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Preferred Stock and Units (Tables)
12 Months Ended
Dec. 31, 2024
Preferred Stock And Units [Abstract]  
Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock The following table sets forth our Cumulative Redeemable Perpetual Preferred Stock by series:

 

 

 

Per

 

 

 

 

 

Number of Shares

 

 

Quarterly

 

 

 

Annum

 

 

Liquidation

 

 

Issued and Outstanding as of

 

 

Distributions

 

Preferred Stock - Series

 

Rate

 

 

Preference

 

 

December 31, 2024

 

 

December 31, 2023

 

 

Per Share

 

Series B Preferred Stock

 

 

8.000

%

 

$

25.00

 

 

 

1,464,100

 

 

 

1,464,100

 

 

$

0.500000

 

Series C Preferred Stock

 

 

7.875

%

 

$

25.00

 

 

 

1,346,110

 

 

 

1,346,110

 

 

$

0.492188

 

Series D Preferred Stock

 

 

8.250

%

 

$

25.00

 

 

 

1,163,100

 

 

 

1,163,100

 

 

$

0.515625

 

Schedule of Series of Cumulative Redeemable Perpetual Preferred Units The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series:

 

 

 

Per

 

 

 

 

 

Number of Units

 

 

Quarterly

 

 

 

Annum

 

 

Liquidation

 

 

Issued and Outstanding as of

 

 

Distributions

 

Preferred Units - Series

 

Rate

 

 

Preference

 

 

December 31, 2024

 

 

December 31, 2023

 

 

Per Unit

 

Series B Preferred Units

 

 

8.000

%

 

$

25.00

 

 

 

1,464,100

 

 

 

1,464,100

 

 

$

0.500000

 

Series C Preferred Units

 

 

7.875

%

 

$

25.00

 

 

 

1,346,110

 

 

 

1,346,110

 

 

$

0.492188

 

Series D Preferred Units

 

 

8.250

%

 

$

25.00

 

 

 

1,163,100

 

 

 

1,163,100

 

 

$

0.515625

 

Quarterly Distributions in Arrears Paid by Operating Partnership

The following table presents the quarterly distributions in arrears that were paid by the Operating Partnership per Series B Preferred Unit and the quarterly dividends in arrears that were paid by the Company per share of Series B Preferred Stock, during the years ended December 31, 2024, 2023, and 2022:

 

Quarter Ended in Arrears

 

2024

 

 

2023

 

 

2022

 

March 31, 2020

 

$

-

 

 

$

0.500000

 

 

$

-

 

June 30, 2020

 

-

 

 

 

0.500000

 

 

-

 

September 30, 2020

 

-

 

 

 

0.500000

 

 

-

 

December 31, 2020

 

-

 

 

 

0.500000

 

 

-

 

March 31, 2021

 

-

 

 

 

0.500000

 

 

-

 

June 30, 2021

 

 

0.500000

 

 

-

 

 

-

 

September 30, 2021

 

 

0.500000

 

 

-

 

 

-

 

December 31, 2021

 

 

0.500000

 

 

-

 

 

-

 

March 31, 2022

 

 

0.500000

 

 

-

 

 

-

 

 

The following table presents the quarterly distributions in arrears that were paid by the Operating Partnership per Series C Preferred Unit and the quarterly dividends in arrears that were paid by the Company per share of Series C Preferred Stock, during the years ended December 31, 2024, 2023, and 2022:

 

Quarter Ended in Arrears

 

2024

 

 

2023

 

 

2022

 

March 31, 2020

 

$

-

 

 

$

0.492188

 

 

$

-

 

June 30, 2020

 

-

 

 

0.492188

 

 

-

 

September 30, 2020

 

-

 

 

0.492188

 

 

-

 

December 31, 2020

 

-

 

 

 

0.492188

 

 

-

 

March 31, 2021

 

-

 

 

0.492188

 

 

-

 

June 30, 2021

 

 

0.492188

 

-

 

 

-

 

September 30, 2021

 

 

0.492188

 

-

 

 

-

 

December 31, 2021

 

 

0.492188

 

 

-

 

 

-

 

March 31, 2022

 

 

0.492188

 

-

 

 

-

 

The following table presents the quarterly distributions in arrears that were paid by the Operating Partnership per Series D Preferred Unit and the quarterly dividends in arrears that were paid by the Company per share of Series D Preferred Stock, during the years ended December 31, 2024, 2023, and 2022:

 

Quarter Ended in Arrears

 

2024

 

 

2023

 

 

2022

 

March 31, 2020

 

$

-

 

 

$

0.515625

 

 

$

-

 

June 30, 2020

 

-

 

 

0.515625

 

 

-

 

September 30, 2020

 

-

 

 

0.515625

 

 

-

 

December 31, 2020

 

-

 

 

 

0.515625

 

 

-

 

March 31, 2021

 

-

 

 

0.515625

 

 

-

 

June 30, 2021

 

 

0.515625

 

-

 

 

-

 

September 30, 2021

 

 

0.515625

 

-

 

 

-

 

December 31, 2021

 

 

0.515625

 

 

-

 

 

-

 

March 31, 2022

 

 

0.515625

 

-

 

 

-