​

​

​

Three Months Ended

​

Six Months Ended

​

Three Months Ended

​

Six Months Ended

(in thousands)

June 30, 2026

June 30, 2026

June 30, 2025

June 30, 2025

Total consolidated revenues

​

​

$

26,355

​

$

52,580

​

$

26,715

​

$

53,822

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciling items:

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortization of above/below market leases

​

​

(1)

​

​

(1)

​

—

​

​

—

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Real estate operating expenses

​

​

​

10,006

​

​

20,296

​

​

10,701

​

​

20,796

Real estate taxes and insurance

​

​

​

4,550

​

​

8,793

​

​

4,191

​

​

9,560

Segment NOI

​

​

$

11,798

​

$

23,490

$

11,823

$

23,466

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

Three Months Ended

​

Six Months Ended

Reconciliation to Net loss

​

​

June 30, 2026

​

June 30, 2026

​

June 30, 2025

​

June 30, 2025

Net loss

​

$

(16,605)

$

(26,132)

$

(7,876)

$

(29,311)

Add (deduct):

​

​

​

​

​

​

​

​

​

​

​

​

​

Loss on extinguishment of debt

​

​

​

—

​

​

1,267

​

​

3

​

​

5

(Gain) loss on sale of properties and impairment of assets held for sale, net

​

​

7,691

​

7,691

​

(384)

​

12,900

Depreciation and amortization

​

​

10,432

​

21,012

​

10,626

​

21,450

Amortization of above/below market leases

​

​

(1)

​

(1)

​

—

​

—

General and administrative

​

​

2,401

​

5,070

​

3,281

​

6,765

Interest expense

​

​

7,987

​

14,799

​

6,339

​

12,030

Interest income

​

​

(157)

​

(320)

​

(248)

​

(507)

Tax expense

​

​

​

50

​

​

104

​

​

82

​

134

Segment NOI

​

$

11,798

$

23,490

$

11,823

$

23,466