Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Real estate properties, at cost:
Land	$ 85,950	$ 64,538
Building and improvements	362,585	278,396
Tenant improvements	6,220	5,431
Total real estate properties, at cost	454,755	348,365
Less: Accumulated depreciation	(28,378)	(20,884)
Total real estate properties, net	426,377	327,481
Investment in financing leases, net	16,149	16,213
Total real estate investments	442,526	343,694
Cash	4,570	5,857
Escrows and reserves	338	1,169
Rent and other receivables	4,074	4,172
Prepaid expenses and other assets, net	15,777	7,511
Goodwill	1,536	0
Deferred rent receivable	1,096	666
In-place lease intangibles, net	16,174	14,399
Above market leases, net	228	249
Total Assets	486,319	377,717
Liabilities:
Term loans, net	123,882	49,359
Revolving credit facility	31,000	13,000
Secured borrowings, net	32,908	32,990
Accounts payable, accrued expenses and other, net	8,569	8,225
Below market leases, net	11,885	8,670
Total Liabilities	208,244	112,244
Commitments and Contingencies
Equity:
Class A common stock, par value $0.01 per share; 500,000,000 shares authorized, 19,014,571 and 18,564,421 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	190	186
Class B common stock, par value $0.01 per share; 27,206 shares authorized: 27,206 shares issued and outstanding as of September 30, 2022 and December 31, 2021	0	0
Additional paid-in capital	245,793	237,969
Accumulated other comprehensive income	7,581	766
Accumulated deficit	(29,434)	(18,879)
Total Stockholders’ Equity	224,130	220,042
Operating Partnership unitholders’ non-controlling interests	53,945	45,431
Total Equity	278,075	265,473
Total Liabilities and Equity	$ 486,319	$ 377,717