v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investments in real estate:    
Land, buildings and improvements $ 220,222 $ 218,799
Net investments in finance leases 0 41,878
In-place lease intangible assets and other 40,158 45,160
Above-market rent intangible assets 7,314 10,760
Investments in real estate 267,694 316,597
Accumulated depreciation and amortization (100,279) (102,926)
Assets held for sale, net 0 96,269
Net investments in real estate 167,415 309,940
Cash and cash equivalents 23,663 119,621
Other assets, net 9,825 23,810
Total assets [1] 200,903 453,371
Liabilities and Equity    
Non-recourse mortgage 21,900 21,900
Accounts payable, accrued expenses and other liabilities 9,968 56,104
Below-market rent intangible liabilities, net 1,307 1,990
Dividends payable 0 75,552
Total liabilities [1] 33,175 155,546
Commitments and contingencies (Note 9)
Preferred stock, $0.001 par value, $5,000,000 shares authorized; none issued 0 0
Common stock, $0.001 par value, $45,000,000 shares authorized; $14,814,075 shares issued and outstanding 15 15
Additional paid-in capital 855,813 855,813
Distributions in excess of accumulated earnings (691,995) (561,917)
Total shareholders’ equity 163,833 293,911
Noncontrolling interests 3,895 3,914
Total equity 167,728 297,825
Total liabilities and equity $ 200,903 $ 453,371
[1] See Note 2 for details related to variable interest entities (“VIEs”).