Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Real estate properties, at cost:
Land	$ 118,696	$ 106,074
Building and improvements	479,232	443,470
Tenant improvements	7,219	6,977
Total real estate properties, at cost	605,147	556,521
Less: Accumulated depreciation	(50,767)	(43,791)
Total real estate properties, net	554,380	512,730
Investment in financing leases, net	15,994	16,042
Total real estate investments, net	570,374	528,772
Cash	1,743	2,235
Escrow and reserves	868	632
Rent and other receivables	4,043	4,750
Prepaid expenses and other assets, net	14,061	13,369
Goodwill	1,536	1,536
Deferred rent receivable	1,754	1,542
In-place lease intangibles, net	13,479	14,154
Above market leases, net	308	355
Total Assets	608,166	567,345
Liabilities:
Term loans, net	198,968	198,801
Revolving credit facility	42,000	9,000
Secured borrowings, net	32,730	32,823
Accounts payable, accrued expenses and other, net	10,672	11,996
Below market leases, net	14,264	13,100
Total Liabilities	298,634	265,720
Commitments and Contingencies
Equity:
Additional paid-in capital	296,886	287,268
Accumulated other comprehensive income	6,899	4,621
Accumulated deficit	(58,533)	(48,546)
Total Stockholders’ Equity	245,480	243,562
Operating partnership unitholders’ non-controlling interests	64,052	58,063
Total Equity	309,532	301,625
Total Liabilities and Equity	608,166	567,345
Class A common stock
Equity:
Common stock, value, issued	228	219
Class B common stock
Equity:
Common stock, value, issued	$ 0	$ 0