Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Real estate properties, at cost:
Land	$ 90,020,000	$ 64,538,000
Building and improvements	378,596,000	278,396,000
Tenant improvements	6,375,000	5,431,000
Total real estate properties, at cost	474,991,000	348,365,000
Less: Accumulated depreciation	(31,257,000)	(20,884,000)
Total real estate properties, net	443,734,000	327,481,000
Investment in financing leases, net	16,130,000	16,213,000
Total real estate investments, net	459,864,000	343,694,000
Cash	1,495,000	5,857,000
Escrow and reserves	547,000	1,169,000
Rent and other receivables	4,613,000	4,172,000
Prepaid expenses and other assets, net	15,968,000	7,511,000
Goodwill	1,536,000	0
Deferred rent receivable	1,194,000	666,000
In-place lease intangibles, net	15,687,000	14,399,000
Above market leases, net	399,000	249,000
Total Assets	501,303,000	377,717,000
Liabilities:
Term loans, net	163,753,000	49,359,000
Revolving credit facility	0	13,000,000
Secured borrowings, net	32,909,000	32,990,000
Accounts payable, accrued expenses and other, net	9,109,000	8,225,000
Below market leases, net	11,821,000	8,670,000
Total Liabilities	217,592,000	112,244,000
Commitments and Contingencies
Equity:
Class A common stock, par value $0.01 per share; 500,000,000 shares authorized, 19,528,066 and 18,564,421 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	195,000	186,000
Class B common stock, par value $0.01 per share; 27,206 shares authorized, 27,206 shares issued and outstanding as of December 31, 2022 and December 31, 2021	0	0
Additional paid-in capital	254,107,000	237,969,000
Accumulated deficit	(32,557,000)	(18,879,000)
Accumulated other comprehensive income	7,486,000	766,000
Total Stockholders’ Equity	229,231,000	220,042,000
Operating Partnership unitholders’ non-controlling interests	54,480,000	45,431,000
Total Equity	283,711,000	265,473,000
Total Liabilities and Equity	$ 501,303,000	$ 377,717,000