v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real Estate:    
Land, at Cost $ 166,572 $ 151,628
Building and Improvements, at Cost 349,449 344,138
Total Real Estate, at Cost 516,021 495,766
Less, Accumulated Depreciation (62,863) (54,446)
Real Estate-Net 453,158 441,320
Assets Held for Sale 375 8,077
Commercial Loans and Investments 238,575 167,553
Cash and Cash Equivalents 2,778 4,589
Restricted Cash 23,296 34,410
Intangible Lease Assets-Net 46,151 48,925
Straight-Line Rent Adjustment 2,406 2,092
Other Assets 14,774 8,908
Total Assets 781,513 715,874
Liabilities:    
Accounts Payable, Accrued Expenses, and Other Liabilities 14,093 7,877
Prepaid Rent and Deferred Revenue 17,661 14,031
Intangible Lease Liabilities-Net 4,602 4,971
Obligation Under Participation Agreement 19,062 10,000
Long-Term Debt-Net 367,552 377,739
Total Liabilities 422,970 414,618
Commitments and Contingencies-See Note 20
Equity:    
Preferred Stock, 100 million shares authorized, $0.01 par value, 8.00% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 2,425,868 shares issued and outstanding as of June 30, 2026 and 2,083,328 shares issued and outstanding as of December 31, 2025 24 21
Common Stock, $0.01 par value per share, 500 million shares authorized, 17,595,168 shares issued and outstanding as of June 30, 2026 and 14,783,419 shares issued and outstanding as of December 31, 2025 176 148
Additional Paid-in Capital 375,337 313,690
Dividends in Excess of Net Income (41,394) (35,276)
Accumulated Other Comprehensive Income 3,148 1,293
Stockholders' Equity 337,291 279,876
Noncontrolling Interest 21,252 21,380
Total Equity 358,543 301,256
Total Liabilities and Equity $ 781,513 $ 715,874