0001786117 us-gaap:CommonStockMember 2025-04-01 2025-06-30 0001786117 us-gaap:CommonStockMember 2025-01-01 2025-06-30 0001786117 us-gaap:CommonStockMember 2024-01-01 2024-06-30 0001786117 pine:RepurchaseProgram202510MillionMember 2025-01-01 2025-06-30 0001786117 pine:RepurchaseProgram202315MillionMember 2024-01-01 2024-03-31 0001786117 pine:RepurchaseProgram202315MillionMember 2023-01-01 2023-12-31 0001786117 pine:FiveMillionRepurchaseProgram2023Member 2023-01-01 2023-12-31 0001786117 2023-01-01 2023-12-31 0001786117 srt:SubsidiariesMember pine:OperatingPartnershipMember 2025-01-01 2025-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2025-04-01 2025-06-30 0001786117 srt:MaximumMember 2023-09-27 2023-09-27 0001786117 pine:MarketEquityOfferingProgram2022Member 2022-10-21 2022-10-21 0001786117 pine:AtMarketOfferingProgramMember 2020-12-14 2020-12-14 0001786117 srt:MaximumMember 2020-12-01 2020-12-01 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2025-07-01 2025-07-01 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2025-04-01 2025-04-01 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2024-07-01 2024-07-01 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2024-04-01 2024-04-01 0001786117 srt:AffiliatedEntityMember us-gaap:PrivatePlacementMember 2025-01-01 2025-06-30 0001786117 srt:AffiliatedEntityMember us-gaap:IPOMember 2025-01-01 2025-06-30 0001786117 srt:AffiliatedEntityMember 2024-01-01 2024-12-31 0001786117 srt:AffiliatedEntityMember 2023-01-01 2023-12-31 0001786117 srt:AffiliatedEntityMember 2022-01-01 2022-12-31 0001786117 us-gaap:OverAllotmentOptionMember 2021-06-01 2021-06-30 0001786117 srt:AffiliatedEntityMember 2021-01-01 2021-12-31 0001786117 srt:AffiliatedEntityMember 2019-11-27 2019-11-27 0001786117 srt:AffiliatedEntityMember 2019-11-26 2025-06-30 0001786117 us-gaap:RetainedEarningsMember 2025-06-30 0001786117 us-gaap:ParentMember 2025-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2025-06-30 0001786117 us-gaap:CommonStockMember 2025-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-06-30 0001786117 us-gaap:RetainedEarningsMember 2025-03-31 0001786117 us-gaap:ParentMember 2025-03-31 0001786117 us-gaap:NoncontrollingInterestMember 2025-03-31 0001786117 us-gaap:CommonStockMember 2025-03-31 0001786117 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-03-31 0001786117 2025-03-31 0001786117 us-gaap:RetainedEarningsMember 2024-12-31 0001786117 us-gaap:ParentMember 2024-12-31 0001786117 us-gaap:NoncontrollingInterestMember 2024-12-31 0001786117 us-gaap:CommonStockMember 2024-12-31 0001786117 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0001786117 us-gaap:RetainedEarningsMember 2024-06-30 0001786117 us-gaap:ParentMember 2024-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2024-06-30 0001786117 us-gaap:CommonStockMember 2024-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001786117 us-gaap:RetainedEarningsMember 2024-03-31 0001786117 us-gaap:ParentMember 2024-03-31 0001786117 us-gaap:NoncontrollingInterestMember 2024-03-31 0001786117 us-gaap:CommonStockMember 2024-03-31 0001786117 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001786117 2024-03-31 0001786117 us-gaap:RetainedEarningsMember 2023-12-31 0001786117 us-gaap:ParentMember 2023-12-31 0001786117 us-gaap:NoncontrollingInterestMember 2023-12-31 0001786117 us-gaap:CommonStockMember 2023-12-31 0001786117 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001786117 srt:AffiliatedEntityMember 2024-12-31 0001786117 srt:AffiliatedEntityMember 2023-12-31 0001786117 srt:AffiliatedEntityMember 2022-12-31 0001786117 srt:AffiliatedEntityMember 2021-12-31 0001786117 pine:GreaterTampaBayFloridaMember 2024-01-01 2024-12-31 0001786117 pine:RevenueSharingAgreementMember 2025-04-01 2025-06-30 0001786117 pine:RevenueSharingAgreementMember 2025-01-01 2025-06-30 0001786117 pine:RevenueSharingAgreementMember 2024-04-01 2024-06-30 0001786117 pine:RevenueSharingAgreementMember 2024-01-01 2024-06-30 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2022-01-05 2022-01-05 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2021-04-20 2021-04-20 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2021-04-06 2021-04-06 0001786117 us-gaap:SubsequentEventMember 2025-07-02 2025-07-02 0001786117 pine:IncomePropertiesSegmentMember 2025-04-01 2025-06-30 0001786117 pine:CommercialLoanInvestmentsSegmentMember 2025-04-01 2025-06-30 0001786117 pine:IncomePropertiesSegmentMember 2025-01-01 2025-06-30 0001786117 pine:CommercialLoanInvestmentsSegmentMember 2025-01-01 2025-06-30 0001786117 pine:IncomePropertiesSegmentMember 2024-04-01 2024-06-30 0001786117 pine:CommercialLoanInvestmentsSegmentMember 2024-04-01 2024-06-30 0001786117 pine:IncomePropertiesSegmentMember 2024-01-01 2024-06-30 0001786117 pine:CommercialLoanInvestmentsSegmentMember 2024-01-01 2024-06-30 0001786117 srt:MaximumMember pine:MarketEquityOfferingProgram2022Member 2024-04-01 2024-06-30 0001786117 srt:MaximumMember pine:MarketEquityOfferingProgram2022Member 2024-01-01 2024-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-04-01 2025-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-06-30 0001786117 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-06-30 0001786117 pine:TenantImprovementsMember 2024-12-31 0001786117 srt:MaximumMember 2025-04-01 2025-06-30 0001786117 srt:MaximumMember 2025-01-01 2025-06-30 0001786117 srt:MaximumMember 2024-04-01 2024-06-30 0001786117 pine:CommercialLoansAndInvestmentsMember 2025-06-30 0001786117 pine:CreditFacilityMaturingJanuary312027Member 2022-09-30 0001786117 pine:IncomePropertiesMember 2025-04-01 2025-06-30 0001786117 pine:CommercialLoansAndInvestmentsMember 2025-01-01 2025-06-30 0001786117 pine:CommercialLoansAndInvestmentsMember 2025-01-01 2025-03-31 0001786117 pine:CommercialLoansAndInvestmentsMember 2024-04-01 2024-06-30 0001786117 pine:CommercialLoansAndInvestmentsMember 2024-01-01 2024-06-30 0001786117 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember 2025-01-01 2025-06-30 0001786117 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember 2024-01-01 2024-06-30 0001786117 us-gaap:LeasesAcquiredInPlaceMember 2025-06-30 0001786117 us-gaap:LeaseAgreementsMember 2025-06-30 0001786117 us-gaap:AboveMarketLeasesMember 2025-06-30 0001786117 us-gaap:LeasesAcquiredInPlaceMember 2024-12-31 0001786117 us-gaap:LeaseAgreementsMember 2024-12-31 0001786117 us-gaap:AboveMarketLeasesMember 2024-12-31 0001786117 pine:LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember 2025-06-30 0001786117 us-gaap:RetainedEarningsMember 2025-04-01 2025-06-30 0001786117 us-gaap:ParentMember 2025-04-01 2025-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2025-04-01 2025-06-30 0001786117 us-gaap:RetainedEarningsMember 2025-01-01 2025-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2025-01-01 2025-06-30 0001786117 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2024-04-01 2024-06-30 0001786117 us-gaap:RetainedEarningsMember 2024-01-01 2024-06-30 0001786117 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-06-30 0001786117 pine:TermLoanInterestRateSwap2026EffectiveSeptember302022Member 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2026EffectiveMay212021Member 2025-06-30 0001786117 pine:InterestRateSwap2027TermLoanEffective30September2022Matures31January2027Member 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2027Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2026Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2027Member us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2026Member us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember us-gaap:FairValueMeasurementsRecurringMember 2025-06-30 0001786117 pine:InterestRateSwap2027TermLoanEffective29November2024Matures31January2027Member 2025-06-30 0001786117 pine:CreditFacilityMaturingOnMarch12028Member 2025-06-30 0001786117 pine:CreditFacilityMaturingOnJanuary12027Member 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2027Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:TermLoanInterestRateSwap2026Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:TermLoanInterestRateSwap2027Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:TermLoanInterestRateSwap2026Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001786117 pine:TermLoanInterestRateSwap2026Member 2025-01-01 2025-06-30 0001786117 pine:InterestRateSwap2027TermLoanEffective30September2022Matures31January2027Member 2025-01-01 2025-06-30 0001786117 pine:InterestRateSwap2027TermLoanEffective29November2024Matures31January2027Member 2025-01-01 2025-06-30 0001786117 pine:CreditFacilityMaturingOnMarch12028Member 2025-01-01 2025-06-30 0001786117 pine:CreditFacilityMaturingOnJanuary12027Member 2025-01-01 2025-06-30 0001786117 pine:TermLoan2026Member 2021-05-21 2021-05-21 0001786117 pine:TermLoanInterestRateSwap2027Member 2025-06-30 0001786117 pine:TermLoanInterestRateSwap2026Member 2025-06-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2025-06-30 0001786117 pine:TermLoan2027Member 2021-09-30 0001786117 pine:TermLoan2026Member 2021-05-21 0001786117 pine:TermLoan2027Member 2025-06-30 0001786117 pine:TermLoan2026Member 2025-06-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2025-06-30 0001786117 pine:TermLoan2027Member 2024-12-31 0001786117 pine:TermLoan2026Member 2024-12-31 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2024-12-31 0001786117 srt:MinimumMember pine:TermLoan2027Member 2025-01-01 2025-06-30 0001786117 srt:MinimumMember pine:TermLoan2026Member 2025-01-01 2025-06-30 0001786117 srt:MinimumMember pine:BankOfMontrealCreditAgreementAsAmendedMember 2025-01-01 2025-06-30 0001786117 srt:MaximumMember pine:TermLoan2027Member 2025-01-01 2025-06-30 0001786117 srt:MaximumMember pine:TermLoan2026Member 2025-01-01 2025-06-30 0001786117 srt:MaximumMember pine:BankOfMontrealCreditAgreementAsAmendedMember 2025-01-01 2025-06-30 0001786117 pine:TermLoan2027Member 2025-01-01 2025-06-30 0001786117 pine:TermLoan2026Member 2025-01-01 2025-06-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2025-01-01 2025-06-30 0001786117 pine:RealEstatePortfolioLocatedAtTexasMember stpr:NJ pine:RealEstatePortfolioSquareFootageMember us-gaap:GeographicConcentrationRiskMember 2025-01-01 2025-06-30 0001786117 pine:RealEstatePortfolioLocatedAtTexasMember stpr:MI pine:RealEstatePortfolioSquareFootageMember us-gaap:GeographicConcentrationRiskMember 2025-01-01 2025-06-30 0001786117 us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-01-01 2025-06-30 0001786117 us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember pine:IncomePropertiesSegmentMember 2025-01-01 2025-06-30 0001786117 us-gaap:AssetsTotalMember us-gaap:ProductConcentrationRiskMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-01-01 2025-06-30 0001786117 us-gaap:AssetsTotalMember us-gaap:ProductConcentrationRiskMember pine:IncomePropertiesSegmentMember 2025-01-01 2025-06-30 0001786117 pine:WalgreensMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-06-30 0001786117 pine:DicksSportingGoodsMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-06-30 0001786117 pine:RealEstatePortfolioLocatedAtTexasMember stpr:NJ pine:RealEstatePortfolioSquareFootageMember us-gaap:GeographicConcentrationRiskMember 2024-01-01 2024-12-31 0001786117 pine:RealEstatePortfolioLocatedAtTexasMember stpr:MI pine:RealEstatePortfolioSquareFootageMember us-gaap:GeographicConcentrationRiskMember 2024-01-01 2024-12-31 0001786117 us-gaap:AssetsTotalMember us-gaap:ProductConcentrationRiskMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-01-01 2024-12-31 0001786117 us-gaap:AssetsTotalMember us-gaap:ProductConcentrationRiskMember pine:IncomePropertiesSegmentMember 2024-01-01 2024-12-31 0001786117 us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2024-01-01 2024-06-30 0001786117 us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember pine:IncomePropertiesSegmentMember 2024-01-01 2024-06-30 0001786117 2023-12-31 0001786117 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-06-30 0001786117 us-gaap:FairValueInputsLevel1Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-06-30 0001786117 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2024-12-31 0001786117 us-gaap:FairValueInputsLevel1Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2024-12-31 0001786117 2024-06-30 0001786117 us-gaap:LeasesAcquiredInPlaceMarketAdjustmentMember 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2025-06-30 0001786117 us-gaap:CorporateNonSegmentMember 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:OtherRevenueSegmentMember 2024-12-31 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2024-12-31 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2024-12-31 0001786117 us-gaap:CorporateNonSegmentMember 2024-12-31 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2024-01-01 2024-06-30 0001786117 us-gaap:ParentMember 2025-01-01 2025-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-06-30 0001786117 us-gaap:ParentMember 2024-04-01 2024-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001786117 us-gaap:ParentMember 2024-01-01 2024-06-30 0001786117 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-06-30 0001786117 pine:RepurchaseProgram202510MillionMember 2025-02-28 0001786117 pine:RepurchaseProgram202315MillionMember 2023-07-31 0001786117 pine:FiveMillionRepurchaseProgram2023Member 2023-05-31 0001786117 pine:WawaAndMcdonaldsAnchoredLandDevelopmentAntiochTnMember 2025-01-01 2025-06-30 0001786117 pine:WawaAnchoredLandDevelopmentProjectInMtCarmelOhMember 2025-01-01 2025-06-30 0001786117 pine:WawaAnchoredLandDevelopmentProjectInGreenwoodIndianaMember 2025-01-01 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInLongBoatKeyFlMember 2025-01-01 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInBradentonBeachFlMember 2025-01-01 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInAnnaMariaFlMember 2025-01-01 2025-06-30 0001786117 pine:RetailOutparcelsLawrencevilleGaMember 2025-01-01 2025-06-30 0001786117 pine:RetailLandDevelopmentProjectInStuartFloridaMember 2025-01-01 2025-06-30 0001786117 pine:MortgageNoteSecuredByPropertyLeasedToAtHomeInNorthCantonOhioMember 2025-01-01 2025-06-30 0001786117 pine:MortgageNoteSecuredByPortfolioOfAssetsMember 2025-01-01 2025-06-30 0001786117 pine:MortgageLoanBackedByVerizonTurnersvilleNewJerseyMember 2025-01-01 2025-06-30 0001786117 pine:MortgageLoanBackedByOldTimePotteryOrangeParkFloridaMember 2025-01-01 2025-06-30 0001786117 pine:MortgageLoanBackedByCornerstoneExchangeDaytonaBeachFloridaMember 2025-01-01 2025-06-30 0001786117 pine:LandDevelopmentProjectByPublixInCharlotteNorthCarolinaMember 2025-01-01 2025-06-30 0001786117 pine:WawaAndMcdonaldsAnchoredLandDevelopmentAntiochTnMember 2024-01-01 2024-12-31 0001786117 pine:WawaAnchoredLandDevelopmentProjectInMtCarmelOhMember 2024-01-01 2024-12-31 0001786117 pine:WawaAnchoredLandDevelopmentProjectInGreenwoodIndianaMember 2024-01-01 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInLongBoatKeyFlMember 2024-01-01 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInBradentonBeachFlMember 2024-01-01 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInAnnaMariaFlMember 2024-01-01 2024-12-31 0001786117 pine:RetailOutparcelsLawrencevilleGaMember 2024-01-01 2024-12-31 0001786117 pine:MortgageNoteSecuredByPortfolioOfAssetsMember 2024-01-01 2024-12-31 0001786117 pine:LandDevelopmentProjectByPublixInCharlotteNorthCarolinaMember 2024-01-01 2024-12-31 0001786117 pine:MortgageLoanBackedByVerizonTurnersvilleNewJerseyMember us-gaap:SubsequentEventMember 2025-07-02 0001786117 pine:LandDevelopmentProjectByPublixInCharlotteNorthCarolinaMember us-gaap:SubsequentEventMember 2025-07-02 0001786117 us-gaap:RestrictedStockMember us-gaap:ShareBasedPaymentArrangementNonemployeeMember 2025-01-01 2025-06-30 0001786117 pine:WawaAndMcdonaldsAnchoredLandDevelopmentAntiochTnMember 2025-06-30 0001786117 pine:WawaAnchoredLandDevelopmentProjectInMtCarmelOhMember 2025-06-30 0001786117 pine:WawaAnchoredLandDevelopmentProjectInGreenwoodIndianaMember 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInLongBoatKeyFlMember 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInBradentonBeachFlMember 2025-06-30 0001786117 pine:SaleAndLeasebackPropertyInAnnaMariaFlMember 2025-06-30 0001786117 pine:RetailOutparcelsLawrencevilleGaMember 2025-06-30 0001786117 pine:RetailLandDevelopmentProjectInStuartFloridaMember 2025-06-30 0001786117 pine:MortgageNoteSecuredByPropertyLeasedToAtHomeInNorthCantonOhioMember 2025-06-30 0001786117 pine:MortgageNoteSecuredByPortfolioOfAssetsMember 2025-06-30 0001786117 pine:MortgageLoanBackedByVerizonTurnersvilleNewJerseyMember 2025-06-30 0001786117 pine:MortgageLoanBackedByOldTimePotteryOrangeParkFloridaMember 2025-06-30 0001786117 pine:MortgageLoanBackedByCornerstoneExchangeDaytonaBeachFloridaMember 2025-06-30 0001786117 pine:LandDevelopmentProjectByPublixInCharlotteNorthCarolinaMember 2025-06-30 0001786117 pine:WawaAndMcdonaldsAnchoredLandDevelopmentAntiochTnMember 2024-12-31 0001786117 pine:WawaAnchoredLandDevelopmentProjectInMtCarmelOhMember 2024-12-31 0001786117 pine:WawaAnchoredLandDevelopmentProjectInGreenwoodIndianaMember 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInLongBoatKeyFlMember 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInBradentonBeachFlMember 2024-12-31 0001786117 pine:SaleAndLeasebackPropertyInAnnaMariaFlMember 2024-12-31 0001786117 pine:RetailOutparcelsLawrencevilleGaMember 2024-12-31 0001786117 pine:LandDevelopmentProjectByPublixInCharlotteNorthCarolinaMember 2024-12-31 0001786117 pine:MortgageNoteSecuredByPortfolioOfAssetsMember 2023-12-31 0001786117 srt:AffiliatedEntityMember pine:RevenueSharingAgreementMember 2024-01-01 2024-12-31 0001786117 pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2025Member 2025-06-30 0001786117 pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2024Member 2024-06-30 0001786117 pine:MarketEquityOfferingProgram2022Member 2024-04-01 2024-06-30 0001786117 pine:MarketEquityOfferingProgram2022Member 2024-01-01 2024-12-31 0001786117 pine:MarketEquityOfferingProgram2022Member 2024-01-01 2024-06-30 0001786117 pine:MarketEquityOfferingProgram2022Member 2023-01-01 2023-12-31 0001786117 pine:MarketEquityOfferingProgram2022Member 2022-01-01 2022-12-31 0001786117 pine:AtMarketOfferingProgramMember 2022-01-01 2022-12-31 0001786117 pine:AtMarketEquityOfferingProgram2020And2022ProgramMember 2022-01-01 2022-12-31 0001786117 pine:FollowOnPublicOfferingMember 2021-06-01 2021-06-30 0001786117 pine:AtMarketOfferingProgramMember 2021-01-01 2021-12-31 0001786117 srt:SubsidiariesMember srt:AffiliatedEntityMember 2025-01-01 2025-06-30 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2025-04-01 2025-06-30 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2025-01-01 2025-06-30 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2024-04-01 2024-06-30 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2024-01-01 2024-06-30 0001786117 pine:OperatingPartnershipMember srt:AffiliatedEntityMember 2025-01-01 2025-06-30 0001786117 srt:AffiliatedEntityMember 2025-01-01 2025-06-30 0001786117 pine:MortgageNoteOriginatedIn2023Member 2025-06-30 0001786117 pine:MortgageNoteOriginatedIn2023Member 2024-12-31 0001786117 pine:CommercialRealEstateSingleTenantMember 2025-06-30 0001786117 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember 2025-06-30 0001786117 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember 2024-06-30 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2022-01-05 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2021-04-06 0001786117 pine:CtoRealtyGrowthInc.AndCertainOfItsSubsidiariesMember 2021-04-02 0001786117 pine:GreaterTampaBayFloridaMember 2024-12-31 0001786117 pine:IncomePropertiesMember 2025-01-01 2025-06-30 0001786117 us-gaap:CommercialRealEstatePortfolioSegmentMember 2025-01-01 2025-06-30 0001786117 pine:WalgreensMember pine:IncomePropertiesMember 2025-03-31 2025-03-31 0001786117 pine:WalgreensMember pine:IncomePropertiesMember 2025-01-01 2025-06-30 0001786117 pine:IncomePropertiesMember 2024-04-01 2024-06-30 0001786117 pine:IncomePropertiesMember 2024-01-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2025-04-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2025-04-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember 2025-04-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2025-01-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2025-01-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember 2025-01-01 2025-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2024-04-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2024-04-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember 2024-04-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:IncomePropertiesSegmentMember 2024-01-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember pine:CommercialLoanInvestmentsSegmentMember 2024-01-01 2024-06-30 0001786117 us-gaap:OperatingSegmentsMember 2024-01-01 2024-06-30 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2019-11-26 2019-11-26 0001786117 pine:MortgageNoteSecuredByPortfolioOfAssetsMember 2024-12-31 0001786117 pine:CommercialLoansAndInvestmentsMember us-gaap:SubsequentEventMember 2025-07-02 2025-07-02 0001786117 pine:CommercialLoansAndInvestmentsMember 2024-01-01 2024-06-30 0001786117 pine:CommercialLoansAndInvestmentsMember 2025-01-01 2025-06-30 0001786117 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2025-06-30 0001786117 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2025-06-30 0001786117 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2024-12-31 0001786117 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2024-12-31 0001786117 pine:ManagementAgreementMember srt:AffiliatedEntityMember 2024-07-18 2024-07-18 0001786117 pine:CreditFacilityMaturingJanuary312027Member 2022-09-30 2022-09-30 0001786117 pine:TermLoanMember 2022-09-30 0001786117 srt:WeightedAverageMember pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2025Member 2025-01-01 2025-06-30 0001786117 srt:WeightedAverageMember pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2024Member 2024-01-01 2024-06-30 0001786117 us-gaap:MaterialReconcilingItemsMember 2025-04-01 2025-06-30 0001786117 us-gaap:MaterialReconcilingItemsMember 2025-01-01 2025-06-30 0001786117 us-gaap:MaterialReconcilingItemsMember 2024-04-01 2024-06-30 0001786117 us-gaap:MaterialReconcilingItemsMember 2024-01-01 2024-06-30 0001786117 srt:MinimumMember pine:BankOfMontrealCreditAgreementAsAmendedMember 2022-09-30 2022-09-30 0001786117 srt:MaximumMember pine:BankOfMontrealCreditAgreementAsAmendedMember 2022-09-30 2022-09-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2022-09-30 2022-09-30 0001786117 pine:BankOfMontrealCreditAgreementAsAmendedMember 2022-09-29 2022-09-29 0001786117 pine:CtoRealtyGrowthInc.Member pine:OtherTransactionMember srt:AffiliatedEntityMember 2025-06-30 0001786117 pine:CtoRealtyGrowthInc.Member pine:ManagementFeeMember srt:AffiliatedEntityMember 2025-06-30 0001786117 pine:CtoRealtyGrowthInc.Member srt:AffiliatedEntityMember 2025-06-30 0001786117 pine:CtoRealtyGrowthInc.Member pine:OtherTransactionMember srt:AffiliatedEntityMember 2024-12-31 0001786117 pine:CtoRealtyGrowthInc.Member pine:ManagementFeeMember srt:AffiliatedEntityMember 2024-12-31 0001786117 pine:CtoRealtyGrowthInc.Member srt:AffiliatedEntityMember 2024-12-31 0001786117 2024-04-01 2024-06-30 0001786117 pine:TermLoan2027Member 2022-04-14 0001786117 pine:TermLoan2026Member 2022-04-14 0001786117 pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2025Member 2025-01-01 2025-06-30 0001786117 pine:SingleTenantNetLeaseIncomePropertiesAcquiredIn2024Member 2024-01-01 2024-06-30 0001786117 2024-01-01 2024-06-30 0001786117 2024-12-31 0001786117 2025-04-01 2025-06-30 0001786117 2025-06-30 0001786117 2025-07-17 0001786117 2025-01-01 2025-06-30 pine:D iso4217:USD shares utr:sqft pine:segment shares pine:employee iso4217:USD pure pine:loan pine:lease pine:property pine:state pine:tenant

http://fasb.org/us-gaap/2025#RelatedPartyMember

0001786117 Q2 false

http://fasb.org/us-gaap/2025#PrepaidExpenseAndOtherAssets

http://www.ctlc.com/20250630#AccountsPayableAccruedExpensesAndOtherLiabilities

http://fasb.org/us-gaap/2025#PrepaidExpenseAndOtherAssets

http://fasb.org/srt/2025#ChiefExecutiveOfficerMember

0.11

http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember

http://fasb.org/us-gaap/2025#RelatedPartyMember

http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

http://www.ctlc.com/20250630#AccountsPayableAccruedExpensesAndOtherLiabilities

http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember

0.6667 0.6667 10-Q true 2025-06-30 2025 false 001-39143 ALPINE INCOME PROPERTY TRUST, INC. MD 84-2769895 369 N. New York Avenue Suite 201 Winter Park FL 32789 407 904-3324 COMMON STOCK, $0.01 PAR VALUE PINE NYSE Yes Yes Non-accelerated Filer true false false 14158190

141579000

147912000

356835000

341955000

498414000

489867000

50791000

45850000

447623000

444017000

1110000

2254000

110876000

89629000

5000000

1578000

7127000

6373000

43176000

43925000

1772000 1485000

11762000

15734000

628446000

604995000

14337000 8445000 3083000 2412000

4097000

4774000

2272000

11403000

352570000

301466000

376359000

328500000

0.01

100000000

0.01

500000000

14151914

14691982

142000

147000

253067000

261831000

-26721000

-15722000

3357000

6771000

229845000

253027000

22242000

23468000

252087000

276495000

628446000

604995000

12022000

11330000

23848000

22794000

2737000

986000

5038000

1889000

104000

174000

183000

273000

14863000

12490000

29069000

24956000

2105000 1800000 4139000 3728000

1697000

1602000

3413000

3144000

2803000

657000

4834000

688000

6705000

6352000

14012000

12734000

13310000

10411000

26398000

20294000

938000

918000

2089000

918000

2491000

2997000

4760000

5580000

47000 56000 92000 125000

-4320000

-2831000

-7912000

-5766000

-1782000

222000

-3060000

-61000

-141000

18000

-240000

-5000

-1641000

204000

-2820000

-56000

-0.12

0.01

-0.2

14202796

13624932

14414682

13623070

15426650

14848786

15638536

14846924

-1782000

222000

-3060000

-61000

-1310000

-715000

-3703000

1640000

-1310000

-715000

-3703000

1640000

-3092000

-493000

-6763000

1579000

-141000

18000

-240000

-5000

-104000

-59000

-289000

135000

-245000

-41000

-529000

130000

-2847000

-452000

-6234000

1449000

144000

257290000

-21048000

4563000

240949000

22836000

263785000

-1641000

-141000

-1782000

2000

4314000

4316000

91000

0.285

4032000

349000

4381000

-1206000

-104000

-1310000

142000

253067000

-26721000

3357000

229845000

22242000

252087000

136000

242944000

-6364000

11436000

248152000

24704000

272856000

204000

18000

222000

80000

5000

0.275

3747000

337000

4084000

-656000

-59000

-715000

136000

243019000

-9907000

10780000

244028000

24326000

268354000

147000

261831000

-15722000

6771000

253027000

23468000

276495000

-2820000

-240000

-3060000

5000

8793000

8798000

100000

71000

0.57

8179000

697000

8876000

-3414000

-289000

-3703000

142000

253067000

-26721000

3357000

229845000

22242000

252087000

137000

243690000

-2359000

9275000

250743000

24870000

275613000

-56000

-5000

-61000

1000

774000

775000

159000

56000

0.55

7492000

674000

8166000

1505000

135000

1640000

136000

243019000

-9907000

10780000

244028000

24326000

268354000

-3060000

-61000

14012000 12734000

246000

225000

394000

360000

200000 63000

2089000

918000

4834000

688000

190000

159000

362000

154000

-192000

-49000

588000

1634000

671000 588000

14924000

14791000

40339000

15946000

26820000

6384000

33098000

10315000

11856000

14263000

9131000

-43892000

-5614000

65500000

23500000

14500000

31000000

111000

15000

8798000

775000

71000

56000

8876000

8166000

33144000

-16512000

4176000

-7335000

7951000

13731000

12127000

6396000

5000000

3260000

7127000

3136000

12127000

6396000

6683000

5503000

-3703000

1640000

5000000

129

0.92

0.08

PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and other entities in which we have a controlling interest. All inter-company balances and transactions have been eliminated in the consolidated financial statements.

SEGMENT REPORTING Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) Topic 280, Segment Reporting, establishes standards related to the manner in which enterprises report operating segment information. The Company operates in two primary business segments including income properties and commercial loans and investments, as further discussed within Note 21, “Business Segment Data”. The Company has no other reportable segments. The Company’s chief executive officer, who is the Company’s chief operating decision maker (“CODM”), reviews financial information on a disaggregated basis for purposes of allocating and evaluating financial performance.

USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period presented. Actual results could differ from those estimates.Among other factors, fluctuating market conditions that can exist in the national real estate markets and the volatility and uncertainty in the financial and credit markets make it possible that the estimates and assumptions, most notably those related to PINE’s investment in properties, could change materially due to continued volatility in the real estate and financial markets, or as a result of a significant dislocation in those markets.

REAL ESTATEThe Company’s real estate assets are comprised of the properties in its portfolio, and are stated at cost, less accumulated depreciation and amortization. Such properties are depreciated on a straight-line basis over their estimated useful lives. Renewals and betterments are capitalized to the applicable property accounts. The cost of maintenance and repairs is expensed as incurred. The cost of property retired or otherwise disposed of, and the related accumulated depreciation or amortization, are removed from the accounts, and any resulting gain or loss is recorded in the statement of operations. The amount of depreciation of real estate, exclusive of amortization related to intangible assets, recognized for the three months ended June 30, 2025 and 2024, was $4.6 million and $4.2 million, respectively. The amount of depreciation of real estate, exclusive of amortization related to intangible assets, recognized for the six months ended June 30, 2025 and 2024, was $9.4 million and $8.4 million, respectively.

4600000

4200000

9400000

8400000

LONG-LIVED ASSETS The Company follows FASB ASC Topic 360-10, Property, Plant, and Equipment, in conducting its impairment analyses. The Company reviews the recoverability of long-lived assets, primarily real estate, and real estate held for sale, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Examples of situations considered to be triggering events include: a substantial decline in operating cash flows during the period, a current or projected loss from operations, a property not fully leased or leased at rates that are less than current market rates, and any other quantitative or qualitative events deemed significant by management. Long-lived assets are evaluated for impairment by using an undiscounted cash flow approach, which considers future estimated capital expenditures. Impairment of long-lived assets is measured at the difference of carrying value and fair value less cost to sell.

PURCHASE ACCOUNTING FOR ACQUISITIONS OF REAL ESTATE SUBJECT TO A LEASE Investments in real estate are carried at cost less accumulated depreciation and impairment losses, if any. The cost of investments in real estate reflects their purchase price or development cost. We evaluate each acquisition transaction to determine whether the acquired asset meets the definition of a business. Under Accounting Standards Update (“ASU”) 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, an acquisition does not qualify as a business when there is no substantive process acquired or substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets or the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. Transaction costs related to acquisitions that are asset acquisitions are capitalized as part of the cost basis of the acquired assets, while transaction costs for acquisitions that are deemed to be acquisitions of a business are expensed as incurred. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred.In accordance with FASB guidance, the fair value of the real estate acquired with in-place leases is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs, based in each case on their relative fair values. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded as other assets or liabilities based on the present value. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. The capitalized below-market lease values are amortized as an increase to rental income over the initial term unless management believes the lease includes bargain renewal options that are likely to be exercised, in which case the Company includes such renewal periods in the amortization period utilized. The Company considers both qualitative and quantitative factors in considering if a lease contains a bargain renewal option and the likelihood of a tenant exercising such option. The value of in-place leases and leasing costs are amortized to expense over the remaining non-cancelable periods of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be written off.ASSETS HELD FOR SALEInvestments in real estate which are determined to be “held for sale” pursuant to FASB Topic 360-10, Property, Plant, and Equipment are reported separately on the consolidated balance sheets at the lesser of carrying value or fair value, less costs to sell. Real estate investments classified as held for sale are not depreciated. SALES OF REAL ESTATEWhen properties are disposed of, the related cost basis of the real estate, intangible lease assets, and intangible lease liabilities, net of accumulated depreciation and/or amortization, and any accrued straight-line rental income balance for the underlying operating leases are removed, and gains or losses from the dispositions are reflected in net income within gains on dispositions of assets. In accordance with the FASB guidance, gains or losses on sales of real estate are generally recognized using the full accrual method.

PROPERTY LEASE REVENUE The rental arrangements associated with the Company’s property portfolio are classified as operating leases. The Company recognizes lease income on these properties on a straight-line basis over the term of the lease. Accordingly, contractual lease payment increases are recognized evenly over the term of the lease. The periodic difference between lease income recognized under this method and contractual lease payment terms (i.e., straight-line rent) is recorded as a deferred operating lease receivable and is included in straight-line rent adjustment on the accompanying consolidated balance sheets. The Company’s leases provide for reimbursement from tenants for variable lease payments including common area maintenance, insurance, real estate taxes and other operating expenses. A portion of our variable lease payment revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued.The collectability of tenant receivables and straight-line rent adjustments is determined based on, among other things, the aging of the tenant receivable, management’s evaluation of credit risk associated with the tenant and industry of the tenant, and a review of specifically identified accounts using judgment. As of June 30, 2025 and December 31, 2024, the Company’s allowance for doubtful accounts totaled $0.5 million and $0.3 million, respectively.

500000

300000

COMMERCIAL LOANS AND INVESTMENTSInvestments in commercial loans and investments held for investment are recorded at historical cost, net of unaccreted origination costs and current expected credit losses (“CECL”) reserve. Pursuant to ASC 326, Financial Instruments - Credit Losses, the Company measures and records a provision for CECL each time a new investment is made, or a loan is repaid, as well as if changes to estimates occur during a quarterly measurement period. We are unable to use historical data to estimate expected credit losses as we have incurred no losses to date. Management utilizes a loss-rate method and considers macroeconomic factors to estimate its CECL allowance, which is calculated based on the amortized cost basis of the commercial loans.Sales of participations in commercial loans and investments are evaluated for achievement of the characteristics of participating interest pursuant to ASC 860, Transfers and Servicing. If the sale of a participation has all of the characteristics of a participating interest, it achieves sale accounting, and the commercial loan or investment is presented net of the participating interest. If the sale of a participation does not have all of the characteristics of a participating interest, it does not achieve sale accounting and is treated as a secured borrowing. As of June 30, 2025, the Company’s participation in commercial loans and investments purchased by a third-party did not achieve sale accounting and has been presented as an Obligation under Participation Agreement within the liabilities portion of the Company’s consolidated balance sheets.

RECOGNITION OF INTEREST INCOME FROM COMMERCIAL LOANS AND INVESTMENTSInterest income on commercial loans and investments includes interest payments made by the borrower and the accretion of loan origination fees, offset by the amortization of loan costs, if any. Interest payments are accrued based on the actual coupon rate and the outstanding principal balance and purchase discounts and loan origination fees are accreted into income using the effective yield method, adjusted for prepayments. OPERATING LAND LEASE EXPENSEThe Company is the lessee under operating land leases for certain of its properties, which leases are classified as operating leases pursuant to FASB ASC Topic 842, Leases. The corresponding lease expense is recognized on a straight-line basis over the term of the lease and is included in real estate expenses in the accompanying consolidated statements of operations.

RESTRICTED CASHRestricted cash totaled $7.1 million as of June 30, 2025, of which $4.3 million is being held in three escrow accounts to be reinvested through the like-kind exchange structure into other income properties and $2.8 million is being held in interest, real estate tax, insurance, and/or capital expenditure reserve accounts related to the Company’s portfolio of commercial loans and investments.

7100000

4300000 2800000

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITYThe Company accounts for its cash flow hedging derivatives in accordance with FASB ASC Topic 815-20, Derivatives and Hedging. Depending upon the hedge’s value at each balance sheet date, the derivatives are included in either other assets or accounts payable, accrued expenses, and other liabilities on the accompanying consolidated balance sheet at its fair value. On the date each interest rate swap was entered into, the Company designated the derivatives as a hedge of the variability of cash flows to be paid related to the recognized long-term debt liabilities. The Company documented the relationship between the hedging instruments and the hedged item, as well as its risk-management objective and strategy for undertaking the hedge transactions. At the hedges’ inception, the Company assessed whether the derivatives that are used in hedging the transactions are highly effective in offsetting changes in cash flows of the hedged items and will continue to do so on a quarterly basis. Changes in fair value of the hedging instruments that are highly effective and designated and qualified as cash-flow hedges are recorded in other comprehensive income and loss, until earnings are affected by the variability in cash flows of the designated hedged items (see Note 14, “Interest Rate Swaps”).

FAIR VALUE OF FINANCIAL INSTRUMENTSThe carrying amounts of the Company’s financial assets and liabilities including cash and cash equivalents, restricted cash, accounts receivable included in other assets, accounts payable, and accrued expenses and other liabilities at June 30, 2025 and December 31, 2024, approximate fair value because of the short maturity of these instruments. The carrying value of the Credit Facility, hereinafter defined, approximates current market rates for revolving credit arrangements with similar risks and maturities. The Company estimates the fair value of its commercial loans and investments and term loans based on incremental borrowing rates for similar types of borrowing arrangements with the same remaining maturity and on the discounted estimated future cash payments to be made for other debt. The discount rate used to calculate the fair value of debt approximates current lending rates for loans and assumes the debt is outstanding through maturity. Since such amounts are estimates that are based on limited available market information for similar transactions, which is a Level 2 non-recurring measurement, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument.

FAIR VALUE MEASUREMENTS The Company’s estimates of fair value of financial and non-financial assets and liabilities is based on the framework established by GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. GAAP describes a fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable. The following describes the three levels:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.15;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 1 – Valuation is based upon quoted prices in active markets for identical assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.15;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 2 – Valuation is based upon inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.15;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include option pricing models, discounted cash flow models and similar techniques.</td></tr></table>

EARNINGS PER COMMON SHAREBasic earnings per common share is computed by dividing net income attributable to the Company for the period by the weighted average number of shares outstanding for the period. Diluted earnings per common share is based on the assumption that the OP Units issued are redeemed for shares of our common stock on a one-for-one basis.

INCOME TAXESThe Company has elected to be taxed as a REIT for U.S. federal income tax purposes under the Code. We believe the Company has been organized and has operated in such a manner as to qualify for taxation as a REIT under the U.S. federal income tax laws. The Company intends to continue to operate in such a manner. As a REIT, the Company will be subject to U.S. federal and state income taxation at corporate rates on its net taxable income; the Company, however, may claim a deduction for the amount of dividends paid to its stockholders. Amounts distributed as dividends by the Company will be subject to taxation at the stockholder level only. While the Company must distribute at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding any net capital gain, to qualify as a REIT, the Company intends to distribute all of its net taxable income. The Company is allowed certain other non-cash deductions or adjustments, such as depreciation expense, when computing its REIT taxable income and distribution requirement. These deductions permit the Company to reduce its dividend payout requirement under U.S. federal income tax laws. Certain states may impose minimum franchise taxes. The Company may form one or more taxable REIT subsidiaries (“TRSs”), which will be subject to applicable U.S. federal, state and local corporate income tax on their taxable income. For the periods presented, the Company did not have any TRSs that would be subject to taxation.

CONCENTRATION OF CREDIT RISK Certain individual tenants in the Company’s portfolio of properties accounted for more than 10% of lease income from the Company’s income properties during the six months ended June 30, 2025 and 2024. During the six months ended June 30, 2025, Dick’s Sporting Goods accounted for 12% of lease income revenue. During the six months ended June 30, 2024, Walgreens accounted for 11% of lease income revenue. As of June 30, 2025, 10% and 11% of the Company’s income property portfolio, based on square footage, was located in the states of New Jersey and Michigan, respectively. As of December 31, 2024, 11% of the Company’s income property portfolio, based on square footage, was located in each of the states of New Jersey and Michigan.

0.12

0.11

0.10

0.11

129

3900000

The components of leasing revenue are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:34.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended </td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;width:34.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;background:#cceeff;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.73%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;margin:0pt;padding:0pt;">Lease Payments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.61%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;margin:0pt;padding:0pt;"> 10,615</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;margin:0pt;padding:0pt;"> 9,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.75%;margin:0pt;padding:0pt;"> 20,815</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.73%;margin:0pt;padding:0pt;"> 19,764</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;background:#cceeff;margin:0pt;padding:0pt;">Variable Lease Payments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,407</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,428</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,033</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,030</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:27.3%;margin:0pt;padding:0pt;">Total Lease Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.61%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 11,330</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 23,848</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 22,794</td></tr></table>

10615000

9902000

20815000

19764000

1407000

1428000

3033000

3030000

12022000

11330000

23848000

22794000

Minimum Future Rental Receipts. Minimum future rental receipts under non-cancelable operating leases, excluding percentage rent and other lease payments that are not fixed and determinable, having remaining terms in excess of one year subsequent to June 30, 2025, are summarized as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:70.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:70.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:26.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amounts </td></tr><tr><td style="vertical-align:top;width:70.37%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 20,447</td></tr><tr><td style="vertical-align:top;width:70.37%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 40,159</td></tr><tr><td style="vertical-align:top;width:70.37%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 37,025</td></tr><tr><td style="vertical-align:top;width:70.37%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 32,687</td></tr><tr><td style="vertical-align:top;width:70.37%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 28,227</td></tr><tr><td style="vertical-align:top;width:70.37%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 24,791</td></tr><tr><td style="vertical-align:top;width:70.37%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter (Cumulative)</td><td style="vertical-align:middle;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 106,553</td></tr><tr><td style="vertical-align:top;width:70.37%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.08%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 289,889</td></tr></table>

20447000

40159000

37025000

32687000

28227000

24791000

106553000

289889000

39700000 39900000 3 3 P14Y3M18D

4700000

28800000

6400000

P14Y1M6D 8

28200000

2100000

15600000 15700000 2 3 P4Y6M

5000000

10200000

1400000

900000

P4Y7M6D 2

6600000

900000

NOTE 4. COMMERCIAL LOANS AND INVESTMENTS2025 Activity. During the six months ended June 30, 2025, the Company originated four commercial loans for an investment volume of $28.4 million at a weighted average initial cash yield of 9.7% and one, $2.0 million short-term mortgage note with an initial cash yield of 16.5%, that was repaid in full on July 2, 2025. Additionally, during the six months ended June 30, 2025, the Company amended four existing commercial loan investments whereby certain maturity dates were extended and two loan investments total face amounts were upsized by an aggregate of $17.8 million. In the aggregate, during the six months ended June 30, 2025, commercial loan and investment volume totaled $48.2 million, of which $32.2 million was funded during the same period. Additionally, the Company funded $0.9 million for existing construction loans and received $11.9 million of principal repayments from borrowers during the six months ended June 30, 2025.2024 Activity. During the six months ended June 30, 2024, the Company originated two commercial loans for an investment volume of $13.3 million at a weighted average initial cash yield of 11.4%. During the six months ended June 30, 2024, the Company disbursed a total of $10.3 million to borrowers and received $14.3 million of principal repayments from borrowers.Other Activity. During the year ended December 31, 2024, the Company acquired three single-tenant income properties (the “Tampa Properties”) in the greater Tampa Bay, Florida area, which acquisition was structured as a sale-leaseback transaction whereby the Company entered into three new 30-year lease agreements which include annual base rent escalations and a repurchase right by the tenant upon completion of the fifth lease year, i.e., on August 1, 2029. Pursuant to FASB ASC Topic 842, Leases, the future repurchase rights present in the lease agreements preclude the transaction from being accounted for as a real estate acquisition. Accordingly, for GAAP purposes, the acquisition of the Tampa Properties is accounted for as a financing arrangement, and the related assets and corresponding revenue are included in the Company’s commercial loans and investments on its consolidated balance sheets and consolidated statements of operations. The Company has imputed interest on the 30-year leases which is recognized as interest income from commercial loans and investments on the accompanying consolidated statements of operations. During the year ended December 31, 2023, the Company originated a $24.0 million first mortgage secured by a portfolio of assets and related improvements (the “Mortgage Note”). The Mortgage Note is being repaid by the borrower as the underlying assets within the portfolio are sold. During the year ended December 31, 2024, the Company sold a $13.6 million A-1 participation interest (the “Loan Participation Sale”) in its Mortgage Note, which is entitled to an 8.0% yield on its respective portion of the outstanding principal balance and has priority preference with respect to all principal and interest payments of the Mortgage Note. This sale did not achieve sale accounting pursuant to ASC 860, Transfers and Servicing, and accordingly, is treated as a secured borrowing. See Note 12, “Obligation Under Participation Agreement” for further information. As of June 30, 2025, after adjusting for the Loan Participation Sale, the Company’s remaining investment in the Mortgage Note is $9.7 million. The Company’s commercial loans and investments were comprised of the following at June 30, 2025 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:30.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Greenwood, IN</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">July 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">July 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 14,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 7,378</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 7,385</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.25%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Antioch, TN</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">October 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">October 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,825</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,711</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,706</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Portfolio</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">November 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">November 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 24,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 12,009</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 11,954</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Construction Loan – Retail Outparcels – Lawrenceville, GA</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">January 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 7,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 3,974</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">11.25%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Mount Carmel, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">June 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">September 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,116</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">11.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Sale-Leaseback - Bradenton Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,608</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,554</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,554</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Sale-Leaseback - Anna Maria, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,315</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,315</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Sale-Leaseback - Long Boat Key, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,377</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,377</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Publix Land Development – Charlotte, NC</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">September 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">September 2025 (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 28,600</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 25,506</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 25,469</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – At Home Plaza - North Canton, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">March 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">March 2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.65%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Retail Land Development – Stuart, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">March 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">March 2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 15,500</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,441</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,306</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – Cornerstone Exchange – Daytona Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">May 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">May 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,623</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">12.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Verizon – Turnersville, NJ</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">June 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">June 2025 (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">16.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – Old Time Pottery – Orange Park, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">June 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">June 2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 149,322</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 112,264</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 111,979</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:30.96%;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,103)</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 110,876</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">The maturity date reflects the date the tenant’s repurchase right first becomes exercisable pursuant to the lease agreement.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">See Note 22, “Subsequent Events” for details on principal repayments made by the respective borrowers.</td></tr></table>The Company’s commercial loans and investments were comprised of the following at December 31, 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:31.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Greenwood, IN</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">July 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">July 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 7,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 7,149</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 7,138</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.25%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Antioch, TN</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">October 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">October 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 6,825</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 4,694</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 4,673</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Portfolio</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">November 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">November 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 24,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 21,140</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 21,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.00%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Construction Loan – Retail Outparcels – Lawrenceville, GA</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">January 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 7,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 6,618</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 6,569</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">11.25%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Mount Carmel, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">June 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 5,196</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 5,162</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">11.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Sale-Leaseback - Bradenton Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 9,608</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 9,586</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 9,586</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Sale-Leaseback - Anna Maria, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 16,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 16,371</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 16,371</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Sale-Leaseback - Long Boat Key, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 5,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 5,396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 5,396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Publix Land Development – Charlotte, NC</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 17,760</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,640</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,576</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 101,136</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 90,790</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 90,537</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (908)</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:31.21%;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 89,629</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">The maturity date reflects the date the tenant’s repurchase right first becomes exercisable pursuant to the lease agreement.</td></tr></table>The carrying value of the commercial loans and investments consisted of the following at June 30, 2025 and December 31, 2024 (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:middle;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;margin:0pt;padding:0pt;"> 112,264</td><td style="vertical-align:middle;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;margin:0pt;padding:0pt;"> 90,790</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;">Unaccreted Origination Fees</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"> (285)</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"> (253)</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;background:#cceeff;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,103)</td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (908)</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 110,876</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 89,629</td></tr></table> 4 28400000 0.097 1 2000000 0.165 4 2 17800000 48200000 32200000 900000

11900000

2 13300000 0.114

10300000

14300000

P30Y

24000000 13600000

0.08

9700000

The Company’s commercial loans and investments were comprised of the following at June 30, 2025 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:30.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Greenwood, IN</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">July 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">July 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 14,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 7,378</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 7,385</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.25%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Antioch, TN</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">October 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">October 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,825</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,711</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,706</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Portfolio</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">November 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">November 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 24,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 12,009</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 11,954</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Construction Loan – Retail Outparcels – Lawrenceville, GA</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">January 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 7,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 3,974</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">11.25%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Mount Carmel, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">June 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">September 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,116</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">11.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Sale-Leaseback - Bradenton Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,608</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,554</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 9,554</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Sale-Leaseback - Anna Maria, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,315</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 16,315</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Sale-Leaseback - Long Boat Key, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,377</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 5,377</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Publix Land Development – Charlotte, NC</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">September 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">September 2025 (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 28,600</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 25,506</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 25,469</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – At Home Plaza - North Canton, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">March 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">March 2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 6,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.65%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Retail Land Development – Stuart, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">March 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">March 2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 15,500</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,441</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 6,306</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – Cornerstone Exchange – Daytona Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">May 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">May 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,646</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"> 2,623</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">12.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Verizon – Turnersville, NJ</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">June 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;">June 2025 (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 2,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;">16.50%</td></tr><tr><td style="vertical-align:middle;width:30.96%;margin:0pt;padding:0pt;">Mortgage Note – Old Time Pottery – Orange Park, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">June 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;">June 2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;">8.00%</td></tr><tr><td style="vertical-align:middle;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 149,322</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 112,264</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"> 111,979</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:30.96%;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,103)</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:30.96%;background:#cceeff;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:13.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 110,876</td><td style="vertical-align:middle;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">The maturity date reflects the date the tenant’s repurchase right first becomes exercisable pursuant to the lease agreement.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">See Note 22, “Subsequent Events” for details on principal repayments made by the respective borrowers.</td></tr></table>The Company’s commercial loans and investments were comprised of the following at December 31, 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:31.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:8.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Greenwood, IN</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">July 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">July 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 7,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 7,149</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 7,138</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.25%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Antioch, TN</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">October 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">October 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 6,825</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 4,694</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 4,673</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – Portfolio</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">November 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">November 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 24,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 21,140</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 21,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.00%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Construction Loan – Retail Outparcels – Lawrenceville, GA</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">January 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 7,200</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 6,618</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 6,569</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">11.25%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Wawa Land Development – Mount Carmel, OH</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">June 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 6,127</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 5,196</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 5,162</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">11.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Sale-Leaseback - Bradenton Beach, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 9,608</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 9,586</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 9,586</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Sale-Leaseback - Anna Maria, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 16,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"> 16,371</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;margin:0pt;padding:0pt;"> 16,371</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;">Sale-Leaseback - Long Boat Key, FL</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">August 2029 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 5,408</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"> 5,396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 5,396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;">8.30%</td></tr><tr><td style="vertical-align:middle;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">Construction Loan – Publix Land Development – Charlotte, NC</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;">September 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 17,760</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,640</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,576</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;">9.50%</td></tr><tr><td style="vertical-align:middle;width:31.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 101,136</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 90,790</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;margin:0pt;padding:0pt;"> 90,537</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:31.21%;background:#cceeff;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (908)</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:31.21%;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:7.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:7.51%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 89,629</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:9.84%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">The maturity date reflects the date the tenant’s repurchase right first becomes exercisable pursuant to the lease agreement.</td></tr></table>

14800000 7378000

7385000

0.0925 6825000 4711000

4706000

0.095 24000000 12009000

11954000

0.09 7200000 4000000

3974000

0.1125 6127000 6127000

6116000

0.115 9608000 9554000

9554000

0.083 16408000 16315000

16315000

0.083 5408000 5377000

5377000

0.083 28600000 25506000

25469000

0.095 6200000 6200000

6200000

0.0865 15500000 6441000

6306000

0.10 2646000 2646000

2623000

0.125 2000000 2000000

2000000

0.165 4000000 4000000

4000000

0.08 149322000 112264000

111979000

1103000

110876000

7800000 7149000

7138000

0.0925 6825000 4694000

4673000

0.095 24000000 21140000

21066000

0.09 7200000 6618000

6569000

0.1125 6127000 5196000

5162000

0.115 9608000 9586000

9586000

0.083 16408000 16371000

16371000

0.083 5408000 5396000

5396000

0.083 17760000 14640000

14576000

0.095 101136000 90790000

90537000

908000

89629000

The carrying value of the commercial loans and investments consisted of the following at June 30, 2025 and December 31, 2024 (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.36%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:middle;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;margin:0pt;padding:0pt;"> 112,264</td><td style="vertical-align:middle;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;margin:0pt;padding:0pt;"> 90,790</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;">Unaccreted Origination Fees</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"> (285)</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;margin:0pt;padding:0pt;"> (253)</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;background:#cceeff;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,103)</td><td style="vertical-align:middle;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.66%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (908)</td></tr><tr><td style="vertical-align:middle;white-space:nowrap;width:59.57%;margin:0pt;padding:0pt;">Total Commercial Loans and Investments</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 110,876</td><td style="vertical-align:middle;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.66%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 89,629</td></tr></table>

112264000 90790000

-285000

-253000

1103000 908000

110876000

89629000

The following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheets at June 30, 2025 and December 31, 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:35.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:35.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:30.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:30.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:35.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td></tr><tr><td style="vertical-align:top;width:35.3%;background:#cceeff;margin:0pt;padding:0pt;">Cash and Cash Equivalents - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 5,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 5,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 1,578</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 1,578</td></tr><tr><td style="vertical-align:top;width:35.3%;margin:0pt;padding:0pt;">Restricted Cash - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"> 7,127</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"> 7,127</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"> 6,373</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"> 6,373</td></tr><tr><td style="vertical-align:top;width:35.3%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loans and Investments - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 110,876</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 118,002</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 89,629</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 98,830</td></tr><tr><td style="vertical-align:top;width:35.3%;margin:0pt;padding:0pt;">Obligation Under Participation Agreement - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"> 2,272</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;margin:0pt;padding:0pt;"> 2,299</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"> 11,403</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;margin:0pt;padding:0pt;"> 11,558</td></tr><tr><td style="vertical-align:top;width:35.3%;background:#cceeff;margin:0pt;padding:0pt;">Long-Term Debt - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 352,570</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.74%;background:#cceeff;margin:0pt;padding:0pt;"> 348,292</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.35%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 301,466</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.75%;background:#cceeff;margin:0pt;padding:0pt;"> 294,808</td></tr></table>

5000000

1578000

7127000

6373000

110876000

118002000

89629000

98830000

2272000 2299000 11403000 11558000

352570000

348292000

301466000

294808000

The following tables present the fair value of assets measured on a recurring basis by level as of June 30, 2025 and December 31, 2024 (in thousands). See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:35.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:46.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value at Reporting Date Using</td></tr><tr><td style="vertical-align:bottom;width:35.34%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Other Observable Inputs (Level 2)</td><td style="vertical-align:bottom;width:1.95%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Unobservable Inputs (Level 3)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;background:#cceeff;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;margin:0pt;padding:0pt;">2026 Term Loan Interest Rate Swap (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 1,653</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 1,653</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan Interest Rate Swap (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2,429</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2,429</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;">—</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;margin:0pt;padding:0pt;">Credit Facility Interest Rate Swap (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 303</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 303</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;margin:0pt;padding:0pt;">2026 Term Loan Interest Rate Swap </td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 2,811</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 2,811</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan Interest Rate Swap</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"> 4,090</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;"> 4,090</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;background:#cceeff;margin:0pt;padding:0pt;">—</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.34%;margin:0pt;padding:0pt;">Credit Facility Interest Rate Swap</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 1,186</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;"> 1,186</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.79%;margin:0pt;padding:0pt;">—</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100.0 million 2026 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100.0 million 2027 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 3.32% plus 0.10% and the applicable spread on $100.0 million of the outstanding balance on the Credit Facility (hereinafter defined). See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps. </td></tr></table>

1653000

2429000

303000

2811000

4090000

1186000

0.0205

0.001

100000000

0.0205

0.001

100000000

0.0332

0.001

100000000

NOTE 6. INTANGIBLE ASSETS AND LIABILITIESIntangible assets and liabilities consist of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs. Intangible assets and liabilities consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of </td></tr><tr><td style="vertical-align:bottom;width:59.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Assets:</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Value of In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> 49,640</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"> 48,768</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Value of Above Market In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 1,643</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"> 2,142</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Value of Intangible Leasing Costs</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,727</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,091</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 71,010</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"> 70,001</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,834)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (26,076)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets—Net</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,176</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,925</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Intangible Lease Liabilities:</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Value of Below Market In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,607)</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,986)</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> (6,607)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"> (6,986)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,510</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,212</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,097)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,774)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Intangible Assets and Liabilities—Net</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,079</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,151</td></tr></table>The following table reflects the net amortization of intangible assets and liabilities during the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:39.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:28.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:39.32%;background:#cceeff;margin:0pt;padding:0pt;">Amortization Expense </td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;margin:0pt;padding:0pt;"> 2,077</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;margin:0pt;padding:0pt;"> 2,119</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;background:#cceeff;margin:0pt;padding:0pt;"> 4,596</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> 4,284</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;">Accretion to Properties Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (166)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (115)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (246)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (225)</td></tr><tr><td style="vertical-align:top;width:39.32%;background:#cceeff;margin:0pt;padding:0pt;">Net Amortization of Intangible Assets and Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,911</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,004</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,350</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,059</td></tr></table>The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:34.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Amortization Expense</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Accretion to Property Revenue </td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Future Amortization of Intangible Assets and Liabilities </td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,129</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (356)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 3,773</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 7,964</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (724)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 7,240</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 6,704</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (715)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 5,989</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 5,200</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (480)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 4,720</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,503</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (324)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,179</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 3,824</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (212)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 3,612</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,722</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (156)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,566</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 42,046</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2,967)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,079</td></tr></table>As of June 30, 2025, the weighted average amortization period of both the total intangible assets and liabilities was 9.1 years.

Intangible assets and liabilities consist of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs. Intangible assets and liabilities consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of </td></tr><tr><td style="vertical-align:bottom;width:59.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.14%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Assets:</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Value of In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> 49,640</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"> 48,768</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Value of Above Market In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 1,643</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"> 2,142</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Value of Intangible Leasing Costs</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,727</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,091</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 71,010</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;margin:0pt;padding:0pt;"> 70,001</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,834)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (26,076)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets—Net</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,176</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 43,925</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Intangible Lease Liabilities:</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Value of Below Market In-Place Leases</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,607)</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,986)</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> (6,607)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;margin:0pt;padding:0pt;"> (6,986)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,510</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,212</td></tr><tr><td style="vertical-align:top;width:59.77%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,097)</td><td style="vertical-align:bottom;width:2.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,774)</td></tr><tr><td style="vertical-align:top;width:59.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Intangible Assets and Liabilities—Net</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,079</td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,151</td></tr></table>

49640000

48768000

1643000

2142000

19727000

19091000

71010000

70001000

27834000

26076000

43176000

43925000

6607000

6986000

6607000 6986000

2510000

2212000

4097000

4774000

39079000 39151000 The following table reflects the net amortization of intangible assets and liabilities during the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:39.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:28.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:39.32%;background:#cceeff;margin:0pt;padding:0pt;">Amortization Expense </td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;margin:0pt;padding:0pt;"> 2,077</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;margin:0pt;padding:0pt;"> 2,119</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;background:#cceeff;margin:0pt;padding:0pt;"> 4,596</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> 4,284</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:39.32%;margin:0pt;padding:0pt;">Accretion to Properties Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (166)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (115)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (246)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (225)</td></tr><tr><td style="vertical-align:top;width:39.32%;background:#cceeff;margin:0pt;padding:0pt;">Net Amortization of Intangible Assets and Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,911</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.66%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,004</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,350</td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,059</td></tr></table>

2077000

2119000

4596000

4284000

166000

115000

246000

225000

1911000 2004000 4350000 4059000 The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:34.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Amortization Expense</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Accretion to Property Revenue </td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Future Amortization of Intangible Assets and Liabilities </td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,129</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (356)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 3,773</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 7,964</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (724)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 7,240</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 6,704</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (715)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 5,989</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 5,200</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (480)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 4,720</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,503</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> (324)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;margin:0pt;padding:0pt;"> 4,179</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 3,824</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> (212)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;margin:0pt;padding:0pt;"> 3,612</td></tr><tr><td style="vertical-align:top;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:top;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,722</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (156)</td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,566</td></tr><tr><td style="vertical-align:top;width:34.04%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:top;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 42,046</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2,967)</td><td style="vertical-align:bottom;width:2.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,079</td></tr></table>

4129000

356000

3773000

7964000

724000

7240000

6704000

715000

5989000

5200000

480000

4720000

4503000

324000

4179000

3824000

212000

3612000

9722000

156000

9566000

42046000

2967000

39079000

P9Y1M6D

2800000

4600000

3 2 2

600000

3 3

600000

200000

100000

Other assets consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:34.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Receivables—Net of Allowance for Doubtful Accounts (1)</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;background:#cceeff;margin:0pt;padding:0pt;"> 1,373</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,517</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;">Prepaid Insurance </td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;margin:0pt;padding:0pt;"> 409</td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 1,042</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid Expenses, Deposits, and Other</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;background:#cceeff;margin:0pt;padding:0pt;"> 1,699</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,042</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;">Deferred Financing Costs—Net</td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;margin:0pt;padding:0pt;"> 671</td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 850</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;background:#cceeff;margin:0pt;padding:0pt;">Interest Rate Swaps</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;background:#cceeff;margin:0pt;padding:0pt;"> 4,496</td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 8,087</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;margin:0pt;padding:0pt;">Operating Leases - Right-of-Use Asset (2)</td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,114</td><td style="vertical-align:bottom;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,196</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.38%;background:#cceeff;margin:0pt;padding:0pt;">Total Other Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.91%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 11,762</td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,734</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Includes a $0.5 million and $0.3 million allowance for doubtful accounts as of June 30, 2025 and December 31, 2024, respectively.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">See Note 9, “Operating Land Leases” for further disclosure related to the Company’s right-of-use asset balance as of June 30, 2025.</td></tr></table>

1373000 1517000

409000

1042000

1699000 1042000 671000 850000

4496000

8087000

3114000

3196000

11762000

15734000

500000

300000

NOTE 9. OPERATING LAND LEASESThe Company is the lessee under operating land leases for certain of its properties. FASB ASC Topic 842, Leases, requires a lessee to recognize right-of-use assets and lease liabilities that arise from leases, whether qualifying as an operating or finance lease. As of June 30, 2025 and December 31, 2024, the Company’s right-of-use assets totaled $3.1 million and $3.2 million, respectively, and the corresponding lease liabilities totaled $3.2 million, which balances are reflected within other assets and accounts payable, accrued expenses, and other liabilities, respectively, on the consolidated balance sheets. The right-of-use assets and lease liabilities are measured based on the present value of the lease payments utilizing discount rates estimated to be equal to that which the Company would pay to borrow on a collateralized basis over a similar term, for an amount equal to the lease payments, in a similar economic environment. The Company’s operating land leases do not include variable lease payments and generally provide renewal options, at the Company’s election, to extend the terms of the respective leases. Renewal option periods are included in the calculation of the right-of-use assets and corresponding lease liabilities when it is reasonably certain that the Company, as lessee, will exercise the option to extend the lease. Amortization of right-of-use assets for operating land leases is recognized on a straight-line basis over the term of the lease and is included within real estate expenses in the consolidated statements of operations. Amortization totaled less than $0.1 million during each of the three and six months ended June 30, 2025, and less than $0.1 million and $0.1 million during the three and six month periods ended June 30, 2024, respectively. The following table reflects a summary of operating land leases, under which the Company is the lessee, for the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;background:#cceeff;margin:0pt;padding:0pt;">Operating Cash Outflows</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 73</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 46</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 146</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 92</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;">Weighted Average Remaining Lease Term</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"> 22.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"> 6.9</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"> 22.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"> 6.9</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;background:#cceeff;margin:0pt;padding:0pt;">Weighted Average Discount Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 4.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2.0</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 4.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2.0</td></tr></table>Minimum future lease payments under non-cancelable operating land leases, having remaining terms in excess of one year subsequent to June 30, 2025, are summarized as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:69.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:27.01%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 154</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 311</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,789</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">Total Lease Payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 5,534</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">Imputed Interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,366)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">Operating Leases – Liability</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,168</td></tr></table>

3100000

3200000

100000

The following table reflects a summary of operating land leases, under which the Company is the lessee, for the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:29.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;background:#cceeff;margin:0pt;padding:0pt;">Operating Cash Outflows</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 73</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 46</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 146</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 92</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;margin:0pt;padding:0pt;">Weighted Average Remaining Lease Term</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"> 22.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"> 6.9</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;margin:0pt;padding:0pt;"> 22.3</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;"> 6.9</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:37.94%;background:#cceeff;margin:0pt;padding:0pt;">Weighted Average Discount Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 4.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2.0</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.77%;background:#cceeff;margin:0pt;padding:0pt;"> 4.2</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.79%;background:#cceeff;margin:0pt;padding:0pt;"> 2.0</td></tr></table>

73000

46000

146000

92000

P22Y3M18D

P6Y10M24D

P22Y3M18D

P6Y10M24D

0.042

0.02

0.042

0.02

Minimum future lease payments under non-cancelable operating land leases, having remaining terms in excess of one year subsequent to June 30, 2025, are summarized as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:69.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:27.01%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 154</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 311</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 320</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,789</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">Total Lease Payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;margin:0pt;padding:0pt;"> 5,534</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;background:#cceeff;margin:0pt;padding:0pt;">Imputed Interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,366)</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.3%;margin:0pt;padding:0pt;">Operating Leases – Liability</td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,168</td></tr></table>

154000

311000

320000

3789000

5534000

2366000

3168000

NOTE 10. ASSETS HELD FOR SALEAssets held for sale consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:50.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:47.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:50.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:22.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:22.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> 3,361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> 4,068</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Intangible Lease Assets—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 409</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> (39)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> (39)</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Straight-Line Rent Adjustment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 84</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Other Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Assets Prior to Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 3,724</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 4,528</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Less Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,614)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,274)</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Total Assets Held for Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,254</td></tr></table>

Assets held for sale consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:50.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:47.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:50.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:22.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:22.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> 3,361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> 4,068</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Intangible Lease Assets—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 328</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 409</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> (39)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;margin:0pt;padding:0pt;"> (39)</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Straight-Line Rent Adjustment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 84</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Other Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Assets Prior to Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 3,724</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;margin:0pt;padding:0pt;"> 4,528</td></tr><tr><td style="vertical-align:top;width:50.07%;background:#cceeff;margin:0pt;padding:0pt;">Less Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,614)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,274)</td></tr><tr><td style="vertical-align:top;width:50.07%;margin:0pt;padding:0pt;">Total Assets Held for Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,254</td></tr></table>

3361000 4068000 328000 409000 39000 39000 69000 84000

5000

6000

3724000 4528000 2614000 2274000

1110000

2254000

NOTE 11. ACCOUNTS PAYABLE, ACCRUED EXPENSES, AND OTHER LIABILITIESAccounts payable, accrued expenses, and other liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:41.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Accounts Payable </td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 80</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> 40</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Accrued Expenses (2)</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 9,144</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 3,308</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Security Deposits</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 145</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> 140</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Due to CTO</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 1,058</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 1,126</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Interest Rate Swaps</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 111</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Loan Reserves</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 631</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 601</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating Leases - Liability (1)</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,168</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,230</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Total Accounts Payable, Accrued Expenses, and Other Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,337</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,445</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">See Note 9, “Operating Land Leases” for further disclosure related to the Company’s operating lease liability balance as of June 30, 2025.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, $5.0 million in tenant improvements for a property were completed and accordingly were accrued for through an increase to Building and Improvements, at Cost and Accounts Payable, Accrued Expenses, and Other Liabilities in the Company’s consolidated Balance Sheet. Payment was made subsequent to June 30, 2025.</td></tr></table>

Accounts payable, accrued expenses, and other liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:41.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Accounts Payable </td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 80</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> 40</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Accrued Expenses (2)</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 9,144</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 3,308</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Security Deposits</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 145</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> 140</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Due to CTO</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 1,058</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 1,126</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Interest Rate Swaps</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;margin:0pt;padding:0pt;"> 111</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Loan Reserves</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;margin:0pt;padding:0pt;"> 631</td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;margin:0pt;padding:0pt;"> 601</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating Leases - Liability (1)</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,168</td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,230</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:56.04%;margin:0pt;padding:0pt;">Total Accounts Payable, Accrued Expenses, and Other Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,337</td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.87%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,445</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">See Note 9, “Operating Land Leases” for further disclosure related to the Company’s operating lease liability balance as of June 30, 2025.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, $5.0 million in tenant improvements for a property were completed and accordingly were accrued for through an increase to Building and Improvements, at Cost and Accounts Payable, Accrued Expenses, and Other Liabilities in the Company’s consolidated Balance Sheet. Payment was made subsequent to June 30, 2025.</td></tr></table>

80000

40000

9144000

3308000

145000

140000

1058000

1126000

111000

631000 601000

3168000

3230000

14337000 8445000

5000000

0.08

2300000

2200000

100000

11400000

11300000

100000

NOTE 13. LONG-TERM DEBTAs of June 30, 2025, the Company’s outstanding indebtedness, at face value, was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Face Value Debt (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Stated Interest Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Rate as of June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility (1)</td><td style="vertical-align:bottom;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;margin:0pt;padding:0pt;"> 153,000</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;background:#cceeff;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.25% - 2.20%]</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;margin:0pt;padding:0pt;">5.46%</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;">2026 Term Loan (2)</td><td style="vertical-align:bottom;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.35% - 1.95%]</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;">3.80%</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;">May 2026</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;background:#cceeff;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.25% - 1.90%]</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">3.75%</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;">Total Debt/Weighted-Average Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 353,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">4.51%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a weighted average fixed interest rate of 3.32% plus 0.10% and the applicable spread on $100 million of the outstanding balance on the Credit Facility (hereinafter defined). See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100 million 2026 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100 million 2027 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps. </td></tr></table> Credit Facility. On September 30, 2022, the Company and the Operating Partnership entered into a credit agreement (the “2022 Amended and Restated Credit Agreement” or “Credit Facility”) with KeyBank National Association, as administrative agent, and certain other lenders named therein, which amended and restated the 2027 Term Loan Credit Agreement (hereinafter defined) to include, among other things:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the origination of a new senior unsecured revolving credit facility in the amount of $250 million which matures on January 31, 2027, with the option to extend for one year;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">an accordion option that allows the Company to request additional revolving loan commitments and additional term loan commitments, provided the aggregate amount of revolving loan commitments and term loan commitments shall not exceed $750 million;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the amendment of certain financial covenants; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the addition of a sustainability-linked pricing component pursuant to which the Company will receive interest rate reductions up to 0.025% based on performance against sustainability performance targets.</td></tr></table>Pursuant to the 2022 Amended and Restated Credit Agreement, the indebtedness outstanding under the Credit Facility accrues at a rate ranging from SOFR plus 0.10% plus 125 basis points to SOFR plus 0.10% plus 220 basis points, based on the total balance outstanding under the Credit Facility as a percentage of the total asset value of the Company, as defined in the 2022 Amended and Restated Credit Agreement. The Company may utilize daily simple SOFR or term SOFR, at its election. The Credit Facility also accrues a fee of 15 or 25 basis points for any unused portion of the borrowing capacity based on whether the unused portion is greater or less than 50% of the total borrowing capacity. The Company is subject to customary restrictive covenants under the 2022 Amended and Restated Credit Agreement and the 2026 Term Loan Credit Agreement (hereinafter defined), as amended, collectively referred to herein as the “Credit Agreements”, including, but not limited to, limitations on the Company’s ability to: (a) incur indebtedness; (b) make certain investments; (c) incur certain liens; (d) engage in certain affiliate transactions; and (e) engage in certain major transactions such as mergers. The Credit Agreements also contain financial covenants covering the Company, including but not limited to, tangible net worth and fixed charge coverage ratios. At June 30, 2025, the commitment level under the Credit Facility was $250.0 million and the Company had an outstanding balance of $153.0 million. The available borrowing capacity, subject to borrowing base restrictions, was $48.0 million as of June 30, 2025.2026 Term Loan. On May 21, 2021, the Operating Partnership, the Company and certain subsidiaries of the Company entered into a credit agreement (the “2026 Term Loan Credit Agreement”) with Truist Bank, N.A. as administrative agent, and certain other lenders named therein, for a term loan (the “2026 Term Loan”) in an aggregate principal amount of $60.0 million with a maturity of five years. On April 14, 2022, the Company entered into the Amendment, Increase and Joinder to the 2026 Term Loan Credit Agreement (the “2026 Term Loan Amendment”), which increased the term loan commitment under the 2026 Term Loan by $40.0 million to an aggregate of $100.0 million. The 2026 Term Loan Amendment also effectuated the transition of the underlying variable interest rate from LIBOR to SOFR. On October 5, 2022, the Company entered into an amendment which, among other things, amended certain financial covenants and added a sustainability-linked pricing component consistent with what is contained in the 2022 Amended and Restated Credit Agreement (the “2026 Term Loan Second Amendment”), effective September 30, 2022.2027 Term Loan. On September 30, 2021, the Operating Partnership, the Company and certain subsidiaries of the Company entered into a credit agreement (the “2027 Term Loan Credit Agreement”) with KeyBank National Association as administrative agent, and certain other lenders named therein, for a term loan (the “2027 Term Loan”) in an aggregate principal amount of $80.0 million (the “Term Commitment”) maturing in January 2027. On April 14, 2022, the Company entered into the Amendment, Increase and Joinder to the 2027 Term Loan Credit Agreement (the “2027 Term Loan Amendment”), which increased the Term Commitment by $20 million to an aggregate of $100 million. The 2027 Term Loan Amendment also effectuated the transition of the underlying variable interest rate from LIBOR to SOFR. On September 30, 2022, the Company entered into the 2022 Amended and Restated Credit Agreement which amended and restated the 2027 Term Loan Credit Agreement to include the origination of a new revolving credit facility in the amount of $250.0 million as previously described. The 2022 Amended and Restated Credit Agreement includes an accordion option that allows the Company to request additional revolving loan commitments and additional term loan commitments not to exceed $750.0 million in the aggregate. Long-term debt as of June 30, 2025 and December 31, 2024 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total </td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> 153,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;margin:0pt;padding:0pt;"> 102,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;">2026 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (430)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (534)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 352,570</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 301,466</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table> Payments applicable to reduction of principal amounts as of June 30, 2025 will be required as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:77.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount </td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> 100,000</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> 253,000</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;">Total Long-Term Debt - Face Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 353,000</td></tr></table>The carrying value of long-term debt as of June 30, 2025 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:77.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total </td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> 353,000</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (430)</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 352,570</td></tr></table>In addition to the $0.4 million of financing costs, net of accumulated amortization included in the table above, as of June 30, 2025, the Company also had financing costs, net of accumulated amortization related to the Credit Facility of $0.7 million which is included in other assets on the consolidated balance sheets. These costs are amortized on a straight-line basis over the term of the Credit Facility and are included in interest expense in the consolidated statements of operations. The following table reflects a summary of interest expense incurred and paid during the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 3,965</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 2,557</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 7,153</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;margin:0pt;padding:0pt;"> 5,312</td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Interest Expense from Obligation Under Participation Agreement</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 150</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 94</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 365</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;margin:0pt;padding:0pt;"> 94</td></tr><tr><td style="vertical-align:top;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;">Amortization of Deferred Financing Costs to Interest Expense</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 205</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 180</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 360</td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Total Interest Expense</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,320</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,831</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7,912</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,766</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Total Interest Paid</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,510</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,716</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,683</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,503</td></tr></table>The Company was in compliance with all of its debt covenants as of June 30, 2025.

As of June 30, 2025, the Company’s outstanding indebtedness, at face value, was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Face Value Debt (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Stated Interest Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Rate as of June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility (1)</td><td style="vertical-align:bottom;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;margin:0pt;padding:0pt;"> 153,000</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;background:#cceeff;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.25% - 2.20%]</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;margin:0pt;padding:0pt;">5.46%</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;">2026 Term Loan (2)</td><td style="vertical-align:bottom;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.35% - 1.95%]</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;margin:0pt;padding:0pt;">3.80%</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;">May 2026</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.25%;background:#cceeff;margin:0pt;padding:0pt;">SOFR + 0.10% + [1.25% - 1.90%]</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">3.75%</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.63%;margin:0pt;padding:0pt;">Total Debt/Weighted-Average Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 353,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.13%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">4.51%</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.11%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a weighted average fixed interest rate of 3.32% plus 0.10% and the applicable spread on $100 million of the outstanding balance on the Credit Facility (hereinafter defined). See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100 million 2026 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100 million 2027 Term Loan (hereinafter defined) balance. See Note 14, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps. </td></tr></table>

153000000

0.001

0.0125

0.022

0.0546

100000000

0.001

0.0135

0.0195

0.038

100000000

0.001

0.0125

0.019

0.0375

353000000

0.0451

0.0332

0.001

100000000

0.0205

0.001

100000000

0.0205

0.001

100000000

250000000

P1Y 750000000 0.00025

0.001

0.0125

0.001

0.0220 0.0015 0.0025 0.50

250000000

153000000

48000000

60000000

P5Y

40000000 100000000

80000000

20000000 100000000

250000000

750000000

Long-term debt as of June 30, 2025 and December 31, 2024 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total </td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> 153,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;margin:0pt;padding:0pt;"> 102,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;">2026 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (430)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (534)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:46.21%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 352,570</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.29%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.3%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 301,466</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>

153000000

102000000

100000000

430000 534000

352570000

100000000

301466000

Payments applicable to reduction of principal amounts as of June 30, 2025 will be required as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:77.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount </td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> 100,000</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> 253,000</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">2031 and Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:77.52%;margin:0pt;padding:0pt;">Total Long-Term Debt - Face Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 353,000</td></tr></table>

100000000

253000000

353000000

The carrying value of long-term debt as of June 30, 2025 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:77.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:19.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total </td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;margin:0pt;padding:0pt;"> 353,000</td></tr><tr><td style="vertical-align:top;width:77.52%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (430)</td></tr><tr><td style="vertical-align:top;width:77.52%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.54%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 352,570</td></tr></table>

353000000

430000

352570000

400000 700000 The following table reflects a summary of interest expense incurred and paid during the three and six months ended June 30, 2025 and 2024 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 3,965</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 2,557</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"> 7,153</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;margin:0pt;padding:0pt;"> 5,312</td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Interest Expense from Obligation Under Participation Agreement</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 150</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 94</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;margin:0pt;padding:0pt;"> 365</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;margin:0pt;padding:0pt;"> 94</td></tr><tr><td style="vertical-align:top;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;">Amortization of Deferred Financing Costs to Interest Expense</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 205</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 180</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 360</td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Total Interest Expense</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,320</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,831</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7,912</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,766</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:46.18%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:46.18%;margin:0pt;padding:0pt;">Total Interest Paid</td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,510</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,716</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,683</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,503</td></tr></table>

3965000

2557000

7153000

5312000

150000 94000 365000 94000

205000

180000

394000

360000

4320000

2831000

7912000

5766000

3510000

2716000

6683000

5503000

NOTE 14. INTEREST RATE SWAPSThe Company has entered into interest rate swap agreements to hedge against changes in future cash flows resulting from fluctuating interest rates related to the below noted borrowings. The interest rate agreements were 100% effective during the three and six months ended June 30, 2025 and 2024. Accordingly, the changes in fair value on the interest rate swaps have been classified in other comprehensive income. The fair value of the interest rate swap agreements are included in other assets and accounts payable, accrued expenses and other liabilities, respectively, on the consolidated balance sheets. Information related to the Company’s interest rate swap agreements is noted below (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:31.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Hedged Item</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Effective Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value as of June 30, 2025</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan (1)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">5/21/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">5/21/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">2.05% + 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;">2027 Term Loan (2)</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;">11/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;">1.61%+ 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"> 80,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"> 2,522</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">9/30/2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">3.84%+ 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 20,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> (93)</td></tr><tr><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;">Credit Facility (4)</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;">3/1/2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;">3/1/2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;">3.21%+ 0.10%+ applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"> 196</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility (5)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">4/4/2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">1/1/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">3.43%+ 0.10%+ applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> 107</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100.0 million 2026 Term Loan balance. The weighted average fixed interest rate of 2.05%, is comprised of: (i) rate swaps on $60.0 million of the 2026 Term Loan balance effective May 21, 2021, as amended on April 14, 2022 in connection with the 2026 Term Loan Amendment, to fix SOFR (prior to April 14, 2022, the swap was to fix LIBOR), and (ii) a rate swap on $40.0 million of the 2026 Term Loan Balance effective September 30, 2022, to fix SOFR.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a fixed interest rate of 1.61% plus 0.10% and the applicable spread on $80.0 million of the $100.0 million 2027 Term Loan balance.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.84% plus 0.10% and the applicable spread on $20.0 million of the $100.0 million 2027 Term Loan balance. </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.21% plus 0.10% and the applicable spread on $50.0 million of the outstanding balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.43% plus 0.10% and the applicable spread on $50.0 million of the outstanding balance on the Credit Facility.</td></tr></table> The use of interest rate swap agreements carries risks, including the risk that the counterparties to these agreements are not able to perform. To mitigate this risk, the Company enters into interest rate swap agreements with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not currently anticipate that any of the counterparties to the Company’s interest rate swap agreements will fail to meet their obligations. As of June 30, 2025 and December 31, 2024, there were no events of default related to the Company's interest rate swap agreements.

1 1 1 1

Information related to the Company’s interest rate swap agreements is noted below (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:31.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Hedged Item</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Effective Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:13.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value as of June 30, 2025</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan (1)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">5/21/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">5/21/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">2.05% + 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;">2027 Term Loan (2)</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;">11/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;">1.61%+ 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"> 80,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"> 2,522</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">9/30/2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">3.84%+ 0.10% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 20,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> (93)</td></tr><tr><td style="vertical-align:bottom;width:31.03%;margin:0pt;padding:0pt;">Credit Facility (4)</td><td style="vertical-align:bottom;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;margin:0pt;padding:0pt;">3/1/2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;margin:0pt;padding:0pt;">3/1/2028</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;margin:0pt;padding:0pt;">3.21%+ 0.10%+ applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;margin:0pt;padding:0pt;"> 196</td></tr><tr><td style="vertical-align:bottom;width:31.03%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility (5)</td><td style="vertical-align:bottom;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.07%;background:#cceeff;margin:0pt;padding:0pt;">4/4/2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.14%;background:#cceeff;margin:0pt;padding:0pt;">1/1/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:21.57%;background:#cceeff;margin:0pt;padding:0pt;">3.43%+ 0.10%+ applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.95%;background:#cceeff;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.26%;background:#cceeff;margin:0pt;padding:0pt;"> 107</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a weighted average fixed interest rate of 2.05% plus 0.10% and the applicable spread on the $100.0 million 2026 Term Loan balance. The weighted average fixed interest rate of 2.05%, is comprised of: (i) rate swaps on $60.0 million of the 2026 Term Loan balance effective May 21, 2021, as amended on April 14, 2022 in connection with the 2026 Term Loan Amendment, to fix SOFR (prior to April 14, 2022, the swap was to fix LIBOR), and (ii) a rate swap on $40.0 million of the 2026 Term Loan Balance effective September 30, 2022, to fix SOFR.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized interest rate swaps to fix SOFR and achieve a fixed interest rate of 1.61% plus 0.10% and the applicable spread on $80.0 million of the $100.0 million 2027 Term Loan balance.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.84% plus 0.10% and the applicable spread on $20.0 million of the $100.0 million 2027 Term Loan balance. </td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.21% plus 0.10% and the applicable spread on $50.0 million of the outstanding balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">As of June 30, 2025, the Company has utilized an interest rate swap to fix SOFR and achieve a fixed interest rate of 3.43% plus 0.10% and the applicable spread on $50.0 million of the outstanding balance on the Credit Facility.</td></tr></table>

0.0205

0.001

100000000

1653000

0.0161

0.001

80000000

2522000

0.0384

0.001

20000000

93000

0.0321

0.001

50000000

196000

0.0343

0.001

50000000

107000

0.0205

0.001

100000000

0.0205

60000000

40000000

0.0161

0.001

80000000

100000000

0.0384

0.001

20000000

100000000

0.0321

0.001

50000000

0.0343

0.001

50000000

350000000

3220000

420000

3220000

54300000

100000000

446167

8700000

19.44 8600000

100000

761902

14000000

18.36 13800000

200000

150000000

3350

100000

16.02 16.02 100000 100000

100000

1059271

19100000

18.04 18800000

300000

665929

12600000

18.96 12400000

200000

1479241

27800000

18.81 27400000

400000

1925408

36500000

18.96 36000000

500000

0.08

1223854

0.57

0.55

NOTE 16. COMMON STOCK AND EARNINGS PER SHAREBasic earnings per common share are computed by dividing net income attributable to the Company for the period by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share are determined based on the assumption of the redemption of OP Units on a one-for-one basis using the treasury stock method at average market prices for the periods. The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per share data):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (1,641)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 204</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2,820)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (56)</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Weighted Average Number of Common Shares Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 14,202,796</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 13,624,932</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 14,414,682</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 13,623,070</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;">Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Total Shares Applicable to Diluted Earnings per Share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,426,650</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,848,786</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,638,536</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,846,924</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Per Common Share Data:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Basic and Diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> (0.12)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 0.01</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> (0.20)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1px;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Represents OP Units issued to CTO in connection with our formation transactions (See Note 19, “Related Party Management Company”).</td></tr></table>

The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per share data):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.21%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (1,641)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 204</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2,820)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (56)</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Weighted Average Number of Common Shares Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 14,202,796</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 13,624,932</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 14,414,682</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 13,623,070</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;">Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,223,854</td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Total Shares Applicable to Diluted Earnings per Share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,426,650</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,848,786</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,638,536</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,846,924</td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Per Common Share Data:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:48.76%;background:#cceeff;margin:0pt;padding:0pt;">Basic and Diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> (0.12)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 0.01</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> (0.20)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.21%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1px;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Represents OP Units issued to CTO in connection with our formation transactions (See Note 19, “Related Party Management Company”).</td></tr></table>

-1641000

204000

-2820000

-56000

14202796

13624932

14414682

13623070

1223854

15426650

14848786

15638536

14846924

-0.12

0.01

-0.2

5000000 5000000 5000000

23889

400000

15.22

15000000 15000000 15000000 5000000 15000000

875122

14200000

16.26

899011

14600000

16.23

15000000

45768

800000

16.9

15000000 10000000 10000000 10000000

546390

8800000

16.07

200000

12082

5806

6276

200000

10299

5131

5168

NOTE 19. RELATED PARTY MANAGEMENT COMPANYWe are externally managed by the Manager, a wholly owned subsidiary of CTO. Subsequent to the IPO, through June 30, 2025, CTO has purchased an aggregate of 322,831 shares of PINE common stock in the open market including (i) 29,807 shares purchased during the year ended December 31, 2024 for $0.4 million, or an average price per share of $14.97, (ii) 129,271 shares purchased during the year ended December 31, 2023 for $2.1 million, or an average price per share of $16.21, (iii) 155,665 shares purchased during the year ended December 31, 2022 for $2.7 million, or an average price per share of $17.57 and (iv) 8,088 shares purchased during the year ended December 31, 2021 for $0.1 million, or an average price per share of $17.65. As of June 30, 2025, CTO owns, in the aggregate, 1,223,854 OP Units and 1,138,621 shares of PINE common stock, inclusive of (i) 394,737 shares of common stock totaling $7.5 million issued in connection with a private placement that closed concurrently with the IPO, (ii) 421,053 shares of common stock totaling $8.0 million issued in connection with the IPO, and (iii) 322,831 shares of common stock totaling $5.4 million purchased by CTO subsequent to the IPO. The aggregate 1,223,854 OP Units and 1,138,621 shares of PINE common stock held by CTO represent an investment totaling $34.8 million, or 15.4% of PINE’s outstanding equity, as of June 30, 2025. Management AgreementOn November 26, 2019, the Operating Partnership and PINE entered into a management agreement with the Manager (the “Management Agreement”). Pursuant to the terms of the Management Agreement, our Manager manages, operates, and administers our day-to-day operations, business and affairs, subject to the direction and supervision of the Board and in accordance with the investment guidelines approved and monitored by the Board. We pay our Manager a base management fee equal to 0.375% per quarter of our “total equity” (as defined in the Management Agreement and based on a 1.5% annual rate), calculated and payable in cash, quarterly in arrears.Our Manager has the ability to earn an annual incentive fee based on our total stockholder return exceeding an 8% cumulative annual hurdle rate (the “Outperformance Amount”) subject to a high-water mark price. We would pay our Manager an incentive fee with respect to each annual measurement period in the amount of the greater of (i) $0.00 and (ii) the product of (a) 15% multiplied by (b) the Outperformance Amount multiplied by (c) the weighted average shares. No incentive fee was due for the year ended December 31, 2024.On July 18, 2024, the Operating Partnership and PINE entered into an amendment (the “Amendment”) to the Management Agreement with the Manager. The Amendment extended the expiration date of the initial term of the Management Agreement from November 26, 2024 to January 31, 2025, and on that date the term of the agreement automatically renewed for a one-year term. The current term of the agreement expires on January 31, 2026 and will automatically renew for an unlimited number of successive one-year periods thereafter, unless the agreement is not renewed or is terminated in accordance with its terms.Our independent directors review our Manager’s performance and the management fees annually and, following the initial term, the Management Agreement may be terminated annually upon the affirmative vote of two-thirds of our independent directors or upon a determination by the holders of a majority of the outstanding shares of our common stock, based upon (i) unsatisfactory performance by the Manager that is materially detrimental to us or (ii) a determination that the management fees payable to our Manager are not fair, subject to our Manager’s right to prevent such termination due to unfair fees by accepting a reduction of management fees agreed to by two-thirds of our independent directors. We may also terminate the Management Agreement for cause at any time, including during the initial term, without the payment of any termination fee, with 30 days’ prior written notice from the Board. During the initial term of the Management Agreement, we may not terminate the Management Agreement except for cause. We pay directly or reimburse our Manager for certain expenses, if incurred by our Manager. We do not reimburse any compensation expenses incurred by our Manager or its affiliates. Expense reimbursements to our Manager are made in cash on a quarterly basis following the end of each quarter. In addition, we pay all of our operating expenses, except those specifically required to be borne by our Manager pursuant to the Management Agreement.The Company incurred management fee expenses totaling $1.1 million and $2.2 million during the three and six months ended June 30, 2025, respectively. The Company also paid dividends on the common stock and OP Units owned by affiliates of the Manager in the amount of $0.7 million and $1.3 million for the three and six months ended June 30, 2025, respectively. The Company incurred management fee expenses totaling $1.0 million and $2.1 million during the three and six months ended June 30, 2024, respectively. The Company also paid dividends on the common stock and OP Units owned by affiliates of the Manager in the amount of $0.6 million and $1.3 million for the three and six months ended June 30, 2024, respectively. The following table represents amounts due to CTO (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:52.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:52.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:middle;width:45.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:52.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:52.41%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee due to CTO</td><td style="vertical-align:middle;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;margin:0pt;padding:0pt;"> 1,085</td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;margin:0pt;padding:0pt;"> 1,098</td></tr><tr><td style="vertical-align:top;width:52.41%;margin:0pt;padding:0pt;">Other </td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27)</td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 28</td></tr><tr><td style="vertical-align:top;width:52.41%;background:#cceeff;margin:0pt;padding:0pt;">Total (1)</td><td style="vertical-align:middle;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,058</td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,126</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.13em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.13;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Included in accrued expenses, see Note 11, “Accounts Payable, Accrued Expenses, and Other Liabilities”. </td></tr></table>ROFO Agreement On November 26, 2019, PINE also entered into an Exclusivity and Right of First Offer Agreement with CTO (the “ROFO Agreement”). During the term of the ROFO Agreement, CTO will not, and will cause each of its affiliates (which for purposes of the ROFO Agreement will not include our company and our subsidiaries) not to, acquire, directly or indirectly, a single-tenant, net leased property, unless CTO has notified us of the opportunity and we have affirmatively rejected the opportunity to acquire the applicable property or properties. The terms of the ROFO Agreement do not restrict CTO or any of its affiliates from providing financing for a third party’s acquisition of single-tenant, net leased properties or from developing and owning any single-tenant, net leased property.Pursuant to the ROFO Agreement, neither CTO nor any of its affiliates (which for purposes of the ROFO Agreement does not include our company and our subsidiaries) may sell to any third party any single-tenant, net leased property that was owned by CTO or any of its affiliates as of the closing date of the IPO or that is developed and owned by CTO or any of its affiliates after the closing date of the IPO, without first offering us the right to purchase such property. The term of the ROFO Agreement will continue for so long as the Management Agreement with our Manager is in effect. On April 6, 2021, the Company entered into a purchase and sale agreement with a certain subsidiary of CTO for the purchase of one net lease property for $11.5 million. The acquisition was completed on April 23, 2021.On April 2, 2021, the Company entered into a purchase and sale agreement with certain subsidiaries of CTO for the purchase of six net lease properties (the “CMBS Portfolio”). The terms of the purchase and sale agreement, as amended on April 20, 2021, provided a total purchase price of $44.5 million for the CMBS Portfolio. The acquisition of the CMBS Portfolio was completed on June 30, 2021.On January 5, 2022, the Company entered into a purchase and sale agreement with a certain subsidiary of CTO for the purchase of one net lease property for $6.9 million. The acquisition was completed on January 7, 2022.The entry into these purchase and sale agreements, and subsequent completion of the related acquisitions, are a result of the Company exercising its right to purchase the aforementioned properties under the ROFO Agreement. Conflicts of Interest Conflicts of interest may exist or could arise in the future with CTO and its affiliates, including our Manager, the individuals who serve as our executive officers and executive officers of CTO, any individual who serves as a director of our company and as a director of CTO and any limited partner of the Operating Partnership. Conflicts may include, without limitation: conflicts arising from the enforcement of agreements between us and CTO or our Manager; conflicts in the amount of time that executive officers and employees of CTO, who are provided to us through our Manager, will spend on our affairs versus CTO’s affairs; and conflicts in future transactions that we may pursue with CTO and its affiliates. We do not generally expect to enter into joint ventures with CTO, but if we do so, the terms and conditions of our joint venture investment will be subject to the approval of a majority of disinterested directors of the Board.In addition, we are subject to conflicts of interest arising out of our relationships with our Manager. Pursuant to the Management Agreement, our Manager is obligated to supply us with our senior management team. However, our Manager is not obligated to dedicate any specific CTO personnel exclusively to us, nor are the CTO personnel provided to us by our Manager obligated to dedicate any specific portion of their time to the management of our business. Additionally, our Manager is a wholly owned subsidiary of CTO. All of our executive officers are executive officers and employees of CTO and one of our officers (John P. Albright) is also a member of CTO’s board of directors. As a result, our Manager and the CTO personnel it provides to us may have conflicts between their duties to us and their duties to, and interests in, CTO.We may acquire, sell, or finance net leased properties that would potentially fit the investment criteria for our Manager or its affiliates. Similarly, our Manager or its affiliates may acquire, sell, or finance net leased properties that would potentially fit our investment criteria. Although such acquisitions or dispositions could present conflicts of interest, we nonetheless may pursue and consummate such transactions. Additionally, we may engage in transactions directly with our Manager or its affiliates, including the purchase and sale of all or a portion of a portfolio of assets. If we acquire a net leased property from CTO or one of its affiliates or sell a net leased property to CTO or one of its affiliates, the purchase price we pay to CTO or one of its affiliates or the purchase price paid to us by CTO or one of its affiliates may be higher or lower, respectively, than the purchase price that would have been paid to or by us if the transaction were the result of arm’s length negotiations with an unaffiliated third party.In deciding whether to issue additional debt or equity securities, we will rely, in part, on recommendations made by our Manager. While such decisions are subject to the approval of the Board, our Manager is entitled to be paid a base management fee that is based on our “total equity” (as defined in the Management Agreement). As a result, our Manager may have an incentive to recommend that we issue additional equity securities at dilutive prices.All of our executive officers are executive officers and employees of CTO. These individuals and other CTO personnel provided to us through our Manager devote as much time to us as our Manager deems appropriate. However, our executive officers and other CTO personnel provided to us through our Manager may have conflicts in allocating their time and services between us, on the one hand, and CTO and its affiliates, on the other. During a period of prolonged economic weakness or another economic downturn affecting the real estate industry or at other times when we need focused support and assistance from our Manager and the CTO executive officers and other personnel provided to us through our Manager, we may not receive the necessary support and assistance we require or that we would otherwise receive if we were self-managed.Additionally, the ROFO Agreement does contain exceptions to CTO’s exclusivity for opportunities that include only an incidental interest in single-tenant, net leased properties. Accordingly, the ROFO Agreement will not prevent CTO from pursuing certain acquisition opportunities that otherwise satisfy our then-current investment criteria. Our directors and executive officers have duties to our company under applicable Maryland law in connection with their management of our company. At the same time, PINE GP has fiduciary duties, as the general partner, to the Operating Partnership and to the limited partners under Delaware law in connection with the management of the Operating Partnership. These duties as a general partner to the Operating Partnership and its partners may come into conflict with the duties of our directors and executive officers to us. Unless otherwise provided for in the relevant partnership agreement, Delaware law generally requires a general partner of a Delaware limited partnership to adhere to fiduciary duty standards under which it owes its limited partners the highest duties of loyalty and care and which generally prohibits such general partner from taking any action or engaging in any transaction as to which it has a conflict of interest. The partnership agreement provides that in the event of a conflict between the interests of our stockholders on the one hand and the limited partners of the Operating Partnership on the other hand, PINE GP will endeavor in good faith to resolve the conflict in a manner not adverse to either our stockholders or the limited partners; provided, however, that so long as we own a controlling interest in the Operating Partnership, any such conflict that we, in our sole and absolute discretion, determine cannot be resolved in a manner not adverse to either our stockholders or the limited partners of the Operating Partnership shall be resolved in favor of our stockholders, and we shall not be liable for monetary damages for losses sustained, liabilities incurred or benefits not derived by the limited partners in connection with such decisions.Revenue Sharing AgreementOn December 4, 2023, CTO entered into an asset management agreement directly with the borrower under the Mortgage Note (as described in Note 4, “Commercial Loans and Investments”) to manage the portfolio of assets secured by the Mortgage Note. The Company entered into a revenue sharing agreement with CTO whereby the Company is expected to receive a share of the asset management fees, disposition management fees, leasing commissions, and other fees related to CTO’s management and administration of the portfolio (the “Revenue Sharing Agreement”). The Company’s share of the fees under the Revenue Sharing Agreement is based on fees earned by CTO associated with the single tenant properties within the portfolio. The Company recognized $0.1 million and $0.2 million of revenue pursuant to the Revenue Sharing Agreement during the three and six months ended June 30, 2025, respectively, which is included in other revenue on the Company’s consolidated statements of operations. The Company recognized $0.2 million and $0.3 million of revenue pursuant to the Revenue Sharing Agreement during the three and six months ended June 30, 2024, respectively, which is included in other revenue on the Company’s consolidated statements of operations.

322831

29807

400000

14.97

129271

2100000

16.21

155665

2700000

17.57

8088

100000

17.65

1223854

1138621

394737

7500000

421053

8000000

322831

5400000

1223854

1138621

34800000

0.154 0.00375 0.015 0.08 0 0.15 0 P1Y P1Y P30D 1100000 2200000 700000 1300000 1000000 2100000 600000 1300000

The following table represents amounts due to CTO (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:52.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:52.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:middle;width:45.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:52.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;width:52.41%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee due to CTO</td><td style="vertical-align:middle;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;margin:0pt;padding:0pt;"> 1,085</td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;margin:0pt;padding:0pt;"> 1,098</td></tr><tr><td style="vertical-align:top;width:52.41%;margin:0pt;padding:0pt;">Other </td><td style="vertical-align:middle;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27)</td><td style="vertical-align:middle;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 28</td></tr><tr><td style="vertical-align:top;width:52.41%;background:#cceeff;margin:0pt;padding:0pt;">Total (1)</td><td style="vertical-align:middle;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,058</td><td style="vertical-align:middle;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.31%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,126</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:9.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.13em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.13;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:6pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Included in accrued expenses, see Note 11, “Accounts Payable, Accrued Expenses, and Other Liabilities”. </td></tr></table>

1085000 1098000 -27000 28000 1058000 1126000 1

11500000

44500000

6900000

100000

200000

300000

22300000

5000000

NOTE 21. BUSINESS SEGMENT DATA The Company operates in two primary business segments: income properties and commercial loans and investments.Our income property operations consist of lease income from income producing properties and our business plan is focused on investing in additional income-producing properties. Our income property operations accounted for 79% and 82% of our identifiable assets as of June 30, 2025 and December 31, 2024, respectively, and 82% and 91% of our consolidated revenues for the six months ended June 30, 2025 and 2024, respectively. Our commercial loans and investment operations accounted for 18% and 15% of our identifiable assets as of June 30, 2025 and December 31, 2024, respectively, and 17% and 8% of our consolidated revenues for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, our commercial loans investment portfolio consisted of 14 commercial loan investments, of which three are related to properties acquired through a sale-leaseback transaction whereby the tenant has a future repurchase right.The Company’s CODM evaluates segment performance based on total revenues less direct costs of revenues when making decisions about allocating capital to the segments. The Company’s reportable segments are strategic business units that offer different products. They are managed separately because each segment requires different management techniques, knowledge, and skill. Information about the Company’s operations in different segments for the three months ended June 30, 2025 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:51.77%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 12,022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 12,022</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,737</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 12,022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 14,759</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,863</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,105</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,105</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 9,917</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 12,654</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 2,816</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> (13)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,803</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,705</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,705</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,750</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 3,146</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 938</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 938</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 1,334</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,750</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 4,084</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> (1,697)</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 47</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,320)</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (1,782)</td></tr></table>Information about the Company’s operations in different segments for the three months ended June 30, 2024 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 11,330</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 11,330</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 986</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 11,330</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 12,316</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 174</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,490</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,800</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 9,530</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 10,516</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 68</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 657</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,352</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,352</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 2,589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 3,507</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 3,507</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 4,425</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 174</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (1,602)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 56</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,831)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 222</td></tr></table>Information about the Company’s operations in different segments for the six months ended June 30, 2025 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 23,848</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 23,848</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,038</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 23,848</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 28,886</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 183</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 29,069</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,139</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,139</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 19,709</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 24,747</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 4,640</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 194</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 4,834</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,012</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,012</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 1,057</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,844</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 5,901</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,089</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,089</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 3,146</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,844</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 7,990</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 183</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (3,413)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 92</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,912)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3,060)</td></tr></table>Information about the Company’s operations in different segments for the six months ended June 30, 2024 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 22,794</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 22,794</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,889</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 22,794</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 24,683</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 273</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 24,956</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,728</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,728</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 19,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 20,955</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 99</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 688</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 12,734</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 12,734</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 5,743</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1,790</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 7,533</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 6,661</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1,790</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 8,451</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 273</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (3,144)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 125</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,766)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (61)</td></tr></table>Capital expenditures of each segment for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:27.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:27.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;background:#cceeff;margin:0pt;padding:0pt;">Capital Expenditures:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 351</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 14,808</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 40,339</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;margin:0pt;padding:0pt;"> 15,946</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,715</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,718</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 33,098</td><td style="vertical-align:bottom;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 10,315</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;">Total Capital Expenditures</td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,526</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 73,437</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,261</td></tr></table>Identifiable assets of each segment as of June 30, 2025 and December 31, 2024 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:63.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:middle;width:34.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:63.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Identifiable Assets:</td><td style="vertical-align:middle;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 499,545</td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 497,765</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:middle;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"> 114,071</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"> 92,358</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Other Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 17</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,830</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,855</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Total Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 628,446</td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 604,995</td></tr></table> Identifiable assets by segment are those assets that are used in the Company’s operations in each segment. Corporate and other assets consist primarily of cash and restricted cash as well as the interest rate swaps.

0.79

0.82

0.91

0.18

0.15

0.17

0.08

14 3

Information about the Company’s operations in different segments for the three months ended June 30, 2025 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:51.77%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.55%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 12,022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 12,022</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,737</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 12,022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 14,759</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,863</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,105</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,105</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"> 9,917</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 2,737</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 12,654</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 2,816</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> (13)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,803</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,705</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,705</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 396</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,750</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 3,146</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 938</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 938</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"> 1,334</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 2,750</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> 4,084</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:middle;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"> (1,697)</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"> 47</td></tr><tr><td style="vertical-align:top;width:51.77%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4,320)</td></tr><tr><td style="vertical-align:top;width:51.77%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.47%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (1,782)</td></tr></table>Information about the Company’s operations in different segments for the three months ended June 30, 2024 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 11,330</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 11,330</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 986</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 11,330</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 12,316</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 174</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,490</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,800</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,800</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 9,530</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 986</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 10,516</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 68</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 657</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,352</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,352</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 2,589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 3,507</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 3,507</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 4,425</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 174</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (1,602)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 56</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,831)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 222</td></tr></table>Information about the Company’s operations in different segments for the six months ended June 30, 2025 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 23,848</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 23,848</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5,038</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 23,848</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 28,886</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 183</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 29,069</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,139</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,139</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 19,709</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5,038</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 24,747</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 4,640</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 194</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 4,834</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,012</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,012</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 1,057</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,844</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 5,901</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,089</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,089</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 3,146</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,844</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 7,990</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 183</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (3,413)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 92</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,912)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3,060)</td></tr></table>Information about the Company’s operations in different segments for the six months ended June 30, 2024 is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;width:1.53%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:14.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Lease Income</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 22,794</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 22,794</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Income from Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,889</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 22,794</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 24,683</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;">Reconciliation to Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 273</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Consolidated Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 24,956</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Operating Expenses:</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,728</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,728</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Total Revenues Less Direct Costs of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"> 19,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 1,889</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 20,955</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Provision for Impairment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 99</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 688</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 12,734</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 12,734</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Total Revenues Less Operating Expenses for Reportable Segments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 5,743</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1,790</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 7,533</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Gain on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 918</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Net Income From Operations for Reportable Segments</td><td style="vertical-align:middle;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"> 6,661</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1,790</td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> 8,451</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Reconciliation to Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Other Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 273</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">General and Administrative Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;margin:0pt;padding:0pt;"> (3,144)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Investment and Other Income</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;"> 125</td></tr><tr><td style="vertical-align:top;width:51.94%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,766)</td></tr><tr><td style="vertical-align:top;width:51.94%;margin:0pt;padding:0pt;">Consolidated Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.53%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (61)</td></tr></table>Capital expenditures of each segment for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:27.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:27.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Six Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:12.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2024</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;background:#cceeff;margin:0pt;padding:0pt;">Capital Expenditures:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 351</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 14,808</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"> 40,339</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;margin:0pt;padding:0pt;"> 15,946</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:44.4%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,715</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,718</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 33,098</td><td style="vertical-align:bottom;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 10,315</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:44.4%;margin:0pt;padding:0pt;">Total Capital Expenditures</td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,066</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,526</td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 73,437</td><td style="vertical-align:bottom;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.53%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,261</td></tr></table>

12022000

2737000

12022000 2737000 14759000

104000

14863000

2105000 2105000

9917000

2737000

12654000

2816000

-13000

2803000

6705000

396000 2750000 3146000

938000

1334000 2750000 4084000

104000

1697000

47000

-4320000

-1782000

11330000

986000

11330000 986000 12316000

174000

12490000

1800000 1800000

9530000

986000

10516000

589000

68000

657000

6352000

2589000 918000 3507000

918000

3507000 918000 4425000

174000

1602000

56000

-2831000

222000

23848000

5038000

23848000 5038000 28886000

183000

29069000

4139000 4139000

19709000

5038000

24747000

4640000

194000

4834000

14012000

1057000 4844000 5901000

2089000

3146000 4844000 7990000

183000

3413000

92000

-7912000

-3060000

22794000

1889000

22794000 1889000 24683000

273000

24956000

3728000 3728000

19066000

1889000

20955000

589000

99000

688000

12734000

5743000 1790000 7533000

918000

6661000 1790000 8451000

273000

3144000

125000

-5766000

-61000

351000

14808000

40339000

15946000

11715000

6718000

33098000

10315000

12066000

21526000

73437000

26261000

Identifiable assets of each segment as of June 30, 2025 and December 31, 2024 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:63.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:middle;width:34.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:63.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 30, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Identifiable Assets:</td><td style="vertical-align:middle;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 499,545</td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 497,765</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loans and Investments</td><td style="vertical-align:middle;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"> 114,071</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;margin:0pt;padding:0pt;"> 92,358</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Other Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;margin:0pt;padding:0pt;"> 17</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,830</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 14,855</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:63.69%;margin:0pt;padding:0pt;">Total Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 628,446</td><td style="vertical-align:middle;width:1.91%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.91%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.32%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 604,995</td></tr></table>

499545000

497765000

114071000

92358000

17000

14830000

14855000

628446000

604995000

NOTE 22. SUBSEQUENT EVENTSSubsequent events and transactions were evaluated through July 24, 2025, the date the consolidated financial statements were issued. On July 2, 2025, the current face amount of the Publix Land Development loan of $25.5 million, and the current face amount of the Verizon Turnersville, NJ loan of $2.0 million, were both repaid in full. Total proceeds to the Company were $27.6 million, including accrued interest, and were utilized to pay down the balance on the Company’s Credit Facility.

25500000 2000000

27600000

--12-31 false false false false