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Receivables and Other Assets (Tables) | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Schedule of Accounts Receivables, Net | Accounts receivable, net consisted of the following as of the periods indicated below (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Accounts receivable, net |  | $ | 5,176 |  |  | $ | 5,852 |
Straight-line rent receivable, net |  | 18,952 |  |  | 16,981 |
Total |  | $ | 24,128 |  |  | $ | 22,833 |
Schedule of Other Assets, Net | Other assets, net consisted of the following as of the periods indicated below (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Restricted cash |  | $ | 39,093 |  |  | $ | 41,570 |
Right-of-use assets, net (1) |  | 21,982 |  |  | 22,216 |
Investment in unconsolidated joint venture |  | 11,576 |  |  | 11,822 |
Notes receivable (2) |  | 11,383 |  |  | 3,900 |
Prepaid expenses |  | 4,604 |  |  | 2,133 |
Deferred costs, net (3) |  | 3,865 |  |  | 4,596 |
Other assets, net |  | 1,493 |  |  | 1,591 |
Total |  | $ | 93,996 |  |  | $ | 87,828 |
____________________________________ (1)Includes right-of-use finance leases of $5.6 million, right-of-use operating leases of $10.0 million and a below-market right-of-use asset, net of $6.4 million, as of March 31, 2025. Includes right-of-use finance leases of $5.6 million, right-of-use operating leases of $10.2 million and a below-market right-of-use asset, net of $6.4 million, as of December 31, 2024. Amortization expense for below market right-of-use asset was less than $0.1 million for the three months ended March 31, 2025 and 2024. (2)Notes receivable includes a member loan to the Arch Street Joint Venture discussed in Note 3 – Real Estate Investments and Related Intangibles – Investment in Unconsolidated Joint Venture of $8.9 million and $1.4 million as of March 31, 2025 and December 31, 2024, respectively. Notes receivable also includes one $2.5 million long-term seller financed promissory note for one property sold during the year ended December 31, 2023, as of March 31, 2025 and December 31, 2024. This loan was structured as first mortgage loan on the property sold with an unsecured recourse guaranty from the buyer principal. (3)Includes accumulated amortization for deferred costs related to the Revolving Facility of $7.7 million and $7.0 million as of March 31, 2025 and December 31, 2024, respectively. Amortization expense for deferred costs related to the Revolving Facility was $0.7 million and $0.8 million for the three months ended March 31, 2025 and 2024, respectively. Deferred costs, net as of March 31, 2025 and December 31, 2024 also includes outstanding deferred equity offering costs of $0.6 million, which will be offset against additional paid in capital for future issuances of shares of the Company’s common stock.

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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