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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Investments in real estate, net $ 699,329 $ 704,762
Investments in unconsolidated entities 34,502 33,505
Cash and cash equivalents 29,323 19,290
Restricted cash 21,517 24,938
Loans receivable, net (Note 5) 57,676 57,005
Accounts receivable, net 5,731 5,347
Deferred rent receivable and charges, net 28,000 28,222
Other intangible assets, net 3,758 3,948
Other assets 11,392 14,183
TOTAL ASSETS 891,228 891,200
LIABILITIES:    
Debt, net 485,114 471,561
Accounts payable and accrued expenses 26,816 26,426
Due to related parties 5,903 3,463
Other liabilities 11,936 12,981
Total liabilities 529,769 514,431
COMMITMENTS AND CONTINGENCIES (Note 15)
REDEEMABLE PREFERRED STOCK: Series A1 cumulative redeemable preferred stock, $0.001 par value; 27,848,926 and 27,904,974 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 364,754 shares issued and outstanding as of June 30, 2024 and no shares issued or outstanding as of December 31, 2023; liquidation preference of $25.00 per share, subject to adjustment 8,298 0
EQUITY:    
Common stock, $0.001 par value; 900,000,000 shares authorized; 22,786,741 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 23 23
Additional paid-in capital 851,979 852,476
Distributions in excess of earnings (947,762) (921,925)
Total stockholders’ equity 351,069 374,403
Non-controlling interests 2,092 2,366
Total equity 353,161 376,769
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY 891,228 891,200
Series A Preferred Stock    
EQUITY:    
Preferred stock 168,844 185,704
Series A1 Preferred Stock    
EQUITY:    
Preferred stock 276,795 256,935
Series D Preferred Stock    
EQUITY:    
Preferred stock $ 1,190 $ 1,190