v3.26.1
Operating Segments (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Profit by Reportable segment
The following table presents our reportable segments for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
Multifamily Segment
Revenues$8,433 $8,764 
Segment expenses
Property tax and insurance(3,114)(2,535)
Repairs and maintenance(920)(640)
Other property expenses(1,360)(864)
NOI from multifamily segment3,039 4,725 
Commercial Segment
Revenues3,908 3,244 
Segment expenses
Property tax and insurance(401)(624)
Repairs and maintenance(314)(274)
Other property expenses(1,224)(1,040)
NOI from commercial segment1,969 1,306 
Total NOI from reportable segments$5,008 $6,031 
Schedule of Reconciliation of NOI to Net Income
The table below reflects the reconciliation of NOI from reportable segments to net (loss) income for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
NOI from reportable segments$5,008 $6,031 
Other non-segment items of income (expense)
Depreciation and amortization(3,630)(2,883)
General and administrative(1,486)(1,492)
Advisory fee to related party(2,083)(2,469)
Interest income3,824 4,010 
Interest expense(2,968)(1,820)
Loss from unconsolidated joint ventures— (159)
Gain on sale or write down of assets, net385 3,891 
Income tax benefit (provision)434 (1,146)
Net (loss) income$(516)$3,963