v3.26.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investment properties held and used:    
Land $ 319,666 $ 330,456
Building and other improvements 1,230,713 1,245,978
Total 1,550,379 1,576,434
Less accumulated depreciation (450,930) (435,242)
Net investment properties held and used 1,099,449 1,141,192
Cash and cash equivalents 10,831 7,951
Restricted cash 412 468
Accounts and rent receivable 25,726 26,845
Acquired lease intangible assets, net 35,488 39,355
Operating lease right-of-use asset, net 12,816 12,992
Other assets 22,580 19,125
Total assets 1,207,302 1,247,928
Liabilities:    
Mortgages and credit facility payable, net 806,403 837,475
Accounts payable and accrued expenses 10,968 10,641
Operating lease liability 25,762 25,598
Distributions payable 4,891 4,899
Acquired intangible liabilities, net 29,270 30,761
Due to related parties 2,945 2,700
Other liabilities 8,591 10,496
Total liabilities 888,830 922,570
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding
Common stock, $.001 par value, 1,460,000,000 shares authorized, 36,052,080 and 36,110,108 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 36 36
Additional paid in capital 815,374 816,279
Accumulated distributions and net loss (509,037) (498,065)
Accumulated other comprehensive income 12,099 7,108
Total stockholders’ equity 318,472 325,358
Total liabilities and stockholders’ equity $ 1,207,302 $ 1,247,928