Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate, at cost $ 1,172,548 $ 1,128,683
Less: accumulated depreciation 257,050 228,468
Total real estate, net 915,498 900,215
Lease intangibles, net 111,782 117,379
Real estate and related assets held for sale 4,005 8,498
Cash and cash equivalents 10,230 11,016
Restricted cash 4,972 5,060
Funds held in escrow 8,888 9,145
Right-of-use assets from operating leases 5,432 5,582
Deferred rent receivable, net 38,203 36,555
Other assets 5,784 4,458
TOTAL ASSETS 1,104,794 1,097,908
LIABILITIES    
Mortgage notes payable, net [1] 448,001 456,177
Borrowings under Revolver 2,100 53,312
Borrowings under Term Loan, net 223,951 159,203
Deferred rent liability, net 22,459 20,633
Operating lease liabilities 5,571 5,687
Asset retirement obligation 3,151 3,086
Accounts payable and accrued expenses 8,000 4,459
Liabilities related to assets held for sale 13 0
Due to Adviser and Administrator [1] 3,188 2,960
Other liabilities 16,554 17,068
TOTAL LIABILITIES 732,988 722,585
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] 170,264 159,286
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] 37 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 656,790 626,533
Accumulated other comprehensive income (2,075) (4,345)
Distributions in excess of accumulated earnings (454,494) (409,041)
TOTAL STOCKHOLDERS' EQUITY 200,259 213,183
OP Units held by Non-controlling OP Unitholders [3] 1,283 2,854
TOTAL EQUITY 201,542 216,037
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY $ 1,104,794 $ 1,097,908
[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”