Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Real estate, at cost $ 1,209,932 $ 1,221,364
Less: accumulated depreciation 304,000 299,662
Total real estate, net 905,932 921,702
Lease intangibles, net 97,663 101,048
Real estate and related assets held for sale 18,297 28,787
Cash and cash equivalents 10,451 11,985
Restricted cash 4,467 4,150
Funds held in escrow 5,334 7,515
Right-of-use assets from operating leases 4,143 4,889
Deferred rent receivable, net 41,912 41,006
Other assets 16,958 12,389
TOTAL ASSETS 1,105,157 1,133,471
LIABILITIES    
Mortgage notes payable, net [1] 275,976 295,853
Borrowings under Revolver 75,950 75,750
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 367,430 367,258
Deferred rent liability, net 27,551 29,324
Operating lease liabilities 4,241 5,093
Asset retirement obligation 4,961 4,928
Accounts payable and accrued expenses 14,256 13,588
Liabilities related to assets held for sale 676 676
TOTAL LIABILITIES 786,865 809,164
Commitments and contingencies [2]
MEZZANINE EQUITY    
Mezzanine Equity [3] 170,041 170,041
EQUITY    
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 402,817 and 406,425 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively [3] 1 1
Common stock, par value $0.001 per share, 62,329,084 and 62,326,818 shares authorized; and 40,003,481 and 40,000,596 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively [3] 40 40
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 25,970,030 and 25,972,296 shares authorized and 929,692 and 918,601 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively [3] 1 1
Additional paid in capital 730,465 730,256
Accumulated other comprehensive income 13,281 7,758
Distributions in excess of accumulated earnings (596,475) (584,776)
TOTAL STOCKHOLDERS' EQUITY 147,313 153,280
OP Units held by Non-controlling OP Unitholders [3] 938 986
TOTAL EQUITY 148,251 154,266
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 1,105,157 1,133,471
Related Party    
LIABILITIES    
Other liabilities [1] 2,922 2,556
Nonrelated Party    
LIABILITIES    
Other liabilities $ 12,902 $ 14,138
[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”