v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Real estate:    
Investment properties $ 660,720 $ 639,205
Less accumulated depreciation (95,598) (78,225)
Real estate, net 565,122 560,980
Cash and cash equivalents 18,404 28,491
Restricted cash 21,403 27,374
Receivables, net 13,126 13,544
Investment securities - related party 10,685 0
Above market lease intangibles, net 2,114 3,134
Operating lease right-of-use assets 9,450 15,133
Deferred costs and other assets, net 28,028 35,880
Total Assets 668,332 684,536
LIABILITIES:    
Loans payable, net 477,574 466,029
Below market lease intangible, net 17,814 23,968
Derivative liabilities 3,653 7,111
Operating lease liabilities 10,329 16,478
Series D Preferred Stock redemptions 369 0
Accounts payable, accrued expenses and other liabilities 17,065 18,398
Total Liabilities 526,804 531,984
Commitments and contingencies (Note 8)
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 53,769,787 and 979,396 shares issued and outstanding, respectively) 538 10
Additional paid-in capital 257,572 235,081
Accumulated deficit (324,854) (295,617)
Total Stockholders’ Deficit (21,293) (15,162)
Noncontrolling interests 66,116 66,196
Total Equity 44,823 51,034
Total Liabilities and Equity 668,332 684,536
Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 400  
Series D Cumulative Convertible Preferred Stock 96,705 101,518
Series A Preferred Stock    
EQUITY:    
Series A Preferred Stock (no par value, 4,500 shares authorized, 562 shares issued and outstanding; $0.6 million in aggregate liquidation value) Series B Convertible Preferred Stock (no par value, 5,000,000 authorized, 3,379,142 shares issued and outstanding; $84.5 million aggregate liquidation preference) 453 453
Series B Convertible Preferred Stock    
EQUITY:    
Series A Preferred Stock (no par value, 4,500 shares authorized, 562 shares issued and outstanding; $0.6 million in aggregate liquidation value) Series B Convertible Preferred Stock (no par value, 5,000,000 authorized, 3,379,142 shares issued and outstanding; $84.5 million aggregate liquidation preference) 44,998 44,911
Land and land improvements    
Real estate:    
Investment properties 149,908 144,537
Buildings and improvements    
Real estate:    
Investment properties $ 510,812 $ 494,668

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