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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Real estate, at cost:    
Land $ 472,330 $ 460,896
Buildings and improvements 1,209,333 1,149,809
Total real estate, at cost 1,681,663 1,610,705
Less accumulated depreciation (110,632) (101,210)
Property under development 21,800 29,198
Real estate held for investment, net 1,592,831 1,538,693
Assets held for sale 58,856 52,451
Mortgage loans receivable, net 124,617 114,472
Cash, cash equivalents and restricted cash 22,334 29,929
Lease intangible assets, net 165,507 161,354
Other assets, net 61,402 49,337
Total assets 2,025,547 1,946,236
Liabilities:    
Term loans, net 621,500 521,912
Revolving credit facility 75,000 80,000
Mortgage note payable, net 7,876 7,883
Lease intangible liabilities, net 24,639 25,353
Liabilities related to assets held for sale 1,110 1,158
Accounts payable, accrued expenses and other liabilities 26,265 36,498
Total liabilities 756,390 672,804
Total liabilities
Equity:    
Stockholders’ equity 733 732
Additional paid-in capital 1,368,312 1,367,505
Distributions in excess of retained earnings (126,270) (112,276)
Distributions in excess of retained earnings 18,020 8,943
Accumulated other comprehensive income 1,260,795 1,264,904
Total stockholders’ equity 8,362 8,528
Noncontrolling interests 1,269,157 1,273,432
Total equity $ 2,025,547 $ 1,946,236