v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Real estate, at cost $ 1,427,631 $ 1,390,445
Less: accumulated depreciation 393,032 359,513
Total real estate, net 1,034,599 1,030,932
Lease intangibles, net 111,240 115,579
Real estate and related assets held for sale 0 11,260
Cash and cash equivalents 10,752 10,810
Restricted cash 6,452 5,781
Funds held in escrow 2,447 5,336
Right-of-use assets from operating leases 3,507 3,707
Right-of-use assets from finance leases, net 2,816 2,877
Deferred rent receivable, net 48,884 47,922
Other assets 25,050 12,729
TOTAL ASSETS 1,245,747 1,246,933
LIABILITIES    
Mortgage notes payable, net 242,125 250,193
Borrowings under Revolver 59,470 37,370
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 398,219 397,702
Senior unsecured notes, net 158,457 158,201
Deferred rent liability, net 16,334 17,191
Operating lease liabilities 3,621 3,816
Finance lease liabilities 2,981 2,964
Asset retirement obligation 5,616 5,363
Accounts payable and accrued expenses 22,942 10,959
Liabilities related to assets held for sale 0 397
TOTAL LIABILITIES 927,643 905,000
Commitments and contingencies [1]
MEZZANINE EQUITY    
Series E and G redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 10,750,886 and 10,750,886 shares authorized; and 7,052,334 and 7,052,334 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively [2] 170,041 170,041
EQUITY    
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 378,766 and 379,223 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively [2] 1 1
Common stock, par value $0.001 per share, 62,639,994 and 62,599,663 shares authorized; and 48,407,375 and 48,406,993 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively [2] 48 48
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 25,659,120 and 25,699,451 shares authorized and 716,971 and 750,247 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively [2] 1 1
Additional paid in capital 842,904 841,574
Accumulated other comprehensive income 17,993 3,314
Distributions in excess of accumulated earnings (712,987) (673,168)
TOTAL STOCKHOLDERS' EQUITY 147,960 171,770
OP Units held by Non-controlling OP Unitholders [2] 103 122
TOTAL EQUITY 148,063 171,892
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 1,245,747 1,246,933
Related Party    
LIABILITIES    
Other liabilities [3] 2,700 3,223
Nonrelated Party    
LIABILITIES    
Other liabilities $ 15,178 $ 17,621
[1] Refer to Note 6 “Commitments and Contingencies”
[2] Refer to Note 7 “Equity and Mezzanine Equity”
[3] Refer to Note 2 “Related Party Transactions”