v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate investments, at cost:    
Land $ 114,099 $ 129,517
Buildings and improvements 318,272 341,314
Acquired intangible assets 7,761 19,063
Total real estate investments, at cost 440,132 489,894
Less accumulated depreciation and amortization (78,102) (91,135)
Total real estate investments, net 362,030 398,759
Cash and cash equivalents 5,313 9,776
Restricted cash 7,525 9,159
Operating lease right-of-use asset 54,401 54,514
Prepaid expenses and other assets 5,868 5,233
Straight-line rent receivable 22,592 23,060
Deferred leasing costs, net 6,265 6,565
Total assets 463,994 507,066
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Mortgage notes payable, net 348,223 347,384
Accounts payable, accrued expenses and other liabilities (including amounts due to related parties of $53 and $317 at June 30, 2025 and December 31, 2024, respectively) 22,305 15,302
Operating lease liability 54,555 54,592
Below-market lease liabilities, net 821 1,161
Deferred revenue 2,572 3,041
Total liabilities 428,476 421,480
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value, 300,000,000 shares authorized, 2,634,355 and 2,634,355 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 27 27
Additional paid-in capital 731,613 731,429
Accumulated other comprehensive income 0 0
Distributions in excess of accumulated earnings (696,122) (645,870)
Total equity 35,518 85,586
Total liabilities and equity $ 463,994 $ 507,066