v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real estate:    
Investment properties $ 629,106 $ 647,134
Less accumulated depreciation (114,571) (112,209)
Real estate, net 514,535 534,925
Cash and cash equivalents 19,233 42,964
Restricted cash 27,787 17,752
Receivables, net 14,864 14,692
Investment securities - related party 12,506 12,025
Assets held for sale 5,838 0
Above market lease intangibles, net 1,019 1,285
Operating lease right-of-use assets 9,180 9,235
Deferred costs and other assets, net 19,793 20,824
Total Assets 624,755 653,702
LIABILITIES:    
Loans payable, net 472,794 482,609
Liabilities associated with assets held for sale 105 0
Below market lease intangibles, net 9,702 11,121
Derivative liabilities 14,295 11,985
Operating lease liabilities 10,076 10,128
Series D Preferred Stock redemptions 1,586 4,074
Accounts payable, accrued expenses and other liabilities 18,079 17,131
Total Liabilities 526,637 537,048
Commitments and contingencies (Note 8)
EQUITY:    
Common Stock ($0.01 par value, 200,000,000 shares authorized, 589,500 and 65,622 shares, respectively, issued and outstanding) 5 0
Additional paid-in capital 287,986 276,416
Accumulated deficit (353,881) (347,029)
Accumulated other comprehensive income 481 0
Total Shareholders’ Deficit (21,990) (25,369)
Noncontrolling interests 44,443 57,398
Total Equity 22,453 32,029
Total Liabilities and Equity 624,755 653,702
 Series D Cumulative Convertible Preferred Stock    
LIABILITIES:    
Series D Preferred Stock redemptions 1,600  
Series D Cumulative Convertible Preferred Stock 75,665 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, 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) 42,966 44,791
Land and land improvements    
Real estate:    
Investment properties 129,413 138,177
Buildings and improvements    
Real estate:    
Investment properties $ 499,693 $ 508,957

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