v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Real estate:    
Investment properties $ 645,108 $ 639,205
Less accumulated depreciation (86,685) (78,225)
Real estate, net 558,423 560,980
Cash and cash equivalents 28,735 28,491
Restricted cash 22,410 27,374
Receivables, net 11,048 13,544
Assets held for sale 878 0
Investment securities - related party 3,031 0
Above market lease intangibles, net 2,573 3,134
Operating lease right-of-use assets 14,978 15,133
Deferred costs and other assets, net 31,286 35,880
Total Assets 673,362 684,536
LIABILITIES:    
Loans payable, net 469,288 466,029
Liabilities associated with assets held for sale 297 0
Below market lease intangibles, net 20,479 23,968
Derivative liabilities 2,229 7,111
Operating lease liabilities 16,380 16,478
Accounts payable, accrued expenses and other liabilities 17,209 18,398
Total Liabilities 525,882 531,984
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 9,800,211 and 9,793,957 shares issued and outstanding, respectively) 98 98
Additional paid-in capital 235,120 234,993
Accumulated deficit (307,213) (295,617)
Total Stockholders’ Deficit (26,587) (15,162)
Noncontrolling interests 66,201 66,196
Total Equity 39,614 51,034
Total Liabilities and Equity 673,362 684,536
Series D Preferred    
LIABILITIES:    
Series D Cumulative Convertible Preferred Stock (no par value, 6,000,000 shares authorized, 3,308,603 and 3,152,392 shares issued and outstanding, respectively; $121.5 million and $113.4 million aggregate liquidation value, respectively) 107,866 101,518
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 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) 44,955 44,911
Land and land improvements    
Real estate:    
Investment properties 145,368 144,537
Buildings and improvements    
Real estate:    
Investment properties $ 499,740 $ 494,668

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