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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Operating Real Estate Investments    
Land $ 359,819 $ 359,819
Buildings and improvements 1,729,021 1,719,864
Construction in progress 5,197 8,322
Furniture, fixtures and equipment 190,879 180,435
Total Gross Operating Real Estate Investments 2,284,916 2,268,440
Accumulated depreciation and amortization (459,854) (411,087)
Total Net Operating Real Estate Investments 1,825,062 1,857,353
Real estate held for sale 20,173 110,747
Total Net Real Estate Investments 1,845,235 1,968,100
Cash and cash equivalents 21,262 12,367
Restricted cash 33,385 32,912
Accounts receivable, net 11,508 14,598
Prepaid and other assets 11,107 8,640
Fair value of interest rate swaps 66,225 71,028
TOTAL ASSETS 1,988,722 2,107,645
Liabilities:    
Mortgages payable, net 1,454,418 1,453,787
Mortgages payable held for sale, net 0 88,044
Credit facility, net 0 23,243
Accounts payable and other accrued liabilities 10,826 17,140
Accrued real estate taxes payable 13,615 11,230
Accrued interest payable 8,603 9,399
Security deposit liability 3,004 3,159
Prepaid rents 1,493 1,773
Total Liabilities 1,491,959 1,607,775
Redeemable noncontrolling interests in the Operating Partnership 5,618 5,246
Stockholders' Equity:    
Preferred stock, $0.01 par value: 100,000,000 shares authorized; 0 shares issued
Common stock, $0.01 par value: 500,000,000 shares authorized; 25,403,537 and 25,674,313 shares issued and outstanding, respectively 254 256
Additional paid-in capital 402,117 413,010
Accumulated earnings less dividends 23,695 11,493
Accumulated other comprehensive income 65,079 69,865
Total Stockholders' Equity 491,145 494,624
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,988,722 $ 2,107,645