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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Investments in real estate:    
Land, buildings and improvements $ 730,345 $ 1,203,991
Net investments in finance leases 0 10,522
In-place lease intangible assets and other 209,968 357,788
Above-market rent intangible assets 30,512 57,954
Investments in real estate 970,825 1,630,255
Accumulated depreciation and amortization (292,679) (458,430)
Assets held for sale, net 29,297 0
Net investments in real estate 707,443 1,171,825
Restricted cash 43,305 51,560
Cash and cash equivalents 25,121 16,269
Other assets, net 29,200 65,435
Total assets [1] 805,069 1,305,089
Debt:    
Non-recourse mortgages, net 111,259 168,836
NLOP Mezzanine Loan, net 57,957 106,299
NLOP Mortgage Loan, net 0 266,844
Debt, net 169,216 541,979
Accounts payable, accrued expenses and other liabilities 44,145 59,527
Below-market rent intangible liabilities, net 6,305 10,643
Deferred income taxes 0 10,450
Dividends payable 0 1,060
Total liabilities [1] 219,666 623,659
Commitments and contingencies (Note 12)
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued 0 0
Common stock, $0.001 par value, 45,000,000 shares authorized; 14,814,075 and 14,620,919 shares, respectively, issued and outstanding 15 15
Additional paid-in capital 855,813 855,554
Distributions in excess of accumulated earnings (234,443) (142,960)
Accumulated other comprehensive loss (40,157) (35,600)
Total shareholders’ equity 581,228 677,009
Noncontrolling interests 4,175 4,421
Total equity 585,403 681,430
Total liabilities and equity $ 805,069 $ 1,305,089
[1] See Note 3 for details related to variable interest entities (“VIEs”).