Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Lease income $ 97,525 $ 100,384 $ 101,582
Expenses:      
Operating expenses 12,203 12,275 12,610
Depreciation and amortization 17,454 18,482 19,245
Provision for impairment of investment properties 12,954 2,081 0
General and administrative expenses 15,297 4,910 5,263
Total expenses 57,908 37,748 37,118
Other income:      
Gain on sales of investment properties, net 4,273 9,605 2,936
Other income 3,125 1,537 1,761
Total other income 7,398 11,142 4,697
Net income $ 47,015 $ 73,778 $ 69,161
Earnings per certificate – basic and diluted:      
Net income per certificate - basic (in usd per share) $ 0.63 $ 0.98 $ 0.92
Net income per certificate - diluted (in usd per share) $ 0.63 $ 0.98 $ 0.92
Weighted average number of certificates outstanding – basic (shares) 75,000,000 75,000,000 75,000,000
Weighted average number of certificates outstanding – diluted (shares) 75,000,000 75,000,000 75,000,000