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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events  
Subsequent Events

10.  Subsequent Events

On October 4, 2024, the Board of Directors of the Company declared a cash distribution of $0.01 per share of common stock payable on November 7, 2024, to stockholders of record on October 18, 2024.

On October 23, 2024, the Company sold a property located in Atlanta, Georgia for a gross sales price of $34.0 million at a loss of approximately $27.5 million, which had been substantially recorded as impairments as of September 30, 2024 and September 30, 2023. On October 25, 2024, the Company used proceeds of approximately $27.4 million, or 90%, of the net proceeds of the distribution, to repay a portion of its outstanding indebtedness.