Supplemental Financial Statement Information (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Financial Statement Information

Schedule of other assets

	December 31, 2021		December 31, 2020
Deposits on building and land acquisitions	$	9,800	$	365
Deferred leasing costs, net		6,866		5,352
Straight-line rents		6,334		6,700
Intangible assets, net		5,495		2,126
Prepaid expenses		3,412		2,618
Deferred financing costs related to revolving lines of credit		917		162
Accounts receivable (primarily leases)		713		254
Right-of-use assets		593		707
Furniture, fixtures and equipment, net		369		181
Registration statement costs		341		—
Interest rate swap asset		188		—
Prepaid development costs		143		798
Other		402		323
Total other assets	$	35,573	$	19,586

Schedule of intangible assets and liabilities

	Year Ended December 31,
	2021		2020
Intangible assets:
In-place leases, net of accumulated amortization of $2,476 and $1,596, respectively	$	5,036	$	1,318
Tenant relationships, net of accumulated amortization of $953 and $604, respectively		459		808
Total intangible assets	$	5,495	$	2,126
Intangible liabilities:
Below market leases, net of accumulated amortization of $367 and $95, respectively	$	3,000	$	695
Total intangible liabilities	$	3,000	$	695

Schedule of estimated amortization expense of intangible assets and liabilities

		2022		2023		2024		2025		2026
In-place leases	$	1,312	$	805	$	603	$	484	$	476
Tenant relationships		141		91		55		55		28
Total to be included in depreciation and amortization expense	$	1,453	$	896	$	658	$	539	$	504
Below market lease liabilities	$	(409)	$	(405)	$	(329)	$	(318)	$	(318)
Total to be included in rental revenue	$	(409)	$	(405)	$	(329)	$	(318)	$	(318)

Schedule of accounts payable and accrued liabilities

	December 31, 2021		December 31, 2020
Accrued construction costs and retainage	$	5,813	$	94
Accrued salaries, wages and other compensation		1,796		1,027
Accrued interest payable		556		580
Trade payables		503		1,093
Accrued lease commissions		468		233
Other		602		642
Total accounts payable and accrued liabilities	$	9,738	$	3,669

Schedule of other liabilities

	December 31, 2021		December 31, 2020
Deferred compensation plan	$	5,097	$	4,335
Interest rate swap liabilities		3,995		8,766
Intangible liability, net		3,000		695
Prepaid rent from tenants		1,555		1,345
Security deposits of tenants		973		710
Lease liabilities		626		739
Contingent value rights liability		—		656
Other		153		321
Total other liabilities	$	15,399	$	17,567

Schedule of transition period financial information

			Month Ended
	Month Ended		December 31,
	December 31,		2019
(amounts in thousands, except per share data)	2020		(unaudited)
Consolidated statement of operations data:
Rental revenue	$	3,345	$	3,083
Expenses		(1,364)		(3,414)
Pretax income (loss)		1,981		(331)
Income tax benefit		—		76
Net income (loss)		1,981		(255)
Per share data:
Basic net income (loss) per common share	$	0.35	$	(0.05)
Diluted net income (loss) per common share	$	0.34	$	(0.05)
Weighted average shares outstanding - basic		5,663		5,075
Weighted average shares outstanding - diluted		5,844		5,075