Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate, at cost $ 1,152,302 $ 1,128,683
Less: accumulated depreciation 249,797 228,468
Total real estate, net 902,505 900,215
Lease intangibles, net 111,084 117,379
Real estate and related assets held for sale 0 8,498
Cash and cash equivalents 14,632 11,016
Restricted cash 4,607 5,060
Funds held in escrow 8,268 9,145
Right-of-use assets from operating leases 5,473 5,582
Deferred rent receivable, net 37,713 36,555
Other assets 4,942 4,458
TOTAL ASSETS 1,089,224 1,097,908
LIABILITIES    
Mortgage notes payable, net [1] 451,188 456,177
Borrowings under Revolver, net 0 53,312
Borrowings under Term Loan, net 208,871 159,203
Deferred rent liability, net 19,371 20,633
Operating lease liabilities 5,604 5,687
Asset retirement obligation 3,142 3,086
Accounts payable and accrued expenses 7,957 4,459
Due to Adviser and Administrator [1] 3,089 2,960
Other liabilities 15,000 17,068
TOTAL LIABILITIES 714,222 722,585
Commitments and contingencies [2]
MEZZANINE EQUITY    
Series D and E redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 12,760,000 shares authorized; and 6,571,003 and 6,571,003 shares issued and outstanding at March 31, 2021 and December 31, 2020 [3] 170,278 159,286
EQUITY    
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 706,152 and 750,372 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively [3] 1 1
Common stock, par value $0.001 per share, 60,290,000 and 60,290,000 shares authorized and 36,224,499 and 35,331,970 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively [3] 36 35
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 26,000,000 and 26,000,000 shares authorized and 118,174 and 116,674 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively [3] 0 0
Additional paid in capital 648,112 626,533
Accumulated other comprehensive income (2,641) (4,345)
Distributions in excess of accumulated earnings (442,122) (409,041)
TOTAL STOCKHOLDERS' EQUITY 203,386 213,183
OP Units held by Non-controlling OP Unitholders [3] 1,338 2,854
TOTAL EQUITY 204,724 216,037
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY $ 1,089,224 $ 1,097,908
Common stock, shares authorized (in shares) 59,799,555 60,290,000
[1] Refer to Note 2 “Related-Party Transactions”
[2] Refer to Note 7 “Commitments and Contingencies”
[3] Refer to Note 8 “Equity and Mezzanine Equity”