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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Operating Real Estate Investments    
Land $ 375,857 $ 375,857
Buildings and improvements 1,745,341 1,743,866
Intangible lease assets 1,376 2,576
Construction in progress 4,529 6,078
Furniture, fixtures and equipment 127,030 120,419
Total Gross Operating Real Estate Investments 2,254,133 2,248,796
Accumulated depreciation and amortization (309,002) (287,096)
Total Net Real Estate Investments 1,945,131 1,961,700
Cash and cash equivalents 99,538 49,450
Restricted cash 32,586 39,246
Accounts receivable, net 9,421 4,844
Prepaid and other assets 11,631 4,701
Fair market value of interest rate swaps 58,104 3,526
TOTAL ASSETS 2,156,411 2,063,467
Liabilities:    
Mortgages payable, net 1,276,240 1,276,285
Credit facility, net 332,979 278,215
Accounts payable and other accrued liabilities 12,539 12,590
Accrued real estate taxes payable 7,896 13,182
Accrued interest payable 2,788 2,491
Security deposit liability 2,989 2,945
Prepaid rents 1,811 1,775
Total Liabilities 1,637,242 1,587,483
Redeemable noncontrolling interests in the Operating Partnership 6,614 6,139
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; 25,700,190 and 25,500,567 shares issued and outstanding, respectively 257 255
Additional paid-in capital 411,059 407,803
Accumulated earnings less dividends 44,246 59,209
Accumulated other comprehensive income 56,993 2,578
Total Stockholders' Equity 512,555 469,845
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,156,411 $ 2,063,467