v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real estate:    
Land $ 226,106 $ 226,106
Buildings and improvements 1,996,140 1,991,483
Tenant origination and absorption costs 26,756 27,334
Total real estate held for investment, cost 2,249,002 2,244,923
Less accumulated depreciation and amortization (704,304) (681,392)
Total real estate, net 1,544,698 1,563,531
Real estate equity securities 35,377 40,600
Total real estate and real estate-related investments, net 1,580,075 1,604,131
Cash and cash equivalents 30,147 30,484
Restricted cash 14,257 11,090
Rents and other receivables, net 100,130 101,372
Above-market leases, net 103 120
Prepaid expenses and other assets 75,857 76,248
Total assets 1,800,569 1,823,445
Liabilities and equity    
Notes payable, net 1,447,912 1,442,661
Accounts payable and accrued liabilities 53,495 46,911
Due to affiliate 19,386 19,520
Below-market leases, net 447 544
Other liabilities 56,042 57,250
Total liabilities 1,577,282 1,566,886
Commitments and contingencies (Note 13)
Redeemable common stock 0 0
Stockholders’ equity:    
Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 148,516,246 and 148,516,246 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 1,485 1,485
Additional paid-in capital 1,313,297 1,313,297
Cumulative distributions in excess of net income (1,091,495) (1,058,223)
Total stockholders’ equity 223,287 256,559
Total liabilities and equity $ 1,800,569 $ 1,823,445