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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Investment properties held and used:    
Land $ 330,456 $ 267,946
Building and other improvements 1,198,309 993,129
Total 1,528,765 1,261,075
Less accumulated depreciation (288,863) (245,532)
Net investment properties held and used 1,239,902 1,015,543
Cash and cash equivalents 4,857 8,229
Restricted cash 477 5,154
Accounts and rent receivable 20,114 18,560
Acquired lease intangible assets, net 76,961 58,203
Operating lease right-of-use asset, net 14,153 14,570
Other assets 42,774 6,448
Total assets 1,399,238 1,126,707
Liabilities:    
Mortgages and credit facility payable, net 852,345 595,542
Accounts payable and accrued expenses 10,265 9,089
Operating lease liability 24,716 24,396
Distributions payable 4,907 4,888
Acquired intangible liabilities, net 43,339 37,918
Due to related parties 4,034 2,537
Other liabilities 8,574 14,414
Total liabilities 948,180 688,784
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding
Common stock, $.001 par value, 1,460,000,000 shares authorized, 36,184,058 and 36,040,928 shares issued and outstanding as of December 31, 2022 and 2021, respectively 36 36
Additional paid in capital 814,949 811,233
Accumulated distributions and net loss (398,097) (365,877)
Accumulated other comprehensive income (loss) 34,170 (7,469)
Total stockholders’ equity 451,058 437,923
Total liabilities and stockholders’ equity $ 1,399,238 $ 1,126,707