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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate assets:    
Land [1] $ 594,355 $ 599,283
Buildings and improvements [1] 1,161,414 1,173,106
Real estate assets [1] 1,755,769 1,772,389
Accumulated depreciation [1] (49,188) (19,939)
Real estate investment property, net, before developments in progress [1] 1,706,581 1,752,450
Developments in progress [1] 18,493 16,665
Net investment in real estate assets [1] 1,725,074 1,769,115
Cash and cash equivalents [1] 185,744 169,554
Available-for-sale securities - at fair value (amortized cost of $149,936 and $149,999 as of March 31, 2022 and December 31, 2021, respectively) [1] 149,975 149,996
Receivables:    
Tenant [1] 21,818 25,190
Other [1] 5,356 4,793
Investments in unconsolidated affiliates [1] 100,685 103,655
In-place leases, net [1] 341,152 384,705
Above market leases, net [1] 216,648 234,286
Intangible lease assets and other assets [1] 102,872 104,685
Total assets [1] 2,849,324 2,945,979
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgage and other indebtedness, net 1,639,469 1,813,209
Below market leases, net 141,388 151,871
Accounts payable and accrued liabilities 159,531 184,404
Total liabilities 2,335,981 2,544,879
Common stock, $.001 par value, 200,000,000 shares authorized, 31,807,511 and 20,774,716 issued and outstanding in 2022 and 2021, respectively 32 21
Shareholders' equity:    
Additional paid-in capital 702,996 547,726
Accumulated other comprehensive income (loss) 39 (3)
Accumulated deficit (192,267) (151,545)
Total shareholders' equity 510,800 396,199
Noncontrolling interests 2,543 4,901
Total equity 513,343 401,100
Total liabilities, redeemable noncontrolling interests and equity 2,849,324 2,945,979
Senior Notes    
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
10% senior secured notes - at fair value (carrying amount of $395,000 as of March 31, 2022 and December 31, 2021, respectively) $ 395,593 $ 395,395
[1] As of March 31, 2022, includes $254,237 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $142,132 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 7.