Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Real estate properties
Land	$ 146,309	$ 190,372
Building and improvement	838,567	1,169,793
Tenant improvement	118,404	163,569
Furniture, fixtures and equipment	236	1,368
Real estate properties, gross	1,103,516	1,525,102
Accumulated depreciation	(198,726)	(251,956)
Real estate properties, net	904,790	1,273,146
Cash and cash equivalents	18,264	18,886
Restricted cash	16,237	15,073
Rents receivable, net	40,472	52,311
Deferred leasing costs, net	21,643	25,291
Acquired lease intangible assets, net	25,423	34,631
Other assets	5,147	23,744
Assets held for sale	296,167	12,588
Total Assets	1,328,143	1,455,670
Liabilities:
Debt	647,188	646,972
Accounts payable and accrued liabilities	22,637	34,535
Deferred rent	5,265	7,010
Tenant rent deposits	5,241	7,257
Acquired lease intangible liabilities, net	4,069	6,301
Other liabilities	11,499	16,879
Liabilities related to assets held for sale	16,816	2,176
Total Liabilities	712,715	721,130
Equity:
6.625% Series A Preferred stock, $0.01 par value per share, 5,600,000 shares authorized, 4,480,000 issued and outstanding as of June 30, 2025 and December 31, 2024	112,000	112,000
Common stock, $0.01 par value, 100,000,000 shares authorized, 40,358,240 and 40,154,055 shares issued and outstanding as of June 30, 2025 and December 31, 2024	403	401
Additional paid-in capital	443,481	442,329
Retained earnings	60,901	179,838
Accumulated other comprehensive loss	(1,847)	(713)
Total Stockholders' Equity	614,938	733,855
Non-controlling interests in properties	490	685
Total Equity	615,428	734,540
Total Liabilities and Equity	$ 1,328,143	$ 1,455,670