Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Real estate investments, at cost:    
Land $ 234,980 $ 223,264
Buildings, fixtures and improvements 1,089,798 1,097,132
Total real estate investment, at cost 1,324,778 1,320,396
Less: accumulated depreciation 180,683 158,791
Total real estate investments, net 1,144,095 1,161,605
Accounts receivable, net 24,144 24,663
Intangible lease assets, net 101,501 126,364
Cash and cash equivalents 16,564 22,473
Other assets, net 82,567 88,828
Total assets 1,368,871 1,423,933
LIABILITIES AND EQUITY    
Mortgages payable, net 353,373 352,856
Credit facility revolver 130,000 116,000
Accounts payable and accrued expenses 32,237 30,479
Below-market lease liabilities, net 21,328 8,074
Distributions payable 5,595 5,578
Other liabilities, net 24,010 23,943
Total liabilities 566,543 536,930
Common stock, $0.001 par value, 100,000,000 shares authorized 55,947,802 and 55,783,548 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 56 56
Additional paid-in capital 1,146,924 1,144,636
Accumulated other comprehensive loss (102) (264)
Accumulated deficit (345,946) (258,805)
Total stockholders’ equity 800,932 885,623
Non-controlling interest 1,396 1,380
Total equity 802,328 887,003
Total liabilities and equity $ 1,368,871 $ 1,423,933