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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Real estate assets:    
Land $ 146,844 $ 189,155
Buildings and improvements 1,457,209 1,938,629
Fixtures and equipment 11,404 12,949
Total real estate assets, gross 1,615,457 2,140,733
Less accumulated depreciation 424,487 538,717
Real estate assets, net 1,190,970 1,602,016
Acquired real estate leases, less accumulated amortization of $40,423 and $55,447, respectively 14,934 28,206
Cash, cash equivalents and restricted cash 40,751 4,150
Tenant rent receivables 1,954 7,656
Straight-line rent receivable 49,024 67,789
Prepaid expenses and other assets 4,031 5,752
Related party mortgage loan receivable 24,000 21,000
Office computers and furniture, net of accumulated depreciation of $1,198 and $1,443, respectively 198 163
Deferred leasing commissions, net of accumulated amortization of $21,099 and $30,411, respectively 38,311 56,452
Total assets 1,364,173 1,793,184
Liabilities:    
Bank note payable   3,500
Term loans payable, less unamortized financing costs of $714 and $2,677, respectively 274,286 717,323
Series A & Series B Senior Notes, less unamortized financing costs of $658 and $822, respectively 199,342 199,178
Accounts payable and accrued expenses 89,493 72,058
Accrued compensation 4,704 3,918
Tenant security deposits 6,219 8,677
Lease liability 1,159 1,536
Other liabilities: derivative liabilities 5,239 17,311
Acquired unfavorable real estate leases, less accumulated amortization of $2,285 and $4,031, respectively 528 1,592
Total liabilities 580,970 1,025,093
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, $.0001 par value, 20,000,000 shares authorized, none issued or outstanding
Common stock, $.0001 par value, 180,000,000 shares authorized, 103,998,520 and 107,328,199 shares issued and outstanding, respectively 10 11
Additional paid-in capital 1,339,226 1,357,131
Accumulated other comprehensive income (loss) (5,239) (17,311)
Distributions in excess of accumulated earnings (550,794) (571,740)
Total stockholders' equity 783,203 768,091
Total liabilities and stockholders' equity $ 1,364,173 $ 1,793,184