Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate investments, at cost:    
Land $ 227,145 $ 223,264
Buildings, fixtures and improvements 1,055,307 1,097,132
Total real estate investments, at cost 1,282,452 1,320,396
Less: accumulated depreciation 177,906 158,791
Total real estate investments, net 1,104,546 1,161,605
Accounts receivable, net 22,833 24,663
Intangible lease assets, net 95,944 126,364
Cash and cash equivalents 15,600 22,473
Real estate assets held for sale, net 9,671 0
Other assets, net 87,828 88,828
Total assets 1,336,422 1,423,933
LIABILITIES AND EQUITY    
Mortgages payable, net 371,222 352,856
Credit facility revolver 119,000 116,000
Accounts payable and accrued expenses 31,585 30,479
Below-market lease liabilities, net 20,596 8,074
Distributions payable 5,633 5,578
Other liabilities, net 23,130 23,943
Total liabilities 571,166 536,930
Common stock, $0.001 par value, 100,000,000 shares authorized 55,951,876 and 55,783,548 shares issued and outstanding as of each of December 31, 2024 and December 31, 2023, respectively 56 56
Additional paid-in capital 1,148,223 1,144,636
Accumulated other comprehensive loss (15) (264)
Accumulated deficit (384,348) (258,805)
Total stockholders’ equity 763,916 885,623
Non-controlling interest 1,340 1,380
Total equity 765,256 887,003
Total liabilities and equity $ 1,336,422 $ 1,423,933