XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.25.1

Subsequent Events | 3 Months Ended
--- | ---
Mar. 31, 2025
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Distributions On April 8, 2025, our Board of Directors declared the following monthly distributions for the months of April, May and June of 2025:
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
April 21, 2025 |  | April 30, 2025 |  | $ | 0.10 |  |  | $ | 0.138021 |  |  | $ | 0.125 |
May 21, 2025 |  | May 30, 2025 |  | 0.10 |  |  | 0.138021 |  |  | 0.125 |
June 20, 2025 |  | June 30, 2025 |  | 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
April |  | May 5, 2025 |  | $ | 0.0875 |
May |  | June 5, 2025 |  | 0.0875 |
June |  | July 3, 2025 |  | 0.0875 |
|  |  |  | $ | 0.2625 |
Series F Preferred Stock Distributions
Record Date |  | Payment Date |  | Distribution per Share
April 25, 2025 |  | May 5, 2025 |  | $ | 0.125 |
May 27, 2025 |  | June 5, 2025 |  | 0.125 |
June 25, 2025 |  | July 3, 2025 |  | 0.125 |
|  |  |  | $ | 0.375 |
Equity Activity Subsequent to March 31, 2025 and through May 7, 2025, we raised $7.2 million in net proceeds from the sale of 525,192 shares of common stock under our 2024 Common Stock Sales Agreement and we raised $0.1 million in net proceeds from the sale of 2,200 shares of Series F Preferred Stock. Sale Activity On April 1, 2025, we sold our 60,000 square foot property in Hickory, North Carolina for $5.1 million. We realized a $0.4 million gain on sale. On April 30, 2025, we completed the transaction to sell our 676,031 square foot property in Tifton, Georgia for $18.5 million, incurring $0.4 million in closing costs. During the year ended December 31, 2024, we recorded a sales-type lease receivable related and derecognized the carry value of this property, recognizing a $3.9 million selling profit from sales-type lease, net, that was included in the gain on sale of real estate, net, in the consolidated statement of operations. Financing Activity On April 30, 2025, we fully repaid one mortgage with an outstanding balance of $7.2 million collateralized by one property. This mortgage had a variable interest rate of SOFR + 2.25%.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration