v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate:    
Investment properties $ 647,134 $ 660,720
Less accumulated depreciation (112,209) (95,598)
Real estate, net 534,925 565,122
Cash and cash equivalents 42,964 18,404
Restricted cash 17,752 21,403
Receivables, net 14,692 13,126
Investment securities - related party 12,025 10,685
Above market lease intangibles, net 1,285 2,114
Operating lease right-of-use assets 9,235 9,450
Deferred costs and other assets, net 20,824 28,028
Total Assets 653,702 668,332
LIABILITIES:    
Loans payable, net 482,609 477,574
Below market lease intangible, net 11,121 17,814
Derivative liabilities 11,985 3,653
Operating lease liabilities 10,128 10,329
Series D Preferred Stock redemptions 4,074 369
Accounts payable, accrued expenses and other liabilities 17,131 17,065
Total Liabilities 537,048 526,804
Commitments and contingencies (Note 8)
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 328,112 and 18,670 shares issued and outstanding, respectively) 3 0
Additional paid-in capital 276,413 258,110
Accumulated deficit (347,029) (324,854)
Total Stockholders’ Deficit (25,369) (21,293)
Noncontrolling interests 57,398 66,116
Total Equity 32,029 44,823
Total Liabilities and Equity 653,702 668,332
Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 4,100  
Series D Cumulative Convertible Preferred Stock 84,625 96,705
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, 3,357,142 and 3,379,142 shares issued and outstanding, respectively; $83.9 million and $84.5 million aggregate liquidation preference, respectively) 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, 3,357,142 and 3,379,142 shares issued and outstanding, respectively; $83.9 million and $84.5 million aggregate liquidation preference, respectively) 44,791 44,998
Land and land improvements    
Real estate:    
Investment properties 138,177 149,908
Buildings and improvements    
Real estate:    
Investment properties $ 508,957 $ 510,812

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