Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has evaluated subsequent events through the date on which this Form 10-K was filed, the date on which these financial statements were issued, and identified the items below for discussion.

Real Estate

On January 14, 2023, the Company acquired the additional 11% membership interest in the Constellation Energy Building in exchange for full satisfaction of the $12.8 million loan that was extended to the seller upon the acquisition of the property in January 2022.

Indebtedness

Borrowings under the revolving credit facility were $94.0 million on February 17, 2023.

Equity

On January 5, 2023, the Company paid cash dividends of $12.8 million to common stockholders and the Operating Partnership paid cash distributions of $3.9 million to holders of Class A Units. These dividends and distributions were declared and accrued as of December 31, 2022.

On January 13, 2023, the Company paid cash dividends of $2.9 million to the holders of the Series A Preferred Stock. These dividends were declared and accrued as of December 31, 2022.