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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Real estate, at cost:    
Land $ 424,821 $ 401,146
Buildings and improvements 1,005,884 907,084
Total real estate, at cost 1,430,705 1,308,230
Less accumulated depreciation (80,527) (62,526)
Property under development 24,192 16,796
Real estate held for investment, net 1,374,370 1,262,500
Assets held for sale 37,915 23,208
Mortgage loans receivables, net 107,758 46,378
Cash, cash equivalents and restricted cash 13,140 70,543
Lease intangible assets, net 158,067 151,006
Other assets, net 56,508 52,057
Total assets 1,747,758 1,605,692
Liabilities:    
Term loans, net 372,686 373,296
Revolving credit facility 106,000 113,000
Mortgage note payable, net 7,896 7,896
Lease intangible liabilities, net 27,434 30,131
Liabilities related to assets held for sale 83 406
Accounts payable, accrued expenses and other liabilities 29,064 22,540
Total liabilities 543,163 547,269
Commitments and contingencies
Stockholders’ equity    
Common stock, $0.01 par value, 400,000,000 shares authorized; 66,991,597 and 58,031,879 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 670 580
Additional paid-in capital 1,260,879 1,091,514
Distributions in excess of retained earnings (90,329) (66,937)
Accumulated other comprehensive income 24,082 23,673
Total stockholders’ equity 1,195,302 1,048,830
Noncontrolling interests 9,293 9,593
Total equity 1,204,595 1,058,423
Total liabilities and equity $ 1,747,758 $ 1,605,692