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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Investment properties held and used:    
Land $ 330,456 $ 330,456
Building and other improvements 1,202,155 1,198,309
Total 1,532,611 1,528,765
Less accumulated depreciation (312,248) (288,863)
Net investment properties held and used 1,220,363 1,239,902
Cash and cash equivalents 12,208 4,857
Restricted cash 478 477
Accounts and rent receivable 19,679 20,114
Acquired lease intangible assets, net 68,953 76,961
Operating lease right-of-use asset, net 13,945 14,153
Other assets 42,816 42,774
Total assets 1,378,442 1,399,238
Liabilities:    
Mortgages and credit facility payable, net 847,457 852,345
Accounts payable and accrued expenses 12,419 10,265
Operating lease liability 24,852 24,716
Distributions payable 4,901 4,907
Acquired intangible liabilities, net 39,122 43,339
Due to related parties 2,818 4,034
Other liabilities 9,976 8,574
Total liabilities 941,545 948,180
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, 36,196,116 and 36,184,058 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 36 36
Additional paid in capital 815,874 814,949
Accumulated distributions and net loss (415,474) (398,097)
Accumulated other comprehensive income 36,461 34,170
Total stockholders’ equity 436,897 451,058
Total liabilities and stockholders’ equity $ 1,378,442 $ 1,399,238