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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate assets:    
Land $ 131,556 $ 146,844
Buildings and improvements 1,397,303 1,457,209
Fixtures and equipment 10,656 11,404
Total real estate assets, gross 1,539,515 1,615,457
Less accumulated depreciation 420,532 424,487
Real estate assets, net 1,118,983 1,190,970
Acquired real estate leases, less accumulated amortization of $19,535 and $40,423, respectively 11,177 14,934
Cash, cash equivalents and restricted cash 8,717 40,751
Tenant rent receivables 1,309 1,954
Straight-line rent receivable 50,885 49,024
Prepaid expenses and other assets 6,961 4,031
Related party mortgage loan receivable less allowance for credit loss of $1,857 and $0, respectively 22,143 24,000
Other assets: derivative asset 4,266  
Office computers and furniture, net of accumulated depreciation of $1,099 and $1,198, respectively 170 198
Deferred leasing commissions, net of accumulated amortization of $20,826 and $21,099, respectively 37,459 38,311
Total assets 1,262,070 1,364,173
Liabilities:    
Bank note payable 65,000  
Term loans payable, less unamortized financing costs of $308 and $714, respectively 164,692 274,286
Series A & Series B Senior Notes, less unamortized financing costs of $535 and $658, respectively 199,465 199,342
Accounts payable and accrued expenses 50,371 89,493
Accrued compensation 3,159 4,704
Tenant security deposits 5,726 6,219
Lease liability 862 1,159
Other liabilities: derivative liabilities   5,239
Acquired unfavorable real estate leases, less accumulated amortization of $536 and $2,285, respectively 234 528
Total liabilities 489,509 580,970
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, 103,235,914 and 103,998,520 shares issued and outstanding, respectively 10 10
Additional paid-in capital 1,334,776 1,339,226
Accumulated other comprehensive income (loss) 4,266 (5,239)
Distributions in excess of accumulated earnings (566,491) (550,794)
Total stockholders' equity 772,561 783,203
Total liabilities and stockholders' equity $ 1,262,070 $ 1,364,173