v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Investment in real estate assets, net $ 318,209 $ 352,388
Investment in marketable securities 131 123
Cash and cash equivalents 6,904 7,110
Restricted cash 0 126
Receivables, net of allowance for doubtful accounts of $81 and $111, respectively 6,631 7,834
Deferred leasing costs, net of amortization of $2,000 and $1,957, respectively 1,861 2,036
Prepaid and other assets 3,294 2,859
Total assets 337,030 372,476
LIABILITIES AND STOCKHOLDERS' EQUITY    
Line of credit, net 63,431 77,380
Mortgage loans payable, net 172,197 188,292
Accounts payable and accrued expenses 5,415 6,390
Due to affiliates 16,344 16,572
Note to affiliate 5,383 5,383
Acquired below market lease intangibles, less accumulated amortization of $8,146 and $10,865, respectively 445 7,018
Other liabilities 1,834 1,995
Total liabilities 265,049 303,030
Stockholders' Equity:    
Additional paid in capital 182,224 176,013
Deficit (110,404) (106,721)
Total stockholders' equity 71,981 69,446
Total liabilities and stockholders' equity 337,030 372,476
Class A Shares    
Stockholders' Equity:    
Common stock 30 31
Class D Shares    
Stockholders' Equity:    
Common stock 15 16
Class I Shares    
Stockholders' Equity:    
Common stock 84 87
Class M-I Shares    
Stockholders' Equity:    
Common stock 5 5
Class N Shares    
Stockholders' Equity:    
Common stock 6 6
Class T Shares    
Stockholders' Equity:    
Common stock 1 1
Class T2 Shares    
Stockholders' Equity:    
Common stock 6 6
Class Z Shares    
Stockholders' Equity:    
Common stock $ 14 $ 2