Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Real estate, at cost $ 1,230,206 $ 1,221,364
Less: accumulated depreciation 311,433 299,662
Total real estate, net 918,773 921,702
Lease intangibles, net 95,935 101,048
Real estate and related assets held for sale 4,179 28,787
Cash and cash equivalents 10,416 11,985
Restricted cash 4,003 4,150
Funds held in escrow 5,497 7,515
Right-of-use assets from operating leases 4,083 4,889
Deferred rent receivable, net 42,864 41,006
Other assets 19,796 12,389
TOTAL ASSETS 1,105,546 1,133,471
LIABILITIES    
Mortgage notes payable, net 273,783 295,853
Borrowings under Revolver 81,150 75,750
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 367,603 367,258
Deferred rent liability, net 25,484 29,324
Operating lease liabilities 4,182 5,093
Asset retirement obligation 4,994 4,928
Accounts payable and accrued expenses 16,177 13,588
Liabilities related to assets held for sale 656 676
TOTAL LIABILITIES 789,684 809,164
Commitments and contingencies [1]
MEZZANINE EQUITY    
Mezzanine Equity [2] 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 June 30, 2024 and December 31, 2023, respectively [2] 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 June 30, 2024 and December 31, 2023, respectively [2] 41 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 June 30, 2024 and December 31, 2023, respectively [2] 1 1
Additional paid in capital 742,114 730,256
Accumulated other comprehensive income 13,759 7,758
Distributions in excess of accumulated earnings (610,209) (584,776)
TOTAL STOCKHOLDERS' EQUITY 145,707 153,280
OP Units held by Non-controlling OP Unitholders [2] 114 986
TOTAL EQUITY 145,821 154,266
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 1,105,546 1,133,471
Related Party    
LIABILITIES    
Other liabilities [3] 3,641 2,556
Nonrelated Party    
LIABILITIES    
Other liabilities $ 12,014 $ 14,138
[1] Refer to Note 7 “Commitments and Contingencies”
[2] Refer to Note 8 “Equity and Mezzanine Equity”
[3] Refer to Note 2 “Related-Party Transactions”