470 shares issued and outstanding, respectively 255 254
Additional paid-in capital 407,722 406,628
Accumulated earnings less dividends (143,850) (123,409)
Accumulated other comprehensive income 8,301 12,023
Total Stockholders' Equity 272,428 295,496
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,872,512 $ 1,886,419