Concentration of Credit Risk

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents in excess of insured amounts and tenant receivables. The Company places its cash and cash equivalents with high quality financial institutions. Management performs ongoing credit evaluations of its tenants and requires certain tenants to provide security deposits and/or suitable guarantees.

There were no tenants that accounted for an aggregate of more than 10% of the Company's total revenues during 2024 and 2023.

For the year ended December 31, 2024, three properties constitute approximately 37.5% of the Company's revenues in the aggregate. For the year ended December 31, 2023, one property constitutes approximately 14.6% of the Company's revenues in the aggregate.

The Company's properties are located largely in the Northeast, which exposes it to greater economic risks than if the properties it owned were located in a greater number of geographic regions (in particular, 6 of the Company's properties are located in Pennsylvania).