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Subsequent Events

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Distributions

On October 10, 2023, our Board of Directors declared the following monthly distributions for the months of October, November and December of 2023:

Record Date						Payment Date						Common Stock and Non-controlling OP Unit Distributions per Share						Series E Preferred Distributions per Share						Series G Preferred Distributions per Share
October 20, 2023						October 31, 2023						$	0.10					$	0.138021					$	0.125
November 20, 2023						November 30, 2023						0.10						0.138021						0.125
December 18, 2023						December 29, 2023						0.10						0.138021						0.125
												$	0.30					$	0.414063					$	0.375

Senior Common Stock Distributions

Payable to the Holders of Record During the Month of:

Payment Date

Distribution per Share

October

November 3, 2023

$

0.0875

November

December 5, 2023

0.0875

December

January 5, 2024

0.0875

$

0.2625

Series F Preferred Stock Distributions

Record Date

Payment Date

Distribution per Share

October 25, 2023

November 3, 2023

$

0.125

November 28, 2023

December 5, 2023

0.125

December 27, 2023

January 5, 2024

0.125

$

0.375

Equity Activity

Subsequent to September 30, 2023 and through November 6, 2023, we raised $0.1 million in net proceeds from the sale of 4,318 shares of Series F Preferred Stock.

Acquisition Activity

On October 12, 2023, we purchased a 69,920 square foot industrial property in Allentown, Pennsylvania for $7.8 million. The property is fully leased to one tenant on a 20-year lease.

On November 3, 2023, we purchased a 67,709 square foot industrial property in Indianapolis, Indiana for $4.5 million. The property is fully leased to one tenant on a 20-year lease.

Sale Activity

On October 2, 2023, we sold our 146,483 square foot office property in Columbia, South Carolina for $7.0 million. We realized a $2.9 million gain on sale, net.

Financing Activity

On October 2, 2023, we repaid $9.0 million in fixed rate debt, collateralized by one property, at an interest rate of 4.04%. We realized a $2.8 million gain on debt extinguishment.

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- References

No definition available.

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- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//855/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483399/855-10-50-2

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