v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real Estate:    
Land, at Cost $ 175,167 $ 151,628
Building and Improvements, at Cost 373,114 344,138
Total Real Estate, at Cost 548,281 495,766
Less, Accumulated Depreciation (66,967) (54,446)
Real Estate - Net 481,314 441,320
Assets Held for Sale 966 8,077
Commercial Loans and Investments 231,421 167,553
Cash and Cash Equivalents 11,722 4,589
Restricted Cash 19,139 34,410
Intangible Lease Assets - Net 47,888 48,925
Straight-Line Rent Adjustment 2,597 2,092
Other Assets 26,059 8,908
Total Assets 821,106 715,874
Liabilities:    
Accounts Payable, Accrued Expenses, and Other Liabilities 16,647 7,877
Prepaid Rent and Deferred Revenue 14,286 14,031
Intangible Lease Liabilities - Net 6,120 4,971
Obligation Under Participation Agreement 18,519 10,000
Long-Term Debt - Net 396,676 377,739
Total Liabilities 452,248 414,618
Commitments and Contingencies - See Note 20
Equity:    
Preferred Stock, 100 million shares authorized, $0.01 par value per share, 8.00% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 2,489,747 shares issued and outstanding as of September 30, 2026 and 2,083,328 shares issued and outstanding as of December 31, 2025 25 21
Common Stock, $0.01 par value per share, 500 million shares authorized, 17,935,407 shares issued and outstanding as of September 30, 2026 and 14,783,419 shares issued and outstanding as of December 31, 2025 179 148
Additional Paid-in Capital 383,408 313,690
Dividends in Excess of Net Income (43,689) (35,276)
Accumulated Other Comprehensive Income 7,452 1,293
Stockholders' Equity 347,375 279,876
Noncontrolling Interest 21,483 21,380
Total Equity 368,858 301,256
Total Liabilities and Equity $ 821,106 $ 715,874