Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Land and improvements	$ 571,988	$ 540,859
Building and improvements	722,350	656,460
Tenant improvements	3,366	3,406
Furniture, fixtures and equipment	13,227	12,878
Real estate under development	73,303	142,287
Total investment in real estate	1,384,234	1,355,890
Accumulated depreciation	(206,077)	(184,781)
Investment in real estate, net	1,178,157	1,171,109
Cash and cash equivalents	22,450	18,152
Restricted cash	14,904	12,514
Tenant and other receivables, net of allowance for doubtful accounts of $184 and $321, respectively	5,231	5,005
Deferred rent	2,508	2,573
Deferred costs and intangible assets, net	6,270	6,624
Prepaid expenses and other assets	10,239	13,654
TOTAL ASSETS	1,239,759	1,229,631
Liabilities:
Notes payable, net of unamortized loan costs of $14,578 and $9,650, respectively	1,197,278	1,161,588
Accounts payable and accrued liabilities	12,954	17,094
Security deposits	8,653	7,940
Below-market leases, net	0	18
Other liabilities	7,234	5,812
TOTAL LIABILITIES	1,226,119	1,192,452
Equity:
Preferred stock, $0.01 par value; 100,000 shares authorized (including 140 shares of 12.5% Series A cumulative non-voting preferred stock), zero shares issued and outstanding	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized,16,063,228 and 16,063,228 shares issued and outstanding, respectively	160	160
Additional paid-in-capital	89,302	88,829
Accumulated deficit	(84,290)	(74,895)
Total stockholders’ equity	5,172	14,094
Non-controlling interests	8,468	23,085
TOTAL EQUITY	13,640	37,179
TOTAL LIABILITIES AND EQUITY	$ 1,239,759	$ 1,229,631