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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total Stockholders' Equity
Common Stock
Common Class A
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Distributions in excess of accumulated earnings
Non-controlling Interests
Total
Beginning balance (in shares) at Dec. 31, 2022 [1]   1,886,298          
Beginning balance at Dec. 31, 2022 $ 301,062 $ 19 [1] $ 698,761 [1] $ 1,637 $ (399,355) $ 20,514 $ 321,576
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common stock issued related to Rights Offering (shares) [1]   386,100          
Common stock issued related to Rights Offering 4,059 $ 4 [1] 4,055 [1]       4,059
Common stock issued to the Advisor in connection with Advisor related fees (see Note 7) (in shares) [1]   31,407          
Common stock issued to the Advisor in connection with Advisor related fees (see Note 7) 485   485 [1]       485
Redemption of fractional shares of common stock (in shares) [1]   (1,948)          
Redemption of fractional shares of common stock (24)   (24) [1]       (24)
Equity-based compensation (in shares) [1]   23,305          
Equity-based compensation 426   426 [1]     5,286 5,712
Common stock withheld upon vesting of restricted stock (in shares) [1]   (961)          
Common stock withheld upon vesting of restricted stock (10)   (10) [1]       (10)
Net loss (32,047)       (32,047)   (32,047)
Other comprehensive loss (808)     (808)     (808)
Forfeiture of 2020 LTIP Units 25,800   25,800 [1]     (25,800)  
Ending balance (in shares) at Sep. 30, 2023 [1]   2,324,201          
Ending balance at Sep. 30, 2023 298,943 $ 23 [1] 729,493 [1] 829 (431,402)   298,943
Beginning balance (in shares) at Jun. 30, 2023 [1]   2,302,950          
Beginning balance at Jun. 30, 2023 282,801 $ 23 [1] 703,587 [1] 1,203 (422,012) 24,698 307,499
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Equity-based compensation (in shares) [1]   21,251          
Equity-based compensation 106   106 [1]     1,102 1,208
Net loss (9,390)       (9,390)   (9,390)
Other comprehensive loss (374)     (374)     (374)
Forfeiture of 2020 LTIP Units 25,800   25,800 [1]     $ (25,800)  
Ending balance (in shares) at Sep. 30, 2023 [1]   2,324,201          
Ending balance at Sep. 30, 2023 298,943 $ 23 [1] 729,493 [1] 829 (431,402)   $ 298,943
Beginning balance (in shares) at Dec. 31, 2023   2,334,340         2,334,340
Beginning balance at Dec. 31, 2023 224,794 $ 23 729,644 406 (505,279)   $ 224,794
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Common stock issued to the Advisor in connection with Advisor related fees (see Note 7) (in shares)   245,315          
Common stock issued to the Advisor in connection with Advisor related fees (see Note 7) 1,610 $ 2 1,608       1,610
Equity-based compensation (in shares)   84,757          
Equity-based compensation 316 $ 1 315       316
Common stock withheld upon vesting of restricted stock (in shares)   (432)          
Net loss (133,941)       (133,941)   (133,941)
Other comprehensive loss (406)     $ (406)     $ (406)
Ending balance (in shares) at Sep. 30, 2024   2,663,980         2,663,980
Ending balance at Sep. 30, 2024 92,373 $ 26 731,567   (639,220)   $ 92,373
Beginning balance (in shares) at Jun. 30, 2024   2,642,764          
Beginning balance at Jun. 30, 2024 126,779 $ 26 731,491   (604,738)   126,779
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Equity-based compensation (in shares)   21,216          
Equity-based compensation 76   76       76
Net loss (34,482)       (34,482)   $ (34,482)
Ending balance (in shares) at Sep. 30, 2024   2,663,980         2,663,980
Ending balance at Sep. 30, 2024 $ 92,373 $ 26 $ 731,567   $ (639,220)   $ 92,373
[1] Retroactively adjusted for the effects of the Reverse Stock Split (see Note 1)