Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Real estate, at cost $ 1,221,364 $ 1,287,297
Less: accumulated depreciation 299,662 286,150
Total real estate, net 921,702 1,001,147
Lease intangibles, net 101,048 111,622
Real estate and related assets held for sale 28,787 3,293
Cash and cash equivalents 11,985 11,653
Restricted cash 4,150 4,339
Funds held in escrow 7,515 8,818
Right-of-use assets from operating leases 4,889 5,131
Deferred rent receivable, net 41,006 38,884
Other assets 12,389 17,746
TOTAL ASSETS 1,133,471 1,202,633
LIABILITIES    
Mortgage notes payable, net [1] 295,853 359,389
Borrowings under Revolver 75,750 23,250
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 367,258 366,567
Deferred rent liability, net 29,324 39,997
Operating lease liabilities 5,093 5,308
Asset retirement obligation 4,928 4,793
Accounts payable and accrued expenses 13,588 9,606
Liabilities related to assets held for sale 676 0
TOTAL LIABILITIES 809,164 826,883
Commitments and contingencies [2]
MEZZANINE EQUITY    
Mezzanine Equity [3] 170,041 170,056
EQUITY    
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 406,425 and 431,064 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively [3] 1 1
Common stock, par value $0.001 per share, 62,326,818 and 62,305,727 shares authorized and 10,000,596 and 39,744,359 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively [3] 40 39
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 25,972,296 and 25,992,787 shares authorized; and 918,601 and 670,895 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively [3] 1 1
Additional paid in capital 730,256 721,327
Accumulated other comprehensive income 7,758 11,640
Distributions in excess of accumulated earnings (584,776) (529,104)
TOTAL STOCKHOLDERS' EQUITY 153,280 203,904
OP Units held by Non-controlling OP Unitholders [3] 986 1,790
TOTAL EQUITY 154,266 205,694
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 1,133,471 1,202,633
Related Party    
LIABILITIES    
Other liabilities [1] 2,556 3,356
Nonrelated Party    
LIABILITIES    
Other liabilities $ 14,138 $ 14,617
[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”