Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Real estate investments, at cost:    
Land $ 223,439 $ 223,264
Buildings, fixtures and improvements 1,081,788 1,097,132
Total real estate investments, at cost 1,305,227 1,320,396
Less: accumulated depreciation 165,490 158,791
Total real estate investments, net 1,139,737 1,161,605
Accounts receivable, net 24,942 24,663
Intangible lease assets, net 110,145 126,364
Cash and cash equivalents 23,618 22,473
Other assets, net 87,077 88,828
Total assets 1,385,519 1,423,933
LIABILITIES AND EQUITY    
Mortgages payable, net 353,028 352,856
Credit facility revolver 116,000 116,000
Accounts payable and accrued expenses 23,732 30,479
Below-market lease liabilities, net 6,753 8,074
Distributions payable 5,587 5,578
Other liabilities, net 24,468 23,943
Total liabilities 529,568 536,930
Common stock, $0.001 par value, 100,000,000 shares authorized 55,869,819 and 55,783,548 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 56 56
Additional paid-in capital 1,145,264 1,144,636
Accumulated other comprehensive loss (45) (264)
Accumulated deficit (290,710) (258,805)
Total stockholders’ equity 854,565 885,623
Non-controlling interest 1,386 1,380
Total equity 855,951 887,003
Total liabilities and equity $ 1,385,519 $ 1,423,933