v3.26.3
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Investment properties held and used:    
Land $ 319,666 $ 330,456
Building and other improvements 1,234,371 1,245,978
Total 1,554,037 1,576,434
Less accumulated depreciation (463,565) (435,242)
Net investment properties held and used 1,090,472 1,141,192
Cash and cash equivalents 11,388 7,951
Restricted cash 410 468
Accounts and rent receivable 24,722 26,845
Acquired lease intangible assets, net 33,599 39,355
Operating lease right-of-use asset, net 12,729 12,992
Other assets 30,904 19,125
Total assets 1,204,224 1,247,928
Liabilities:    
Mortgages and credit facility payable, net 801,730 837,475
Accounts payable and accrued expenses 12,854 10,641
Operating lease liability 25,845 25,598
Distributions payable 4,891 4,899
Acquired intangible liabilities, net 28,232 30,761
Due to related parties 2,786 2,700
Other liabilities 8,725 10,496
Total liabilities 885,063 922,570
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, 35,995,406 and 36,110,108 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 36 36
Additional paid in capital 814,456 816,279
Accumulated distributions and net loss (514,787) (498,065)
Accumulated other comprehensive income 19,456 7,108
Total stockholders’ equity 319,161 325,358
Total liabilities and stockholders’ equity $ 1,204,224 $ 1,247,928