v3.26.1
Real Estate Acquisitions, Dispositions, And Assets Held For Sale
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Real Estate Acquisitions, Disposition And Assets Held For Sale REAL ESTATE ACQUISITION, DISPOSITION, AND ASSET HELD FOR SALE
Acquisition
During the first quarter of 2026, the Company acquired one real estate property as detailed in the table below. The property is 100% leased to a tenant with a lease expiration in 2044. Amounts reflected in revenues and net income for the property for the three months ended March 31, 2026 were approximately $0.4 million and $0.3 million, respectively, and transaction costs totaling approximately $19.2 thousand were capitalized relating to the property acquisition.

The following table summarizes our property acquisitions for the three months ended March 31, 2026:
Location
Property
Type (1)
Number of PropertiesDate
Acquired		Purchase
Price		Cash
Consideration		Real Estate
Other (2)
Square Footage
(000's)(000's)(000's)(000's)
Pinellas Park, FLIRF12/19/2026$28,500 $28,514 $28,519 $(5)37,151 
$28,500 $28,514 $28,519 $(5)37,151 
(1) IRF - Inpatient Rehabilitation Facility
(2) May include items including, but not limited to, other assets, liabilities assumed, and security deposits.

The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the three months ended March 31, 2026:
Estimated Fair ValueWeighted Average Useful Life
(In thousands)(In years)
Land and land improvements7,877 22.0
Buildings and building improvements20,642 50.0
Accounts payable, accrued liabilities and other liabilities acquired(5)
Total cash consideration$28,514 

Asset Disposition and Asset Held for Sale
During the first quarter of 2026, the Company sold a property, received net proceeds of approximately $5.2 million, and recorded an immaterial loss on sale. The property was classified as held for sale at December 31, 2025. During the first quarter of 2026, the Company also received net cash proceeds of approximately $0.7 million for a property disposed of during the fourth quarter of 2025.

The following table includes the asset held for sale at December 31, 2025. The Company had no assets held for sale at March 31, 2026.

(Dollars in thousands)March 31, 2026December 31, 2025
Balance Sheet data:
  Land$— $1,047 
  Building, improvements, and lease intangibles— 6,604 
— 7,651 
 Accumulated depreciation— (2,386)
    Asset held for sale, net$— $5,265