Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate properties, at cost:
Land	$ 112,504	$ 106,074
Building and improvements	456,270	443,470
Tenant improvements	7,075	6,977
Total real estate properties, at cost	575,849	556,521
Less: Accumulated depreciation	(47,216)	(43,791)
Total real estate properties, net	528,633	512,730
Investment in financing leases, net	16,018	16,042
Total real estate investments, net	544,651	528,772
Cash	1,898	2,235
Escrow and reserves	791	632
Rent and other receivables	4,527	4,750
Prepaid expenses and other assets, net	14,999	13,369
Goodwill	1,536	1,536
Deferred rent receivable	1,643	1,542
In-place lease intangibles, net	13,701	14,154
Above market leases, net	342	355
Total Assets	584,088	567,345
Liabilities:
Term loans, net	198,885	198,801
Revolving credit facility	16,000	9,000
Secured borrowings, net	32,730	32,823
Accounts payable, accrued expenses and other, net	9,372	11,996
Below market leases, net	13,811	13,100
Total Liabilities	270,798	265,720
Commitments and Contingencies
Equity:
Additional paid-in capital	294,878	287,268
Accumulated other comprehensive income	6,888	4,621
Accumulated deficit	(53,860)	(48,546)
Total Stockholders’ Equity	248,132	243,562
Operating partnership unitholders’ non-controlling interests	65,158	58,063
Total Equity	313,290	301,625
Total Liabilities and Equity	584,088	567,345
Class A common stock
Equity:
Common stock, value, issued	226	219
Class B common stock
Equity:
Common stock, value, issued	$ 0	$ 0