XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investments in real estate:    
Land, buildings and improvements $ 721,448 $ 730,345
In-place lease intangible assets and other 208,933 209,968
Above-market rent intangible assets 30,508 30,512
Investments in real estate 960,889 970,825
Accumulated depreciation and amortization (297,845) (292,679)
Assets held for sale, net 29,297 29,297
Net investments in real estate 692,341 707,443
Restricted cash 37,597 43,305
Cash and cash equivalents 28,153 25,121
Other assets, net 26,014 29,200
Total assets [1] 784,105 805,069
Debt:    
Non-recourse mortgages, net 115,327 111,259
NLOP Mezzanine Loan, net 33,171 57,957
Debt, net 148,498 169,216
Accounts payable, accrued expenses and other liabilities 43,576 44,145
Below-market rent intangible liabilities, net 5,802 6,305
Total liabilities [1] 197,876 219,666
Commitments and contingencies (Note 9)
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 $14,814,075 shares, respectively, issued and outstanding 15 15
Additional paid-in capital 855,813 855,813
Distributions in excess of accumulated earnings (233,951) (234,443)
Accumulated other comprehensive loss (39,754) (40,157)
Total shareholders’ equity 582,123 581,228
Noncontrolling interests 4,106 4,175
Total equity 586,229 585,403
Total liabilities and equity $ 784,105 $ 805,069
[1] See Note 2 for details related to variable interest entities (“VIEs”).