Receivables and Other Assets (Tables) |
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accounts Receivables, Net |
Accounts receivable, net consisted of the following as of June 30, 2024 and December 31, 2023 (in thousands):
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| Schedule of Other Assets, Net |
Other assets, net consisted of the following as of June 30, 2024 and December 31, 2023 (in thousands):
(1)Amortization expense for below market right-of-use asset was less than $0.1 million for the three and six months ended June 30, 2024 and 2023. Includes right-of-use finance leases of $5.6 million, right-of-use operating leases of $10.6 million, and a below-market right-of-use asset, net of $6.5 million as of June 30, 2024. Includes right-of-use finance leases of $9.0 million, right-of-use operating leases of $10.9 million, and a below-market right-of-use asset, net of $6.6 million as of December 31, 2023.
(2)Amortization expense for deferred costs related to the Revolving Facility was $0.7 million and $1.5 million for the three and six months ended June 30, 2024, respectively, as compared to $0.5 million and $1.1 million for the three and six months ended June 30, 2023, respectively. Accumulated amortization for deferred costs related to the Revolving Facility was $5.5 million and $5.1 million as of June 30, 2024 and December 31, 2023, respectively. During the three and six months ended June 30, 2024, the Company capitalized additional deferred costs of $1.0 million in connection with the third amendment to the Credit Agreement, as defined below and discussed in Note 6 – Debt, Net. Also in connection with the third amendment to the Credit Agreement and resulting reduction in borrowing capacity, net deferred costs of $1.1 million were written-off and recognized in loss on extinguishment of debt, net in the consolidated statements of operations during the three and six months ended June 30, 2024. Includes outstanding deferred equity offering costs of $0.6 million, which will be offset against additional paid-in capital for future issuances of shares of the Company’s common stock, as of both June 30, 2024 and December 31, 2023.
(3)Notes receivable includes one short-term and one long-term seller financed promissory note for two properties sold during the year ended December 31, 2023. These loans have been structured as first mortgage loans on the properties sold with an unsecured recourse guaranty from the buyer principal(s).
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