Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Real estate, at cost $ 1,279,455 $ 1,225,258
Less: accumulated depreciation 284,802 266,672
Total real estate, net 994,653 958,586
Lease intangibles, net 112,993 114,494
Real estate and related assets held for sale 11,434 0
Cash and cash equivalents 13,540 7,956
Restricted cash 4,146 5,222
Funds held in escrow 9,464 7,304
Right-of-use assets from operating leases 5,189 5,361
Deferred rent receivable, net 38,935 39,066
Other assets 19,314 5,363
TOTAL ASSETS 1,209,668 1,143,352
LIABILITIES    
Mortgage notes payable, net [1] 367,618 449,944
Borrowings under Revolver 7,750 33,550
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 366,395 224,032
Deferred rent liability, net 40,701 26,770
Operating lease liabilities 5,360 5,509
Asset retirement obligation 4,501 3,769
Accounts payable and accrued expenses 10,904 6,736
Liabilities related to assets held for sale 16 0
Due to Adviser and Administrator [1] 3,704 3,431
Other liabilities 15,072 16,788
TOTAL LIABILITIES 822,021 770,529
Commitments and contingencies [2]
MEZZANINE EQUITY    
Series E and G redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 10,760,000 shares authorized; and 7,061,448 and 7,061,448 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively [3] 170,261 170,261
EQUITY    
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 431,064 and 600,061 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively [3] 1 1
Common stock, par value $0.001 per share, 62,292,200 and 62,290,000 shares authorized; and 39,136,473 and 37,473,587 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively [3] 39 37
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 25,997,800 and 26,000,000 shares authorized and 554,822 and 422,920 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively [3] 1 0
Additional paid in capital 717,098 671,134
Accumulated other comprehensive income 12,366 (1,346)
Distributions in excess of accumulated earnings (514,057) (468,523)
TOTAL STOCKHOLDERS' EQUITY 215,448 201,303
OP Units held by Non-controlling OP Unitholders [3] 1,938 1,259
TOTAL EQUITY 217,386 202,562
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY $ 1,209,668 $ 1,143,352
[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”