Note 3 - Real Estate (Tables)

12 Months Ended

Dec. 31, 2021

2021 Real Estate Acquisitions [Member]

Real Estate Properties [Line Items]

Additional Information Regarding Total Consideration for Properties

The following table provides additional information regarding total consideration for the properties acquired during 2021.

(in thousands)
Cash paid to prior owners	$	961
Value of common shares issued		14,892
Prior owner debt and preferred equity paid off at closing		20,649
Settlement of notes payable owed to properties		(700	)
Transaction costs		1,323
Cash acquired in acquisition		(1,743	)
Total Cost of Acquisition	$	35,382

Relative Fair Value of Assets Acquired and Liabilities Assumed

The following table reflects the relative fair value of assets acquired and liabilities assumed related to the properties acquired during 2021.

(in thousands)
Land	$	10,884
Building		33,889
Building and site improvements		10,001
Intangible lease assets		14,816
Total real estate assets acquired		69,590
Other assets		3,977
Total assets acquired		73,567
Accounts payable and accrued liabilities		(4,674	)
Intangible lease liabilities		(1,502	)
Deferred tax liabilities		(495	)
Assumed mortgage indebtedness		(31,514	)
Total liabilities assumed		(38,185	)
Assets acquired net of liabilities assumed	$	35,382

2020 Real Estate Acquisitions [Member]

Real Estate Properties [Line Items]

Additional Information Regarding Total Consideration for Properties

The following table provides additional information regarding the total consideration for the property.

(in thousands)
Cash paid to prior owners	$	175
Value of common shares issued		1,583
Transaction costs		70
Cash acquired in acquisitions		(44	)
Total Cost of Acquisitions	$	1,784

Relative Fair Value of Assets Acquired and Liabilities Assumed

The following table reflects the relative fair value of assets acquired and liabilities assumed related to the property acquired by the Company in July 2020.

(in thousands)
Land	$	1,826
Building		2,095
Building and site improvements		592
Intangible lease assets		496
Total real estate assets acquired		5,009
Other assets		40
Total assets acquired		5,049
Accounts payable and accrued expenses		(523	)
Deferred tax liabilities		(224	)
Assumed mortgage and other indebtedness		(2,518	)
Total liabilities assumed		(3,265	)
Assets acquired net of liabilities assumed	$	1,784