Accounts Payable, Accrued Expenses and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes the components of accounts payable, accrued expenses and other liabilities:


in thousands	June 30, 2026		December 31, 2025
Intangible liabilities, net	$	7,323	$	8,454
Real estate taxes payable	3,768		4,059
Accounts payable and accrued expenses	3,246		2,005
Distributions payable to DST beneficial interest holders	2,870		—
Tenant security deposits	2,486		2,204
Prepaid rental income	2,044		588
Accrued interest expense	1,482		1,382
Common stock repurchases	1,473		1,499
Distributions payable	712		688
Subscriptions received in advance(1)	697		401
Deferred tax liability	207		536
Derivative instruments	—		524
Total	$	26,308	$	22,340

(1)Represents subscriptions received by our transfer agent prior to the date the subscriptions are effective.