v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate:    
Investment properties $ 607,512 $ 647,134
Less accumulated depreciation (122,837) (112,209)
Real estate, net 484,675 534,925
Cash and cash equivalents 23,656 42,964
Restricted cash 24,973 17,752
Receivables, net 15,759 14,692
Investment securities - related party 24,406 12,025
Assets held for sale 4,549 0
Above market lease intangibles, net 706 1,285
Operating lease right-of-use assets 7,546 9,235
Deferred costs and other assets, net 15,464 20,824
Total Assets 601,734 653,702
LIABILITIES:    
Loans payable, net 468,157 482,609
Liabilities associated with assets held for sale 1,383 0
Below market lease intangible, net 7,370 11,121
Derivative liabilities 7,243 11,985
Operating lease liabilities 8,221 10,128
Series D Preferred Stock redemptions 30 4,074
Accounts payable, accrued expenses and other liabilities 14,639 17,131
Total Liabilities 507,043 537,048
Commitments and contingencies (Note 8)
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 631,866 and 311 shares, respectively, issued and outstanding) 6 0
Additional paid-in capital 311,977 276,416
Accumulated deficit (350,879) (347,029)
Accumulated other comprehensive income 2,381 0
Total Stockholders’ Equity (Deficit) 234 (25,369)
Noncontrolling interests 31,253 57,398
Total Equity 31,487 32,029
Total Liabilities and Equity 601,734 653,702
Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 30  
Series D Cumulative Convertible Preferred Stock 63,204 84,625
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, 2,887,818 and 3,357,142 shares issued and outstanding, respectively; $72.2 million and $83.9 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, 2,887,818 and 3,357,142 shares issued and outstanding, respectively; $72.2 million and $83.9 million aggregate liquidation preference, respectively) 36,296 44,791
Land and land improvements    
Real estate:    
Investment properties 123,444 138,177
Buildings and improvements    
Real estate:    
Investment properties $ 484,068 $ 508,957

Source

HTML PDF
ZIP