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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Land $ 21,660,644 $ 19,189,386
Buildings and improvements 133,829,416 125,979,374
Tenant improvements 17,820,948 13,861,839
Lease intangibles 4,110,139 4,110,139
Real estate assets and lease intangibles held for investment, cost 177,421,147 163,140,738
Accumulated depreciation and amortization (38,725,356) (34,644,511)
Real estate assets and lease intangibles held for investment, net 138,695,791 128,496,227
Real estate assets held for sale, net 5,459,993 2,016,003
Real estate assets, net 144,155,784 130,512,230
Other assets:    
Cash, cash equivalents and restricted cash 6,510,428 16,516,725
Deferred leasing costs, net 1,657,055 1,516,835
Goodwill 1,574,000 2,423,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) 18,318,521 0
Deferred tax asset 346,762 0
Other assets, net (see Note 6) 3,400,088 3,511,681
Total other assets 31,806,854 23,968,241
Investments held in Trust (see Notes 2 & 9) 136,871,183
TOTAL ASSETS 175,962,638 291,351,654
Liabilities:    
Mortgage notes payable, net 103,685,444 95,899,176
Mortgage notes payable related to properties held for sale, net 4,027,829 999,523
Mortgage notes payable, total net 107,713,273 96,898,699
Accounts payable and accrued liabilities 4,792,034 4,028,564
Accounts payable and accrued liabilities of SPAC (see Notes 2 & 9) 0 5,046,725
Accrued real estate taxes 1,953,087 1,879,875
Dividends payable 174,011 178,511
Lease liability, net 16,086 46,833
Below-market leases, net 13,266 18,240
Total liabilities 114,661,757 108,097,447
Commitments and contingencies (Note 2 & 9):
Equity:    
Additional paid-in capital 182,310,219 182,044,157
Dividends and accumulated losses (131,508,785) (138,341,750)
Total stockholders' equity before noncontrolling interest 50,932,994 43,829,626
Noncontrolling interest 10,367,887 9,013,446
Total equity 61,300,881 52,843,072
TOTAL LIABILITIES AND EQUITY 175,962,638 291,351,654
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 11,859,726 shares and 11,807,893 shares were issued and outstanding at December 31, 2023 and December 31, 2022, respectively 122,651 118,079
Common Class A [Member] | SPAC, Murphy Canyon Acquisition Corp. [Member]    
Liabilities:    
SPAC Class A common stock subject to possible redemption; none as of December 31, 2023 and 13,225,000 shares as of December 31, 2022 (at $10.45 per share), net of issuance cost of approximately $6,400,000 0 130,411,135
Series D Preferred Stock [Member]    
Liabilities:    
Dividends payable 174,011 178,511
Equity:    
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 898,940 shares issued and outstanding (liquidation preference $25.00 per share) as of December 31, 2023 and 913,987 shares issued and outstanding as of December 31, 2022 $ 8,909 $ 9,140