Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Real estate, at cost $ 1,214,288 $ 1,221,364
Less: accumulated depreciation 313,730 299,662
Total real estate, net 900,558 921,702
Lease intangibles, net 97,802 101,048
Real estate and related assets held for sale 16,964 28,787
Cash and cash equivalents 10,531 11,985
Restricted cash 3,999 4,150
Funds held in escrow 5,673 7,515
Right-of-use assets from operating leases 4,023 4,889
Deferred rent receivable, net 44,855 41,006
Other assets 11,910 12,389
TOTAL ASSETS 1,096,315 1,133,471
LIABILITIES    
Mortgage notes payable, net 271,621 295,853
Borrowings under Revolver 53,250 75,750
Borrowings under Term Loan A, Term Loan B and Term Loan C, net 367,776 367,258
Deferred rent liability, net 23,599 29,324
Operating lease liabilities 4,123 5,093
Asset retirement obligation 5,027 4,928
Accounts payable and accrued expenses 15,666 13,588
Liabilities related to assets held for sale 169 676
TOTAL LIABILITIES 757,228 809,164
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 399,483 and 406,425 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively [2] 1 1
Common stock, par value $0.001 per share, 62,384,569 and 62,326,818 shares authorized; and 43,728,098 and 40,000,596 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively [2] 43 40
Series F redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 25,914,545 and 25,972,296 shares authorized and 907,941 and 918,601 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively [2] 1 1
Additional paid in capital 780,205 730,256
Accumulated other comprehensive income 3,365 7,758
Distributions in excess of accumulated earnings (614,698) (584,776)
TOTAL STOCKHOLDERS' EQUITY 168,917 153,280
OP Units held by non-controlling OP unitholders [2] 129 986
TOTAL EQUITY 169,046 154,266
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 1,096,315 1,133,471
Related Party    
LIABILITIES    
Other liabilities [3] 3,063 2,556
Nonrelated Party    
LIABILITIES    
Other liabilities $ 12,934 $ 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”