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Subsequent Events
6 Months Ended
Jun. 30, 2023
Subsequent Events  
Subsequent Events

10.  Subsequent Events

On July 7, 2023, the Board of Directors of the Company declared a cash distribution of $0.01 per share of common stock payable on August 10, 2023 to stockholders of record on July 21, 2023.

Subsequent to June 30, 2023, the Company executed purchase and sale agreements with three different unrelated purchasers for the potential sale of three properties that would result in aggregate gross proceeds of approximately $156 million. These transactions remain subject to customary closing conditions, including successful completion by the purchasers of due diligence inspection periods. If successful, these transactions are expected to close during the fourth quarter of 2023 and the proceeds are intended to be used primarily for the repayment of debt.