v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate assets:    
Land $ 95,782 $ 98,883
Buildings and improvements 1,053,670 1,091,728
Fixtures and equipment 11,220 11,572
Total real estate assets, gross 1,160,672 1,202,183
Less accumulated depreciation 402,633 408,461
Real estate assets, net 758,039 793,722
Acquired real estate leases, less accumulated amortization of $15,468 and $14,648, respectively 1,670 2,490
Assets held for sale 17,987  
Cash, cash equivalents and restricted cash 22,459 30,571
Tenant rent receivables 1,436 471
Straight-line rent receivable 37,411 38,744
Prepaid expenses and other assets 4,445 4,080
Office computers and furniture, net of accumulated depreciation of $990 and $1,047, respectively 132 136
Deferred leasing commissions, net of accumulated amortization of $13,832 and $14,571, respectively 21,275 22,670
Total assets 864,854 892,884
Liabilities:    
Initial Term Loans, less unamortized financing costs and OID of $21,864 253,136  
Term loans payable, less unamortized financing costs of $441   125,555
Series A & Series B Senior Notes, less unamortized financing costs of $236   122,686
Accounts payable and accrued expenses 24,220 28,724
Accrued compensation 349 2,394
Tenant security deposits 6,207 6,198
Lease liability 923 316
Acquired unfavorable real estate leases, less accumulated amortization of $59 and $56, respectively 31 34
Total liabilities 284,866 285,907
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, $.0001 par value, 20,000,000 shares authorized, none issued or outstanding
Common stock, $.0001 par value, 180,000,000 shares authorized, 104,011,708 and 103,690,340 shares issued and outstanding, respectively 10 10
Additional paid-in capital 1,335,766 1,335,586
Accumulated distributions in excess of accumulated earnings (755,788) (728,619)
Total stockholders' equity 579,988 606,977
Total liabilities and stockholders' equity $ 864,854 $ 892,884