v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Real estate:    
Investment properties $ 653,395 $ 639,205
Less accumulated depreciation (91,176) (78,225)
Real estate, net 562,219 560,980
Cash and cash equivalents 25,419 28,491
Restricted cash 23,438 27,374
Receivables, net 11,691 13,544
Investment securities - related party 6,580 0
Above market lease intangibles, net 2,347 3,134
Operating lease right-of-use assets 9,502 15,133
Deferred costs and other assets, net 30,741 35,880
Total Assets 671,937 684,536
LIABILITIES:    
Loans payable, net 477,432 466,029
Below market lease intangibles, net 19,022 23,968
Derivative liabilities 13,392 7,111
Operating lease liabilities 10,377 16,478
Series D Preferred Stock redemptions 6,448 0
Accounts payable, accrued expenses and other liabilities 18,291 18,398
Total Liabilities 544,962 531,984
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 980,857 and 979,396 shares issued and outstanding, respectively) 10 10
Additional paid-in capital 235,295 235,081
Accumulated deficit (337,231) (295,617)
Total Stockholders’ Deficit (56,497) (15,162)
Noncontrolling interests 66,119 66,196
Total Equity 9,622 51,034
Total Liabilities and Equity 671,937 684,536
 Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 6,400  
Series D Cumulative Convertible Preferred Stock 117,353 101,518
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) 44,976 44,911
Land and land improvements    
Real estate:    
Investment properties 149,272 144,537
Buildings and improvements    
Real estate:    
Investment properties $ 504,123 $ 494,668

Source