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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Investments in real estate, net $ 702,845 $ 704,762
Investments in unconsolidated entities 34,196 33,505
Cash and cash equivalents 18,454 19,290
Restricted cash 17,521 24,938
Loans receivable, net (Note 5) 55,742 57,005
Accounts receivable, net 4,198 5,347
Deferred rent receivable and charges, net 21,087 28,222
Other intangible assets, net 3,663 3,948
Other assets 10,343 14,183
TOTAL ASSETS 868,049 891,200
LIABILITIES:    
Debt, net 478,339 471,561
Accounts payable and accrued expenses 26,582 26,426
Due to related parties 8,864 3,463
Other liabilities 10,604 12,981
Total liabilities 524,389 514,431
COMMITMENTS AND CONTINGENCIES (Note 15)
REDEEMABLE PREFERRED STOCK: Series A1 cumulative redeemable preferred stock, $0.001 par value; 25,226,343 and 27,904,974 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 913,630 shares issued and outstanding as of September 30, 2024 and no shares issued or outstanding as of December 31, 2023; liquidation preference of $25.00 per share, subject to adjustment 20,799 0
EQUITY:    
Common stock, $0.001 par value; 900,000,000 shares authorized; 83,447,280 shares issued and outstanding as of September 30, 2024 and 22,786,741 shares issued and outstanding as of December 31, 2023 87 23
Additional paid-in capital 984,978 852,476
Distributions in excess of earnings (985,874) (921,925)
Total stockholders’ equity 320,961 374,403
Non-controlling interests 1,900 2,366
Total equity 322,861 376,769
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY 868,049 891,200
Series A Preferred Stock    
EQUITY:    
Preferred stock 108,703 185,704
Series A1 Preferred Stock    
EQUITY:    
Preferred stock 211,877 256,935
Series D Preferred Stock    
EQUITY:    
Preferred stock $ 1,190 $ 1,190