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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Land and land improvements $ 114,666 $ 114,027
Building and improvements 676,228 675,308
Construction in progress 11,134 1,361
Real estate investments 802,028 790,696
Less accumulated depreciation (146,316) (128,112)
Real estate investments, net 655,712 662,584
Cash and cash equivalents 9,002 21,212
Restricted deposits 8,380 8,853
Investment in unconsolidated affiliates 7,915 2,691
Note receivable 1,300  
Lease intangible assets, less accumulated amortization of $15,558 in 2019 and $13,715 in 2018 9,133 10,976
Other assets, net 8,244 8,151
Total Assets 699,686 714,467
LIABILITIES    
Mortgage notes payable, net 393,164 406,017
Dividends payable 7,118 6,828
Tenant security deposits payable 4,439 4,286
Lease intangible liabilities, less accumulated amortization of $1,881 in 2019 and $1,621 in 2018 1,207 1,468
Accrued expenses and other liabilities 14,711 12,117
Total Liabilities 420,639 430,716
COMMITMENTS and CONTINGENCIES - Note 16
SHAREHOLDERS' EQUITY    
Beneficial interest 102,373 97,883
Noncontrolling interest in operating partnership 174,221 183,360
Partially owned properties 2,416 2,538
Accumulated other comprehensive loss 37 (30)
Total Shareholders' Equity 279,047 283,751
Total liabilities and shareholders' equity $ 699,686 $ 714,467