Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Real estate, at cost:
Land	$ 142,524	$ 139,953
Buildings and improvements	2,100,662	2,010,628
Construction in progress	107,772	54,106
Total real estate, at cost	2,350,958	2,204,687
Less accumulated depreciation	(186,121)	(138,405)
Net real estate held for investment	2,164,837	2,066,282
Construction loan receivable	21,556	18,021
Cash and cash equivalents	117,034	87,122
Restricted cash	1,450	1,450
Investments	41,885	200,935
Right of use office lease asset	1,453	1,739
In-place lease intangible assets, net	8,460	9,105
Other assets, net	32,748	30,182
Total assets	2,389,423	2,414,836
Liabilities:
Exchangeable Senior Notes, net	4,423	6,380
Notes due 2026, net	296,107	295,115
Building improvements and construction funding payable	12,724	29,376
Accounts payable and accrued expenses	13,631	10,615
Dividends payable	51,079	50,840
Rent received in advance and tenant security deposits	59,120	58,716
Other liabilities	3,670	1,901
Total liabilities	440,754	452,943
Commitments and contingencies (Notes 6 and 11)
Stockholders' equity:
Preferred stock, par value $0.001 per share, 50,000,000 shares authorized: 9.00% Series A cumulative redeemable preferred stock, $15,000 liquidation preference ($25.00 per share), 600,000 shares issued and outstanding at September 30, 2023 and December 31, 2022	14,009	14,009
Common stock, par value $0.001 per share, 50,000,000 shares authorized: 28,039,830 and 27,972,830 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	28	28
Additional paid-in capital	2,081,291	2,065,248
Dividends in excess of earnings	(146,659)	(117,392)
Total stockholders' equity	1,948,669	1,961,893
Total liabilities and stockholders' equity	$ 2,389,423	$ 2,414,836