SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS The Company evaluates subsequent events until the date these condensed consolidated financial statements are issued. Significant subsequent events are described below: Agreement and Plan of Merger with Global Net Lease, Inc. On August 10, 2026, the Company held a special meeting of its stockholders, at which the Company’s stockholders approved the Merger and the other transactions contemplated by the Merger Agreement. Preferred Dividends On May 7, 2026, the Board authorized and the Company declared Series A Preferred Stock dividends payable of $0.8 million for the second quarter of 2026, which were paid on July 15, 2026. Common Stock and OP Unit Distributions On March 17, 2026, the Board authorized and the Company declared monthly distributions of $0.10 per share payable to common stockholders and OP Unit holders of record as of June 30, 2026, which were paid on July 15, 2026. On June 10, 2026, the Board authorized and the Company declared monthly distributions of $0.10 per share payable to common stockholders and OP Unit holders of record as of July 31, 2026 and August 3, 2026, which were paid on August 10, 2026. The per share monthly distribution rate of $0.10 per share of Common Stock is equivalent to an annualized rate of $1.20 per share.
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