v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate:    
Investment properties $ 606,490 $ 607,512
Less accumulated depreciation (126,327) (122,837)
Real estate, net 480,163 484,675
Cash and cash equivalents 23,592 23,656
Restricted cash 24,428 24,973
Receivables, net 16,107 15,759
Investment securities - related party 23,676 24,406
Assets held for sale 1,863 4,549
Above market lease intangibles, net 648 706
Operating lease right-of-use assets 7,504 7,546
Deferred costs and other assets, net 16,026 15,464
Total Assets 594,007 601,734
LIABILITIES:    
Loans payable, net 461,068 468,157
Liabilities associated with assets held for sale 0 1,383
Below market lease intangibles, net 6,952 7,370
Derivative liabilities 10,613 7,243
Operating lease liabilities 8,177 8,221
Series D Preferred Stock redemptions 214 30
Accounts payable, accrued expenses and other liabilities 15,582 14,639
Total Liabilities 502,606 507,043
Commitments and contingencies (Note 8)
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 535,338 and 210,610 shares, respectively, issued and outstanding) 5 2
Additional paid-in capital 314,151 311,981
Accumulated deficit (356,145) (350,879)
Accumulated other comprehensive income 1,651 2,381
Total Shareholders’ (Deficit) Equity (4,299) 234
Noncontrolling interests 28,386 31,253
Total Equity 24,087 31,487
Total Liabilities and Equity 594,007 601,734
 Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 200  
Series D Cumulative Convertible Preferred Stock 67,314 63,204
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) 35,586 36,296
Land and land improvements    
Real estate:    
Investment properties 122,745 123,444
Buildings and improvements    
Real estate:    
Investment properties $ 483,745 $ 484,068

Source

HTML PDF
ZIP